VOICED: China's stimulus plan: electronics for the masses

The video discusses a new government scheme in China aimed at providing a 13% discount on household appliances to rural residents, with the goal of boosting the economy and making modern conveniences affordable. Premier Wen Jiabao announced subsidies worth nearly 3 billion USD to encourage rural spending. The initiative is crucial for China's future growth, as the country seeks to transition from an export-driven economy to one fueled by domestic demand. The video highlights the challenges faced by rural populations, such as limited Social Security, and emphasizes the importance of increasing domestic consumption for sustainable economic development.

What is the primary goal of the new government scheme offering discounts on household appliances?

• To promote the use of renewable energy

• To reduce the cost of living in urban areas

• To make modern conveniences affordable for rural populations

• To increase exports of Chinese goods

What did Premier Wen Jiabao announce at the Parliamentary session?

• A new tax policy for urban areas

• Plans to send electronics to the countryside

• An increase in export tariffs

• A reduction in agricultural subsidies

How much are the subsidies worth that are being offered to encourage the purchase of electronics?

• 1 billion U.S. dollars

• 2 billion U.S. dollars

• 3 billion U.S. dollars

• 4 billion U.S. dollars

Why is convincing rural populations to spend considered vital for China's future growth?

• Because it will drive domestic demand, crucial for economic growth

• Because it will increase the country's export revenue

• Because it will lower the national debt

• Because it will reduce the need for foreign investments

What was the foundation of China's economic miracle, according to the transcript?

• Domestic consumption

• Exporting cheap goods to foreign customers

• High-tech innovation

• Agricultural development