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China's Latest Ghost Town: A $50 Billion Fake Replica Of Manhattan
"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...
China's $50-billion knock-off of the Big Apple sits on a river bend — much like its namesake — near the port city of Tianjin, some 120 miles from Beijing. Complete with its own Rockefeller Center and Twin Towers, it's been billed as the world's largest financial center in the making. But this Manhattan still has a long way to go.
A recent visit shows that construction that began in 2008 on the back of a massive credit boom unleashed in China after the global financial crisis appears to have ground to a halt. While the stunted version of “Rockefeller Center” and its Twin Towers appeared to be complete — both were empty and fenced off.
"It’s the financial crisis. The impact is big," said one man on the site who preferred not to be identified but said he worked for a transportation company. "I think there are still working on a building over there," he added, pointing down a wide and empty highway, strewn with litter.
...
It was scheduled for completion in 2019, offering 164 million square feet of office space over an area larger than Manhattan's financial district in a bid to stimulate development of vast residential districts nearby.
"They are building stuff that nobody really wants or needs — and there will come a day of reckoning," explained Gillem Tulloch, a Hong Kong-based analyst and managing director of GMT Research who has studied the growth of China's "ghost cities" across the country.
...
"Our leading economists in the West were lauding the Soviet-style system from the 1950s up until the 1980s," he said. "They were all wrong. I think it’s the same with China."
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Words ? The ultimate bubble ? Building unwanted buildings - that is something I never thought I would see.
You don't build a city for nothing. The Bankster maggots have focused their psychotic eyes on China for obvious reasons. Agenda 21 will force country folk into the city where they can be observed and tazed easier.
That's just fucking creepy. Add the "fake New York" to my list of "never plan to see" along with the real New York and Las Vegas.
On the upside, that place would make for the world's most epic paintball game.
It won't be considered 'REALISTIC' until they pack it with whiny ass jews
Preparations for World War 3.
Precisely. To think the Chinese are stupid enough to build these cities without a purpose is laughable. They are planning for a quick transition after the inevitable war due to the collapse of the paper game.
Twin tower replicas? Fly a couple jets into them and see if they fall down.
I proudly give you +1
This might be sincere effort to get rid of confetti dollars before it goes worthless. I will definitely do that if I have cash in the bank and convert it into real assets. IMHO
The trash looks authentic.
I'm gonna go out on a limb and say that they won't collapse.....and these are probably made of cheap plastic
Fake Plastic Trees and all that.
Krugmanomics in action to extend the Ponzi. Next stop - When Mars
Attacks.
They can build a high speed rail and a big fancy skyscraper city … yet you still cannot safely drink the tap water or eat much of their food wthout getting deathly ill.
Freeden might call it, “Paradoxical!”
Are you talking about California? Yeah - I agree.
Jerry Brown wants high speed rail and the place is bathed in Fuki water now.
Agenda 21 cities is a good call but let's not forget the possibility that major portions of Japan may/will? be evacuated when the Fukishima catastrophe accelerates. Call it a long shot but these Ghost Cities may have been built for that purpose all along.
I don't believe that the Chinese are that fond of the Japanese!
I've been living here (China) two years and have never gotten sick from the food. Can't say that about American food.
BTW, before you get up on your high horse, just a reminder. The citizens of China's big cities, like Beijing, Shanghai, Shenzhen, etc, live longer than Americans.
You believe Chinese government longevity stats? Boy are you gullible.
Even this article is fake...brought to you by the Ministry of Truth.
Complete with Twin Towers replicas, and the melted steel running down the channel rails, and the empty gold vault under WTC6, and they hired Jane Standley from the BBC who performs every day at 5PM, announcing the collapse of the Solomon Brothers Building (which can be seen standing behind her).
God help them if they ever have a simple office fire!
where they are planing to stop their Manhattan? 97th street, 125th or all the way to bronks?
Give them a little time, they'll fall down without any planes
If they are built to same the standard as most chinese crap I don't expect them to last.
I've always dreamed about becoming a miluti billionaire for this exact reason. I would build an exact replica of the twin towers and crash some boings into them and see what happens, put the matter to bed.
Gee, would those replicas look like the real ones 1 yr after a 'suitcase nuke' gets detonated in downtown Manhattan?
Right. In an all out war, no one would think to target empty cities, since all they could be used for is as a place to retreat and regroup.
I was thinking more along the lines of Deathrace 2000.
Why the hell not? They rip off everything else.
Escape From NYC with Snake Pliskin and Adrianne Barbeau's hoots.
http://www.submachinegirls.com/wp-content/uploads/2013/01/cleavage-galle...
