Asia's sandwich classes could end up in limbo: IMF

Middle-income Asian economies enjoy better growth prospects than countries in other parts of the world but they must improve government institutions and liberalise rigid labour and product markets if they wish to reach the level of developed countries, the International Monetary Fund (IMF) said on Monday.

“Emerging Asia is potentially susceptible to the ‘middle-income trap,’ a phenomenon whereby economies risk stagnation at middle-income levels and fail to graduate into the ranks of advanced economies,” IMF said in its latest Regional Economic Outlook for Asia and the Pacific.

via Business feed http://www.scmp.com/business/economy/article/1225868/asias-sandwich-classes-could-end-limbo-imf