All peasants are farmers, but not all farmers are poor.

So, no, not as a group. Midwest farmers, on balance, are going to be some of the richest people you can find in the country (mostly because of their land ownership, which Chinese farmers don't have). There may be some individual farmers in the midwest who you could consider to be peasants, though.

But Chinese farmers are likely to be poor. Some individual farmers in China are rich, but as far as the group goes... It is not as bad as it once was, but as that group they still lag well behind the typical urban dweller.