Silly Chinese with their empty cities, yellow skin, slanty eyes and Three Gorges dam.
However, just curious, what is the US building? What is our ever-so-practical $50 billion project?
The Chinese have surplus to waste. The US are debtors working on a $17 trillion project.
Going billions in to debt in order to build something useless has nothing to do with surplus, malinvestment should never be something to look up to. It's wasted capital. This is sad for the Chinese people because their government basically fucked them over with bad policy, just like ours has.
They have no surplus. They printed debt at an even higher rate than us ($23T). They have a half finished city to show for it. We have repainted bridges. Woohoo!
So they basically printed money on the same program as the US per capita. I can't believe canada doesn't get on the same page. I can imagine if my province got six billion per year out of thin air.
Maybe it's just the set for a remake of Escape from New York!
Why would one never want to see New York?
Why would one never want to see New York?
The people.
do they have an empty replica WTC7 as well?
May they all mysteriously free fall into their own footprint.
After Larry buys them and acquires insurance from the Russians and Iranians...
"? ?"
http://www.youtube.com/watch?v=-5EmnQp3V48
I bet their NY Fed has that sulphur smell plus no gold in the basement like the NY Fed.
The connecting tunnel to the former JP Morgan vault also has no gold.
It collapsed in on itself about 20 minutes after BBC China reported that it had collapsed, but the feed went dead just before the collapse
Over 100m people (that is a combined population of California, Texas, NY and Florida) need to be moved over the coming 6 years from rural areas to these empty buildings. This is the main reason why these 'ghost' cities have been built. A couple of years of emptiness is better than several years of traffic congestion, uncontrolled urban expansion etc (but only if you can afford it and actually care for your citizens, which is an alien concept in Western countries where capitalism for the rich turns into socialism for the rich at every loss making point).
China initiates migration of 100m farmers into citiesDo they really NEED to move those 100 million? Even if they do it won't fill even half the 70 million empty apartments. Average Chines house size is just under 3 people, so that fills less than half the existing excess stock.
They are also building another million or so new apartments each month that are excess to demand. If they stop the construction they take away 100 million or so jobs (construction workers, steel mills, cement factories, transport workers etc etc) and 16% of GDP.
So if they continue with the malinvestment they will be fucked and if they stop malinvestment they will be fucked.
I don't believe someone with USD 4 trillion can make too much of losses with real estate because they have a lot more maneouverability.
However, do you have any source for 70m empty apartments? That seems like a lot in an over populated country.
Also, many of 'cities' have malls and other commercial real estate too.
We all have been awaiting an 'imminent' collapse of China (all coming from biased western media) but 10 years is a very long time awaiting a collapse.
I await some source of the 70m or anything close to that number...
Even delivering 1m apartments per month seems excessive....but that is more likely because the demand in larger cities like Shanghai and Beijing etc is simply crazy.
Shanghai and Beijing both are estimated to reach 50m each by 2050. http://worldpopulationreview.com/world-cities/shanghai-population/
Shanghai alone has gone from 16m in 2000 to 23m today and imagining 50m by 2050 .....I really don't know what to say for this scale of growth because it has never happened on this planet ever before?
And remember they are creating millionaires faster than anyone else ever.
Just last month they created 10,000 millionaires in one go when Alibaba went public...in Hangzhou. Just in Hangzhou the population has quadrupled since 2000 from 2.5m to about 10m today and they just created these fellows who are buying everything in sight! Greater Hangzhou area has close to 21m population in the area.
Here is a brilliant article that suggests that just a mid size city like Hangzhou is equal in population to London or Paris yet continues to grow amid green spaces and is an IT hub and generating millionaires and billionaires and is simply unknown outside of China. http://www.citinature.org/city-livability-blog/hangzhou-china-exuberantl...
Just Hangzhou is expected to have more millionaires than LA in the near future. http://blogs.wsj.com/chinarealtime/2014/03/06/in-10-years-hangzhou-will-...
And yes, they really need to move another 7% of their population to urban settings because they too are industrializing and have no need for so much rural/agri labour.
You should really see this from nytimes which is a fascinating article: http://www.nytimes.com/2013/06/16/world/asia/chinas-great-uprooting-movi...
lol, they are not moving these people, these people come of their own accord and once demand starts up in an area it explodes... if you don't plan it out in advance it gets fucked.
They need to move them to steal the land and bring on factory farms with GMO and MonSatan.
It is better to build in advance so that people are not living in tents or under highway oveerpasses. China has a plan. What does America have?
Will it have a subray?
