Why did The Juilliard School chose a little known city in China for its first ever overseas campus and why is that a big problem for China's mounting debt? (Hint: the city is footing the $225 million + construction bill.)https://nyti.ms/2IpnIU9
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@caoli & I visited last month I figured the descriptions of it as a 'ghost city' were overdone. But we went on a weekday and weekend and found hardly a soul. There were skeletons of buildings, construction suspended. It was so quiet you hear the wind blowing loose cables.pic.twitter.com/FxUIQxAAC6
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This underground mall had a pet shop with no pets & no salesperson. When we came back the next day there was a guy who told us the only thing we could buy in the shop was one tin of cat food. There were storefronts with empty shelves. It felt like being on a movie set.pic.twitter.com/ibKnUIXPLQ
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A parking lot attendant told us that construction on this building (right side) stopped 8 yrs ago. It's hard to imagine how the gov't will pay this bill. It's offering companies free rent & tax subsidies. Still, one tech worker told us his 28-story has only a handful tenantspic.twitter.com/h2uHJ2UjXZ
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Sometimes the scale of things in China is overwhelming and I have to remind myself that there are 1.4 billion people here. But places Yujiapu still leave me with a pit in my stomach: there appears to be so much excess.
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I bet it’s missing a failing subway system. That’s what they need to get people to come.
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