Footage shows African ‘ghost town’ (info)
I actually don’t entirely understand how the Chinese govt dumping $$$ on unused infrastructure projects helps keep their econ aloft. Can someone explain??
I guess it’s just like a managed real estate bubble, as long as the investment keeps flowing (from the Chinese government?) the workers get paid, buy stuff and employ others. I’ve heard Chinese investors are still buying empty apartments that no one can afford to move into, as well as real estate of dubious value around the world. Maybe it’ll burst like the US housing bubble when investors panic but that was the private sector going crazy. Then the government is supposed to step in and bridge the gap (with more infrastructure?) but I don’t even know where private stops and public begins in China. Presumably the Chinese government has a lot of credit so maybe it can just go on building?
