Interesting that they mentioned Zhengzhou. Spent a week there and I didn't notice anything "empty" about any part of that city. There was a lot of construction, but that was evident in all three cities we visited.
The mall bit was kind of eery. The mall in Zhengzhou wasn't too busy when we went there, but the Wal-Mart right next door was packed every day.
This could all be a timing thing, tbh. As said before, in China, a population the size of NYC is transitioning from rural to urban areas every month. They have to find a place to put them. Overpriced apartments aren't going to do that, but since it's a centrally-managed economy, they can get what they can now from those who can afford it, then distribute the remainder at lower prices when there's increased pressure from the populace as the middle class grows once the rural families move to the cities, get more educated, and take root there. The trick is going to be keeping up empty infrastructure while that happens.
The mall bit was kind of eery. The mall in Zhengzhou wasn't too busy when we went there, but the Wal-Mart right next door was packed every day.
This could all be a timing thing, tbh. As said before, in China, a population the size of NYC is transitioning from rural to urban areas every month. They have to find a place to put them. Overpriced apartments aren't going to do that, but since it's a centrally-managed economy, they can get what they can now from those who can afford it, then distribute the remainder at lower prices when there's increased pressure from the populace as the middle class grows once the rural families move to the cities, get more educated, and take root there. The trick is going to be keeping up empty infrastructure while that happens.
“Everybody is a genius. But if you judge a fish by its ability to climb a tree, it will live its whole life believing that it is stupid.”
― Albert Einstein
Doing the popular thing is not always right. Doing the right thing is not always popular
― Albert Einstein
Doing the popular thing is not always right. Doing the right thing is not always popular