Zero Hedge: China Panic-Hoards Half Of World's Grain Supply Amid Threats Of Collapse
About two and a half years ago, we told readers China was panic hoarding food, which was several months before the virus pandemic began to spread worldwide; Beijing has managed to stockpile more than half of the world's maize and other grains that have resulted in rapid food inflation and triggered famine in some countries.
In August 2019, we asked the question:
Does China believe that we are on the verge of a major global crisis? The communist Chinese government has always been very big into planning, and it appears that they have decided that now is the time to hoard food, gold and other commodities.
Fast forward today, the answer is most likely "yes." China maintains "historically high levels" of beans and grains stockpiled at COFCO Group's (a major Chinese state-owned food processor) 310 storage facilities in the northeastern part of the country, according to Nikkei Asia.
Read more ....
WNU Editor: Beijing has also been warning its citizens to stock up on food for the past two months .... China Urges Stockpiling on Winter Food Supply, Prompting Online Worry (Bloomberg).
Hmmmm.... what does China know that we do not?