Punishing Food Fraud in China – Part 1/2

August 14, 2011

This is how capitalism works. Wall Street Journal.com reports, “Ink, dye, bleach and toxic chemicals … have been found recently in food products in China, reigniting fears over food safety despite repeated government pledges to crack down on tainted eats.”

Sounds bad, but do not judge the Chinese before reading this entire two part series to find out that China is not alone in the struggle to make food safer to eat.

It isn’t as if China’s government is not trying to improve food safety. Al-Jazeera’s Melissa Chang reports from Beijing about China’s government vowing to improve food safety laws. In fact, according to Melissa Chang, more than 2,000 people across the country have been arrested for failing to meet food safety standards.

The Wall Street Journal says, “One of the biggest issues is the drive to make a buck at any cost, says Lester Ross, a Beijing-based attorney with U.S. law firm WilmerHale. Some companies see that by using additives, they can cut overhead costs or boost profit margins, and they merely aren’t thinking about the affects the additives will have on consumers, Mr. Ross says.”

Melissa Chang demonstrates how a chemical sauce to turn meats such as pork into beef can change any meat that isn’t beef into beef so the enterprising capitalist can charge more and increase profits.

Since living in China means awareness of such trickery, “Many Chinese,” Chang says, “pay a premium to know exactly where the food they eat comes from.”

Chang then talks about an organic food cooperative in the suburbs of Beijing, which was established by families to buy directly from organic farmers and the project has proven to be very successful.

However, Chang says, “Even the best intentions (may) go awry.” Organic in China doesn’t mean the food would qualify as organic outside China since so much of the air and water is polluted there.  It is a challenge to grow quality produce.

“Achieving better standards will take years,” Chang says.

However, what about food safety in the U.S.?

Continued on August 15, 2011 in Punishing Food Fraud in China – Part 2

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Lloyd Lofthouse is the award-winning author of The Concubine Saga. When you love a Chinese woman, you marry her family and culture too. This is the love story Sir Robert Hart did not want the world to discover.

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Global Blood Suckers

September 8, 2010

It looks like Goldman Sachs & Co is under attack from the two most powerful countries on the earth.

Recently, the SEC in the United States penalized the Wall Street firm $550 million to settle civil fraud charges.

Meanwhile, in China, a book called the Goldman Sachs Conspiracy has been published and is selling well.

“The nearly 300-page, highly dramatized account covers much of the same ground as a widely cited piece by Matt Taibbi last year in the Rolling Stone magazine that portrayed the Wall Street institution as a ‘a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.’ ” Source: The Huffington Post

The Young Turks reported that Golden Sachs conspired with John Paulson, who made $3.7 billion dollars in profits when the global economy collapsed and bought into Bank of America with some of that money becoming the bank’s fourth largest investor.

According to the Young Turks, Goldman Sachs set up clients, who lost billions while Sachs made billions from the clients’ losses. 

The Young Turks read one email from a Goldman Sachs’s employee, who calls himself the Fabulous Fab. “The whole building is about to collapse anytime now. Only potential survivor, the Fabulous Fab, standing in the middle of all these complex, highly leveraged, exotic trades he created without understanding all the implications of those monstrosities.”

The Young Turks say that there will be more court cases to follow the SEC case. Maybe China will also take a few Sachs employees to court using some of Sun Tzu’s strategies and put that well-known death penalty to use.

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Lloyd Lofthouse is the award-winning author of the concubine saga, My Splendid Concubine & Our Hart. When you love a Chinese woman, you marry her family and culture too. 

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China’s Fast Track Growth

February 13, 2010

Here’s more evidence that Robert Hart and Jack London were right when they predicted that China would be a super power again. These two Western men spent time in China, got to know the culture and realized the potential of the Chinese people.

Bullet trains, something the United States doesn’t have due to the national debt and partisanship between political parties more interested in who packs the pork barrel than running the country efficiently, have raced into China providing jobs for hundreds of thousands of Chinese and a faster, fuel efficient way to get around.

With the Lunar New Year and more Chinese traveling home than the population of Russia, another, fast, energy efficient means of public transportation was needed.  When the economy collapsed under President George W. Bush due to real estate, banks and Wall Street greed, the Democrats and Republican’s started pointing fingers at each other and throwing more debt around.

In China, where debt does not rule and the savings rate is 40%, instead of arguing and tossing blame about, the Chinese started working. Is this evidence that one political party is more efficient than two?

My thanks to Ian Carter for bringing the Chinese bullet trains to my attention–visit his Blog to “see” more of China, or discover why China is Studying Singapore

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Lloyd Lofthouse is the award-winning author of My Splendid Concubine [3rd edition]. When you love a Chinese woman, you marry her family and culture too. This is the love story Sir Robert Hart did not want the world to discover.

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