SBS Dateline’s Documentary On China’s “64 Million Empty Apartments”
Submitted by Tyler Durden on 03/25/2011 07:43 -0400
While Zero Hedge readers have long known about the eerie phenomenon known as China’s ghost cities (and ghost malls), Australia’s SBS’ Dateline has done a terrific documentary on the topic of “64 million empty apartments in China.” As each passing day brings more confirmation that not only is China’s real estate market one massive bubble, but it is also, as expected, completely hollow, both literally and metaphorically. The full brief clip is a must watch for all those who wonder how central planning manages to hit its goal-seeked and manipulated GDP number each and every quarter .We are surprised that in keeping with the Japanese earthquake economic miracle, China has not destroyed the vacant city yet only to rebuild it immediately.
(clip after the jump)
h/t Ian http://www.zerohedge.com/article/sbs-datelines-documentary-chinas-64-million-empty-apartments