What is China doing so openly that the former World Bank chief said, “Stop this immediately.”

Beijing. China has once again come under the scanner amid the global food and fertilizer crisis. Former World Bank President David Malpass has accused China of hoarding food and fertilizers and said that it should immediately stop increasing its reserves. He said that this could help in reducing the supply crisis created across the world. David Malpass made this statement in the BBC World Service’s ‘World Business Report’ program.

Malpass served as President of the World Bank from 2019 to 2023. He previously served as Treasury Under Secretary for International Affairs from 2017 to 2019 under former US President Donald Trump. Speaking in Beijing just before the summit between US President Donald Trump and Chinese President Xi Jinping, Malpass said, “China has the world’s largest food and fertilizer reserves. It should stop constantly increasing its stocks.”

Indeed, the Iran war has impacted global supply chains. The closure of the Strait of Hormuz has severely affected the movement of fertilizer shipments. As a result, many countries around the world are scrambling to secure fertilizer supplies ahead of spring sowing. Meanwhile, China has banned the export of several types of fertilizers since March. China says it is taking this step to safeguard domestic needs. However, China has been gradually imposing various restrictions on fertilizer exports since 2021.

Last year, China’s share of global fertilizer production was approximately 25 percent. Its fertilizer exports totaled over $13 billion. Malpass also questioned China’s claim to be a “developing country.” He said, “China calls itself a developing country, even though it has the world’s second-largest economy and has become prosperous in many ways. Despite this, China still claims to be a developing country in the World Trade Organization and the World Bank. It should now abandon this status.”

However, China has denied these allegations. Liu Pengyu, a spokesperson for the Chinese Embassy in Washington, DC, said in an emailed statement to the BBC, “China is committed to maintaining the stability of the global food and fertilizer market. The real causes of the crisis in the global food and fertilizer supply chain are well known. China cannot be blamed for this. China is considered the world’s largest developing country, and there are sufficient facts to support this. Maintaining its developing country status is China’s legitimate right.”

Malpass also expressed concern about the issue of Iran and the Strait of Hormuz. He said, “No unstable country should have plutonium, and the Strait of Hormuz should not be closed.” However, he expressed hope that China could play a role in resolving the crisis. Malpass said, “China benefits greatly from open sea lanes around the world. China operates shipping lines, owns containers, and makes huge profits from global trade. If Iran somehow gains control of the Strait of Hormuz, China will also suffer huge losses.”