Purpose Currently, China’s economy is in the critical phase of transforming economic development patterns and replacing old growth drivers with new ones. Whether it can successfully overcome “middle-income trap” has become a significant issue attracting wide attention. Design/methodology/approach Driven by underlying digital technologies such as artificial intelligence, blockchain, cloud comput...

This article provides a detailed examination of changes in the income of the aged and of other age groups from 1967 to 1984. Levels of income, income inequality, the relative importance of selected types of income, and the poverty rates of various age groups are also analyzed. The data are from the Bureau of the Census Current Population Survey and annual money income before taxes is the measur...

This paper presents an integrated view of economic growth, development traps, and economic geography. We explain why there is income convergence among some countries (neoclassical regime) and income divergence among others (poverty trap regime). Income convergence (divergence) and manufacturing industry di¤usion (agglomeration) are re-enforcing each other in a cumulative process. Moreover, trad...