This is interesting, thank you for sharing. Is the main problem simply the reduced price of output (due to competition with large scale industrial agriculture), rather than other factors (such as potential increased costs of inputs, degraded soil quality, access to water).

> We've wrung all of the redundancy, both financial and biodiversity, out of the system.

I have similar concerns, not just about farming but other parts of a globalised economy. It is far more efficient to have everyone very specialised, with long-range dependencies. It is far less resilient to have one huge coupled economic system than a number of smaller, approximately independent systems. [+] Similarly, it's more efficient (in the short run, or the lucky case) to not leave any contingency or insurance against rare events.

> What happens if Chinese investors own half the farm land and we go to war with China?

I wouldn't worry about this one -- unless foreign investors have a means to enforce physical security of their ownership claims, there's always the option of the government with control over the physical assets to expropriate them, either by simply changing the law, or declaring special war time powers. For example, re: WW1

> the attack on enemy aliens and their property involved diverse institutions (governments, parliaments, the judiciary, armies and administrative bureaucracies) and actors (local businessmen and entrepreneurs, lobbies and interests groups but also ordinary people animated by patriotism or who saw in the attack on enemy property an opportunity to improve their own economic status).

https://encyclopedia.1914-1918-online.net/article/property_r...

edit: [+] to call myself out for claiming things based solely on intuition, it's not at all obvious that many smaller independent economies are necessarily always more resilient than a single arbitrarily structured large economy -- it might depend on the structure of dependencies, and how much choice there is for alternatives if subsystems fail, and how much slack is in the system, and dynamic factors. To argue in the other direction, smaller, isolated economies also tend to be at more risk of failure if any of their larger participants fails (see also: common wisdom about risk of buying real estate in small single company or single industry towns and so on...), so there's probably more robustness for those economies where the impact of failure of any single participant upon the overall system is roughly negligible. but i think there is usually a pretty strong conflict between efficiency redundancy.