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It is. Chocolate is one of their big exports, with mahogany and gold. One of the computer labs I worked in had big, solid mahogany chairs, with built-in desks. Another had cheap plastic patio chairs. They explained to us how the plastic chairs were more expensive, and considered more "refined."
Napoleon III had aluminum silverware. Supply and demand - when "mahogany" is "that tree that grows everywhere" and "patio chairs" are "those crazy-expensive thing we have to get via container ship, which doesn't come very often" you start to see the valuation of patio chairs.