The rising cost of food that has benefited agriculture exchange traded funds (ETFs) seems to have led to a squabble between India and the United States over who’s to blame.
Indian politicians, economists and academics are upset that top U.S. officials have said India’s growing prosperity is the reason for food inflation, reports Heather Timmons for the New York Times.
India countered that Americans should rethink their energy policy and go on a diet.
Zing!
One official said that if Americans slimmed down to the weight of middle-class Indians, many people in sub-Saharan Africa would find food on their plates.
India isn’t the only country being blamed for the rising cost of food. China has been fingered as a source of greenhouse gases and rising commodity prices, as well. Many emerging markets that have seen a growing middle class in recent years are slowly adopting more Western diets (which is probably just a nicer way of saying "burgers, fries and milkshakes").