According to Chinese media, farmers in a rural village in China have hit the jackpot after they gave up farming to sell wool yarn online. The providence of Donggaozhuang has produced roughly 20-30 millionaires after the farmers started selling their wool on shopping platform Taobao. Owned by the Alibaba Group, Taobao is the countries biggest online marketplace – similar to Ebay or Amazon in the US.
Donggaozhuang currently has about 400 residents selling yarn online. The villagers buy the wool and then spool it into thread. The village only has about 2,000 residents total. It all started when a young farmer set up a store on Taobao and made 20,000 yuan (US$2,900) in under 3 months!
Older farmers whose relied on growing wheat and corn were astonished. The villages leaders asked the young man to teach others how to start their own store. As the word spread, more villagers followed suit and sold or leased their farmland to focus on producing and selling yarn. Many village children have quit school to help manage their families’ businesses.