I will take a building. I have $7 in my wallet. I would move the fam there. We could film zombie movies.
Raoul on the CNBS show today,
http://video.cnbc.com/gallery/?video=3000329483
They let him talk. Amazing.
He makes some good points on who is in deep doo doo.
Wow - CNBS has been upgraded (at least this one time) to CNBR - R for "Rationality". Thanks for posting this link - it was amazingly Rational.
Where is China Town ??
No Harlem?
"Forget it, Jake; it's Chinatown"
Soviet Central Planning...
At least they didn't clone Gary, Indiana.
I wonder if it will be complete with lots of rats and a large soda ban...
also, no guns permitted, no knives, only dildos
Is there a Lloyd Blankfein penthouse?
It's not an accurate copy until they get the stale urine smell just right.
The nice thing about this New York is that it is much further away from New Jersey.
Listen
Do you know how cheap concrete is in China?
Basic Concrete = portland cement, sand, aggregate.
http://www.alibaba.com/trade/search?fsb=y&IndexArea=product_en&CatId=&Se...
http://www.alibaba.com/trade/search?fsb=y&IndexArea=product_en&CatId=&Se...
No Biggie...
They'll have endless amounts of concrete. As soon as they demolish all of the unoccupied buildings.
Listen.
Maybe you don't get it. Once Greater Israel is built and finished the FED will for certain close it's doors and America "WILL" turn into Haiti overnight.
Most educated Americans will choose to move to China to get far away the "DUEL" passport holders(Jewish folks who caused the extinction of America).
China is building for "YOU". The soon to be displaced Americans.
See, that's where you are wrong Monkey Boy. We know our Constitution. We know our INALIENABLE rights. We are armed and ready to go. Bring it......
Listen Diaper.
Your going to shoot the Federal Reserve building after the dollar crashes and is non-recoverable, and the Fed gives up and moves back to Israel?
I hope the ricochet misses you.
I really hate this, Bangalore.
I hate to agree with you.
Unfortunately, you might be correct (in a partiality) of your statement.
Personally, I'd pick the Federal Reserve Bank of New York as the first target (but there are 11 others, not including the one in the foreign-held territory known as the District of Columbia).
The banksters came from EASTERN EUROPE, you know, and they are heavily invested in the FAR EAST now. Khazarim and Ashkenazim, you know. Do you want to see the latest improvements in the technology stolen from the West?
http://investmentwatchblog.com/what-chinas-newest-fighter-jet-looks-like/
The USD WILL crash, and will not be recoverable. I agree. (UNLESS...)
EDIT
I can't help it!
Your 'avatar pic', is that a family portrait? Is that YOU giving the dog a bone?
https://www.youtube.com/watch?v=1Rsz6adwyKU
No shit TD...
When they build an Appalachian Trail replica and some functional moonshine stills I'll start getting interested.
On a side note: I can't say, anymore, that the concept of 'INALIENABLE RIGHTS' exists anymore, but I assure you of one thing... The first motherfucker that crosses my perimeter will get a dose of the echo of what it used to mean to myself & some others...
Other than that ~ I'm a peaceful man.
Hmmm...
Who DOES that?
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
http://www.gunbot.net/
PLUS ONE for the downarrowing!
Come out, come out, wherever you are...
No banksters...
Only ghosts.... Fuld, Cayne, O'Neill, Merriwether, Weill, Summers, Hubbard, .....and all their minions.
I think I saw Buffet in one picture though, in the background....
You mean ghouls not ghosts.
ghoul ?o?ol/ noun plural noun: ghoulsI covet the burned pretzel concession.
Maybe they can use this fine city to make "Escape from New York - the sequel". A Chinese Snake Plissken could be considered if Kurt Russell is busy. The movie would serve as a worldwide advertisement of this replica of America's unhappiest city. Who would not want to move there?
Worse comes to worse, they can always make it into a giant prison. The enhanced mortality in that prison and lower costs will surely be superb selling points. Not to mention, enhanced organ harvesting.
Get a Chinese woman with nice hoots like Adrainne Barbeau.
The most funny thing - that they will sell it at the end at least, it's not a paper...
They will not be able to sell it before it decays. No residents means no money or labor for maintenance.
Who besides me remembers the China Hustlers on ZH relentlessly touting the "China Miracle," citing what we can see in these pictures is a ghost GDP to match the Ghost Cities?
"They will not be able to sell it before it decays."
Nothing there to decay. Those buildings are empty shells. No interior fixtures - that comes later at the buyer's expense, including connections to water and electric.
