A top economist at Zurich-based bank UBS was forced to apologize after making reference to a “Chinese pig” during a morning audio briefing
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A man rides a motorcycle carrying a halved pig's carcass in the Sanya City district of Sanya, Hainan Province, China..to explain himself. “I made a mistake and I unwittingly used hugely culturally insensitive language.” Adding, “I apologize publicly for that.” Donovan was forced to backtrack after attributing the rise in Chinese consumer prices to sick pigs in his daily economics audio post. “Does this matter?” he said. “It matters if you are a Chinese pig. It matters if you like eating pork in China.
China is struggling to contain a major outbreak of African swine fever that has sparked a hike in food inflation. China’s National Bureau of Statistics reported that in May 2019, the consumer price index went up by 2.7% year-on-year. Food prices have risen by a massive 7.7%, and the non-food prices increased 1.6%.
China has already culled 1.2 million pigs since the outbreak of the epidemic in August 2018, but the virus has since spread to neighboring Vietnam, Mongolia and Cambodia. Agriculture analysts at Dutch bank Rabobank warned that China’s pork production could drop 30% this year over fears that 200 million pigs could die or culled as a result of the epidemic.
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