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 â€“ about 100 million square feet of zombie space. All over town are dark buildingsâ€¦
“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.”