The city of Ordos Kangbashi was designed to be a world-class living space, with modern architecture, extravagant public plazas, stadiums, and slick new housing which sprouted up in the barren deserts of China’s Inner Mongolia. Since it’s inception in 2004, this model city found itself without the one thing needed to make it livable: people and businesses.
This example is merely a bell weather mark of a much bigger trend: China’s demographics simply cannot continue feeding the constant speculation which is driving the Chinese housing market, as well its internal GDP. Too many eggs in one basket? What are the risks for the Chinese economy?
PolyMatter explains why this could soon become the world’s largest and most fatal housing bubble. Watch:
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