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.