» 03/22/2010, 00.00
Worst drought in a century wipes out harvests in southwestern China
Rainfall drops 80 per cent. About 51 million people face water shortages in Yunnan, Guizhou, Guangxi, Sichuan and Chongqing. Food prices hit the roof as speculators horde production. The danger of street protests increases.
Rising meat and rice prices spark fear in government about unrest among the poor
Some prices have doubled, even tripled in a month. Meat is getting scarce because of rural exodus and animal diseases. Premier Wen Jiabao urges action and greater government supervision.
With an eye on inflation, growth of Chinese economy slows
A growth of 9.5 in the second quarter (compared to 9.7 in the first quarter). Shanghai and Hong Kong stock exchange recover ground. But inflation remains at 6.4, prices for foodstuffs rose by 14%, pork 57%. Fears of social unrest. International Monetary Fund, Lagarde chooses the Chinese Zhu Min as vice-director.
Inflation fears as Chinese economy grows
Growth of 10.3% in 2010, The last quarter was 9.8, higher than expected 9.6. Inflation remains high, at 4.6. Curbing the growth of prices is the government's priority. Halt on bank loans and rising interest rates so far do not seem to have produced the desired effects.
Asian Development Bank: there is no food shortage
The bank says that there is only a problem of "poor distribution" of supplies, and calls on governments to lift export bans. But the FAO is afraid of having to suspend aid for millions of people, without new funds. The situation in China, India, and Pakistan.
Beijing to spend more on agriculture to curb inflation
The central government decides to pay farmers more money to encourage them to improve basic food production. This in turn is raising fears about social unrest across the country.
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