My cat got caught in a
trap.
我的猫被老鼠夹困住了。
You must
trap the thief as quickly as possible.
你必须尽快抓住小偷。
I
trapped by my new job.
我被新工作缠住了。
After the financial crisis in 2008,China started the transformation from industrial to service industries, and made industrial adjustments by learning from the experience of developed economies such as the United States, Japan, and South Korea to avoid the middle-income trap.
Microsoft founder Bill Gates avoided this trap.
The woman, who described it as a trap, said she was really drunk at a party of about 20 men and four women hosted by Liu on Aug 30, which ended around 9:30 pm as indicated by the dinner receipt, Reuters reported.
It is easy for Sun to gain back the loss from other businesses and it is not necessary for him to trap himself in Leshi's cash crunch," said Shen Meng, a director of boutique investment bank Chanson& Co. "We don't exclude the possibility that Leshi will introduce new investors and new capital will be injected into the company.
"Parvez said he has "very little doubt" that China will be able to avoid the middle-income trap as the country has strong, sophisticated manufacturing and high-tech sectors.
The middle-income trap refers to economies stagnating at middle-income levels and failing to graduate to high-income economies.
Voices of pessimism are being heard, at home and abroad, over the medium- to long-term expectations of the nation's economy, triggering growing talk of whether China can overcome the "middle-income trap" and achieve its long-term development goals.
Zhou Xiaochuan, vice-chairman of Boao Forum for Asia and former governor of the People's Bank of China, said the so-called "debt trap" created by China is highly misleading.
However, one cannot underestimate the negative impact of the "debt trap" narrative on BRI and its associated investment and financing, he added.
But there are some voices highlighting "policy ineffectiveness" in the market, with major concerns over a liquidity trap, and a potential balance sheet recession — both of which phenomena we see will not happen in China.
The most typical feature of the liquidity trap is that households and enterprises mainly hold demand deposits, but more than 70 percent of the current holdings of Chinese households and enterprises are time deposits.
Through extensive research on the so-called "debt-trap diplomacy", we have found that the BRI has led to opportunities and common growth, rather than a trap, for the participating economies, and some unique phenomena have resulted from the initiative.
Therefore, rather than accuse China of engaging in "debt trap diplomacy", the Western world should focus more on enhancing the debt management capabilities of these indebted countries, strengthening international negotiations and cooperation in debt governance, and providing comprehensive and systematic solutions for tackling debt crises, so as to help the indebted countries achieve economic recovery and improve their development capabilities.
In fact, if external demand bounces back, it can certainly help the nation cushion against the pressure from insufficient domestic demand, and at least temporarily let China jump out of the trap of insufficient total demand.
In their blues, they try to create a sentiment of gloom and doom about the Chinese economy and send it down across the wider global market, with such depressing lyrics as "systemic crisis," a "ticking time bomb," or even a "deflationary trap.
"So, this is not a debt trap," she said.
Accompanied by a business delegation of senior executives from a range of French companies, Macron said that China and the EU should work with each other to stay away from the trap of economic decoupling and severing supply chains, and keep deepening the EU-China comprehensive strategic partnership, according to Xinhua News Agency.
Since the BRI was first proposed by President Xi Jinping in 2013, the ambition is still the right sentiment going forward, said former World Bank president Jim Yong Kim, who is also partner and vice-chairman of private equity fund Global Infrastructure Partners, thus rejecting the notion of "debt trap diplomacy" as groundless.
Lin also highlighted the importance of accelerating productivity growth in the medium and long term, saying sustained productivity growth will enable China to escape the "middle-income trap" and enter into the "high-income country" category.
A key factor for foreign investors to decide to invest in China is the expectation that China will not fall into the trap of conflict and confrontation in East Asia.
But it does not mean that China has completely crossed the middle-income trap.
Inspired by bubbles, the center's walls use ethyltetrofluoroethylene, which is just one percent the weight of glass but is a better thermal insulator, helping to trap solar energy and allow daylight into the building, thus saving on energy or heating and lighting too.
South American countries are very rich in natural resources and developed rapidly in the early stage, but they have all fallen into the middle-income trap since the debt crisis in the 1980s.
"I believe that China and the US can escape the Thucydides trap, if the two countries can find and fight against common enemies," Yu said.
Relying too much on monetary easing may lead to a liquidity trap as well as a shortage of investment assets.
Strengthening international collaboration to make innovations, or the practice of "open innovation", may help China become an innovation-driven economy and cross the middle-income trap, said Nobel laureate Edmund Phelps on Monday.
China needs indigenous innovation if it is to escape from the middle-income trap, yet sorely relying on the dynamism of its own society may not be sufficient for achieving high-value innovation, said Phelps, recipient of the 2006 Nobel Prize in Economics and a professor at Columbia University.
Zhu Guangyao, a former vice-minister of finance, projected that China will join the group of high-income countries if it maintains an average annual GDP growth rate in excess of 5 percent, meaning that it will emerge from the so-called "middle-income trap".
No debt trap for participantsIn 2020, China's non-financial direct investment in the countries along the Belt and Road reached $17.79 billion, up more than 18 percent year-on-year.
Although some Westerners accuse China of pushing Bangladesh into a "debt trap", Mannan said he is not concerned about the issue.
"We are not afraid of a debt trap because we don't think it exists.
- China is determined to evade the so-called "middle-income trap" and become a high-income economy in the next 15 years, with its "new development philosophy" guiding the way.
