China’s Economy - The Next House of Cards
Here’s an interesting article over at consumerist.com. Looks like China’s been boosting growth by building huge, empty cities that are mostly devoid of life:
Chin up, America. China ain’t so great. That 10% GDP growth they’ve been having? A lot of it is fake. Take this investigate report that looks at the big trend over there of Chinese ghost cities and ghost malls. China is building ten of these cities a year, cities that can serve millions, with rows of apartment complexes, shopping malls, and universities. But almost no one lives in them.
Most people in China can’t afford to live in the cities, even the workers that built them. I wonder how long it will be until this catches up with them?
There’s also a neat youtube video on the link that showcases these empty cities.