Finding a Way to Avoid the Middle-Income Trap：The Cases of China and Peru

　　This book summarizes and compares the key ideas from the Chinese and Peruvian cases across various important topics to study the middle-income trap， such as the main driving forces of a potential trap in each case; the common challenges and the main differences in the economic transitions; the different issues faced as a result of the opening-up of China and Peru; the differences and coincidences between their respective regional development processes and the key role of human capital in avoiding the middle-income trap at regional level; the importance of infrastructure investments; the role of innovation for China’s future growth versus the limitations that informality places on the capacity of formal firms to innovate in Peru， among other issues. On the whole， this academic effort by Chinese and Peruvian scholars will contribute to mutual understanding and to enlarging cooperation from both sides.

　　Professor ZHANG Yuyan is Director of Institute of World Economics and Politics （IWEP）， Chinese Academy of Social Sciences （CASS）， Member of CASS， Chief Expert of National Institute for Global Strategy， CASS， Professor of University of Chinese Academy of Social Sciences， Member of the Committee of Foreign Affairs of the National Committee of the Chinese People's Political Consultative Conference （CPPCC）， Member of the International Economics and Finance Advisory Group of the Ministry of Foreign Affairs of China， General coordinator of the International Finance and Economic task force of the Ministry of Finance of China， Expert of Advisory Committee for Economic & Trade Policy of the Ministry of Commerce of China， President of China Society of World Economy and President of China Society of Emerging Economies. His main research interests focus on institutional economics and international political economy. He authored Economic Development and the Choice of Institutions （1992）， International Economic Politics（2008）， The Sources of American Conduct（2015） and The Path of China’s Peaceful Development （2017）， etc. Doctor Rosario SANTA GADEA is Director of the Center for China and Asia-Pacific Studies at Universidad del Pacífico， Peru. She holds a Doctor´s degree in International Economics from Université de Paris Ouest Nanterre La Défense， France. She has been Fellow of the Weatherhead Center for International Affairs of Harvard University and Visiting Researcher at the Shanghai Institutes for International Studies. Dr. Santa Gadea has served as Advisor to ministers of Foreign Affairs， Defense， and Economics as well as to the Presidency of the Council of Ministers of Peru， National Coordinator for Peru at the Initiative for the Integration of the Regional Infrastructure of South America， Executive Secretary of the Peruvian Center for International Studies， Coordinator of the Institute for European-Latin American Relations （Madrid）， Official of the General Secretariat of the Andean Community， International Consultant for the Inter-American Development Bank， among other positions. Her research includes books， articles， chapters and working papers published in Latin America， Europe， the United States， and China.

Preface  ZHANG Yuyan, Rosario SANTA GADEA
Chapter 1  What Is the Real Middle-Income Trap  YAO Zhizhong
  Ⅰ.Introduction
  Ⅱ.Inevitable Decline in Growth
  Ⅲ.The Specious Trap
  Ⅳ.Definition of Middle-Income Trap
  Ⅴ.How Big is the Middle-Income Trap
  Ⅵ.Conclusion
  References
  List of Abbreviations
Chapter 2  The Middle-Income Trap in Selected Literature An Overview Rosario SANTA GADEA, Leolino DOURADO, Gabriel ARRIETA
  Ⅰ.Introduction
  Ⅱ.Definitions of Middle-Income Countries
  Ⅲ.Approaches to the Middle-Income Trap
  Ⅳ.Main Driving Forces of the Middle-Income Trap
  Ⅴ.Components of a Strategy to Avoid Being Trapped
  Ⅵ.Concluding Remarks
  References
  List of Abbreviations
Chapter 3  Economic Transition in China and Middle-Income Trap  SONG Jin
  Ⅰ.Introduction
  Ⅱ.A Brief Review of Chinese Economy from 1 9 5 0s to Now
  Ⅲ.Literature Review of Economic Transition
  Ⅳ.A Zoom in of the Structural Change and Income Growth Pattern in the Last 20 Years
  Ⅴ.Discussion on Income Distribution and Policy Enlightenment
  Ⅵ.Conclusions
  References
  List of Abbreviations
Chapter 4  Transition and the Middle-Income Trap in Peru: A Long Term Perspective Since the Late 19 the Century  María Amparo CRUZ SACO, Mirian GIL, Favio LEIVA
  Ⅰ.Introduction
  Ⅱ.Context and Research Questions
  Ⅲ.International Economic Transition: Employment and Output
  Ⅳ.Data and Methodology
  Ⅴ.Conclusions and Recommendations
  List of Abbreviations
Chapter 5  China and the World: The Background and Economic Logic of China's Opening-UP  ZHANG Yuyan, FENG Weijiang
  Ⅰ.Introduction
  Ⅱ.Domestic Undercurrent for the Reform and Opening-Up of China
  Ⅲ.Changes in the Outside World
  Ⅳ.The Theoretical Logic of Opening-Up to the Outside World
  Ⅴ.Conclusion
  References
  List of Abbreviations
Chapter 6  Peru's Opening-Up: Strategies, Impacts and Pending Tasks  Carlos PARODI
  Ⅰ.Introduction
  Ⅱ.How Is Economic Openness Defined
  Ⅲ.The Nineties and Commercial and Financial Openness
  Ⅳ.The Mining Boom and the 2 008  Global Financial Crisis: 2 001 -2 01 0
  Ⅴ.Free Trade Agreements
  Ⅵ.The Slowdown, 2011