It's customary to burn money to send into the 来世 or afterlife, for your deceased relatives to spend. It would be crazy to burn real money, but it's not enough to just scrawl 'a gazillion pounds' on a piece of scrap paper in biro either. In fact, there's a lively market for afterlife currency.
As any elementary Economics student can tell you, the printing of paper money will inevitably lead to some degree of inflation unless attached to a fixed standard (e.g. gold) or strictly regulated. In other words, the price of goods will go up in nominal terms and the value of the paper will decrease.
Speaking Teacher Wang brought up Qing Ming Jie in class and we fired questions at her.
"Actually, it's not just Chinese Yuan, you can also buy American Dollars and Euros to burn too, and of course you don't just burn it, you have to write an address on it so the money will find its way to your relatives".
"What would they spend it on?"
"Well, the idea is that your relatives are enjoying an afterlife which is just like this one".
"How come no-one's sending me money from my previous life then?"
She laughed. "Actually, noone thinks it's real, it's just a way of remembering your ancestors".
Someone brought up burning paper cars.
"Sure. Before, people would burn paper horses, but now you can buy paper cars, houses, electrical goods..."
"Well, what about a paper wife?"
Another laugh. "Impossible. If they've married in this life, then you can't just send a wife like that." A pause. "Actually, you can send paper 小姐 but a lot of people criticise this".
安娜 furrows her brow and mouths "Paper 小姐?"
I look quizzical too and mouth back "Paper hookers? Really?" Speaking Teacher Wang confirmed that she was indeed talking about women of negotiable virtue.
So, just for the record: When I go, I'd like a paper jacuzzi and a few issues of Playboy burnt in my memory.
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