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I believe you that the construction probably isn't great, but how does it compare to living out in rural areas, or wherever people moving to the cities used to
by narrator 11y ago
I believe you that the construction probably isn't great, but how does it compare to living out in rural areas, or wherever people moving to the cities used to live? There are still a lot of Chinese who are not urbanized and all this building should be a step up for them.
- seanmcdirmid 11y agoThose apartments are being bought by speculators, not urbanizing farmers. Those farmers can't really afford these apartments though, nor can they send their kids to local schools even if they buy them (China hasn't reformed the huko system yet). So they come to the cities as migrant workers, leaving their families behind, living in cheap dormitory accommodations or even in basements (lookup "ant tribe"). China will have to sort out this imbalance before urbanization can drive much of the economy, and speculation doesn't really help here (maybe they could eventually afford a $200k apartment, but $1 million? Really?)