Skip to comments.The Folly of Central Planning
Posted on 10/06/2011 9:49:11 AM PDT by Reaganite Republican
But satellite pictures taken earlier this year revealed that China's odd unused-housing stock glut has only gotten worse, if anything: they indeed built it, yet nobody came as of yet. The photos betrayed dozens of newly-erected 'ghost-towns' that have resulted from Beijing's communist leaders' insistence upon building "20 cities a year for the next 20 years"- as recently announced in the government-controlled Chinese newspapers.
I myself have always enjoyed exploring ghost towns of the American west, those crafted by enterprising pioneers whose time had passed on-by. How more opposite could it be then, the Chinese predicament brought about by government bureaucrats in a far-away capital crafting soulless cement apartments for towns who's time has yet to arrive... if ever:
Charming home, built with high quality Chinese concrete, steel, drywall and plastic. No toxics, no no. No fall down in wind, you see.
"crafting soulless cement apartments"
How do you say, "Please don't throw me in that Briar Patch" in Mandarin?
50% or more down payment is required for those units, so the People’s Liberation Army is obviously not ready to move tens of millions of peasants into them, yet. As we Baby Boomers die and leave a country of empty houses over the next twenty years, will our government do the same? Maybe something similar while calling it something else.
Beijing’s communist leaders’ insistence upon building “20 cities a year for the next 20 years”
Why build like this w/ “once child policy”? I don’t get it. Are they planning on relocating the rural Chinese, or relocating another people?
There’s a World of difference between “unused and paid for” and “unused and not yet paid for”.
Most of us don’t know whether these unused properties have been paid for or not - but I am told most have been paid for. I am told Chinese treat property like gold - as a store for the future, and that used property tends to depreciate in value.
This may not be logical, but it is slightly different from the housing market crisis in the United States (which still persists).
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