4 ms·
China just builds out entire cities years before they're necessary.
by aaomidi 5y ago
China just builds out entire cities years before they're necessary.
- pydry 5y agoIt's not a deliberate policy. There's precious little else to put your money in so the Chinese end up using property as a savings account. Developers will often skimp on construction quality as a result, since they know that nobody will actually be living in them.
- aaomidi 5y agoYou seem to have read the western propaganda that has misrepresented the situation: https://en.wikipedia.org/wiki/Under-occupied_developments_in_China https://en.wikipedia.org/wiki/Under-occupied_developments_in...
- seanmcdirmid 5y agoYes, and often those cities will be torn down before they are actually used. It’s all good: turns out demolition also counts as positive GDP in their statistics.