These cities are massive employment projects, similar to what the US did during the Depression. China has an imbalance of males to females due to the one child policy. The army can only absorb so many - the rest become construction workers, and after people move in, tradesmen and service personnel. At least that's the idea.
Will it work? Who knows, but they're obviously intent on trying.
They do build some awesome structures. Asia makes the US look like amateurs.
Marina Bay Sands in Singapore....... http://www.marinabaysands.com/sands-skypark/infinity-pool.html ........ seriously?
How can we compete? Asia has won, we are losing.
"They do build some awesome structures. Asia makes the US look like amateurs."
Marina Bay Sands was an American project. Read up:
http://en.wikipedia.org/wiki/Marina_Bay_Sands
a lot of the architecture in Asia is actually done by western companies.
one example:
http://www.bharchitects.com/en/china
But we are too busy building malls to fill them with Asian products for our mall zombies
At least those Twin Towers will be easy to collapse into their own footprints ...
At least they got the garbage on the streets part right.
For true authenticity, they should get some genuine NY vermin:
A new study has found that New York City’s rats are hosts to at least 18 new viruses, never before encountered and unknown to science. There is a risk of a “a public health nightmare.”
And New York Cops to do illegal 1800 stop-and-frisks every day
Maybe this was the set for the movie "I am Legend" with Will Smith. Insert deserted cars, zombies and overgrown vegetation
https://www.youtube.com/watch?v=ewpYq9rgg3w
oh, i'm sure everything will be juuuuust fine .
Should have waited another few months and bought the real thing
target practice for their nukes?
These empty cities might find some use after the bombs fall.
maybe the walking dead series can continue filming over there
That's what I was thinking. And there's $2.50 worth of irony in the fact that brain-dead Keynesian walkers created the place.
They need to learn the English word for demand...somhow they have screwed that one up...
do their replica banks have real gold in their underground vaults??
Do New York banks have real gold in their underground vaults??
"They are building stuff that nobody really wants or needs... and there will be a day of reckoning"
I thought they were referring to GM.
Did they also build those little carts that are on every corner in mid-town that sell meat on a stick.
Looks like a good place to film an alien invasion or Godzilla movie. :-)
The only question that matters. Are all of the cities being built at elevations above 700ft?
China has to build Ghost Cities or we are going to see one hell of a China Spring
Movie set for the apocalypse. Dorrar a day to film the day of horror.
If you want to make God laugh, tell him your plans.
If you want to piss God off, show him your plans.
If you want to experience God’s wrath with suffering, agony, punishment, loss, and unimaginable humiliation, make it a Central Plan.
$50 Billion and the Chinese got something tangible in return? Amateurs.
Nobody does "Brewster's Trillions" like the USA:
More money for the Pentagon, CBS News Correspondent Vince Gonzales reports, while its own auditors admit the military cannot account for 25 percent of what it spends.
"According to some estimates we cannot track $2.3 trillion in transactions," Rumsfeld admitted.
$2.3 trillion — that's $8,000 for every man, woman and child in America. To understand how the Pentagon can lose track of trillions, consider the case of one military accountant who tried to find out what happened to a mere $300 million.
"We know it's gone. But we don't know what they spent it on," said Jim Minnery, Defense Finance and Accounting Service.
http://www.cbsnews.com/news/the-war-on-waste/
"As I said: Reggie pitches and I catch. The money won't change us." - B. Obama
.
.
D(eep)
U(nderground)
M(ilitary)
B(ases)
When our New York gets blowed up they will have the only New York! (we must not allow a new york gap!)
They are going to move their people into these buildings and start a ponzi scheme like the US, having their people sit at home with EBT cards watching the Amerkans work for nothing to produce the goods and services that the Chinese need.
China copies America yet we're told they are enemies.......which is a complete lie
http://newworldorderg20.wordpress.com/2014/11/08/u-s-oil-and-gas-companies-eager-to-expand-in-china-at-oilcomm-2014/
http://newworldorderg20.wordpress.com/2014/10/27/u-s-navy-practicing-war-games-with-china-chinas-pla-navy-is-still-no-match-for-the-us-navy/
http://newworldorderg20.wordpress.com/2014/11/05/china-not-an-enemy-chinas-richest-billionaires-are-buying-american/
http://newworldorderg20.wordpress.com/2014/10/27/china-to-pitch-high-speed-trains-to-california/
http://henrymakow.com/2014/11/Globalist-Harmony.html
The litter looks just like NYC.
Maybe it is for after the nukes go off.
A big reason dropping house prices in China is so important is that is where almost 75% of household wealth is stored. Here in America a much larger share of household wealth, approximately 71% is stored in financial instruments. The end of the housing bubble in China has the potential to become a huge deflationary "house of cards."
