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> In China, 20 year old, if not 10 year old highrises are knocked down. Isn’t it part of their 12% year on year growth strategy? Whatever it takes to make thes
by ornornor 5y ago
> In China, 20 year old, if not 10 year old highrises are knocked down.
Isn’t it part of their 12% year on year growth strategy? Whatever it takes to make these numbers happen? Which is also why China builds cities designed for millions of people that remain ghost towns once they’re done: they’re not really built to be lived in but to boost the economy activity via construction costs.
- baybal2 5y agoTo some part, it must be. I don't believe that even in communists China there must be somebody who don't realise how bonkers it is. But economic gain is there too. The surreal real estate bubble makes knocking down even 10 year old buildings profitable.