China
Much ink and many pixels have been wasted, in my opinion, on rants about people other than U.S. farmers owning farmland. Surprisingly, critics are just as hard on wealthy Americans as foreigners.
Officials in China now say the population sits at 1.4 billion, which came as a surprise to many economists and market analysts. The news draws concerns about what it means for demand both short- and long-term.
China, the top food importer on the planet and biggest buyer in history, is entangled in a potentially devastating population crash and the effect could be massive for U.S. agriculture.
If the nation’s debt hits $31.4 trillion—it’s on track to do so by this Thurs.—the Treasury will need to take “extraordinary measures” to help pay the government’s operations and ward off a historic default.
Demand concerns have been intensifying with the spike in Covid numbers in China. That’s been sending a negative tone across the energy sector, equities and portions of the ag markets.
China’s state-owned grains trader COFCO said a new joint venture it has set up with state stockpiler Sinograin to manage the country’s grain reserves will officially begin operations next month.
Export tariffs on aluminum and aluminum alloys will be raised. The current import tariff will stay on seven types of coal until March 31, with tariffs adopted for most favored nations from April 1.
AgWeb is counting down the top 10 stories of the year. At No. 8, and originally posted on Aug. 3, Fufeng Group bought 300 acres of land in North Dakota and the proximity to a U.S. military base has many concerned.
Taiwan’s defense ministry said China sent 71 warplanes and seven naval vessels on “strike drills” — rehearsals for conflict — into its air-defense zones.
There has been a widening gulf between the official numbers and anecdotal evidence of spiraling infections on the ground.