"The global financial crisis should not make us forget the food crisis," Food and Agriculture Organization head says. Photo Credit: By Lai Seng Sin -- Associated PressFinancial Meltdown Worsens Food Crisis -- Washington Post
As Global Prices Soar, More People Go Hungry
SHANGHAI -- As shock waves from the credit crisis began to spread around the world last month, China scrambled to protect itself. Among the most extreme measures it took was to impose new export taxes to keep critical supplies such as grains and fertilizer from leaving the country.
About 5,700 miles away, in Nairobi, farmer Stephen Muchiri is suffering the consequences.
It's planting season now, but he can afford to sow amaranthus and haricot beans on only half of the 10 acres he owns because the cost of the fertilizer he needs has shot up nearly $50 a bag in a matter of weeks. Muchiri said nearly everyone he knows is cutting back on planting, which means even less food for a continent where the supply has already been weakened by drought, political unrest and rising prices.
While the world's attention has been focused on rescuing investment banks and stock markets from collapse, the global food crisis has worsened, a casualty of the growing financial tumult.
Oxfam, the Britain-based aid group, estimates that economic chaos this year has pulled the incomes of an additional 119 million people below the poverty line. Richer countries from the United States to the Persian Gulf are busy helping themselves and have been slow to lend a hand.
Read more ....
My Comment: Money has always ruled the world .... and it always will. What we see now are how different government's are reacting to this crisis. The Continent that will be affected the most will be Africa. With policies like Zimbabwe's being the rule rather than the exception on the continent ..... hunger and the possibility of famine will be rearing its ugly head in the months to come.
The instability and crisis environment will be the result .... a perfect storm that will only help to spread conflict, mass refugees, and war.