China’s economy haunted by endless fraid of ghost cities


Some of the statistics in this tour de force of Chinese ghost cities is are mindblowing:

  • property values down 90%;
  • enough vacant realty to house double the population;
  • hundreds and thousands of towns with occupancy rates below 10%;
  • mysterious hulks of half-completed developments designed on hallucinogens.

All of it was built with Aussie commodities and then pissed away by mining trillions.



About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.