Middle-Income Trap: Experts Worry over China's Economic Strength as Companies Shift Operation

Middle-Income Trap: Experts Worry over China's Economic Strength as Companies Shift Operation

Despite its expanding influence and enviable human power, China has been stuck in what finance and economy experts have described as a "middle-income trap."

This was linked to different controversies in which the country is embroiled, including human rights violations and alleged military expansionism.

With a staggering 1.4million population, China boasts one of the most incredible economic success stories and cemented itself as one of the economic world powers.

China is facing income challenge
Over 50 companies have left China in what experts have described as unfortunate following President Xi's bad economic policies. Credit: ANINEWS
Source: Twitter

But there seems to be a steady dive in the run of the country's success lately in what has raised concern, Ani News reports.

Xi Jinping's bad economic policies pushing companies out of China

Experts said the Asian giant has failed to make a shift into a higher gear due to its draconian policies and lack of credibility of its tech companies.

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According to a report by Asia-Europe Foundation, a Singapore-based intergovernmental not-for-profit organisation, China, under the reign of President Xi Jinping, is creating an unsuitable environment for business and business operations.

Xi's economic policies have scared away investors as manufacturers like Apple now move their production to countries like Vietnam, leading to a shrink in a number of skilled workers.

As it stands, more than 50 companies are said to have relocated out of China in what was worsened by the country's trade dispute with the United States (US).

UK lawmakers fume over invitation of China to Queen Elizabeth II's funeral

Earlier, Legit.ng reported that the invitation extended to the government of China for the state funeral of late Queen Elizabeth II raised concerns amid the country's human rights violations against the Uyghurs.

Some United Kingdom opposed the invitation, arguing that the Beijing government has been unrepentant in its alleged suppression of the region. China has been grossly enmeshed in human rights violations and alleged genocide against the Uyghur population in the northwestern region of Xinjiang.

There have been calls and wide condemnations from the United States over China's role in abusing the rights of the minority Muslim-dominated group, with the United Nations Human Rights Office (UNHCR) also reporting widespread repression of minority Turkic Muslims by the Beijing government.

Source: Legit.ng

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