How can the Chinese afford to build empty cities? Something is very rotten in the Middle Kingdom.
Holly Krambeck / blogs.worldbank.org:
Rise of the Chinese Ghost Town -- In Chenggong, there are more than a hundred-thousand new apartments with no occupants, lush tree-lined streets with no cars, enormous office buildings with no workers, and billboards advertising cold medicine and real estate services – with no one to see them.
As my colleagues and I wandered, on–foot, down the center of Chenggong’s empty 8-lane boulevards and dedicated bus lanes, never seeing a single person, we marveled about the fiscal and political conditions that would have to exist to create something like this...