Dubai - China's Ghost Cities and Malls
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Documentary by SBS Dateline (Australian TV) about the Chinese real estate market. Original link to SBS Dateline video: http://www.sbs.com.au/dateline/story/watch/id/601007/n/China-s-Ghost-Cities For my views and possible ETF investments to play China's real estate bubble collapse: http://etf-investment-ideas.blogspot.com/2011/03/chinas-ghost-cities-and-malls.html
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The alternative landscape of China is like DPRK.... Horribly empty. .
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10:34 gaga lmao
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Guys, I only want to tell you the video is both right and wrong. I mean the video was right 5 YEARS ago when this cities were just built. Now the situation is very different. China is not like your countries which are already developed and change very little over 5 years. If you are really interested, come China, there are plenty of chances with very fierce competition~
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a chinese report said all ghost cities nation wide need 3.4 billion population to fill up!
全国"鬼城"可住34亿人!细数中国十大"鬼城"
http://money.jrj.com.cn/2015/09/28071519872674.shtml -
actually to find a ghost build in any cities in china is really hard job .the building show in video now is a very hot place . why china does not have such place like in video talked ? firstly you have to know what is socialism.socialism in china actually is hybrid system from capitalism and Communism . sometime the location of real estate property cannot get much interesting from people .then goverment may use communism way to help that place . such like force to move famous school and hospital even university or open a sub- division to that place (because in china best schools hospitals universities all owned by status ) . most time that place will be quick hot after those action . but may some place really not luck suck near crematorium grave or waste incineration plant. then government will not sale those land . those land will use to build social security house .those house will sale in a very cheap price or offer as a very low rent rate (almost free ) .no more 10 years . those place will soon from farmland to be a mature living community.
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The ones building the homes should be able to afford them. such backward economics. Everything is over inflated price wise. But low wages make it out of reach. How did the disparity between wages and price get so out of balance?
I don't know, but i.m sure greed plays a role. -
hey amazing channel got a new subscriber
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2:35 They don't buy the toys because they're all made in China
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It's 2016.zhengzhou is not a ghost city.
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why is there is no industry to support workers near these empty cities?
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China's bubble won't burst. These people are forgetting one key fact. China is still a communist country and unlike the totally free market economy in Europe or America, Chinese government still retains immense control over most infrastructures and most large corporations are partly owned by the state. And since their government doesn't come from elections, they have total freedom to make key economic policies in total unity and continuity. Too much selling on the Shanghai stock exchange?? Government order immediate shutdown...this kind of intervention is bloody impossible in the Western style economy. So, even with all these exuberant spendings, the government and it's tightly controlled investment firms knows exactly what they're doing. So NO there will be no bubble bursting in China anytime soon.
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its 5 years later, i wonder what the toy shop owner is doing
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how is it not vandalized?
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'How to bust an economy that has the potential to be the strongest in the World 101'. It's about time these 'bankers' ( I'd use a different word that sounds the same) were held accountable for their actions. This is but 1 example of how they screw countries with the economic game.
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those damn commies! Reds!
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11:45 is a classical example of intentional wrong translation and putting words in the interviewee's mouth. The man said '' my personal views are not that easy to formulate/ hard to say. i myself am also in the real estate business. in this business, there's a lot of stuffs, which i know the working of. to rant about it will be like slapping myself in the face''.
typical western media politically motivated propaganda ''documentary''. -
6:18 this idiot is hilarious in his attempt to fabricate this so-called chinese housing market bubble which is supposedly worse than the US' . Nothing is ever worse than that of the US. Chinese dont do CDS and CDO's. a house is a house in China, there are no 200 people betting on or against it like the giant monkey casino the US is which lead to the inevitable crash from 2008 on. when a Chinese person buys a house, he pays for it upfront entirely or for a large part. a chinese house owner is not borrowing money that he or she dont have , unlike the americans who take fucking 3 mortgages on houses they havent even start to pay off yet and go on to buy a boat and a car and goes out party 5 nights a week meanwhile they dont pay off their mortgages on time and dumbass bankers at pension funds and hedgefunds and financial crocks are betting on the housing price going up in the stock and bond market while homeowners go default.
So what danger of default is there from the home buyers? nada. zero. if the house price goes down, so what? more joy to the house buyers. and for those who bought 5 houses and only living in 1 while waiting for the price to go up hoping to cash in? well sucks for those speculators. fuck them. -
this is happening everywhere, and everybody says its the goverment but the goverment is just a puppet for the banks, its the banks and the families who own them who are destroying todays global economy
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i want to squat there so bad
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this is like the 2012 movie where China is like a Shangrila, an Ark of Covenant, for the rich people in the world, when the established world order enters chaos. So all the rich will fly to China to live in the ghost cities, when the world order goes into the tank. To think they built these cities for their own people, is a stretch.
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