Reducing Chinese export dependency: an own goal

In October, Will Hutton said this about China’s economic model:

[It] is built on sky-high saving and phenomenal export growth

The by-line for the same article was:

As America and China square up, the chancellor is ignoring the bigger picture with his ill-advised spending review

But nevermind the CSR, the House of Commons yesterday missed the chance to set a strategic limit on our reliance on imported soy, through the Sustainable Livestock Bill.

One part of China’s “phenomenal exporting” is soy; indeed phenomenal is an understatement:

China, the largest soybean consumer, may import more than a forecast 46 million metric tons of the oilseed this year on increased demand for vegetable oil and animal feed and amid plunging soybean oil shipments.

Granted, there is more than one way of curbing dependency on Chinese exports, but opposition to the bill noted it’s “red tape” – that’s pretty lame, given the need for sustainability and the durability of the planet.

Plus, missing out on a clever way to promote maximised livestock production in this country – which the bill was set to do – will probably be another own goal.

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