China’s Ghost Cities and Malls is an investigative documentary by Dateline of Australia. The film show China’s construction of massive cities and shopping malls where no one lives. All of this to maintain the perception of limitless economic development. This is a memorable case study of what will take place when policy is based on chasing advantageous statistics. The Chinese property mania is not only formed on cheap credit, it was compensated for with taxpayer’s money.
Indeed, the economy of China has broadened at an astonishing pace. There is an actual and impressive growth taking place in the economic climate however, if growth happens at this rate, speculation is bound to happen. A great deal of the business growth capital on China is headed to fixed investments, among them is real estate.
The Census revealed data indicating that 14 million units of housing within the United states are classified to be vacant. As shocking as this number seems at first glance, China comes with an approximated 64 million vacant apartment units. While all of us enter a never ending cycle of universal financial bubbles, the biggest ongoing bubble on the planet at the present time is perhaps on Chinese real estate. Everybody must watch the video to discover the eerie silence inside the massive city on week days where virtually no people and without any traffic that feels like you’re on a post-apocalyptic Hollywood film.