Phrase of the moment: "emergency pork"


China is gripped by a pork shortage because of an epidemic of African swine fever.

China’s hog herd is down (more than 30%) and prices are up.

The government is in a panic because food prices can drive social unrest and anti-government protests. (Totalitarianism is fine, just keep prices down.)

The Chinese government is ready, and keeps huge stockpiles of frozen pork (more than a million tons) for emergencies, which it is now selling at 10% below the market price. Call it “emergency pork.”

This is not a good time for China to be engaged with a trade war with the United States.