CNN: Food prices are soaring in China because of the coronavirus and swine fever
The coronavirus outbreak is driving up the cost of food — and almost everything else in China — adding to the pressure on household budgets.
China's consumer price inflation hit 5.4% in January, according to the country's National Bureau of Statistics on Monday. Prices rose last month at their fastest rate since October 2011, when China was battling to control months of soaring inflation.
Food, which makes up nearly a third of spending by Chinese consumers, is spiking the most. Pork — a mainstay in the Chinese diet that is already under pressure because of a devastating pig disease — skyrocketed a staggering 116% compared to a year ago. Vegetables were 17% more expensive.
Other items saw modest price rises by comparison: Health care was 2.3% more expensive, for example, while clothing prices rose 0.6%.
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WNU Editor: These numbers are from January. February numbers are projected to be even worse.
More News On Food Prices 'Exploding' In China
China says pork prices surged 116% in January from a year ago -- CNBC
China inflation rises as virus disrupts supply chains -- Bangkok Post/Bloomberg
Coronavirus Helps Drive China’s Consumer Prices to Highest Level in Over Eight Years -- Wall Street Journal
Chinese inflation hits eight-year high as coronavirus anxiety climbs -- Yahoo Finance
China’s consumer inflation at eight-year high, but factory gate prices stay subdued -- SCMP
China Suddenly Has Another Major "Virus" Problem, As Soaring Food Prices Put A Lid On Central Bank Intervention -- Zero Hedge
9 comments:
China will lay down and drop tariffs on US foodstuffs. But they will never forget the fact they had to lose to the USA. China won't be recognizable after these events of economic stagnation, disease and shortages are behind them. The nations around them better get locked and loaded.
,,,
The fallen angels have awakened 666
Lower growth is not stagnation.
What country does not go through disease? You can see the dip of the AIDS crisis on the death rate of the US in the late 1980s and early 1990s. And the disease was totally self inflected one sausage hiding session at a time. Of course liberals are trying to bring it back with DRAG Queen story time at libraries. Maybe Reformed Judaism sinagogues and libtard churches are trying to bring it back, too.
My advice is drop the tariffs and let the market decide the price of pork. Not Xi & Not Trump. Trump is not trying to dictate prices BTW. It will be good for the Chinese consumer, good farmers, and good for China & US.
If prices are still higher than the consumer paid in the past, well the market will correct. Brazil, Russia or somebody will step in, compete and lower prices.
We should get locked and loaded for Google and Facebook. They are as much existential threats as China. One has to look no further than the novel 1984 or the movie "Tomorrow Never Dies" Is the movie over the top? Maybe, but there is a kernel of truth there.
So novel. A 666 argument. Maybe someone should learn their numerology and history. Just cannot get out of that mental rut can you?!
What!!??
All this makes us stronger!! China will prevail and (all of us) become stronger because of it. Not a 666 issue but sort of is really if you think about it.
Try to imagine what the quarter century old US would look like if it had a quarter of the world's population to manage? China has gone through a lot of things over the millennia and yet it exists.
China is not a quarter of a century old. The current government/regime/dynasty is more than a quarter century old. It is 70 years old. They had some very nice celebrations.
If you are into what historians and political scientists ruminate about, you will see that they split American history into at least 3 different political eras.
I'm good with the last sentence.
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