The World Bank has elevated Vietnam and the Philippines to upper-middle-income status—but now they face ‘a far more demanding phase of development’
- Posted on July 3, 2026
- By Fortune
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- 1 min read
The World Bank has elevated Vietnam and the Philippines to upper-middle-income status—but now they face ‘a far more demanding phase of development’
Both countries must now escape the middle income trap that has stalled several of their Southeast Asian peers.
