Planet Money : NPR
NPR • • world
Key Points:
- Many economists once believed there was a simple blueprint for poor countries to become rich, but many rapidly developing economies have stalled in a "middle income trap," where they are neither poor nor rich.
- Brazil is often cited as a prime example of the middle income trap, having experienced rapid growth but now facing challenges in achieving further economic development.
- The traditional model of industrialization, exemplified by Brazil's ambitious plan starting in the Amazon rainforest, may no longer be effective in driving sustained economic growth.
- This episode of Planet Money explores Brazil's economic journey and the limitations of the old development blueprint in the modern global economy.