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China’s Lunar New Year Pork Gloom Exposes Deep Economic Trouble
For families across China preparing for Lunar New Year, the most important celebration in the calendar, pork is a must. An ingredient synonymous with prosperity and abundance, it’s used in countless dishes and cured for festive delicacies. But in Beijing’s Xinmin market, vendor Wu Aizhen is struggling. Though pork prices have fallen by about a fifth compared to a year ago, she is selling a third less than she would in a normal holiday season. Pork demand has been sluggish for months in China, but its continued weakness even as the country approaches peak season for elaborate meals sends a powerful message about ... (full story)