6 years ago1,000+ Views
China's largest meat producer has purchased Smithfield Foods (known for former-spokeswoman Paula Deen) for $5 billion dollars. Shanghui International will now control about one fourth of the US pork market. The reason for the purchase is ostensibly the growing demand and stagnating supply of pork in China. But there has been speculation that the Chinese would like to dominate the US pork market and then integrate its technology into China. Eventually, they would export pork back to us and profit off of our innovations! Personally, I agree with Smithfield CEO Larry Pope, who maintains that China just wants to help mitigate its water shortages and growing appetite for meat.
@blackmage could you elaborate on what you mean by 'nostradamus'
@curtisb nostradamus did.
@blackmage You are right now, but who can predict what things will look like in 20 years?
@curtisb what I mean is that there are no Chinese companies that are selling products at a high price than any other company in their respective industries.
No I haven't, do you have any examples? I was more thinking long-run
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