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Scores of countries have fallen and are falling into the middle-income trap as they strive to develop. And, because of income inequality, aging populations, and a lack of growth impetus, some may never escape.\n\nOf the world\u2019s 199 countries and semi-sovereign economies, 88 are stuck in the middle-income trap: 20 are in Europe, 18 in North America, 16 in Asia, 15 in Africa, 11 in South America, and 8 in Oceania.\n\nChen Wang of Shanghai University of Finance and Economics and Jiajun Lan of the Wang Yanan Institute for Studies in Economics at Xiamen University describe the challenges middle-income countries face.\n\nRead the transcript\nhttps://bit.ly/2AR7S0C\n\nRead the working paper\nhttps://www.adb.org/publications/inequality-aging-and-middle-income-trap\n\nAbout the authors\nChen Wang is an assistant professor at the School of Urban and Regional Science, Shanghai University of Finance and Economics. \nJiajun Lan is a PhD candidate at the Wang Yanan Institute for Studies in Economics, Xiamen University, People\u2019s Republic of China.\n\nKnow more about ADBI\u2019s work\nhttps://bit.ly/2zwlL2i\nhttps://bit.ly/2B1ByVS