TRANSFORMING CHINA: WILL A MODERNIZED CHINESE AGRICULTURE UNDERCUT U.S. CORN AND BEAN SALES?

摘要

A growing wave of soybean imports appears to make China increasingly dependent on U.S. supplies. Last market year, one out of every four rows harvested was bound for China. In the new market year, nearly two out of every three bushels of soybeans soldby U.S. exporters has a Chinese destination. China produced fewer than 500 million bushels (mbu) of soybeans but imported 2.1 billion bushels -a record 895 mbu of which came from the U.S. Meanwhile, U.S. corn farmers have finally begun to see long-anticipated corn sales into China. But could this change? Could current efforts to modernize its farm sector make China less import-dependent?