High Inflation Sends China Food Prices Soaring
- 13 years ago
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As China experiences high inflation - with rates hitting four and a half percent - the price of produce at markets and retail outlets across the country has gone up drastically.
Chinese citizens are wondering how they will continue to afford to buy produce when staples like green peppers and carrots have tripled or quadrupled in price.
The Chinese regime promised to enforce price controls and to crack down on speculators, but those working the markets say the price hike is a vicious circle that leaves everyone out of money.
[Wholesale Merchant from Henan]:
"When I bought this green pepper I bought it at 0.9 yuan. Do you know how much it is here? If you bring it here, the price goes up to 1.1 to 1.15 yuan. When you sell it here, you can only sell it here at 1 yuan to 0.9 yuan. So I lose around 4,000 to 5,000 yuan."
Beijing resident Bi Guangsheng, is skeptical about the regime's ability to control prices.
[Bi Guangsheng, Beijing Resident]:
"The price level has not been controlled. The regime says one thing, but the merchants do not listen. If the regime adopts a policy, then merchants will work out countermeasures to deal with it."
China has had costly experiences with inflation before, with soaring prices followed by unrest and even the end of dynasties.
As China experiences high inflation - with rates hitting four and a half percent - the price of produce at markets and retail outlets across the country has gone up drastically.
Chinese citizens are wondering how they will continue to afford to buy produce when staples like green peppers and carrots have tripled or quadrupled in price.
The Chinese regime promised to enforce price controls and to crack down on speculators, but those working the markets say the price hike is a vicious circle that leaves everyone out of money.
[Wholesale Merchant from Henan]:
"When I bought this green pepper I bought it at 0.9 yuan. Do you know how much it is here? If you bring it here, the price goes up to 1.1 to 1.15 yuan. When you sell it here, you can only sell it here at 1 yuan to 0.9 yuan. So I lose around 4,000 to 5,000 yuan."
Beijing resident Bi Guangsheng, is skeptical about the regime's ability to control prices.
[Bi Guangsheng, Beijing Resident]:
"The price level has not been controlled. The regime says one thing, but the merchants do not listen. If the regime adopts a policy, then merchants will work out countermeasures to deal with it."
China has had costly experiences with inflation before, with soaring prices followed by unrest and even the end of dynasties.