China buys America’s largest pork processor

Last month China’s largest meat processor, Shuanghui International Holdings Ltd., agreed to pay USD $4.7 billion to acquire Smithfield Foods, Inc., the world’s largest hog farmer and processor. The deal is the biggest Chinese takeover of an American company in history. The mega-pork deal immediately caused hand-wringing and outrage among Americans who fear growing Chinese dominance in the global economy. However, many analysts grudgingly agree the deal will be good for Smithfield, go