Professor Zhang Yuyan is Direaor of Institute of World Economics and Politics （IWEP）， Chinese Academy of Social Sciences （CASS）， Member of CASS， Chief Expert of National Institute for Global Strategy， CASS， Professor of University of Chinese Academy of Social Sciences， Member of the Committee of Foreign Affairs of the National Committee of the Chinese People's Political Consultative Conference （CPPCC）， Member of the International Economics and Finance Advisory Group of the Ministry of Foreign Affairs of China， General coordinator of the International Finance and Economic task force of the Ministry of Finance of China， Expert of Advisory Committee for Economic & Trade Policy of the Ministry of Commerce of China， President of China Society of World Economy and President of China Society of Emerging Economies， His main research interests focus on institutional economics and international political economy， He authored Economic Development and the Choice of Institutions （1992）， International Economic Politics （2008）， The 5ources of American Conduct （2015） and The Path of China's Peaceful Development （2017）， etc.
　　
　　Doctor Rosario SANTA GADEA is Director of the Center for China and Asia-Pacific Studies at Universidad del Pacifico， Peru. She holds a Doctor's degree in International Economics from Universite de Paris Ouest Nanterre La Defense， France. She has been Fellow of the Weatherhead Center for International Affairs of Harvard University and Visiting Researcher at the Shanghai Institutes for international Studies. Dr. Santa Gadea has served as Adviser to ministers of Foreign Affairs， Defense， and Economics as well as to the Presidency of the Council of Ministers of Peru， National Coordinator for Peru at the Initiative for the Integration of the Regional Infrastructure of South America， Executive Secretary of the Peruvian Center for International Studies， Coordinator of the Institute for European-Latin American Relations （Madrid）， Official of the General Secretariat of the Andean Community， International Consultant for the Inter-American Development Bank， among other positions. Her research includes books， articles， chapters and working papers published in Latin America， Europe， the United States， and China.

　　This book summarizes and compares the key ideas from the Chinese and Peruvian cases across various important topics to study the middle-income trap， such as the main driving forces of a potential trap in each case； the common challenges and the main differences in the economic transitions； the different issues faced as a result of the opening-up of China and Peru； the differences and coincidences between their respective regional development processes and the key role of human capital in avoiding the middle-income trap at regional level； the importance of infrastructure investments； the role of innovation for China's future growth versus the limitations that informality places on the capacity of formal firms to innovate in Peru， among other issues. On the whole， this academic effort by Chinese and Peruvian scholars will contribute to mutual understanding and to enlarging cooperation from both sides.

Preface

Chapter 1 What Is the Real Middle-Income Trap?
I． Introduction
II． Inevitable Decline in Growth
III． The Specious Trap
IV． Definition of Middle-Income Trap
V． How Big is the Middle-Income Trap?
VI． Conclusion
References
List of Abbreviations

Chapter 2 The Middle-Income Trap in Selected Literature： An Overview
I． Introduction
II． Definitions of Middle-Income Countries
III． Approaches to the Middle-Income Trap
1V． Main Driving Forces of the Middle-Income Trap
V． Components of a Strategy to Avoid Being Trapped
VI． Concluding Remarks
References
List of Abbreviations

Chapter 3 Economic Transition in China and Middle-Income Trap
I． Introduction
II． A Brief Review of Chinese Economy from 1950s to Now
III． Literature Review of Economic Transition
IV． A Zoom in of the Structural Change and Income Growth Pattern in the Last 20 Years
V． Discussion on Income Distribution and Policy Enlightenment
VI． Conclusions
References
List of Abbreviations

Chapter 4 Transition and the Middle-Income Trap in Peru： A Long Term Perspective Since the Late 19th Century
I． Introduction
II． Context and Research Questions
III． International Economic Transition： Employment and Output
IV． Data and Methodology
V． Conclusions and Recommendations
References
List of Abbreviations
……

Chapter 5 China and the World： The Background and Economic Logic of China's Opening-UP
Chapter 6 Peru's Opening-Up： Strategies， Impacts and Pending Tasks
Chapter 7 Escaping the Middle-Income Trap in China： A Regional Perspective
Chapter 8 Regional Development in Peru： Trends and Challenges
Chapter 9 Infrastructure Investment Challenges in Emerging Economies and Solutions of China
Chapter 10 The Gap in Infrastructure Investment in Peru and Challenges Ahead
Chapter 11 China's Economic Policy Framework to Deal with the Middle-Income Trap
Chapter 12 Informality in Peru and Its Effects on Innovation at Firm Level
Chapter 13 Financial Crisis and the Middle-Income Trap： Implications for China
Chapter 14 Concluding Chapter-Overleaping the Middle-Income Trap： A Chinese Perspective
Chapter 15 Concluding Chapter-Peruvian Perspective： The Middle-Income Trap or the Challenges of Development． A Comparative Approach of China and Peru

About the Authors