China to Stand Firm on Tariffs and Embargos


According to David MacLennan, CEO of Cargill who met with President Xi Jinpin during  summer, China will not step down in the current trade war.


In an interview with Bloomberg, MacLennan quoted Xi as saying, “We are not going to stand down, this is a natural pride for my country and we are not going to be bullied.”


The U.S. Administration has made available $12 billion to compensate farmers for losses in 2018.  Given the prospect of a prolonged impasse, U.S. agriculture may be irretrievably harmed as exports markets will be lost and prices will be depressed beyond the 2018 harvest.


In recent years, Cofco Corp. a para-statal entity in China purchased a Dutch grain trader to establish expertise in international trade.  China is also actively engaged in “agricultural neo-colonialism” involving cultivation of crops in Africa dedicated to their requirements.