China Stocks

[PeterD]

In China, Fear of Fake Eggs and ‘Recycled’ Buns

All of those opposed to government regulation; the FDA, the EPA, etc., who believe that capitalism and the markets will self-correct and take care of the public interests should read the following from the NYT.

http://www.nytimes.com/2011/05/08/world/asia/08food.html?_r=1

Food, drugs, the RTO process, they are all the same in the PRC. Some people will naturally do what they can to make a buck (as people will most certainly do anywhere without controls).

I find it highly ironic that in the PRC capitalism runs amuck, while in the US we have at least some regulatory safeguards in place to be sure the public interest is protected (Although China seems to be much more serious about clean energy, and over here about half the population wants to dismantle what protections we have).

The upcoming fight over Elizabeth Warren and the Consumer Financial Protection Bureau will offer insight into how serious the US actually is about the public interest.

Anyway, fascinating article.

"In recent weeks, China’s news media have reported sales of pork adulterated with the drug clenbuterol, which can cause heart palpitations; pork sold as beef after it was soaked in borax, a detergent additive; rice contaminated with cadmium, a heavy metal discharged by smelters; arsenic-laced soy sauce; popcorn and mushrooms treated with fluorescent bleach; bean sprouts tainted with an animal antibiotic; and wine diluted with sugared water and chemicals.

Even eggs, seemingly sacrosanct in their shells, have turned out not to be eggs at all but man-made concoctions of chemicals, gelatin and paraffin. Instructions can be purchased online, the Chinese media reported."