Yeah, it’s strange, like they are building this for some future event..
They are building these for large populations of immigrants to fill the jobs for high-tech and highly-educated people to expand the economy. Cannot remember where I heard this.
Maybe they’re expecting a flood of North Korean refugees.
“Yeah, it’s strange, like they are building this for some future event.”
It’s nice to have several new, vacant cities in waiting to relocate population away from nuked areas.
China’s emerging middle class sees real estate as a store of value. To many, buying an apartment in Shanghai or Beijing is like buying a bar of gold. And many — “too many,” Chanos says — have kept on buying as prices have gone up in the past five years.
Unless they already possess offshore funds, Chinese citizens have limited investment choices: they can gamble on an unstable domestic stock market, buy low-yielding government bonds, or stash their cash in even lower-yielding bank deposits. By contrast, real estate—occupied or not—offers them a visibly reassuring place to park their money, sheltered from inflation … For them, an empty condo is a store of value, much like gold, another asset that performs no practical function besides retaining its worth.