Former World Bank Chief Calls on China to Release Food and Fertiliser Stockpiles
BBC Business reported Monday that former World Bank President David Malpass is calling on Beijing to draw down what he describes as the world’s largest combined food and fertiliser reserves. Malpass made the remarks in an interview with the BBC’s World Business Report on the eve of the Trump-Xi summit in Beijing.
A Global Supply Squeeze Drives the Pressure
Countries worldwide are racing to secure fertiliser before spring planting seasons begin. The root cause is the closure of the Strait of Hormuz, which has severely disrupted shipments of key agricultural inputs. Making conditions worse, Beijing halted its own fertiliser exports in March, citing domestic supply concerns. Malpass argued that China’s behaviour amounts to deliberate stockpiling at a moment of acute global need. He told the BBC that Beijing has both the capacity and the responsibility to stop accumulating reserves and allow more supply to reach international markets.
China’s Developing-Nation Status Under Fire
Malpass also renewed a longstanding critique of China’s self-classification within multilateral institutions. He argued that the world’s second-largest economy can no longer credibly claim the trade and lending concessions extended to developing nations through bodies such as the World Trade Organization and the World Bank. He suggested that Beijing voluntarily suspending that status would be a meaningful gesture of good faith.
Background: Malpass, the World Bank, and the Iran Crisis
Malpass led the World Bank from 2019 to 2023 and previously served as Treasury Under Secretary for International Affairs during Donald Trump’s first administration. His comments arrive as the Iran conflict continues to strain global commodity flows. The Strait of Hormuz, a critical chokepoint for oil and goods, remains contested. Trump described an Iran ceasefire on Monday as being on what he called “massive life support.” Malpass urged the international community to back a US-led push for resolution, warning that no country can tolerate a scenario in which a single state controls the waterway.
China Has Economic Reasons to Act, Malpass Says
The former bank chief argued that China’s own commercial interests align with keeping global shipping lanes open. He noted that Chinese firms operate major shipping lines and container fleets, and that Beijing profits enormously from frictionless global trade. A prolonged Hormuz closure would therefore hurt China as much as anyone. On the broader US economic picture, Malpass told the BBC he expects April inflation data, due Tuesday, to show price increases on a range of consumer goods, though he noted that strong jobs figures point to underlying resilience in the American economy.
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