As a Chinese I find that story absurd. Chinese burial customs dictates that, almost similarly to Egyptian burial rituals, you bury/cremate the dead with the items you'd wish them to have in the afterlife, albeit you burn representations. When my maternal grandfather died we burned a gigantic paper house, a small plastic corvette (he had one when he was younger), and the usual paper money for him to spend. I mean, better than burning an actual Corvette right?
As for the cheap Filipino romance novels... well yes that's actually true. Peek into any mall or cornershop and you're bound to see a saleslady reading one of those. It's cheap literacy education for less than a dollar a day.
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