China set to export corn, threatening global market: sources

Reuters ^

[ameribbean expat]

The U.S. Trade Representative, which negotiates with foreign governments, told Reuters the move by China would not be surprising "given the high levels of domestic support China provides to its corn producers."

"China's overproduction of corn has created a growing stockpile of corn that appears to have reached unsustainable levels," agency spokesman Matt Swenson said. "Chinese exports could negatively impact corn prices just as U.S. farmers are harvesting their crops."

U.S. officials will monitor whether Chinese exports may be subsidized, a prospect the agency finds concerning, he said.

Traders and analysts said exports have been increasingly likely as China struggles with a massive grain surplus and prepares to harvest a bumper crop, its first in almost a decade without government price support.

Chinese corn prices have slumped more than 20 percent in the past year and are expected to fall further towards international benchmarks.

[moehoward]

Actually I can. But since it appears to be an effort to change the subject rather than address the flawed premise bathroomthat while China is not (yet) a partner in TPP they can (and undoubtedly will) benefit from it.

[1rudeboy]

I was just wondering with which TPP countries China has a FTA, in order to take advantage of the “backdoor”-thing. Your premise, your subject.

[Mr. Jeeves]

I remember when the Chinese were starving.

They were starving because warlords and dictators wanted them dead. Same reason every famine occurs.

[moehoward]

China has agreements with most, and is negotiations with the rest. Only Japan and South Korea -for obvious reasons- will probably never come to fruition.

TPP is just a failed attempt to reign in China’s influence in the region. But it won’t, there’s nothing preventing any partner from importing an unassembled kit from China then exporting the assembled version as “Made IN XXXXX”.