Yet for any country at such a development stage there is a worry that it could fall into the "middle-income trap," meaning that growth could stagnate as the country no longer enjoys low-cost labor as a competitive edge and has yet to develop enough innovation to catch up with the high-income countries.
The key to escaping the trap is to transition from an investment-driven growth model to one that is productivity-driven, according to Zhu Min, chairman of the National Institute of Financial Research at Tsinghua University.
"The next five years will be a crucial period for China to tide over the middle-income trap, and it is also a stage where various risks are likely to arise," he said in a bylined article.
US can be overtaken as leading economy within decade, experts sayChina will escape the so-called middle-income trap that many emerging countries have fallen into, moving beyond it to become the world's largest economy within a decade, according to experts.
Stephen Roach, a leading United States economist and senior fellow at Yale University's Jackson Institute for Global Affairs, said China is set to escape the middle-income trap, as it has taken two important steps.
"Since 1960, only 15 countries and economies, including Japan, South Korea, Hong Kong, Taiwan and Singapore, have escaped the middle-income trap, according to the World Bank.
The middle-income trap has been a particular problem for Latin American countries.
Many Asian countries were thwarted in attempts to escape the middle-income trap by the regional financial crisis of 1997, when a series of currency emergencies undermined an unprecedented period of success.
"In the debate over the middle-income trap, the fact that many Chinese already lead comfortable high-income lifestyles is often overlooked.
Looking into the future, Parvez from the ADB said he has "very little doubt" that China will be able to avoid the middle-income trap as the country has strong, sophisticated manufacturing and high-tech sectors.
Although the accusation of "debt trap" diplomacy has been discredited as groundless, Chinese loans, on average, account for around 10 percent of total external debt in African countries.
Last, the Chinese economy is not in a so-called liquidity trap, and its loose monetary policy is still highly effective.
Falling into the liquidity trap means that no matter how a country's central bank cuts interest rates, residents are not willing to consume, and companies are not willing to invest.
However, we must refrain from falling into a nationalist trap.
Type any pet clinic's name into a Chinese online search engine and the most frequently related topics that appear are "Is it a trap?
Attempts at technological decoupling between the United States and China are unlikely to stop China's technological advances or get the country caught in the middle-income trap, said Nobel Prize-winning economist Michael Spence.
"Therefore, Spence said he doesn't think a potential technological decoupling would get China caught in the middle-income trap.
"The middle-income trap refers to the phenomenon of rapidly growing economies stagnating at middle-income levels and failing to graduate to the ranks of high-income economies.
Shu said he sees the required higher battery density as an approach to avoid falling into the subsidy fraud trap.
Worries about whether China can sustain growth and overcome the middle-income trap in the medium to long term are not imaginary fears, as there do exist challenges, including debt, deflation and the anti-globalization sentiment.
Currently, the domestic economy is facing considerable pressure, including a middle-income trap, dampening overseas market demand, a rapidly aging population and government debt risk.
Although the nation has a more complete industrial chain — a competitive edge that regions such as Southeast Asia will find difficult to catch up with in the short term — the middle-income trap remains a major concern.
"So this is not a debt trap," she said.
"Most investors will easily fall into the trap of chasing products when their prices are rising and selling them off when prices start to go down.
Allaying apprehensions that the country was on the verge of a liquidity trap, the PBOC officials said that "China is far from that. "
Usually, a liquidity trap occurs when monetary policy loses its ability to manage economic swings and a looser policy stance fails to stimulate additional spending.
We are far from the liquidity trap, be it the liquidity or the interest rates.
"In contrast, as the disease situation worsens in Europe and the United States, we are seeing what we call a 'liquidity trap' and rising deflation expectations," Ying said, referring to an economic situation where the central bank cannot use expansionary monetary policy to boost economic growth as people hoard financial capital instead of investing or spending.
The former governor of the People's Bank of China warned about the situation of zero lower bound, which occurs when the short-term nominal interest rate is at or near zero, causing a liquidity trap and limiting the capacity of the central bank to stimulate growth.
Under the dialogue mechanism, although China and Germany have differences in their views on global governance, strategic cooperation and financial regulation, the two sides did not fall into the trap of "conflict confrontation", but expanded cooperation on the basis of reciprocity and mutual benefit, always focusing on consensus rather than emphasizing conflicts, it said.
The allegations that the BRI is dragging some participating economies into a "debt trap" is not right, he said, adding that it (BRI) has actually helped promote economic development in these regions.
State Councilor and Foreign Minister Wang Yi said at a news conference that the BRI is not a debt trap for participating economies, but a platform for cooperation.
As a response, State Councilor and Foreign Minister Wang Yi said earlier this month that, "Plenty of facts are proof that the BRI is not a debt trap that some countries may fall into, but an economic pie that benefits local populations.
The so-called "debt trap" or "debt crisis" brought about by Chinese investment in markets related to the Belt and Road Initiative is actually fabricated by some people or organizations, and the rumor has harmed host countries' ability to develop their economy, foreign business executives said on Thursday.
The development of the Belt and Road Initiative has brought jobs, tax, infrastructure facilities and public services, as well as manufacturing and modern agricultural development zones into many countries in Africa, rather than the so-called "debt trap", said James Karanja, deputy team leader of the standard gauge railway project in Kenya.
Poor coordination among financial regulators has the potential to lead to faster-than-intended slowdown of credit growth and greater market volatility, throwing the economy into a downward trap.
Zambia opposes the "China debt trap" and "economic decoupling" narratives, and is willing to work with China to promote common development, he added.