U.S. Drought Threatens Global Economy, Food Security, HSBC Report Warns

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“America’s worst drought for 25 years is threatening the global economy as it cripples the country’s grain production and sends the price soaring,” the International Business Times reports, adding, “According to a report by HSBC, bloated food prices loom over the global economy and present the temptation for governments to hoard produce” (Croucher, 8/20). “When food prices spike and people go hungry, violence soon follows, [scientists and activists] say,” Al Jazeera writes, adding, “Riots caused by food shortages — similar to those of 2007-08 in countries like Bangladesh, Haiti, the Philippines and Burkina Faso among others — may be on the horizon, threatening social stability in impoverished nations that rely on U.S. corn imports” (Kennedy, 8/21).

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U.S. Drought Threatens Global Economy, Food Security, HSBC Report Warns

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