Earthquake Will Boost Chinese Inflation Rate
May 21st, 2008 | By Contrarian Profits | Category: Featured, Financial NewsThe recent devastating earthquake in China will push record food prices in the country even higher. However, experts say the earthquake will not slow economic growth.
“There will be less supply of pork, less supply of rice,” said Sun Mingchun, a Hong Kong-based economist at Lehman Brothers Holdings, speaking to Bloomberg. “It’s not causing supply to decline drastically but it is definitely less. The impact on inflation is more than its impact on growth.”