World Bank to Help China Transit to High Income Country
President of the World Bank Robert Zoellick states that the WB would expand its partnership with China to help the country become a high income nation."Experience shows that transitioning from middle income to high income status can be harder than from low income to middle income," said Zoellick.
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To avoid the so called "middle income trap", China was already looking at ways to generate new sources of growth, especially through urbanization, human capital formation and innovation policies, he said.