Posted on 05/18/2011 10:07:01 AM PDT by SeekAndFind
Bloomberg Television did a great little segment (via PragCap) about the infamous "ghost cities" of China. Those are those huge planned, mostly empty cities that Chanos likes to rail on.
The typical reaction seems to be: OMG, cities, where nobody is living!
But in reality, lots of real estate projects start with nobody in them, and then fill up over time. That's not that weird. Sure, these are city-size projects, but China is a big country undergoing bigger shifts.
The bigger issue is the country's apparent addiction to centrally-planned, investment led growth -- a development strategy that's creating inflation that's becoming seemingly untamable. Despite the talk about "rebalancing" it's really not happening. And at some point, the country will actually have created way too many homes (just like the US did, during its great government-subsidized, multi-decade boom), and it will have millions of workers who built those cities who don't know how to do anything else, and so on. And that will create serious problems.
In the meantime, until it becomes clear that really nobody is ever coming to those cities -- and it's not obvious that that's happening -- this in itself isn't a huge cause for alarm.
CLICK ABOVE LINK FOR THE BRIEF VIDEO OF CHINA's EMPTY CITIES.
(Excerpt) Read more at businessinsider.com ...
Oh really? Entire cities? With roads and bridges and towering skyscrapers? Empty until people move in?
Libtards will say anything, no matter how stupid it sounds...
But in reality, lots of real estate projects start with nobody in them, and then fill up over time.
Here Obama&Co. works in the reverse.
Yeah, right, wanah buy some cat food?
Uh, uh.
There are over FIFTY CITIES that are STILL empty. And they are building more!
And sometimes the build something and then blow it up and...build it again!!!
China is a house of cards. They even have exploding watermelons!
I’ve read it’s being done to falsely pump up their GDP. I agree.
Yep. Growth at all costs forced down to the lowest level by central planning.
Who am I going to believe; this article pimping the world economic “recovery” or Google maps?
It may also be part of a relocation scheme. They could take “internal illegal aliens” from the country who moved without permission to the major cities to the “approved” cities that are in places where China either wants to bolster territorial claims or needs workers for their next phase of development.
“....this in itself isn’t a huge cause for alarm.”
In other words...its about the only other thing the Senate DemocRATS and ‘Bammy can think of to try to lower unemployment in the next 18 months....coming to an empty lot near you ..Stimulus IV.....Barack the Unemployment Terminator!!!
Oh...I’m sorry. I thought this was a new tv show.
What a load of BS! Meanwhile most of their population, who live outside of major cities, lives in squalor.
Communism only works for the elite.
>I’ve read it’s being done to falsely pump up their GDP. I agree.<
CORRECT. Anyone attending B school knows that. The Aussie journal show just confirmed it.
Empty, but maintained cities, are probably good for storage.
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