about to read this but elsewhere saw a claim that in CN real estate is typically used as collateral for loans and i wonder if in this light you can view giant ghost cities as primarily a store of value in china which makes them make quite a lot more sensehttps://twitter.com/HarrierMagnus/status/1442358612383260674 …
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i dont think its crazy, there are stranger forms of money around the world prisoners used to use packs of cigarettes, now cans of mackerel are used the curious case of Yap stones china joins their ranks with giant empty apartments as a store of value if not money per se
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although even there apparently evergrande is trying to pay some debts not with yuan but with apartments so im not sure that its even crazy to call them money proper maybe not quite a unit of value but something close to the extent its near standardized
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