"Growth" meet "mal-investment boom-bust" In a perfect example of the smoke-and-mirror-ness of China's credit-fueled expansion, a 27-storey high-rise building which was completed on November 15th 2015 was just demolished, "having been left unused for too long."
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As China People's Daily reports [4],
Directional blasting demolition of a high-rise building was completed successfully at 7 a.m. on November 15, 2015 in Xi'an, in northwestern China's Shaanxi province.
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The building was 118 meters high (27 floors) with a total construction area of over 37000 square meters.
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Having been left unused for too long, the building could not be brought back into use so local government decided to demolish it.
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It is reported to be the highest building that has ever been demolished in China.
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The silver-lining - now workers can clean up the mess, dig a bigger hole... and fill that in - all in the name of Keynesian "growth."
