What are the standards for classification of high-income,middle-income and low-income countries according to the World Bank? Cite some examples for each group.

What are the standards for classification of high-income,middle-income and low-income countries according to the World Bank? Cite some examples for each group.

Those enjoying annual per capita income of $9,386 and above are classified as high-income countries. This group comprises three types of countries ：1 )most members of the OECD ；2) rich oil producing countries of the Middle East such as Kuwait, Saudi Arabia an d the United Arab Emirates ；3) small-industrialized countries or regions such as Israel, Singapore, Hong Kong and Taiwan. Countries with annual per capita income below $9,386 but above $765 are regarded as middle-income countries. This group includes most East European countries, most members of the Commonwealth of Independent States,six OECD members,quite a number of Latin American countries and some comparatively developed countries in Asia, such as Indonesia, Malaysia, the Philippines and Thailand. China is also included in this group now. Low-income countries are those that have per capita incomes of only $765 or even less. Most African countries, some Asian countries and a few Latin American countries are included in this group.