U.S. Drought Threatens Global Economy, Food Security, HSBC Report WarnsBy Kaiser GH Update
“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