China Faces Longest Deflation Cycle Since Great Famine, People Tighten Belts, Prices Fall
China Faces Longest Deflation Cycle Since Great Famine, People Tighten Belts, Prices Fall
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The vlogger says that this year, those growing and selling Sunshine Rose grapes aren’t just not making a profit—they’re probably not even covering their costs. This fruit, once a high-end item, once sold for over 20 yuan per kilo, is now facing a complete market reshuffle. Since the start of this year, China’s premium fruits have seen prices plummet, with Sunshine Rose grapes falling from a peak of 600 yuan per kilo to less than 6 yuan. Many farmers are facing huge losses.
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