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Friday, October 28, 2011

WalMart - China's Food Safety Scapegoat

Good article from the Economist explains what happened to WalMart, and Why.

China's change of leadership is in 2012, and many candidates are working hard to impress everyone.  So WalMart was a great, safe, big target that was made an example of for the mislabeling of pork, and was made into a Scapegoat.

Food safety in China In the Gutter- The Economist
An American firm is punished, but China’s food safety problems run much deeper

I did not know about Gutter Oil, wow.  With an estimated 20M Tons used annually. Its used cooking oil that is reused for cooking. And a reporter died investigating gutter oil (stabbed 10 times). The price difference between gutter and good cooking oil  per ton is $470 (3000 Yuan) vs. $1560 (10,000 Yuan).

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