China’s zombie growth

If you stop to take a second look, it’s quite obvious that much of Tianjin’s glittering new (and expensive) apartment and office complexes are empty. Yet the building continues. This is happening all over China:
“China continues to build despite an excess of empty commercial real estate.

“Last year, approximately one out of every four square feet of commercial office space in Beijing were empty – about 100 million square feet of zombie space. All over town are dark buildings…

“It looks like growth. But it is zombie growth. People build bridges to nowhere rather than working for profit-making enterprises. Concrete is used to put up cities where no one lives.”

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