China Wastes 35 Million Metric Tons of Grain a Year-Enough to Feed 200 Million - 1 views
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Srikanth L on 20 Oct 1410% of China's land is arable. In this percentage, a tons and tons f grain is produced. Over the years, due to shifts in non-price determinants of either demand or supply, the equilibrium of the grain market has been disturbed. The market, has not been able to adjust to a new equilibrium hence there is an excess supply of grain which is going waste. China needs to apply the price mechanism to attain an equilibrium, and stop a surplus from being produced.