This is exactly why the Baidu study is important. China is so big and data quality so poor that you can create your own version of ghost city narrative ("big cr

This is exactly why the Baidu study is important. China is so big and data quality so poor that you can create your own version of ghost city narrative ("big crash" or "people moving in no worries" etc.) by selecting 10 cities. Even looking at things at a gross level ("cement/steel consumed") can only hint at the massive over-investment in property. Even the govt. is probably not sure.