business

China inflation edges up on the back of food prices

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By GREG BAKER

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© 2020 AFP

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The article makes no mention of the current historic flooding destroying China's rice crop and threatening the wheat and corn crops. Corn is essential for feeding pigs. For now massive distribution of rice from the national stock pile has kept prices down. However the land remains flooded and the second rice crop cannot be planted, auguring for a food shortage later this year as foreign suppliers cannot begin to make up the difference. It, as meteorologists predict the rain moves north and floods wheat and corn growing regions expect to see shortages of wheat and pork along with rice.

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