If people around the world are hoarding gold coins as protection against a possible surge in inflation, some in China are betting on caterpillar fungus.
The parasite found mainly on the Tibetan plateau has been used for centuries in parts of China to fight fatigue and as an aphrodisiac – one of its nicknames is “Himalayan Viagra”.
It is also part of one of the latest speculative crazes to hit China’s booming economy – medicinal herbs. Prices are now so high that a Chinese consumer could buy almost two grammes of gold for the cost of one gramme of some types of caterpillar fungus.
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