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-Lurid Crime Tales-
Chinese price fixing plot hits the noodle bowl
2007-08-10
Fans of China scandal stories are gonna slurp this one right up ...
Food is a sensitive issue in China nowadays. With prices up by double-digit percentages from a year ago for a range of everyday edibles from pork to eggs, the authorities are worried about the effects on social stability.

Now they may take action against an organization that stands accused of artificially raising the price of one of the basic staples of the working class: instant noodles. The Chinese chapter of the International Ramen Manufacturers' Association could be banned for allegedly manipulating the retail price of 95% of instant noodles on the market in the country.

Mainland media and bloggers have accused the association of organizing three rounds of discussions in the past few months among instant noodle manufacturers on retail prices.

Hao Jiguang, a lawyer from Hebei province, has appealed to the National Development and Reform Commission to investigate whether the Chinese branch of the instant noodle association has illegally fixed prices of the popular food. The lawyer has also appealed to the Ministry of Civil Affairs to ban the branch if it is recognized as an illegal civil organization, The Beijing News reported Wednesday.
lurid details at the link
College students throughout North America will starve this fall.
Posted by:lotp

#4  Wheat prices have more than doubled in the last 2 years. Sounds like the Chinese are looking for a Japanese (Ramen Manuf Assoc) whipping boy.
Posted by: ed   2007-08-10 15:12  

#3  Instant noodles are about 10 cents a pack in China, when bought in six- or eight-packs. I fail to see how you can make 'em for less.
Posted by: Zhang Fei   2007-08-10 13:31  

#2  sounds like Chavez or Mugabe's problems....
fiddle with a "free market" and you get high prices for a myriad of reasons that will seem invisible to anyone who doesnt "work" for a living,
IE: Politicians
how can they be expected to understand the real complexities of an economy if they only deal in theory from outside the marketplace?
I delight in hearing about this :)
Posted by: Chiter Dark Lord of the Geats7878   2007-08-10 12:16  

#1  That sounds about as safe as screwing with the price of tortillas in Mexico.
Posted by: bigjim-ky   2007-08-10 11:23  

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