Let China eat corn and Americans starve= Capitalism [View All]

Capitalism at its finest

http://www.moneynews.com/Markets/AS-China-Corn/2011/10/14/id/414491#ixzz1b3G3vv4l

China has made one of its biggest-ever purchases of corn on overseas markets, buying 900,000 metric tons of American corn and showing that growing Chinese demand will play an ever larger role in global grain prices.

The country was a net exporter of corn until 2009 but is now struggling to keep up with growing demand for the grain — which is mainly used in China as animal feed — as incomes increase and people eat more meat.

The U.S. Department of Agriculture announced Thursday that China had made the purchase, which comes despite an expected record grain harvest in China this year. China's corn consumption probably totaled 176 million tons in the crop year that started Oct. 1, 2010, according to the department .

The purchase was necessary to help fill China's dwindling corn reserves, said Hanver Li, chairman of the market research firm Shanghai JC Intelligence Co. Ltd., on Friday.


"In the long run, it should have a pretty big impact on global corn prices," Li said of the growing demand from China.

Corn prices on the Chicago Board of Trade have increased about 70 percent over the past two years though have eased from near record highs in June.

So what this means when America is in a sever drought and alfalfa prices and other grains are at peak prices
Our government sits back and watches China scarf up 900,000 tons of corn

So Americans when times get tough which it will
You just starve that is the Capitalist way