China's Empty Cities
February 24, 2010
Harry Dent's Blog had a wonderful post today showing the growing problem of Chinese Ghost towns.
The American West used to be littered with "ghost towns." Sometimes, a settlement outlives its usefulness. Perhaps a town used to be an important rail head, but new railways made it obsolete. Or perhaps soil erosion made the area unsuitable for agriculture. There are really an infinite number of reasons why small towns could be found empty. But a major metropolis?
In China, things are done on a massive scale. Even ghost towns.
Check out the following video to see how truly ridiculous China's infrastructure bubble has become:
