Smithfield Foods Sale to Chinese Outfit Unsettling
By: NANCY SMITH | Posted: May 31, 2013
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.
No comments:
Post a Comment