Ghost Towns (and Malls) In China
An entire city built by the government in China is empty. A clear example of the disaster of non-market driven projects.
The following video shows the world’s largest mall called the South China Mall. It has over 1500 stores, and almost all are… completely empty. A colossal commercial real estate debacle.
While I’m definitely bullish on China over the long term (real long term), there are definite bubbles and massive misallocations of capital and resources that need to be worked out in China. Follow my China investments on my Major Trends page.