Thanks to Carter Dillard for sending this OpEd from USA Today.
For anyone wondering where food prices are really headed, the news that Beijing has begun buying up farmland in Africa and South America offers a troubling hint. When China began acquiring oil fields in the 1990s, it signaled both the end of China’s self-sufficiency in oil and the start of a competition between China and other big oil importers that helped push crude prices to their current record levels. That the world’s most populous nation now seeks to lock up pieces of foreign food production not only confirms that China has reached the end of food self-sufficiency as well, but suggests that Western hopes for a quick end to today’s food-price crisis could be overly optimistic.
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