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China's "Ghost Cities" in Pictures

Discussion in 'World Economy' started by Dublin 4, Feb 20, 2016.

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    Dublin 4

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    Dublin 4

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    FINANCIAL CRASH WARNING: China’s debt could cause economic disaster ‘worse than 2008’
    CHINA'S mounting debts are a huge cause for concern and could blow up into a financial crisis worse than 2008, experts have warned.

    The colossal country has seen its GDP to debt ratio soar to eye-watering levels, from 148 per cent at the end of 2007 to around 277 per cent at the end of 2016.


    [​IMG]

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    FINANCIAL CRASH WARNING: China’s debt could cause economic disaster ‘worse than 2008’
     
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    [​IMG]

     
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  16. Celtic Savage

    Celtic Savage New Member Political Irish

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    If I remember correctly, they said they build all those cities for projected population growth. I'm sure that's what they told their investors too...

    [​IMG]
     
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  17. anderson

    anderson Respected Member Battle Royale Political Irish

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    Lol, it does beg the question if they are white elephants or something more worrying?
     
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  18. Ire-land

    Ire-land Legend Donator Battle Royale Political Irish

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    I was in China last year, and there really are miles upon miles of massive tarp covered apartment buildings, it's bonkers. The place I was staying was even weirder, it was like a movie set, is the only way to describe it. None of it felt real. And there were far too many people working in the hotel we stayed in, I kind of got the feeling they were unemployed, so their jobs were a sort of welfare set up- not a bad idea, if it were the case.

    But overall, I came away with the feeling that there was some sort of bluff going on. It struck me that the excess of housing was related to a predicted population growth, again, not a bad idea. But the sheer amount of tarp covered buildings was shocking, and I wondered how they could ever be filled.
     
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    Dublin 4

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    Great to see this Thread getting bumped.

    I was plugging it un-responded to for a while as it's a worthy Topic & deserves more than the Views & replies that it had.
     
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  20. Celtic Savage

    Celtic Savage New Member Political Irish

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    Yeah, if the Chinese economy is on the rocks, it could make the global '08 recession look pathetic in comparison. If a country like China can't pay it's debts or simply goes bankrupt, that will have a domino effect.


     
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