I thought I read on one of these stories...like the humongous malls and entire cities that are vacant over there, that GDP is tied to the money spent on the construction. So build a lot of what no one can afford or want and you prop up the GDP and look like you are going strong? That is one big bubble over there.
This piece is very good, and from AlJazeera. I don't know what it means that to get good reporting on China, you have to turn to AlJazeera.
[So build a lot of what no one can afford or want and you prop up the GDP and look like you are going strong?]
That ponzi scheme isn’t limited to “over there”. Cities in the U.S. have gotten themselves into a big over-developed mess too.