Beijing to boost pork production to offset inflation
This final note on the way out today, an apropos statistical follow up to our China theme this Wednesday — the problems unrestrained growth can present.
The Chinese government announced today the economy slowed just a hair last quarter. All the way down to 9.5 percent. Which gets us to the problem: The inflation that growth like that brings, especially in food prices.
But Beijing’s got a solution: Grow more pigs. The government announced today it’s going to invest almost $400 million in pork production and try to bring down the price of what is basically a staple food there.