China should stop hoarding food and fertiliser, says former World Bank chief
Summary
David Malpass, former World Bank president, told the BBC that China should stop stockpiling food and fertilizer to help ease a global supply crisis made worse by the war in Iran. He also questioned China’s claim to be a developing country and urged global support for resolving tensions around the Strait of Hormuz.Key Facts
- China holds the largest stockpiles of food and fertilizer in the world.
- China has stopped fertilizer exports since March to protect its own supplies.
- The war in Iran and the closure of the Strait of Hormuz have disrupted global fertilizer shipments.
- China presents itself as a developing country but is the world’s second largest economy.
- Malpass suggests China should give up its developing country status in international organizations like the WTO and World Bank.
- The Strait of Hormuz is a key route for global trade and its blockage harms many countries, including China.
- Malpass said the US economy shows resilience despite expected price increases.
- He called for international unity behind the US to resolve the Iran conflict and secure free shipping lanes.
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