Like I always say - China is different. No doubt it is a big ponzi scheme but without direct foreigner access to whatever mkts, how can foreigners short the mkt to force the system to find a equilibrium
(05-03-2013, 06:37 PM)Behappyalways Wrote: [ -> ]http://www.youtube.com/watch?v=uxjwhk1kt...yjJRNF12cw
Listing of Ghost Towns
I thought that this is not news but "olds"? Read about it around 2 years back. Most of these ghost towns (新区/小区) are in the 2nd or 3rd tier cities. Do they matter in the larger scheme of things?
Jim Rogers quoted in the past that historically the most important resource for any city is water. No water means no city means people will move away and many of china's cities have serious water problems.
Researcher says in Beijing alone of the 100 rivers only 2 or 3 can be used for tap water the rest are heavily polluted. Even the researcher also don't dare to drink the tap water.
http://www.voanews.com/content/beijing-r...89425.html
I'd say give it another 20 odd years the problem will reach epic proportions by then and then somebody will decide that since there's all these ghost cities in ready to move in condition and no pollution everybody will rush for the exit then overnight prices of real estate in these ghost towns will skyrocket.