Making It: Industry for Development (#14)
Over recent decades, middle-income countries (MICs) have made a significant contribution to global development through their higher growth rates, accompanied by progress in their social spheres. They are a fast-growing group of countries, both in terms of population and of key economic and human development indicators, with a share of around a third of global manufactured value added. However, in parallel with some macroeconomic successes, there has been a significant shift in global poverty towards MICs. Some of the world’s most populous countries (India, Indonesia and Nigeria, for example) have recently joined this category.