Sunday, October 7, 2012

Refuge at "Ghost Towns"

These days have seen talks on China's sharper-than-expected growth slowdown and recent data indeed looks a bit worrying.  But one could hardly forget the economy was just overheated two years ago.

Analysts argued that China made itself mired in an asset bubble then as it sought to polish its economic scorecard by building dozens of vacant cities, or the so-called "ghost towns", across the country. But perhaps that's just part of the story.

World governments are said to be preparing for 2012 calamities and perhaps the Chinese is no exception. The ghost towns, with reportedly 64 million empty homes, may offer a shelter to the homeless when coastal cities go under water, as what most 2012 observers have suggested.

The cities are well located in regions like Inner Mongolia and Zhengzhou. Here's a video introducing that and it contains some English video clips from 03:43.

Full videos:
1/ China's ghost cities

2/ Warnings over Chinese building boom