In the biggest acquisitions ever of a US company by a Chinese one, Shuanghui International Holdings has agreed to buy Smithfield Foods Inc, the world's largest producer of pork. It's a fascinating purchase, and not just because of its huge size and the involvement of bacon. The deal is the most visible manifestation of a smorgasbord of trends, the LA Times observes. Trends like...
- China Demands Meat. Tastes are changing in China, with the burgeoning middle class hungry for the flesh of mammals. Back in 1978, the US ate three times as much meat as China; now, China eats twice as much meat as we do. (Although, remember, China's population is huge, so America is probably ahead per capita.)