For 8,000 years, people in China have known the value of garlic. Today, while still central to Chinese cuisine and traditional medicine, rarely are the pungent bulbs used in property deals.
But developers in some parts China have in recent weeks promised to accept stocks of garlic — as well as watermelons, wheat and barley — as down payments from farmers on new apartments.
The food-for-property barter deals reflect increasing desperation among real estate developers after a sharp fall in the industry caused by Covid-19, central government policies and an economic slowdown.
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