BY George C. Upper III, The Western JournalMarch 15, 2023
1 year ago
BY 
 | March 15, 2023
1 year ago

CEO of Largest US Pork Producer Says Being Acquired by a Chinese Company Has Led to 'A Really Successful Relationship'

As federal and state legislators express increasing concern about Chinese ownership of American companies and land, one American company acquired a decade ago by a Chinese firm tried to push back this week.

Shane Smith, CEO of Smithfield Foods Inc., told The Wall Street Journal in an interview published Tuesday of dealing with Chinese owners, "It’s been a really successful relationship."

Chinese pork company WH Group Ltd. bought Smithfield, America's largest producer of pork products, in 2013 for $4.7 billion.

Some lawmakers say that Chinese ownership of U.S. companies and real estate not only endanger the nation's food supply, but also may provide access for China to spy on the U.S.

Smith, who has been CEO for two years, disputed those claims, praising WH Group for helping Smithfield increase production and sales as well as for hiring more U.S. workers.

“We’ve been able to collaborate on things like introducing an American-style bacon into China,” he told the Journal.

The company is looking to expand into other meat products at some unspecified time in the future, Smith said.

Smithfield, founded in 1936, already slaughters about 30 million pigs annually and distributes the results under its own name as well as the Armour, Farmland and Nathan's Famous brands.

The purchase of the company by Chinese WH Group set off alarm bells in Washington 10 years ago, according to the Journal, but the deal was allowed to go through.

Now, however, with America's relationship with China on a decidedly downward slope, similar concerns have resurfaced -- with a vengeance.

"U.S. national-security officials have pointed to technology and equipment made in China or owned by Chinese companies that they warn could be used to carry out espionage, including Chinese-made cranes in U.S. ports," the Journal reported. "Espionage concerns deepened last month after a suspected Chinese spy balloon was identified in U.S. airspace and shot down."

China has since come to own about 350,000 acres of U.S. farmland -- a total area amounting to a little larger than a third of the state of Rhode Island. About half of that amount consists of Smithfield-owner property, according to federal data cited by the Journal.

Some legislators have begun calling for prohibiting further sales of agricultural land to Chinese-owned companies.

“From purchasing fields and pastures to gobbling up companies like Smithfield, Chinese influence in American agriculture means that China’s needs, not America’s, come first,” Arkansas Sen. Tom Cotton told the Journal in an emailed statement.

Smith said that since becoming CEO, he's had to spend a lot of time meeting with D.C. officials about the issue.

“It’s a different environment than it was in 2013," he said.

That difference, however, has nothing to do with Smithfield Foods, he claimed.

“We’re as American today as we were in 2013,” he told the Journal. “When you meet with politicians and have those discussions, they seem to understand that.”

This article appeared originally on The Western Journal.

Written by: George C. Upper III, The Western Journal

NATIONAL NEWS

SEE ALL

U.S. Expands Migrant Parole Program to Several Nations

The Department of Homeland Security disclosed that between January and August 2023, it sent over 200,000 migrants under a controversial parole program to 45 cities…
22 hours ago
 • By Staff Writers

Michael Cohen's Online Actions Create Uncertainty In NY Vs. Trump Trial

According to Andrew McCarthy's comments on Fox News Digital, legal observers are stunned, as Michael Cohen, a key witness in the case against Donald Trump,…
22 hours ago
 • By Staff Writers

Former President Trump Fined $9,000 For Gag Order Violations Amid Hush-Money Trial

According to Daily Wire, Former President Donald Trump accused Judge Juan Merchan of "rigging" the 2024 election after receiving a $9,000 fine and a jail…
23 hours ago
 • By Staff Writers

Representative Greene Moves To Oust Speaker Johnson Amid Political Strife

Fox News reported that two House Republicans, led by Rep. Marjorie Taylor Greene from Georgia, are initiating a vote to oust Speaker Mike Johnson just…
23 hours ago
 • By Staff Writers

New York Attorney General Sued By Christian Pro-Life Groups Over First Amendment Rights

Christian pro-life pregnancy resource centers and organizations have sued New York Attorney General Letitia James following her threats to sue them for alleged false advertising.…
23 hours ago
 • By Staff Writers

DON'T WAIT.

We publish the objective news, period. If you want the facts, then sign up below and join our movement for objective news:

    LATEST NEWS

    Newsletter

    Get news from American Digest in your inbox.

      By submitting this form, you are consenting to receive marketing emails from: American Digest, 3000 S. Hulen Street, Ste 124 #1064, Fort Worth, TX, 76109, US, http://americandigest.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact.
      Christian News Alerts is a conservative Christian publication. Share our articles to help spread the word.
      © 2024 - CHRISTIAN NEWS ALERTS - ALL RIGHTS RESERVED
      magnifier