I have written before about China’s ghost cities … see: China’s Ghost Cities … in itself a remarkable relatively-untold story. Now, in the daily timewaster blog I found the above spectacular video of how these economic follies there are being razed!
This is at the center of China’s current real estate crisis … see: Daily Wire Story.
My guess is that this has a lot to do with China’s decades-long economic boom, it’s projected declining demographics, the strange way mortgages are written there and the ongoing collapse of its real estate developers like Evergrande.
When highly-centralized governments make a mistake in planning, it’s usually is a doozy. Can I compare such whoppers to our Green New Deal?
STAND UP FOR DECENTRALIZATION!
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