Chinese buy Smithfield foods ??

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jasonleonard

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The largest pork producer in the US was sold to a Chinese group today. Hearing some reports that a much larger portion of smithfields' pork volume will be sent to China. Smithfield is 80 years old, they are huge here in the east....VA and NC.
You all think we will see more of these big US companies sold off to foreign interests?
Could this eventually help the us retail beef industry?
 
Shame that this country doesn't recognize that increasing taxes drives businesses elsewhere. Look for melamine and lead in your favorite bacon in a store near you
 
Chinese have been buying up lots of stuff in the USA for years -- pork processing to golf courses and resorts and ranches. I think the old Stewart Anderson ranch in our area is now Chinese owned.
 

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