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China has too low a consumption with respect to its GDP. People are just saving too much therefore hard to establish domestic driven economy. The government try to stimulate by giving rebates on buying new cars, electric appliances, better safety nets such health insurance.....etc. |
It's fine, but I think it's still not enough. I really it would serve the country better if the government imposed upon its people to consume the domestic goods in order get that domestic economy engine moving into high gear.
Here's some of the ideas
1)Cars & trucks older than 10 yrs old are not allow on the road. They must be replaced!!more rebates if buy dometic brand cars.
2)Each Students going to school must purchase a laptop made with domestic produced "Godson" processors & linux system. school would assign projects to students with such laptops. Each laptop must be less than 5 yrs old or be replaced
3)Each employee who has job must have a cellphone, The phone must be less than 3 yrs old.
4)Each farming family must own a set of farming equipments. Tractors, trucks, They must be less than 10 yrs old.
5)Each family rent a apartment or bought home must need to buy a set of appliances, LCD TV, refrigerators, micowave oven, washing machine....etc
People can the option of buy now and pay later Using national credit card.
those who don't pay their monthly payment will be recorded. Their wages would be garnished in the future if they have a job. So, this way it guarantee the payments would be made.
As for foreigners living in China, they must pay up front, no credit card system for them.
The bottom line is China has to consume more, using credit card, future type of payment.
As a communist country the government can use its power to enforce and impose domestic consumption. actually it's for the good of the country.