“Middle-income trap” - Environmental perspective and implications for Vietnam

Abstract

Getting rich and bringing the country to prosperity and wealth is the legitimate desire of every nation. Countries have been setting goals to become developed economies such as China by 2035, India by 2047... and Vietnam is a no exception. Our country is striving to enter the era of nation’s rise, with the goal to become an upper-middle-income by 2030, and a high-income country by 2045.However, not all developing countries can overcome the middle-income stage to become high-income; on the contrary, most countries fall into the "middle-income trap". From an overview of research documents, especially the World Development Report 2024 of the World Bank, this article aims to provide some information about the "middle-income trap", analysed from an environmental perspective with challenges and solutions for Vietnam.