Major company Smithfield Foods sells out to China
Well, it’s happened again, another major company has sold out to China. Smithfield brand has agreed to sell to Shuanghui (a Chinese company) the 77 year old company for an estimated $4.7 billion dollars. At a price like this, it is one of the biggest moves by a Chinese company into the US market to date.
It seems that every day there are more and more companies that are outsourcing to China but to sell the entire company to China is a new and growing phenomenon.
Not only are our jobs disappearing but now our food supply is actually being sold to the Chinese. What does that mean to the average American? It’s hard to say but one has to at least consider why China would want to have control over our food supply. It's a very sobering thought to realize that we are slowly selling off America and that fact that we have now sold off part of our food source is even more dangerous than any piece of real estate purchased by a foreign entity.
There is no secret why this move was made by Smithfield. The company will receive $34 per share which is a full 31% higher than the current market value of the stock at closing on Tuesday. The deal is said to give Smithfield who is one of the world’s biggest pork producers entryway into China. China does have more than 1,354,040,000 people to feed which is 4.3 times more than the US.
The question is what will happen to our food supply? Will the products that were feeding US citizens now go to a foreign country? Will we start to experience higher food prices or worst yet, FOOD SHORTAGES? While it is unclear exactly what will happen, you can be assured that it is not a good day when one of the biggest pork producers in the world sells out to a communist country that has been in a trade, computer, and intellectual properties war for years and now takes our food supply.
So what is your food supply like, we hope for your sake you are watching what is going on around you.