http://www.dailyfinance.com/2012/04/17/china-ghost-malls-commercial-real-estate-bubble/ http://www.bbc.co.uk/news/magazine-17390729 A typical construction bubble. Everyone thinks that consumers will continue to be able to afford to spend money, but the economy is fueled by jobs in the construction industry. Business owners and homeowners in the expensive cities have taken on too much debt. When the debts come due, many will not be able to pay it. Banks will struggle to pay their depositors, and people will suddenly find they have less money than they thought. When this thing bursts, it is going to leave many people unemployed and angry. In the city of Wenzhou, some entrepreneurs have already found themselves so hopelessly in debt that they have gone into hiding or committed suicide. China is the world's second largest economy. This could have economic consequences outside China.
I agree - it would have very serious effects all over the world if the economy really collapsed. The pictures of the ghost mall in the first article are very interesting. I am coming across more and more articles forecasting a real estate collapse.
I am a chinese that live in china mainland(its capital city is peking),China becomes the world's second largest economy,its high GDP based on NO HUMANRIGHTS(the labour in factory earn very low salary,if labours protests for improve salary will face violence from armed localpolice militarypolice orderd by local governors,because neither central governors nor local governors,their power is no limited,NO agency or bureau can limit their power,it worse than in us that the white house,the congress,the federal court ,these three bureaus can limit power each other.so I admire the american people,because your rights are peotected by law),HIGH TAX(沉重的税收,high road with fee(logistics cost),stated owned enterprises monopoy domestic market bring a big amount of revenue.All of these contributes to the GDP.Autocracy,tyranny,these two words describe the communist party of chinese goverment,its leader Hu jintao,Wen jiabao.The PLA(people's liberation of army),is orderd by communist party of china,the party guarded troops,the carnage in Tian anmen square in peking in 1989 is example.Those who cling to power through corruption and deceit and the silencing of dissent,these are the description of communist party of china.
Mebbe dey gettin' ready to house their homeless?... More eerie 'ghost cities' popping up 3 July`12 - Shocking photographs reveal towns completely devoid of people
Go to the "Beautiful Country" (not the "Rice Country" as called by the Japanese) to look for your heaven and dream, but if you can't succeed there, you will join the ranks of many people who have become homeless and lost their dreams. Wish you good luck in America. Racism in the United States http://en.wikipedia.org/wiki/Racism_in_the_United_States Racism in America: Today http://futiledemocracy.wordpress.com/2011/04/13/racism-in-america-today/ Special Populations of Homeless Americans http://aspe.hhs.gov/progsys/homeless/symposium/2-Spclpop.htm Homelessness in the United States http://en.wikipedia.org/wiki/Homelessness_in_the_United_States 9/11 lost decade: The American dream, and the missing years http://www.independent.co.uk/news/w...ican-dream-and-the-missing-years-2352870.html American Dream Lost http://www.megaessays.com/viewpaper/42734.html In Greed We Trust http://www.greedwetrust.com/
Mebbe dey should move those vacant houses to the US where they can at least earn some goodwill from the homeless?... As more Americans become poor, will more become homeless? http://www.chicagonow.com/chicago-m...ricans-become-poor-will-more-become-homeless/ More Families Are Becoming Homeless, Study Finds http://www.washingtonpost.com/wp-dyn/content/article/2009/07/11/AR2009071102099.html
Such huge apartment blocks - perhaps China will find some use for these eventually but 64 million vacant homes is on awful lot. Seems to confirm production outstripped demand, quite the sign of a failing property bubble.
They should have built houses for birds instead of humans. House Of Bird's Nest http://houseofbirdsnest.com/ Swiftlet city in Vietnam - Lang nuoi chim yen o Can Gio http://www.youtube.com/watch?v=gum-qJ9EE9A Bird nest HOUSE http://www.youtube.com/watch?v=eje6HbpZpBs
those will be filled within a year or two. alot ghost town/empty city that was portrait by media few years back are filled with people now
Good points. Many economists in the West fail to take into account the unique circumstances of Chinese "growth", which is built on the backs of many poorly treated workers. Western economists often overlook this fact and instead focus on the growing middle class, despite the fact that the "middle class" only constitutes a fraction of the population, and many of them would be considered low income by Western standards of living.
