China's eerie ghost cities a 'symptom' of the country's economic
troubles and housing bubble.
Fancy villas, high-rise apartment blocks, lakes, parks and sprawling
road networks: Ghost cities in China have it all. Just one crucial
element is missing — the people.
Key points:
There may be as many as 64 million empty apartments in China
Many people buy the properties as an investment with no intention
of ever moving in
Author says ghost cities show growth is driven by debt in China
Built for a population that never came, about 50 of these surreal
sites lay desolate across the country. But still the construction
continues.
These new cities are usually built in rural areas on the outskirts of
existing cities.
Designed for populations numbering in the hundreds of thousands, the
mass construction projects can include towering high-rise
condominiums, huge shopping centres, city squares, street lights and
replicas of cities in Europe and elsewhere.
https://www.abc.net.au/news/2018-06-27/china-ghost-cities-show-growth-driven-by-debt/9912186
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