Chinese economy needs a structural change, and many seem to agree that to stimulate domestic demand is key.
In my view it is something rather fundamental, but short-cut ideas fly around. Look at this guy, who is a people’s representative of the National Congress, advocate a nutty idea of national holiday to release domestic demand. By that logic, unemployment would really help.
BTW, the guy owns a tourism company, so that more leisure time would surely boost his business, and he spoke bluntly about it. Great. While convening to speak for the people, why not as well use the marketing platform to speak for himself?
Recently an usual thing happened – the government decided to subsidize farmers to make home appliance purchases by reimbursing 13% of sales price. Items include TV, cell phone and fridges.
It’s a serious project. They even built an online information management system for it. According to one village survey, farmers are satisfied, though not without concerns.
It is somewhat another unprecedented, well-intentioned socialism move by the government.
Leave the gun, take the cannoli.
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