Can BRICS countries escape the middle-income trap?

摘要

BRICS countries were expected to redraw the economic landscape of the world in the twenty-first century. However, they seem to have stagnated during the recent period. Hartmut Elsenhans and Salvatore Babones, in their book 'BRICS or Bust? Escaping the Middle-Income Trap', take a hard look at the underlying reasons behind the recent slowdown of BRICS nations and suggest suitable policy measures to escape from the middle-income trap.