China's Ghost Cities

[Veritas]

Plz answer my question:
In addition to Erdos and Zhengzhou, Has China the third ghost town?

Two errors in the real estate investors, They can represent the whole of China?

Chenggong

Rise of the Chinese Ghost Town | safe, clean, affordable...

 

[cross1993]

about two of China's ghost town:

1, Zhengzhou, real estate has been sold out through lower prices. Your news out of date.
?????__?

2, Erdos, that is not a question of price. You don't know that Ordos per capita income is higher than in Hong Kong(30467 USD per year).
?????GDP?__
Erdos's trouble that: 1# Erdos population less than 600000. 2# Pastoralists prefer to live in yurts.

 

[cross1993]

Chenggong

Rise of the Chinese Ghost Town | safe, clean, affordable...

Chenggong is a government office building and universities concentration area, they will use it this year.
呈贡新区会成为下一个郑州郑东新区空巢“鬼城”吗？ - 金碧杂谈 - 金碧坊 - 社区|微博|游戏|论坛
呈贡新区会成为下一个郑州郑东新区空巢“鬼城”吗？ - 金碧杂谈 - 金碧坊 - 社区|微博|游戏|论坛

 

[cross1993]

Economic crisis?
China's rapid economic development over 33 years.
This 33 years, the world has experienced four economic crisis, none economic crisis hurt the China. Did Western economists really don't know the reason?

Let me tell you:

1# Money can be used to solve the economic crisis, If you have enough money, you can crush any crisis. The Chinese govt is not short of money, particularly foreign exchange.

2# China is a socialist country, the law allows the government to intervene in the market.
For example, Indian govt can not solve the onion. But the Chinese govt only use one day to solve the price of salt.
2011, China's cooking oil price rise. January, Hu Jintao visits the USA, He announced to purchase of 3.07 million tons USA soybeans. Cooking oil price is crazy fall.
In China, No businessman and Company can challenge the Chinese govt. Otherwise, they will certainly bankrupt or bad luck, For example, Google and Baidu. Have you heard of some socialist countries go to an economic crisis? No, you have not. So China will not be the exception.

3# If China go to an economic crisis, all the country's economy will enter the winter. China does not worry about the lack of assistance.

 

[Veritas]

Economic crisis?
China's rapid economic development over 33 years.
This 33 years, the world has experienced four economic crisis, none economic crisis hurt the China. Did Western economists really don't know the reason?

Let me tell you:

1# Money can be used to solve the economic crisis, If you have enough money, you can crush any crisis. The Chinese govt is not short of money, particularly foreign exchange.

2# China is a socialist country, the law allows the government to intervene in the market.
For example, Indian govt can not solve the onion. But the Chinese govt only use one day to solve the price of salt.
2011, China's cooking oil price rise. January, Hu Jintao visits the USA, He announced to purchase of 3.07 million tons USA soybeans. Cooking oil price is crazy fall.
In China, No businessman and Company can challenge the Chinese govt. Otherwise, they will certainly bankrupt or bad luck, For example, Google and Baidu. Have you heard of some socialist countries go to an economic crisis? No, you have not. So China will not be the exception.

3# If China go to an economic crisis, all the country's economy will enter the winter. China does not worry about the lack of assistance.

I am talking about Property bubble. China is not immune to economic crisis, there are many things in the world that are beyond control of China for example: Oil prices. For last 100 years the world did not have the kind of economic degradation/stagnation that China experience so there is a general catch-up last 33 years, recessions are the times where economic corrections are made, they are certain not good from employment perspective. Most of the recessions are the necessary evil.

 

[Brotherhood]

Nonsence, people been predicting such so-called real-estate bubble for the past ten yrs. Check out the size of China properties market comparing to a few isolated incidents, making a big deal out of nothing at best.
China Real Estate Bubble a Myth - TheStreet
Perhaps Indians should pay more attention to your own real-estate bubble instead.
Bubble Bursts for India's Once-Booming Real Estate Market - World Property Channel Global News Center

 

[Vinod2070]

Indians talking about child labor in China is like the poor beggar in the slums, laughing at a businessman that walks by for driving an Audi instead of a Rolls Royce!

You are truly deluded. People like this reminds one of the underside of China and why all your real neighbors are so suspicious of you.

Actually suspicious is a very mild word to use.

You act as if you have arrived. You have not.

I used to empathize with China, perhaps still do. But wannabe trolls make sure people don't fail to see "dirty Chinese" (aka dirty American) side of you.

 

[Vinod2070]

Plenty here is posted under a shield of sincerity.

We have a saying in Hindi which literally translates into: A person gone blind in spring will see only green.

I am sure you have an equivalent in your language.

You can't hope to see facts with the jaundiced eyes. No one really cares about that either.

 

[Vinod2070]

wow

you guys start the thread and wanna talk about 'construction'

normally we don't care about india

Perhaps where you come from, you don't learn to understand the differences between individuals.

Even if a guy started a thread, what the hell were you doing posting that picture.

Just a insecure wannabe mind?

There was nothing negative in the thread, only in the minds of some wannabes.

 

[webber]

Perhaps where you come from, you don't learn to understand the differences between individuals.

Even if a guy started a thread, what the hell were you doing posting that picture.

Just a insecure wannabe mind?

There was nothing negative in the thread, only in the minds of some wannabes.

well said

 

[Vinod2070]

well said

Cute smile.

 

[BigTree.CN]

Yeah, let us thank Indian members for posting this thread.

THANK YOU!

 

[Kevrai]

There are many ghost towns in the world, For example, USA-Detroit, Spain-Yerbys, Australia-Brisbane...
That is overcapacity. Fuss!

what the hell are you on about...Brisbane is one of the fastest growing regions of Oz and there is a lack of housing!

 

[Aramsogo]

A property bubble in china and building of Ghost towns as a method of "fudging" GDP is a serious issue. It effects every one because to a great extent, great quantities of Iron ore that is used in China's construction also comes from India along with Australia and other countries.

Who is providing the Credit to the Constructors ? Many of the Chinese banks have bad debts which actually pale Citi group which is perhaps the worst of the US banks in terms of debt to capital ratio. But the Chinese banks are prompted by the Government to give credit to these projects. It is more like the AIG scheme where it used its credit-worthiness for Credit Default Swaps, initially making money and ultimately "bankrupting" the entire organization.

Sooner or later, the reality will set in, if these properties are unoccupied either by sale or rent, it is going to hurt many people, in this case probably the taxpayers of the entire country

Thank you

First, China is the engine of global growth for the last two years. Second, you act like China has never faced a banking crisis before. In the late 1990's all Chinese banks were insolvent and millions of people were laid off from state own companies during massive restructuring. Was there civil war, mass starvation and was China divided by warlords ?? NO.

These ghost towns were built with cash. Chinese banks are some of the soundest on earth. Western commercial real estate concepts like debt service coverage ratio need not apply. That's why the housing is kept new and not rented out. Think of these properties like gold. They are a real asset used to store wealth. China has bought enough US Treasuries. Gold prices has already gone up 4x. Is there speculation? Yes. Is there misallocations of resources?? Yes. Will it end like a US, Irish, Spanish and Mumbai bubble?? NO.

 

[oct605032048]

Yeah, let us thank Indian members for posting this thread.

THANK YOU!

Interesting signature.