[lbo-talk] China’s ghost cities and the biggest property bubble of all time

fernando cassia fcassia at gmail.com
Mon Apr 18 19:33:08 PDT 2011

[This is interesting, yet, in the interest of hype, the author turns two examples of empty shopping malls into a gigantic hyperbole in it headline "China´s Ghost Cities", in other words, an indictment of the whole country, which makes me question the conclusions of the rest of the article -FC]


A couple of months ago, a lot of people were passing around the news <http://www.economist.com/blogs/gulliver/2011/02/development_china> about China's plan to create a megacity <http://www.telegraph.co.uk/news/worldnews/asia/china/8278315/China-to-create-largest-mega-city-in-the-world-with-42-million-people.html> that would be home to 42 million people, the so-called "Turn the Pearl Delta Into One" idea. The reporting was generally favorable, painting a picture of economic growth and opportunity -- the narrative of a prosperous China, with a growing middle class, that has become commonplace in recent years.

Unfortunately, the view of China's urban planning strategies from the ground is less shiny. A riveting report <http://www.youtube.com/watch?v=rPILhiTJv7E&feature=player_embedded> from Dateline, an Australian TV show, reveals a disturbing pattern of development for development's sake -- the construction of gigantic infrastructure projects with no regard for human needs.

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