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

Tennessee Lawmaker Seeks Impeachment Of Vice President Harris

According to The Hill, Rep. Andy Ogles (R-Tenn.) has officially filed impeachment articles against Vice President Kamala Harris. These charges accuse Harris of incompetently managing…
7 hours ago
 • By Benjamin Clark

Shooting At Trump Rally Leaves One Dead, Two Injured

In a shocking incident, a gunman opened fire at a rally in Butler, Pennsylvania, leaving former President Donald Trump wounded and two others severely injured.…
7 hours ago
 • By Benjamin Clark

Clint Eastwood's Longtime Partner Christina Sandera Dies At 61

Christina Sandera, the longtime partner of Hollywood icon Clint Eastwood, passed away at the age of 61 due to natural causes related to heart disease…
8 hours ago
 • By Benjamin Clark

Ella Emhoff: Rising Figure in Fashion and Activism Amidst Political Turmoil

Ella Emhoff, Kamala Harris's stepdaughter, has stirred considerable public interest with her candid endorsements and personal expressions intertwined with major US political dynamics. According to…
8 hours ago
 • By Benjamin Clark

New York Confronts Missouri’s Supreme Court Plea In Trump’s Hush Money Case

CNN reported that New York Attorney General Letitia James strongly opposed Missouri's petition to the Supreme Court concerning President Donald Trump's hush money case. Missouri…
8 hours ago
 • By Benjamin Clark

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