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A County in China Sees Its Fortunes in Tea Leaves Until a Bubble Bursts
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Tags: China,
The Dutch had their tulip bubbble, the Chinese have their Pu-er tea bubble which has just burst. It was a pure speculative bubble with speculators cornering the market and bidding up the price of tea in Yunnan province on the Burmese border. From 1997 to 2007 the price of these green tea leaves from Yunnan- that make a fermented brew called Pu-er- wentup from $15 to $150 a pound. Actually a group of manipulative buyers drove prices up. Production doubled from 2006 to 2007 to 100,000 tons. Unlike other teas this tea is said to grow better with age and is packed into compressed cakes for transport. Now prices of this tea have collapsed to $3 a pound. Russia had its own experiment with unbridled capitalism, now China is struggling with the effects of the aftermath of its own unbridled capitalism.
Signals such as the wine price bubble and the bubble developing in China
01/17/2009
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The Granddaddy of All Bubbles?
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Bubbles developing in many countries in 2010-2013
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China being the largest bubble developing in mid 2010. The other bubbles developing in Brazil, Canada, India, and Australia.
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Central Bankers Hone Tools to Pop Bubbles
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Canada Grapples With Housing Bubble Risk
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Where Will the Next Financial Bubble Be?
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China's looming asset price bubble in late 2009.
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The role of the yuan pegged to the dollar in all this. The need for action to let the currency appreciate now rather than later.
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Fixing a Perception Gap for the Underappreciated G-20
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An Accord (and Lessons) to Remember
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Three Hurdles for China in the Year of the Tiger
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China has its own Dutch tulip type bubble- in Pu-er tea!
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The bubble symptoms of the first decade of the twentyfirst century extends from tech, to real estate to tea! The bubble effects of the U.S. real estate bubble extended to little towns in the north of Norway.
Grouped Articles
Huaxi Journal: Sharing the Wealth in a Tiny Chinese Village
New York Times 07/11/2011
A County in China Sees Its Fortunes in Tea Leaves Until a Bubble Bursts
New York Times 01/17/2009
Economists: China Mirrors U.S. on Eve of Financial Crisis
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New York Times 12/18/2011
We all have a stake in China’s real estate bubble - The Washington Post
Washington Post 12/24/2011
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