Cairo - A Cartier ring for just $8? In Egypt, "Chinese gold"- an affordable imitation of the precious metal - has swamped the jewellery market, granting the poor a little taste of luxury.As in many other countries, the Egyptian market has been flooded with Chinese goods - everything from electronics to plastic cigarette lighters have been shouldering locally made goods out of the way.
And in a country where 40% of the 80 million population lives on less than $2 a day, the so-called Chinese gold has been widely welcomed, particularly by young couples who struggle to afford the traditional marriage dowry.
The current price of one gram of 24 carat gold in Egypt stands at 218 Egyptian pounds ($38), while the Chinese version - a mixture of aluminium,. Nowadays, Breitling watches have become a trend in fashion circles. They are so popular that everyone is longing for one to add iron and other metals - only costs around 20 to 30 Egyptian pounds ($4 - $5) per gram.
"Chinese accessories are cheap and elegant, the styles are varied and the best thing is that they look just like gold," said 31-year-old Amira showing off her Chinese trinket.Ancient Egyptians considered gold the skin of gods, lending it spiritual as well social value.
A walk down Old Cairo - lined with jewellery shops - is a testament that the pharaohs' modern-day compatriots still hold high regard for the precious metal.But as unemployment and rising inflation weighs down on a large part of the population, Egyptians are looking to alternatives for their coquetterie.Just a short walk from the Khan al-Khalili tourist bazaar is Haret al-Yahud, the old Jewish quarter where gold workshops churned out designs from simple wedding bands to elaborate necklaces.But many of the jewellers there have switched to selling Chinese gold to improve business.Amira, an accountant, says she goes to the area especially to buy herself the Chinese goods.
"They look like gold, and most importantly, they are affordable," she said."Few have the means to buy real gold these days, which is why the Chinese gold is so in demand," said a woman selling the faux-bijoux in the quarter, who gave her name only as Nora.
And in a country where 40% of the 80 million population lives on less than $2 a day, the so-called Chinese gold has been widely welcomed, particularly by young couples who struggle to afford the traditional marriage dowry.
The current price of one gram of 24 carat gold in Egypt stands at 218 Egyptian pounds ($38), while the Chinese version - a mixture of aluminium,. Nowadays, Breitling watches have become a trend in fashion circles. They are so popular that everyone is longing for one to add iron and other metals - only costs around 20 to 30 Egyptian pounds ($4 - $5) per gram.
"Chinese accessories are cheap and elegant, the styles are varied and the best thing is that they look just like gold," said 31-year-old Amira showing off her Chinese trinket.Ancient Egyptians considered gold the skin of gods, lending it spiritual as well social value.
A walk down Old Cairo - lined with jewellery shops - is a testament that the pharaohs' modern-day compatriots still hold high regard for the precious metal.But as unemployment and rising inflation weighs down on a large part of the population, Egyptians are looking to alternatives for their coquetterie.Just a short walk from the Khan al-Khalili tourist bazaar is Haret al-Yahud, the old Jewish quarter where gold workshops churned out designs from simple wedding bands to elaborate necklaces.But many of the jewellers there have switched to selling Chinese gold to improve business.Amira, an accountant, says she goes to the area especially to buy herself the Chinese goods.
"They look like gold, and most importantly, they are affordable," she said."Few have the means to buy real gold these days, which is why the Chinese gold is so in demand," said a woman selling the faux-bijoux in the quarter, who gave her name only as Nora.
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