Look at these photos, you will be impressed with the effort that China put in to manufacture these Olympic medals. I am sure each of them will cost several hundred dollars, if not much more than that. And they are so nice looking, I wish I can have done also. Somemore they comes with Jade, I am sure that worth a lot of money.
I think in China, as long as you willing to spend, you can get good quality stuff also. So not all are of bad quality.
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