Casey
The last two months have been a very exciting period for the China microfinance sector. As the global economic crises proceeds to unravel, over 20 million migrant workers in China are now jobless and returning to their homes in the countryside. At the same time, to sustain growth, create jobs and reduce inventories, China needs to
boost consumer spending. And this includes consumption in the countryside, where some 700
million plus people live. The trouble is, the majority of farmers
have little spare cash - and any savings are saved away in case family
members take ill. One solution could be microcredit - lending to expand
livestock or start a small business. China sees the need for microcredit loud and clear and the government is quickly implementing new policies to push forward the development of the microfinance sector.
In lue of these recent developments, we will be featuring a series of posts on the past and present of China's microfinance sector, with an article series written in collaboration between Geri Mason & Jason Korsmeyer, and blog posts from our team on the latest news in China microfinance.
great idea! Could we have a category just for the series so that we can find them easily?
Posted by: Sam L | March 26, 2009 at 05:36 AM