China Building Ghost Cities
A friend passed this story along to me, pretty interesting if you have the time to watch (about 15 minutes) or you can skim the transcript. Basically the Chinese government is so obsessed with maintaining its high gdp growth that they've built a few cities which end up remaining empty for the most part. Anybody know anything about this? Seemed very strange but I believe it.
here's a link to the report
http://www.sbs.com.au/dateline/story/watch/id/601…
or
I didn't read the article because I didn't feel like it, BUT ironically, 2 hours ago I was talking to a friend about this. Apparently there are something like 70 MILLION units just hanging out. Short Chinese housing?
This isn't really new news. I think Jim Chanos was on to something.
Amazing how hard China is trying to push consumerism and create demand. Short Chinese housing and manufacturing.
this is very very old news....
Fascinating. I'm convinced that China isn't the new world super power and these are the cracks that we do see. What about the ones we dont.
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