A sound formed in a vacuum may seem a waste of time
Tuesday, April 19, 2011
China's Ghost Cities and Malls
I didn't know any of this was going on.
China just keeps building entire cities of apartments that no one can afford to live in and malls that stores are not occupying, so miles of this brand new architecture are just sitting gathering dust. The ongoing construction is apparently good for the GDP of China, but this is a real estate bubble of epic proportions and the laws of supply and demand tell me that we are going to see that bubble bust sometime soon.