In 2012, China imported 2.6 million tons of rice in 2012, or a four-fold increase over 2011. China appears to be stockpiling rice because there has not been any rice shortages in China. If a 400% year-over-year increase in rice stockpiles isn’t enough to convince you the Chinese are preparing for a significant near-term event, consider what is happening with Australia’s two major baby formula distributors – Who have reported they are unable to keep up with Chinese demand for their dry milk formula products.
In addition to the apparent build-up in food stocks, the Chinese are further diversifying their cash assets. In addition, the Chinese aren’t just buying precious metals. They’re rapidly acquiring industrial metals as well.
Where there is smoke, there is fire and it appears that China is getting ready for something major.
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