The real reason why China built all these unused, unoccupied cities for millions is that is artificially increased their GDP.The ghost towns of China: Amazing satellite images show cities meant to be home to millions lying deserted
These amazing satellite images show sprawling cities built in remote parts of China that have been left completely abandoned, sometimes years after their construction.
Elaborate public buildings and open spaces are completely unused, with the exception of a few government vehicles near communist authority offices.
Some estimates put the number of empty homes at as many as 64 million, with up to 20 new cities being built every year in the country's vast swathes of free land.
The photographs have emerged as a Chinese government think tank warns that the country's real estate bubble is getting worse, with property prices in major cities overvalued by as much as 70 per cent.
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Property bubble: Zhengzhou New District features vast public buildings that have never been used
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This $19 billion development is packed with blocks of empty houses
Many of these cities were built with ‘Stimulus Packages’ to produce work for a product no one needs.
Another major part of China’s inflation problem is the price of food, which increased more than 11 percent in the past year. While some of this increase has to do with changes in international food prices, much of China’s problem is a function of increased agricultural wages. As has been pointed out elsewhere, the pull of higher wages in urban areas has left China with a depleted rural workforce. In some areas, this has led to a doubling of wages for farm laborers. Rising food costs indicate that these increased labor costs are being passed on to the Chinese consumer.
The story you have not heard is that China is in worse shape than the USA.