Drought Threatens More Than 11.3 Million Hectare Crops In North China

`` Since I first reported that *****Northern China hit by worst drought in 50 years***** back on February 2nd, nothing has changed. China is still downplaying the drought’s effects, and Chinese food inflation is guaranteed to stay elevated as the drought impacts grain availability. Once the scale of 2009’s global food shortage becomes apparent, Chinese authorities will be under enormous pressure to drop the dollar peg.''