Former World Bank President David Malpass has called on China to cease stockpiling food and fertiliser, arguing the practice undermines global food security and inflates prices for developing nations already struggling with inflation.
Malpass also contested China's classification as a developing country, stating the claim lacks credibility given Beijing's economic status and global influence. China has long maintained developing-nation status within international institutions, a designation that allows it preferential treatment in trade negotiations and climate agreements.
The comments reflect mounting pressure on China over its resource hoarding during periods of global scarcity. Beijing has built massive reserves of grains, fertiliser, and other commodities in recent years, partly as a strategic buffer against supply disruptions. However, critics argue these stockpiles exacerbate shortages and price spikes in poorer countries dependent on global markets.
Food inflation remains a persistent crisis across the Global South, with fertiliser costs directly impacting agricultural yields in Africa, South Asia, and parts of Latin America. The World Bank and IMF have flagged resource nationalism and hoarding as obstacles to economic stabilisation.
Malpass's remarks carry weight given his recent tenure leading the World Bank through the pandemic and subsequent economic turbulence. His criticism targets both Beijing's resource strategy and what he views as an outdated classification that granted China outsized influence in multilateral institutions despite its status as the world's second-largest economy.
China has not formally responded to these claims, though Beijing historically defends its developing-nation status by citing rural poverty rates and per-capita income metrics relative to Western nations. The dispute underscores deeper tensions over how global institutions categorise economic power in an increasingly multipolar world.