Price Noodling Turns Spotlight on Food Cartels – Zhang Hao
From Caijing.com.cn:
Newly formed food cartels are stirring controversy by setting prices for a grocery basket of goods, ranging from noodles to milk, at a time when Chinese lawmakers are drafting new rules against monopolies.
Consumer outrage and government reactions to recent price increases for food have made headlines and prompted legal experts to predict dire consequences for price-fixing groups after the new laws take effect. In Lanzhou, a western city, local residents complained about a jump in prices for their favorite beef noodles — and the government listened. The official Xinhua News Agency reported in June that government agencies, including the local Administration for Industry and Commerce, decided to thwart cartel activity by imposing mandatory caps on noodle prices. [Full Text]
