Mr_Rockhead
Slouching toward Medicare
China is "beating your asses" because of cheap credit. There are whole cities being built, but guess what... no one lives in them... about 10 a year are built.
Ordos, China: A Modern Ghost Town - Photo Essays - TIME
The property "boom" is a huge bubble that makes the US property bubble look like a small wart.
Also China has much cheaper labour and better educated at that. Slave labour does that to an economy...
Now if you want to go to the lowest denominator, then by all means turn the US into China 2.0, but then you have to kiss that free market democracy good bye since you need to be able to hit down hard on dissenters and protests.
I dont get it. The article hinted the city was built to accommodate one million people and, yet, it is virtually empty. So did they build it simply for the sake of building it?
And, if so, that would indeed be much different then how things are done in America.
Yes and they are building 10 or so of these a year.. on borrowed money. The idea is that all the rural poor were to eventually buy (with what money...) this housing, which is a stretch for a people who have never seen indoor plumbing before.
Point is, much of the Chinese growth is based on this insane building of ghost towns and all built on borrowed money. At some point the real estate market will crash and the Chinese government will have to save its own banks.
More on the issue... and yes the first one is from the Daily Mail... but dont hold that against the article.
Ghost towns of China: Satellite images show cities lying completely deserted | Mail Online
Rise of the Chinese Ghost Town | safe, clean, affordable...
SBS Dateline | China s Ghost Cities
LiveLeak.com - Largest Mall In The World Is A Chinese Ghost Town
there are many other links out there.
And why do I suspect the people who built these cities probably cant afford to live in them?