Social and Behavioral Sciences Commons^™

Blockchain Technology - China's Bid To High Long-Run Growth, Tyler J. Mann

Gettysburg Economic Review

Despite having the second largest economy at $13 trillion, China has only recently surpassed the World Bank’s definition of the ‘middle-income range’ which is a gross national income per capita between $1,000 to $12,000 (constant 2011 international $). This is a noteworthy accomplishment since many other developing nations have fallen victim to economic stagnation within this range leading to the term “middle-income trap”. This paper will argue that one of the ways in which China escaped the middle-income trap and will continue to grow its economic influence is through the support of blockchain technology. Research and development, early technological adoption …