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Chinese Company Buys Smithfield Foods for 4.7 Billion: Pending Bacon Collapse?

Zachary Slobig

Remember all that talk of a pending global "bacon crisis" last year? Earlier this week the Chinese company Shuanghui International Holdings Ltd. agreed to purchase Smithfield Foods (the world's largest pork producer) for a sum that's considerably higher than its current value. China gets to secure safer pork for its increasingly meat-hungry population—recent stories of diseased pork sales there linger. And with U.S. meat eating falling consecutively for several years, no better time to go veg?

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