What China has to do to avoid the risks of stagnating growth that others suffered

Can China break out of the middle-income trap? Many countries find the move from low- to middle-income status straightforward but discover the next step up is a bridge too far.

In his book, Breakout Nations: In Pursuit of the Next Economic Miracles, which has just been published in Chinese as well as in a paperback edition, Ruchir Sharma, head of emerging market equities at Morgan Stanley and leading economic commentator, makes the case that China alone among the BRICS nations (Brazil, Russia, India, China, and South Africa) will make it to the next stage.