Jay
2008-05-09 08:25:33
Big Al, Nealy one million Chinese are peasants living in villages with an annual income of between $300-$500 per year. Most villages are cut off from main roads and rail arteries. Corn is not a staple as it is in Mexico. It is so convenient for the biz press to explain away the speculation in commodities due to the Fed’s monetary “policy” by writing about how China is becoming a world player. Take a trip to the Chinese countryside to see for yourself instead of buying the bull in the NYT and WSJ.
By the way China has experimented with their own type of biofuels with large governmental subsidies and the experiment is a failure.
