Bubbles? Misleading economic data? In China? Don’t be ridiculous.
On the other hand, via the FT:
Chenggong is a new town near Kunming, one of the main cities in the south-west of China. Construction started in 2003 and the results are now apparent in 13 immaculate local government buildings, each clad in marble tiles. A high school boasts an impressive indoor swimming pool and several of the region’s main universities have built large campuses. Pristine high-rise apartment blocks stand in rows, their new windows glinting in the subtropical sun.
The one drawback: at the moment, Chenggong is almost completely empty. Its wide streets are all but bereft of traffic, a bank branch has no customers and leaves collect in the foyers of the municipal offices.
(H/T Josh Reviews Everything)
Related links:
China property bubble: Real or imaginary? – FT Alphaville
China: ‘It’s simply because people are rich now’ – FT Alphaville
China New Village Makes Chanos See Dubai 1,000 Times – Bloomberg
Wealthy residents reach for the sky in richest village – Shanghai Daily