It is apparent that China's economy is slowing. I can't say that I didn't expect it since much of it is based not on a natural economy but a politically driven one. Rights in China are poor but I think with the influx of technology that eventually, freedom of speech will be unavoidable and China will have to change. Don't listen to the American naysayers as most of the alleged poor here live better than many of China's middle class.
Dear heaven, Although Old Confucius did not place much emphasis on liberty, he had pointed the road to freedom and success for all mankind through his great emphasis on learning 2,500 years ago. If you could end up as a top student in an Ivy League university, the whole world would be a heaven to you. You need not go anywhere else to seek your heaven. If you want to go to the US to share the bread with the "alleged poor", then good luck to you. I wonder whether they will roll out a red carpet for you or summon the immigration officer to wait there to deport you. Perhaps you should contact our friend Hoosier before you go there. He may be able to help you. Regardless of what others say, you should be courageous enough to look for your supposedly heaven -- just like Columbus sailing across the Atlantic Ocean in search of his supposedly heaven (China) 200 years ago. It doesn't matter whether you could find your American Dream in the end -- at least you would end up doing your country a good service by leaving behind your bowl of rice to the Chinese middle class.
Chinese economy not bein' able to keep up its recent phenomenal growth... China's shrinking economy August 17, 2012 - They did it again. Beijings economic statistics for July, issued last week, appear to have been made up, as the Chinese now characterize fictitious numbers. One figure, whether accurate or not, was especially illuminating. Last month, the production of electricity, according to the National Bureau of Statistics, increased 2.1% year-on-year.
If the Chinese phenomenal economic growth goes on and on, it will grow through the clouds like Jack's legendary beanstalk. How much more can you expect at such a dizzy height? Jack and the beanstalk http://learnenglishkids.britishcouncil.org/en/short-stories/jack-and-the-beanstalk
China economy losin' steam... China's new leaders face tough economic choices Oct 21,`12 -- China's economic model that delivered three decades of double-digit growth is running out of steam and the country's next leaders face tough choices to keep incomes rising. But they don't seem to have ambitious solutions. Even if they do, they will need to tackle entrenched interests with backing high in the Communist Party. See also: Japanese exports to China fall amid territorial dispute 21 October 2012 - The BBC's correspondent in Tokyo, Rupert Wingfield-Hayes, says exports are down for a fourth consecutive month
Chinese economic sanctions against Japan prove effective. It's a way of defeating the enemy without fighting. Sun Tzu http://en.wikiquote.org/wiki/Sun_Tzu
Glad to hear from you again after a long time. I thought they have shut you out again. Quite true. China should make friends and influence people especially reedak and his smart nephew. However, at the same time China must not forget to adopt Sun Zi's strategy of winning without fighting to defeat those who obstinately refuse to be influenced or won over as friends.
Granny sats the Chinese economy gettin' to be a tough nut to crack... Chinas Next Leaders Inherit Economy at Critical Crossroad November 13, 2012 China's leaders have renewed pledges to boost the economy over the next 10 years during meetings this week in Beijing. But the economic challenges China's incoming leaders face are much more difficult than the challenges their predecessors faced a decade ago.
https://www.citylab.com/equity/2017...e-china-ghost-cities-david-borenstein/516657/ These development projects bring in foreigners from America, generally out of work or transients, to portray themselves as celebrities or wealthy businessmen. (White people they hire to pretend to be businessmen, the Blacks they hire to pretend to be celebrities who are famous in America) Then they promote a massive real estate selling pitch to investors. They also bring in huge amounts of people to "look like" they live and work in these huge condo complexs… but only on the day the investors come to see. They all become ghost cities - and the Chinese move onto the next massive project, do the same thing. Hire white foreign monkeys to perform, hire more pretend inhabitants in that "city"... and then move on to the next one when that one fails. In the meantime, they tear down the actual homes of the Chinese citizens (not caring whatever happens to them) to keep building these fake uninhabited ghost cities. You will see the occasional couple of lights on - in the entire city... and that's about it.
An update, August 7, 2023 : It appears China's economic bubble is now beginning to pop. There are signs of deflation of the yuan, property values are beginning to go down, both imports and exports are down. The Chinese government is putting pressure on economists not to publish anything about this, to keep a positive light on things.
An interesting watch regarding Mexico replacing China in manufacturing. I just do not agree with the premise that Mexico is trying to "checkmate" China. They are just acting in their own self interest.
China doesn’t run the same way as us, he’ll they even manipulate their currency which makes predicting hard times on china is almost impossible