Indonesia now upper middle-income country, World Bank says

[Viet]

Thank you bro, yup a major milestone since it needs some times to be able to reach this level. AlhamduLILLAH. But of course the next target is to become a solid upper middle income country that at least reach 8000 USD GDP per capita. I hope we can reach it in 2030 or even sooner inshaAllah. For the short term target, we need to maintain our position in the upper middle income group during this difficult time. The negative side of it I think we will get more difficulties to get soft loan from World Bank due to this upgrade status.

I hope you can escape the middle income trap. Look at the Siamese: they are stucked in middle income forever.

 

[Skull and Bones]

Congratulations and best of luck to our Indonesian friends.

 

[lonelyman]

I hope you can escape the middle income trap. Look at the Siamese: they are stucked in middle income forever.

baring the white colonists, only countries escaped from middle income are all East Asian countries

Argentina, Brazil, Mexico even regressed

 

[Pakistani E]

Congratulations and best wishes for Indonesia. Hope more Asian and African countries can follow suit.

 

[Mista]

I hope you can escape the middle income trap. Look at the Siamese: they are stucked in middle income forever.

baring the white colonists, only countries escaped from middle income are all East Asian countries

Argentina, Brazil, Mexico even regressed

The World Bank defines 'middle-income' as having a GNI per capita of $1,036 to $12,535.

https://datahelpdesk.worldbank.org/.../906519-world-bank-country-and-lending-groups

As long as you have postive GNI per capita growth and the WB doesn't revise the definition, all countries can theoretically escape the middle income trap one day.

 

[Viet]

The World Bank defines 'middle-income' as having a GNI per capita of $1,036 to $12,535.

https://datahelpdesk.worldbank.org/.../906519-world-bank-country-and-lending-groups

As long as you have postive GNI per capita growth and the WB doesn't revise the definition, all countries can theoretically escape the middle income trap one day.

But the day may never come.
In opposite achieving high income is a huge challenge.
For country of middle size like Vietnam, Thailand, Philippines, Indonesia they must have a strong service sector, manufacturing, industry and domestic market. They should have national champions that make domestic brands.
It’s easier for Singapore because you have less people.

 

[KAL-EL]

Congratulations and best wishes from the United States.

 

[Mista]

But the day may never come

It will. Just do the math.

It’s easier for Singapore because you have less people.

Singapore's GNI per capita of $60K is around 5x the threshold for high income.

Which means to say, we can have a 5x increase in population without any increase in GDP, and we would still be considered as a high income country.

 

[Viet]

It will. Just do the math.



Singapore's GNI per capita of $60K is around 5x the threshold for high income.

Which means to say, we can have a 5x increase in population without any increase in GDP, and we would still be considered as a high income country.

Not too easy. There must be a reason why only two countries achieved high income in the last generation: Poland and RoK. Philippines before Marcos was richer than Japan. Indonesia, Turkey should have reached high income since a decade but they fall back again and again.

Poland is lucky because of EU/German money: 10 billion euros per year. RoK is lucky too because of US money at the beginning of industrialization (thanks to RoK troops in Vietnam).

Singapore is a special case. You are similar to Luxemburg. Small country getting rich thanks to money influx of foreigners.

 

[Indos]

Not too easy. There must be a reason why only two countries achieved high income in the last generation: Poland and RoK. Philippines before Marcos was richer than Japan. Indonesia, Turkey should have reached high income since a decade but they fall back again and again.

Poland is lucky because of EU/German money: 10 billion euros per year. RoK is lucky too because of US money at the beginning of industrialization (thanks to RoK troops in Vietnam).

Singapore is a special case. You are similar to Luxemburg. Small country getting rich thanks to money influx of foreigners.

Romanian has reached high income status this year

 

[KAL-EL]

Romanian has reached high income status this year

Good for them!

I never disrespect Romania in anyway, because it was once home to arguably the most powerful being on earth.

 

[Mista]

Not too easy. There must be a reason why only two countries achieved high income in the last generation: Poland and RoK. Philippines before Marcos was richer than Japan. Indonesia, Turkey should have reached high income since a decade but they fall back again and again.

Poland is lucky because of EU/German money: 10 billion euros per year. RoK is lucky too because of US money at the beginning of industrialization (thanks to RoK troops in Vietnam).

There are plenty of countries which breached into high-income status. Just because you're ignorant about it doesn't mean they don't exist.

Even poster boy countries for middle-income trap like Uruguay, Chile, and Panama is considered high-income now.

The world has a GNI per capita of $11,570. Which means to say the world can breach into high income status in less than 5 years with an annual per capita growth rate of 3%.

Singapore is a special case. You are similar to Luxemburg. Small country getting rich thanks to money influx of foreigners.

Nope, GNI excludes the value created by foreigners.

And Singapore already breached into high income status in the 1980s before becoming a financial center.

 

[Kai Liu]

baring the white colonists, only countries escaped from middle income are all East Asian countries

Argentina, Brazil, Mexico even regressed

Yes, IQ matters.
China will join the high income within 3 years:

https://en.wikipedia.org/wiki/List_of_countries_by_GNI_(nominal)_per_capita

It will. Just do the math.



Singapore's GNI per capita of $60K is around 5x the threshold for high income.

Which means to say, we can have a 5x increase in population without any increase in GDP, and we would still be considered as a high income country.

IQ matters.

 

[Kai Liu]

this is nothing to brag about, $4000 per capita still miles behind East Asian economy

Still from the contribution of Chinese.

 

[Viet]

There are plenty of countries which breached into high-income status. Just because you're ignorant about it doesn't mean they don't exist.

View attachment 647953

Even poster boy countries for middle-income trap like Uruguay, Chile, and Panama is considered high-income now.

The world has a GNI per capita of $11,570. Which means to say the world can breach into high income status in less than 5 years with an annual per capita growth rate of 3%.



Nope, GNI excludes the value created by foreigners.

And Singapore already breached into high income status in the 1980s before becoming a financial center.

I mean countries with sizeable population as Poland and RoK that gained high income status my friend so Countries with more than 30 million inhabitants. Because that’s a good benchmark for countries in Asean.
You compare countries with similar economic background.