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Saturday, June 1, 2013

Smithfield Foods Sale to Chinese Outfit Unsettling

Smithfield Foods Sale to Chinese Outfit Unsettling

By: NANCY SMITH | Posted: May 31, 2013Nancy

This sale of American pork giant Smithfield Foods to massive Chinese meat producer Shuanghai is just a little bit creepy, don't you think?

At the least it's a frightening reminder of the trend toward a globalized trade in the food we eat.

At the most it's an out-and-out national security risk.

Allegations of maggots, excessive bacteria and illegal additives have plagued Shuanghui, China's biggest meat products company, since at least 2011, according to a series of reports by China's state-run media.

The Wall Street Journal reports that both buyer and seller are so sure this week's $4.7 billion deal isn't scary that they opted for it to be reviewed by CFIUS, the government’s foreign investment review committee. Pork and bacon a threat to national security? Don't be ridiculous, say these food behemoths.

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