What’s Wrong With this Story of Economic Growth?
Friday, 1 June 2007
China becomes the factory of the world, and the
ensuing flurry of economic development
creates new demand in China for oil and gas, and this
raises fuel prices, which in turn
causes the U.S. to turn to corn for biofuels, which in turn
causes corn prices to rise, which then
raises animal feed prices, which in turn
causes pork prices to rise, which causes
unrest in China.
Answer here.
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