farm subsidies for everyone
This from the Shanghai Daily today:
Agriculture gets big financial boost by -- CHINA will channel more than 100 billion yuan (US$12.8 billion) from sales of land use rights next year into supporting agriculture, Vice Minister of Land and Resources Li Yuan said yesterday.
Of course China has to manage it's urbanization and development without leaving behind the 900 million rural & agricultural population, but something tells me this won't efficiently reach the people who need it. Instead we may be heading down the path laid out by the developed nations whereby subsidies continue to go to farms even though agriculture has industrialized into huge business.
And despite the relative sizes of their economies, China may be gaining on the US. Last year, the US gave over $21 billion out in similar subsidies (including a Katrina caused a spike) after doling out $12.5 billion in 2004 and projected to give $16.5 billion in 2006. Just to put this in context though, EC agricultural subsidies were nearly €50 billion in 2005.
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