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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: russwinter who wrote (9687)3/8/2004 9:56:41 AM
From: rubed  Read Replies (1) of 110194
 
No, what they are trying to do is redirect migrants to smaller provincial cities. So rather than moving to the major coastal cities or inland provincial capitals, they want them to move to the smaller provincial cities (under a million). They are supporting this by directing investment to these areas as well as government transfer to these municipalities. The number I have always heard is that China needs 7% growth in order to absorb all the migrants pushed off farm. Wen Jiabao also just said at the opening of congress that they would aim for 7% growth this year but with a focus on reducing rural/urban inequalities through targeted investment in rural areas.

China is trying to modernize its agriculture just like everything else in their country. Their 'farm to forest' policy is really unbelievable in its scope as it is the type of thing you just couldn't do anywhere else in the world. They are returning a huge amount of semi-arable land (which never should have been farmed and is causing huge environmental damage) back to its original use as rangeland, forest and hillside... and removing those farmers from the land as a result. The Chinese saw the light on some environmental issues with the Yangtze floods in 1998 and are moving in some areas - though it is still an incredibly polluted mess here.

rube
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