China CCP Wants Farmers to Bail Out Economy

CCP Chinese Communist Party Wants Farmers to Bail Out The Economy !!!

China's exports have been hit hard as the financial crisis cuts down global consumption, and the Chinese regime is hoping the nation's farmers will fill the gap. The regime is offering a 13 percent subsidy on the cost of household appliances in a bid to boost domestic consumption, which accounts for only 35 percent of the nation's GDP. But while state-controlled media say the scheme has been a success, farmers tell a different story.
Global consumption has been hit hard by the global financial crisis. Official statistics show that China's exports have fallen for the past five months.

And with home appliances making up half of China's export revenue, the Chinese regime is looking to the nation's farmers to reignite the economy by buying surplus stock.

Launched in February this year, the Rural Home Appliance Subsidy offers farmers 13 percent off the price of appliances such as televisions and refrigerators.

State-controlled media outlet Xinhua news says the plan has been a big success, and sales of household appliances in rural areas had surged more than 70 percent.

But this farmer from Yantai in Shandong Province, says he doesn't know of anyone who bought appliances.

I didnt buy any. Nobody around me bought any. Hardly anyone bought any. Not even one percent. Those who can afford appliances have bought them already. Those who couldn't afford them still can't afford them. Appliances aren't like food or other consumables. You only buy a new one when the one you have is broken."

Another farmer from Zhongjiang, Sichuan Province says most farmers dont have the money to buy these kinds of items.

Generally, farmers are too poor. The only people taking advantage of the Rural Home Appliance Subsidy are government officials. To be honest there aren't many ordinary citizens buying appliances.

Former Boston University economics scholar Dr. Jian Tianlun says that China's economy has relied too heavily on exports, leading to an oversupply of goods. Dr. Jian doubts the plan will work.

[Jian Tianlun, Former Boston University Economics Scholar]:
Over the past six months, more than 20 million migrant workers have returned to their villages from major cities due to the decline in exports. The migration is still continuing. This will probably affect their household income. So I don't feel optimistic about the Rural Home Appliance Subsidy."
Source NTDTV