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  1. #1
    Join Date
    Jul 2003
    Location
    Kapiti in New Zealand
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    4,031

    Default China's Ghost Cities

    Wow - have a watch of this report.

    http://www.sbs.com.au/dateline/story...s-Ghost-Cities
    Last edited by Marc; 27-11-2011 at 10:54 AM.
    Free business resources - www.BusinessBlogsHub.com

  2. #2
    Join Date
    May 2004
    Location
    Bay Of Plenty, NZ
    Posts
    3,604

    Default

    Hi Marc

    The link doesn't work.
    Patience is a virtue.

  3. #3
    Join Date
    Jul 2003
    Location
    Kapiti in New Zealand
    Posts
    4,031

  4. #4
    Join Date
    May 2004
    Location
    Bay Of Plenty, NZ
    Posts
    3,604

    Default

    VERY interesting.
    Patience is a virtue.

  5. #5
    Join Date
    Feb 2004
    Location
    Wellington
    Posts
    2,776

    Default

    It would be a problem elsewhere.... but this is China.....it'll build and build up to a point where the government will be forced to step in, the people will kow-tow to the will of the party and things will just keep rolling along.

    The only thing that would cause the problem to come to a head would be the collapse of the totalitarian government....for if the government says there is no problem THERE IS NO PROBLEM.... the party knows best

    Cheers
    Spaeman
    Delightfully in need of some Tender Loving Care
    Blessed are those who can give without remembering and take without forgetting
    Some things are not as they seem, nor are they otherwise

  6. #6

    Default

    The provinces saddled with this debt are bankrupt.
    They wouldn't support the EuroBond call as they have their own debt concerns.

    The borer is eating away at the foundations.

    .

  7. #7
    Join Date
    May 2008
    Posts
    3,500

    Default

    Eventually China is going to implode - state controlled countries always do as they refuse to adapt/change.
    But they have a lot of money up their sleeve so it could be a while.

  8. #8
    Join Date
    Jun 2005
    Location
    Auckland
    Posts
    5,084

    Default

    Quote Originally Posted by spaceman View Post
    It would be a problem elsewhere.... but this is China.....it'll build and build up to a point where the government will be forced to step in, the people will kow-tow to the will of the party and things will just keep rolling along.

    The only thing that would cause the problem to come to a head would be the collapse of the totalitarian government....for if the government says there is no problem THERE IS NO PROBLEM.... the party knows best

    Cheers
    Spaeman
    That is what happened in USSR for 70 years - 1917-1987 thereabouts.

    Mao's revolution? 1949. +70 = 2019.

    Why 70 years? - time for all the original revolutionaries to die out.
    DFTBA

  9. #9
    Join Date
    Feb 2006
    Location
    Various countries
    Posts
    88

    Default

    We lived for a year in a city near Shanghai. Everywhere around us were row upon row of empty apartment blocks. A Chinese friend who worked for the local government told us that these apartment blocks were often given as presents (bribes) to officials and this was one reason so many were empty. The officials already had their own home and these were not lived in- just left empty. In China there are many many layers of officials and bribery/corruption is an accepted way of life by many.

  10. #10

    Default

    My wife is chinese and her parents and some of the aunts and uncles own appartments. And guess what? They don't rent them out and they remain empty for the bulk of the year. The reason my wife gives is that to rent them out would make them "business men/women" and they don't want to be "business people". Thy're quite happy with their assets and they trust property more than the banks. Different world altogether!


 

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