Ghost towns in China! Blame the crisis?

[Christophe]

http://dailygeekshow.com/2013/09/18/par ... -la-chine/

[Arnaud M]

It is since 2009 that we know that this real estate crisis has been brewing in China, they had credits to build offices and they were building much more than the estimated future demand.

[BobFuck]

It's been a while since everyone has been aware

It's pretty simple, part of China's growth is fictitious GDP driven by the state building ghost towns in the middle of nowhere.

It is the same principle as subsidizing solar panels in Germany.

One of the big problems with all this (besides the monstrous waste of money, resources, etc.) is that it is partly funded by private investors, who will be ruined, and also, of course, taxpayers ...

It's planned economy, so it doesn't work. Since time, we should know!

[Christophe]

It's planned economy, so it doesn't work. Since time, we should know!

Immediately the big hooves and clichés ... Do you want to talk about the Detroit bankruptcy?

https://www.econologie.com/forums/post263676.html#263676

[BobFuck]

Detroit is the opposite:

1- A prosperous industrial city

This prosperity induces strong revenues for the local government (muni, state, etc). So, he began to manage a lot of services, hired a lot of civil servants, paid them very well and made them promises of golden pensions.

2- industries move or close (relocation, competition, crisis, unions, etc.)

So there is no more work.
Those who can leave, only the poor remain.

Local government income is skyrocketing, but accustomed to high income, it does not adapt and makes the cavalry. Gold pension promises for public servants are untenable.

So bankruptcy.


Detroit, it worked very well at one point. At the height of motor city, it was paradise.
The Chinese ghost towns are the opposite: no one has ever come to live there.

The guys who have power at the local level (in China) have bonuses and promotions based on the growth of their sector / province ... So to have the bonus, we create fictitious GDP!

We choose a place. The vermin of poor local farmers is expropriated / deported. We find private investors with montages that present it as a juicy investment, we add generous subsidies. We collect the money, we build, we collect the bribes, it boosts the GDP, we collect the premiums.

But, as the city in question is supposed to be an investment (in fact, these are apartment buildings sold off-plan to naive investors), the price of housing will be expensive ... so nobody can afford them. and especially not the poor guys who were expropriated at the start ... so it's a ghost town.

A private box that does it sinks after 1 or 2 buildings ... the state, no, hence the excesses.

64 MILLION vacant "ghost" houses of the same style in China.

This is the planned economy

[elephant]

No need to go so far, I saw in a fairly recent Paris Match (not in my habits, but must go from time to time to see a doctor ..... ) that there were quite a few in Spain.

Well, it's even on the net:

http://www.parismatch.com/Actu/Internat ... mes-512803

[hic]

No need to go so far, I saw in a fairly recent Paris Match (not in my habits, but must go from time to time to see a doctor ..... ) that there were quite a few in Spain.

Well, it's even on the net:

http://www.parismatch.com/Actu/Internat ... mes-512803

Abandon Village Doel Belgium

"What a small world"

[hic]

Earth
Europe
France
South
Languedoc-Roussillon
Those + 43 ° 39 '15.38 ", + 3 ° 22' 19.26"

Abundant village of Celles - Lac du Salagou

[elephant]

Rather nice place. Squatters accepted?

[Arnaud M]

In the same genre as the Chinese ghost towns there is the new Burmese capital which is empty for the moment.
Either the Asians are completely stupid, or they try to squander dollars as long as people still believe that it has value (but why in cities and not in brothels?), Or they plan large displacements of population soon more natural disasters (which we have failed to keep abreast of).