…first as tragedy, then as farce

The country that gave us bubbles in real estateequitiesjadepaintingsshares in paintingstable saltfermented teafake French wine19th-century stampssilver, dead-caterpillar fungus and walnuts has just seen the collapse of a bubble in chrysanthemum tea

The excellent Sinocism blog has the story, mostly untranslated; non-Chinese-readers can hit this Google Translate link for the sad but entirely unsurprising story of “Xinjiang snow daisy 20,000 per kg fell 30 yuan enterprises teeth to be the turning point”.