But markets for commodities are global, and the risk of any one consumer cornering supplies, or securing them at a lower price, is negligible.Own goalThe worst fallout from China's quest for natural resources will be seen not in the countries they come from, nor in the countries that are competing for supplies, but in China itself.
Washington contends that such a requirement is appropriate for bioengineered seeds, bacteria or animals that are released into the environment, but not for commodities like wheat and corn that are eaten or processed, since they are not released into the environment.
But Chinese demand for commodities, and its investment in energy or mining projects, can be seen locally as a form of colonialism.
But as demand for commodities like beef and soy edged back up in 2010, deforestation levels doubled from those in 2009.
That looks bearish for very expensive bonds, but positive for commodity prices.
Mr. Elman voiced optimism about the future of the Chinese economy and of worldwide demand for commodities, but cautioned that for some commodities, "the futures prices have gone ahead" of the prices for physical delivery.
Mr. Brynjolfsson is confident about the long-term prospects for commodities but conceded that this might not be the best time to buy.
But the growing demand for commodities in Asia is encouraging mining companies to dig deeper and faster than ever before near established communities like Moranbah, requiring thousands more workers than local towns can supply.
He also said the Bank could "look through" the temporary disinflationary impact on inflation from lower demand in China for commodities but would watch for any longer-lasting impact on Britain from a slowing of the world's No 2 economy.
Mining shares are among the biggest losers on the FTSE 100 on continuing concerns about the strength of the global economy and thus demand for commodities, but BAE Systems has climbed 1% to 481.2p after saying it had made a good start to the year.
