Wednesday, September 26, 2007

China's Inflation Is a Mooncake Walk

Inflation eats into China's mooncakes
Producers of mooncakes have found themselves in a bind. As China's food prices have soared, the cost of raw materials to produce the cakes has increased by 15-30% too. But worried that surging prices could touch off unrest across the country, the government has issued stern edicts warning against price gouging and dictated that the prices of the traditional treat should be kept stable.

The Chinese press has reported about resourceful producers in the central city of Zhengzhou who came up with mooncakes made of silver and adorned with 56 precious stones selling at a price of 6,900 yuan (US$920).

Not to be outdone, their counterparts in the northern city of Changchun produced a 1,800-yuan mooncakes box containing also a golf club, while mooncake makers in Yunnan province have also managed to pack a digital camera in with the traditional pastries.

Here's a view of what one hundred people can do (Japanese style). I'm not so sure it would be funny if a billion people did it though.

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