Escaping the middle-income trap requires a rise in real wages and high-paying jobs for locals not foreigners.(e/c)
May Day Message by Penang Chief Minister Lim Guan Eng in Komtar, George Town on 1 May 2014. For decades, Malaysia has been wallowing in an economic dilemma known as the “middle-income trap”. This term denotes a situation where developing economies that have achieved middle-income status (per capita income of USD1,036 – USD12,516) are unable …