> I'd much rather face the problem of building empty homes (which is not really a problem?) Not in and of itself, but if you look at historical parallels, like

> I'd much rather face the problem of building empty homes (which is not really a problem?) Not in and of itself, but if you look at historical parallels, like the development of Brasilia, the consequences were devastating: over a decade of hyperinflation and a series of failed currencies until one stuck. It seems like China is building hundreds of Brasilias all at once. Maybe Beijing has figured this out, and this will lift more people out of poverty than ever in history? Or maybe this isn't different and the reckoning on the back end will be unimaginable? Never in history has local economic policy affected so many, and it happens to be in a setting where you aren't really allowed to debate economic or government policies. Maybe it will all work out but it's a scary ride.