The country is already suffering from massive overcapacity. Much of the recent growth in China after 2008 came from a massive 6.6 trillion dollar stimulus program that expanded credit and poured massive amounts of money into the system. This money encouraged expansion and construction with little regard as to real demand or need.
For years the people of China have had the habit of saving much of what they earn but the low interest rates paid at banks has not rewarded savers. With few investment options much of this money has drifted towards housing and driven housing prices sky high. The economic efficiency of credit is beginning to collapse in China and the unwinding of China’s giant credit spree could be very painful. More in the article below.
http://brucewilds.blogspot.com/2014/03/china-and-great-credit-trap.html
It's better to build empty cities than pyramids. imo.
Explica por favor
Well if the chinese like their ghost cities they can keep their ghost towns
But they are buying all with cash, right?
just missing, the asshole new yorkers.
just missing, the asshole new yorkers.
"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?"...
Simply amazing and too weird for fucking words!
Yes indeed! They love doing things big and "over budget" just like those other people that love the sun and the sand and fractional reserve banking!!!
When it comes time at least we know a few people in Tel Aviv and Washington that can help them with their building safety codes and collapse of their own "Towers' with five dancing fellows speaking Hebrew!
F* NY. That doesn"t mean the fire dept, NYFD is one of the very few things good about NY.
This is simply nonsense. There are people hiding in them buildings, I swear.
If all those buildings that are loaded with people all marched to the ocean, these buildings would not stop dumping into our oceans.
New world currency center...ya right. There as dumb as the rest with free cash.
It's almost like primitive "cargo-cult" type thinking, we build a replica of New York and the gods will make us the financial capital of the world!! or something....
No, no, no. Just ask a prepper.
It's the Ultimate Chinese bug-out shack.
When SHTF and everything falls apart and there are riots in the streets, and Rome is burning.
They will have a pretty good setup for Civilization II.
Its a really awesome bug-out pad.
Holy Moly ... its a pre-fab city waiting for the next society.
Ultimate prepping.
Everone else will be in the woods rubbing rocks and sticks together.
California High Speed Rail, $68 billion.
You didn't think we would let the ChiCom's beat us, did you?
all of this is capacity for the future mass migration of japanese to mainland china.
Actually, it's for the Chinese. You see, we get FEMA camps, but the Chinese get new cities. Great concept.
Malinvestment to the extreme. Somebody got drunk on central planning koolaid. As wasteful as it seems, we have had our share of centrally planned misadventures in the US as well. How about a 4.5 trillion dollar balance sheet at the fed? That seems like the ultimate waste.
How about 125 + Trillion off balance sheet debt of the Federal Government... Now that is some serious debt.
Great scene set for zombie or apocoloypse type of movie productions
I get it. Build all those buildings, then after our nuclear war with Russia, they can export them to us as replacements.
Stupid Chicom assclowns. Next time, build your empty skyscrapers downtown, not 120 miles from nowhere.
You would think, that our Banker friends would have learned their lessons after the ASEAN monetory crisis in 1998. Obviously not. This is indication of Chinese smartness.
Our friends were sacked in ASEAN basically by the same Chinese. And they still think they can control China.
I would venture to postulate that Chinese companies borrowed heavily from western Banks and build such cities. And when the time comes, The chinese companies will go bankrupt.
The chinese Government will not backup the companies as ASEAN Governments were basically forced to by the western Banks. So, the buldings will be simply put up for auction and sold at cheap at whatever price people can afffort. The Banks which loaned to this Chinese companies will go Bankrupt.
Or the US Government can come in again to buy up thses Chinese Ghost towns and bail out the Banks.
More fun is awaiting.
"They are building stuff that nobody really wants or needs"
The statement above is simply not true.
People want and need some better place to live, the problem is they can not afford it
All that money to spend and they copy Manhattan? Why not design and build something original that's outrageously creative and useful that would become a global landmark in it's own right. Stupid arse if you ask me.
I suppose it could be converted into an Obola treatment city in the near future so it might get used.
" ............by printing vast quantities of cheap money...."
WTF does that even mean?
it means lending with zero interest rate
The Chinese should build a building 60 miles tall. That would be impressive. Or how bout a ship 10 miles long by 5 miles wide? How bout a hole allthe way through the earth? How bout a bridge to Japan?
They are certainly a creative people.....
Let's build a couple of scaled down 737 replicas and, well, you know....
These emptry cities are very important to china because with them they will meet Obama's global warming targets without having to do anything.