Subscribe to our channel //bit.ly/AJSubscribe Despite high inflation levels, China's economy is the world's second largest. And as it continues to grow, so too ...
China's ghost towns scare economists
Subscribe to our channel //bit.ly/AJSubscribe Subscribe to our channel //bit.ly/AJSubscribe Property is the principle source of investment for most ...
World main stream media report Chinese property bubble 5 yeas ago and said
it will collapse soon, but they never really see it happens. Every time
they see some empty residents building and they say it is a ghost city, but
the real situation is it is case by case. Shanghai Pudong District also was
a ghost city 20 years ago but now it is China's most important financial
hub. Recent example are Ordos and Zheng Zhou East New District. These two
ghost cities are very famous 5 years ago but now Ordos is half inhabited.
And Zhengzhou new district is much more crowded, it is even difficult to
find a empty slot for car parking there. Don't make simple conclusion just
by your eyes, westerns just cannot imagine Chinese urbanization speed.
+Noddy Twothree exactly, china is trying to become like america. they want to have domestic consumption. they want to move about 300 million people to the cities. how are they going to do it? by pushing people into it, willingly or unwillingly. fact of the matter is demand is still extremely high compared to the supply. as soon as a big firm moves in and government sets up couple of hospitals and schools, those cities will be filled in no time.
How about a little honesty? Western media has reported updates on Ordos. The truth is that the Chinese gov't has PUSHED people to live there now, by moving schools and hospitals! Yes, more people live in Ordos, but hardly for the reasons you cite: //www.theatlantic.com/china/archive/2013/04/ordos-a-ghost-town-that-isnt/274776/
Let's hype their housing bubble and hope they collapse first, despite their
robust economy and increasingly affluent citizens.
Hopefully nobody notices our recovery is non-existent, we're having massive
inflation AND a -2.9% growth, classic stagflation, and a housing recovery
that hinges on a minority of wealthy buyers, while our middle class gets
eaten alive!
+CoNN It's not quite happening, China is probably already in recession; it's difficult to gauge their actual GDP. It was a bubble.I have friends from China. Most don't like their currency because China devalues it to remain competitive against other nations in exporting stuff. But putting money in other currency is illegal, and most investments inside and especially outside China are illegal unless you're part of the "elites" as they put it. Most of them want to never go back, while the rest wouldn't mind trying to start a business there and live in the US or Canada or somewhere else.Basically, this is the biggest economic bubble in human history. I don't think its going to end well. Australia a prime supplier nation including African countries and Brazil have lost demand for their raw materials as things are starting to fall apart from this massive bubble.I think we'll all be effected from the US, Mexico, and all European countries too. This will not end well at all. We need major economic structural changes in each country before it becomes cataclysmic.
The party is over. We had a century of luxurious excess and now it is time
to return to reality. I just wish my kids weren't here for the crash. All
in all I believe it is for the best but it is going to hurt.
+HDaviator China is already experiencing the problem of a large generation of older people without families to take care of them. It's a rapidly growing business for those who can afford it. Healthcare for the elderly will just add to the burden. Just because they're so-called "communists" doesn't mean they will take care of them, or were you joking?
+Geoff Heisenberg China isn't as powerful as they would like people to think. Neither militarily or economically. China's population alone is still larger than the west's. And they are communist so they have to provide for them. Also, it doesn't help that in the coming years and serious number of those people will develop lung cancers and related illnesses.
It's disturbing when massive amounts of property (worth billions) is presently being bought in the UK by Chinese investors. Not that I have anything against any people or race, but it doesn't feel right to me.
Climate Change, declining fish stocks, droughts, floods, pollution, water
and food shortages all stem from the worlds worst environmental problem…….
OVER POPULATION.
Yet the world adds 80 million more mouths to feed, clothe, house and
provide energy and water for every year… this is unsustainable…
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Is you think about it all the human race can live in Texas and still hold billions more, the only reason we have those problems is because we keep poisoning ourselves
nooo..!!! it wont hapend..!!! afrika wanted to make busynes to china with minery thats so africa contrac china to paid virtualmoney to build infratruture this foto is china almost finishinf new city for africans.look foor one is not ready at al thats why no people is living yet but is not abndoned this is lie...!!! fucking finalcial mafia liars..!!iternacional buildebergs etc finacial mafia buy cnn etc lie..!!!
