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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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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That's because people have to build a city, not a government.......
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I had a similar reaction to the Shanghai Hongqiao Central Business District during the “grand opening”. However, the transformation over the past two years is crazy. It is bustling now.
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Shanghai is hardly a reference. Of course the tier 1 cities are fine. The further out you go the harder to create that kind of growth simply by building. The first infrastructure paid off well. The marginal effects of more infrastructure diminish, though.
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Didn't we already do this with Zheng Dong in Zheng Zhou which now have 5mm population and Ordos which has now reached half its target population
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I mean, anyone remember the new towns of UK like Milton Keynes?
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If you build it they will come.... maybe later....or maybe not....
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