“They are building stuff that nobody really wants or needs… and there will be a day of reckoning” sums up yet another mega ghost city project under development in China. As NBC News reports, China’s $50-billion knock-off of the Big Apple – near the port city of Tianjin, some 120 miles from Beijing – complete with its own Rockefeller Center and Twin Towers has been billed as the world’s largest financial center in the making. But this Manhattan still has a long way to go…
Ian Williams explains nothing has improved in China since we last highlighted the ghost city phenomenon…
This post was published at Zero Hedge on 11/11/2014.
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