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Aren't the "ghost cities" really investment properties for wealthier Chinese living in the cities? I seem to remember reading that there's a lack of diverse in
by josefresco 11y ago
Aren't the "ghost cities" really investment properties for wealthier Chinese living in the cities? I seem to remember reading that there's a lack of diverse investment opportunities, so many invest in condos that they'll never use/inhabit.
Maybe this is the precursor to the next step of "seeding"?
- bpolverini 11y agoPartly, but it is primarily to bring those living in rural areas into an urban context as a mechanism for modernizing the economy. Right now, under the hukou system (https://en.wikipedia.org/wiki/Hukou_system https://en.wikipedia.org/wiki/Hukou_system), you can't just move anywhere you want. What ends up happening is those living in rural areas illegally move to cities like Beijing/Shanghai/Shenzhen for work, but can't get their children educated or get healthcare. This is a way to prevent mass migration to the first-tier cities.