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The middle income trap occurs when a country's growth plateaus and eventually stagnates after reaching middle income levels. China became a middle income country in 2012 after its per capita GDP exceeded 5,000 U.S. dollars, according to the National Bureau of Statistics.
Pany said the Belt and Road initiative tallied with Lao development prospect and was good for the country.
"President Xi's visit is an important opportunity to send very positive signals about China's commitment (to economic reforms), including its position on the BIT negotiations," Froman said at an event at the Center for Strategic and International Studies, a Washington D.C.-based think tank.
However, the TFA will only enter into force when two-thirds of the WTO members formally accept the agreement. So far, only 16 of 108 members have accepted the protocol of the agreement, including China, Malaysia, Singapore and the ROK.
"The new definition of bilateral ties reflects both countries expect to achieve win-win cooperation with each other, but not only at the bilateral level," said Feng Zhongping, vice president of China Institutes of Contemporary International Relations.
来源：资阳报