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Why does China own so much land in Ukraine?

2022-07-01 20:14:59Biznes SHKRUAR NGA REDAKSIA VOX
Why does China own so much land in Ukraine?
Why does China own so much land in Ukraine?

The Wall Street Journal warns that Russia's invasion of Ukraine is causing global hunger and a spike in food prices, and that future disruptions in supply chains will lead to even more misery.

Elisabeth Braw, a researcher at the American Enterprise Institute, warned that many countries are realizing they need to farm more land to provide food. However, they are doing what Ukraine has already done by selling most of its best agricultural land to China to use to feed its population.

According to her, China bought almost a tenth of Ukraine's arable land. She adds that the countries involved should be wary of those who want to buy farmland, as they do with potential buyers of sensitive technology.

She pointed out that in recent years, the Chinese have bought agricultural land in different countries, from the USA, France, Vietnam, to Ukraine.

In Ukraine specifically, in 2013, Beijing bought 9 percent of fertile agricultural land, which is equal to 5 percent of the country's total territory, on a 50-year lease. Between 2011 and 2020, China bought nearly 7 million hectares of farmland worldwide.

Braw says that through April, wholesale food prices were up 18 percent from a year earlier as a result of Russia's invasion of Ukraine.

It was the biggest 12-month increase in almost five decades, it said. She suggested that China would like to buy more foreign land, given that it has about 21 percent of the world's population but only 7 percent of productive agricultural land.

The researcher noted that the fate of Ukraine draws attention to the danger of another country managing a part of one's territory. While Kiev may be wary, given that Russia's ally controls its territory, it must also worry that China could suddenly relinquish its holdings, exacerbating Ukraine's economic woes.

She referred to a US bill that proposes to bar Chinese, Russian, Iranian and North Korean companies from buying US farmland. She said such surveillance should be accompanied by efforts to buy land from China and any other strategic rivals, because allowing hostile powers to own farmland has become too dangerous.

At the end of the text, she warned that the demand for arable land will increase with climate change. At the same time, geopolitical confrontation will lead to further disruptions in food supply chains.


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