China Urged to Ease Global Food and Fertiliser Supply Strains
A former World Bank president has advised China to cease hoarding food and fertiliser to alleviate a worldwide supply crisis exacerbated by the conflict involving Iran.
David Malpass, who also served as Treasury Under Secretary for International Affairs under US President Donald Trump from 2017 to 2019, made these remarks during an interview with the BBC's World Service on the eve of the Trump-Xi summit in Beijing.
"They have the biggest world stockpile of food stuffs and of fertiliser," he said. "They can stop building their stockpiles."
His statements come amid global efforts to secure fertiliser supplies ahead of spring planting, with shipments severely disrupted by the closure of the Strait of Hormuz.
China itself has suspended fertiliser exports since March, citing the necessity to safeguard domestic supplies.
China's Developing Nation Status Questioned
Malpass, who led the World Bank from 2019 to 2023, also challenged Beijing's self-identification as a developing country.
"They present themselves as a developing country when they're the second biggest economy in the world and in many ways rich," he said.
"And yet they still have the pretence of being a developing country in the WTO and in the World Bank, and they could suspend that," Malpass added.
The BBC has reached out to the Chinese embassy in Washington for comment on these remarks.
Comments on Iran Ceasefire and Strait of Hormuz
Regarding the Iran ceasefire, which former President Trump described on Monday as being on "massive life support," Malpass emphasized the need for global unity behind the United States to seek a resolution.
"You can't have a rogue state with plutonium, and you can't block the Strait of Hormuz," he stated.
Malpass expressed hope that China would contribute to resolving the deadlock in the Strait of Hormuz, noting that the free movement of ships aligns with China's economic interests.
"China benefits from open waterways worldwide."
"They run the shipping lines, own the containers, and make huge profit from trade with the rest of the world. So, they would be a big loser if Iran in some way had control of the Strait of Hormuz," he said.
Economic Outlook for the US
Addressing the economic outlook for ordinary Americans ahead of the release of US inflation data for April, scheduled for Tuesday, Malpass predicted rising prices.
"I expect some up, yes, prices will go up on many products," he said.
However, he noted that strong employment figures indicated resilience in the US economy.
"Robust" jobs data showed the US economy was resilient.
