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Keyword: ghostmalls

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  • Business Trend: China Replaces Ghost Towns with Ghost Malls

    09/01/2013 6:56:54 PM PDT · by TexGrill · 5 replies
    Globa and Mail ^ | 09/02/2013 | TexGrill
    TexGrill Thread: In recent years, Chinese State-owned Enterprises (SOEs) have embarked on an over-saturation of the market. Chinese SOE steel firms especially have produced a glut of global steel. To resolve the dilemna, Beijing had embarked on a grand urbanization nationwide scheme that called for central planners to build huge cities in the middle of nowhere. Needless to say, the Chinese didn't take the bait and move to those ghost towns. Now, urban planners are scrapping the ghost towns and building ghost malls on nearly every street corner in the major (non-ghost) cities of China. But they're called 'Department Stores'...