Video: Australia on China’s property market and ghost cities

By Edward Harrison On Apr 11, 2011

You have seen a few of these videos on ghost malls and ghost cities in China. This one from an Australian broadcast is quite good. It reinforces what I have been saying about the magnitude of non-performing loans and how this constrains Chinese economic policy.

Very sobering.

Edward Harrison 7783 posts 575 comments

Edward Harrison is a senior Editor at Bloomberg. He is also the founder of Credit Writedowns newsletter, a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.

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1 Comment

DavidLazarusUK says 13 years ago

Empty cities which cannot be afforded by the majority means that ultimately social unrest will occur. China clearly in not concentrating on what is needed. Make the depositors take serious haircuts on empty property and allow people to buy their homes much more cheaply. Once people have a property of their own they can then become consumers to fill those homes.
Anonymous says 13 years ago

Empty cities which cannot be afforded by the majority means that ultimately social unrest will occur. China clearly in not concentrating on what is needed. Make the depositors take serious haircuts on empty property and allow people to buy their homes much more cheaply. Once people have a property of their own they can then become consumers to fill those homes.

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