“What do American collateralized debt obligations have in common with Chinese dairy products?
For starters, both can be highly toxic. Collateralized debt obligations based on subprime mortgages have brought America’s economy to its knees. In China, dairy tainted with melamine was used to make infant formula that is now blamed for sickening 53,000 infants and killing at least four.
In addition, both can wind up in unexpected places, and do serious harm to consumers. Some of those exotic debt instruments wound up in very conservative, “ultra-short” US bond mutual funds, sparking declines, and on the balance sheets of far-off European and Asian financial institutions–threatening the same kinds of illnesses they caused in the United States, where they have decimated Wall Street.
The Chinese dairy products that sickened so many infants have turned up in Pizza Hut cheese in Taiwan, cookies in Macao, White Rabbit Creamy Candy and Cadbury chocolate all around Asia–even in instant coffee and tea in the United States…”
Read also some of David’s further thoughts on the subject as elaborated on his Complete Patient blog:
“… And then I read today in USA Today about a Chinese-American who started a large dairy in China several years ago, and has as one of his goals to export milk to the U.S. Take a look at the second to last paragraph, about how this dairyman seeks to become the first Chinese dairy to be certified by the U.S. Food and Drug Administration.
That may sound like a harebrained scheme, but I think we’ve all learned to take seriously the aspirations of Chinese businesses…and the receptivity of American regulators to such craziness. American apple growers learned about that the hard way some years ago—now more than half our apple juice comes from China. (If you’re smart, you don’t drink ordinary commercial apple juice, since it almost certainly contains juice from China.)…”
Read the entire commentary here on the Complete Patient blog, which I’m coming to realize is one of the world’s leading English-language sources of raw-milk-related news.