+Jimmy Biggs You're right, Africans are stupid letting foriegners into Africa. They will build and own all the major corporations, Africans are preparing for their casket
+Jimmy Biggs that could be a possibility, but they are building empty cities in China also.. it could just be a case of bad investments, and they took out these big ass loans from IMF bank..
+Jimmy Biggs lol you're too stupid for this world. 90 % of all chinese people life in the east. They want to get more people to west china. Not to africa. It's called a normal trade what china and african countries do. There's no need for a conspiracy theory.
exactly Africans need to wake up and use all the resources to their benefit
China's Manhattan Plan Marred by Ghost Buildings
June 27 (Bloomberg) -- China's own Big Apple may be rotting from the core. A new central business district modeled after New York City is going up in ...
Take a good long look citizens of the United States this is what 30 year of
outsourcing has done to the Chinese economy. You made the few wealthy and
the young poor. Your nations infrastructure is falling apart, China is
building new modern cities nonstop. If you think the United States best
days are over you are correct.
+xjosimarx Oh, right yes. How silly of me to suggest wealth disparity in the USA isn't existent. Mind pointing out to me where I said that? China is in the same situation but worse. What the hell are you trying to say? That China's debt situation is rainbows and USA's economy is irrelevant? How special of you go against what we all know. Funny you felt the need to make some sarcastic allusion, because you know saying what you want to convince yourself would be a lie. Fucking hipster dickhead.
+Bannicus "the US' problems pale in comparison to China's"Well, keep repeating the self-hallucinating mantra while we live comfortably enough under the one-percent "regime". Shame. Delusional.
+cmtmj2006 Did you really watch this video and gather that this is a positive situation in China?For all the talk, the US' problems pale in comparison to China's. China's boom fueled by foreign money, government debt and shadow banking lacks the might of the US' massive internal wealth and enterprise expertise that China depends on importing.I guess accepting that the US is still and will continue to remain for a while the world's largest economic tank isn't hip and cool enough.Until China accumulates more robust wealth of its own it won't mature enough to compare. As long as cheap labour pours from the country to the cities, that won't happen, and the world's largest migration doesn't appear to be slowing.
China is currently building 12-24 cities every year and they are mostly
empty. This is not a bubble that is about to burst. They are planning
something and not telling about it. I figure that something catastrophic is
on its way.
China has the greatest growing economy in the world hoarding/bying all gold
in the world. They know something they're not telling. What country builds
settlements for millions and millions of people to end up totally empty...,
that's just plain stupid, the math doesn't add up.
Definately! I figure USA has something to do with this also! I suspect there is a conglomerat consisting of governments, and whatever is planned, it can't be good!
Well, maybe you are right about it, but why not just stockpile surplus steel and cement? China doesn't need or care to report to the rest of the world what they have lying around!?You know that china is the main supplier of neodymium in the world and by that, they can manipulate the price on that in any direction desired.
you think too much and overestimate these local governments. The real reason is the overcapacity of cement and steel, they can't stop, if so, it would cause a domino effect.
They can't. Problem with buildings that stand unfinished or even if they are finished but left vacant, they start to deteriorate and have to be completely redone. Basically they become a big waste. In Boise Idaho where I've lived for 10 years now, we had a tall high rise construction, and it went bust before much completion back in 2001. In 2010, it stood empty. Some bank finally bought the lot and built a different high rise on it. They had to completely remove the foundation and everything that was built from the prior construction because the concrete was exposed to the elements, the reinforced steel bars in the foundation was completely rusted, and plumbing and start areas of electrical were completely caved in and rusted. They just demolished it. And started anew. This happens to fully built homes and other middle sized commercial buildings too. They start to fall apart the moment they're built, all buildings do. Vacant buildings no one is there to ensure pipes don't break, and interior sections are freezing or heating up to quickly during the seasons. They end up a big waste.
China has the biggest property bubble ever, it will make the US & EU
property market collapse look like nothing in corporation! One of those 1
bedroom apartments is equal to 200 times the yearly average wage of a
couple in china..... So who is going to buy them?
(Greed + corruption = Madness.)