High food prices around the world? Blame — at least in part — the investors who moved their money into commodities in the past five years, looking for better returns than they were getting from stocks and bonds. Global investment funds saw the potential for profits in commodities outstripping those from the stock market, and from 2002 started diving into oil.
Food prices are soaring, a wealthier Asia is demanding better food and farmers can’t keep up. In short, the world faces a food crisis and in some places it is already boiling over. Around the globe, people are protesting and governments are responding with often counterproductive controls on prices and exports.
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/ 22 December 2007
A dilemma confronts many Democratic activists in the United States. They respect Hillary Clinton’s intellect. They admire her performance in the debates. But it is difficult for them to commit to a candidate who not only voted in favour of the war on Iraq in 2002, but has refused to express contrition, or any deep emotion, about that choice.