Totally COLLAPSE! 3,500 New Ghost Cities Emerge in China: Trillions Wasted in Spectacular Missteps 

That’s so interesting! Your mom said the same thing when you where born!

No, you're breath taking

@@MisterZalgoHe is correct tho. Total waste.

This video makes me really suspicious of where the money and capital came from to build these empty projects. It makes me suspicious that much of the wasted capital actually came from retirement funds and sovereign wealth funds of other nations who invested in these Chinese developers and are now going to be losing those investments. The capital is real no matter what some party or group thinks.

We’ll see. When the migrants take over, or a huge catastrophe happens, you may relocate there, insuring that the owners will get a good ROI. Did you get it?

What happens when you stop paying property taxes in the United States? 🤔

​@@DrakeDealerdiversion won't work sir. Someone else who can afford the house steps in and buys it. We did that and paid it off in 9 years.... living within your means does that 😅

@@DrakeDealer not the same at all. Taxes are taxes, There is no end date where the property reverts

@@jonchicas-hw9op You would think the property to depreciate at least 1/70th per year.

@@brianjones7660 yes it can be essentially rented to someone else by the government. Although the United States is miles better than China, you’re definitely ameribrained if you believe it’s that easy to not lose the one thing you need to live a healthy life. Honestly, what a stupid argument. As if there aren’t problems that could arise due to health or other things outside your control.

Because Chinese don't rent out property because they are already renting it from the government. The real question is why would the value of a property go up when the government is leasing the land the building is on to the "owner" and will take back possession at the end of the term. Every year means one less year left on the land lease which means the property should be depreciating. Unfortunately Chinese property "buyers" thought values were only going to go up and did not intend to rent them out.

Because people want to buy in first tier cities, the empty houses are in small cities that overbuilt.

Because they work 12 hours a day. If their commute to work is like 3 hours long then they won't even have time to eat and sleep.

It's crazy. In New York, a condo costs 10 years salary. In China, buying an apartment costs 100 years salary. It is an investment. A young man without a home has little chance of attracting a bride. So his grandparents chip in to gain a descendent. Also, for most of America, a home costs 4 to 5 years wage. There are some expensive cities, but farmhouses (peasants) are the price of an acre, plus $5k for well, septic, power pole, plus whatever mobile home you drag onto the lot. ($5k for the delivery, including setup.) So, for $20k you can live fifteen minutes from Walmart, an hour away from medical care, an 90 minutes from a job (other than minimum wage retail). You get what you pay for: one of the things you pay for is convenience, another is investment.

When supply and demand is decoupled through: regulation, subsidies, corruption, and speculation then there will be chaotic mismatch

You can blame greedy, uneducated people for that.... that's about 85% of the Chinese population.

The same has happened in the U.S. and is still happening.

@@geoh7777 NWO.

@@geoh7777 Not even remotely similar. We don’t have ghost cities.

Worship the global legal structure goy

Remember when all our politicians tried to use China's infrastructure spending as an example of what we should do? High speed rail springs to mind.

@@protorhinocerator142What a stupid thing to say. Public infrastructure is NOT the same thing as private housing. You're aware that one of the major reasons the US has been successful in the second half of the 20th century is investing in public infrastructure like, you know, the INTERSTATE SYSTEM?

@@isocarboxazid I'm not sure you understand how communism works.

Every story I've read puts the number of ghost cities closer to 50, not 3500. That's still a lot of cities, but jumping from 50 to 3500 is quite a stretch.

LOVE the idea of US high speed rail! I hate flying.

In the American west there are ghost towns. The sprung up around gold mines; they were there to service the miners. For every miner there were nine service people; shop keepers, horse handlers, saloons, wenches, school teachers, law enforcement, churches, clothing repair/cleaning, and politicians. When the gold in the mine ran out, the people left. In China, 10k people are the construction workers, and four to one support crew. The source of gold (money) is investors. When the money runs out, the workers leave. The support crew, with no one bringing in new money, leave also. The problem still happens. In Seattle (Washington, USA), Boeing makes jets. During a downturn, the Boeing employees bought a billboard on the edge of town, reading, "Will the last Boeing employee to leave please turn out the lights." Houses could be obtained by legally taking over the patments. Can't do that now, but the warning about "company towns" where one employer brings in the real money (economic foundation), that remains an important lesson.

Also fire hydrants, fire alarms, sprinkler systems, electrical....basically anything and everything can be fake.

Woke corp makes billions off that pollution.

It's the only way to get an income during retirement! What else are you going to do? The stock market there is VOLATILE and nobody trusts it.

Yes that is 100% true and these commies say capilalism the worst thing on earth... 🙃👎

Yeah, I noticed his directions were backwards

@@michaeloakes37 Thank you for pointing that out; I noticed that immediately. What else might he have gotten wrong?

In China all the maps are upside down so that would make the directions correct

Confused east with west, and north and south. Circle jerk

@@MegaSnow121 It's a basic translation error. Directions in most Asian languages are spoken in very different ways than they are in English.

High growth areas and planned communities exist in other nations. The failure of the microeconomics in these areas is reflective of there being no financial reward for a business to start or to be owned in these areas. There is no reason for the person to venture the money and time if there is no long-term benefit to their family for living in such a place. Ultimately, one needs to own their work. If you can not own your work, people just move to where they can.

There are not 2.8 billion modern homes in China. You just bullshitted that comment.

Did I? Tho I didn't mean "homes" as in single family, detached homes. I meant "dwelling" as in real estate. Most of it is in those giant deserted planned communities with dozens of empty apartment towers or in half built apartment complexes that will either never get finished or fall apart before they are. There are dozens of these littered around China some of which have already been knocked down by the CCP. I didn't make it up, it has been estimated by "experts" so are they BS? Maybe, however the real estate market in China is absolutely collapsing. Why? Over supply.@@clowncarqingdao

Combine that with the biggest demographic cliff in the world outside of japan, the shoddy construction of everything and poor investment choices "it aint my capital. IDGAF," and you have the mother of all economic stagnations ahead. The "it aint my capital. IDGAF" is the fatal problem of public ownership of means of production and public (taxpayer) capital as Murray Rothbard wrote, in different words lol. No one has real skin in the game and risk of financial loss, so no one sweats and scrutinizes every single capital allocation.

​@@halrox247the signaling mechanism of pricing is a thing. When it is impaired bad ju ju happens. Our little commie up above wouldnt know about cumulative capital misallocations, but he is likely to see the results in his lifetime in china. Of course he will blame china's stagnation on the source of all evil, America, or just say they didnt government plan hard enough.

Rather a construction worker forgot to turn light off.

@@nowy5 No, it's mentioned in the narrative and highlighted in the video...

Or you could simply enjoy the quiet

🤣🤣🤣So much for going "Green" ♻, eh !?@@nowy5

*one* could go nuts living there. Speak for yourself. As long as i'm living with sane, professional people, it doesn't matter if i live with 1 or 10,000,000 people. as long as they are chill considerate people. last time i was amongst professionals was the navy. you must be accustomed to living in a supermassive rat race with chaos and noises going on every weekend. you can enjoy that

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They're pivoting to manufacturing green technology. I'm not buying ev anymore. Don't want to pollute China, you know.

Their fortune is running out.

No courts was the reason why China was able to develop in 30 years where other western countries would have needed 200 years. From agriculture tin and bamboo huts to skyscrapers

After such a huge investment it's madness to get cheap on the vital infrastructure

and what do they stand to gain from that? The real estate crash was engineered to siphon money globally, because you can just cross it out as a loss. This is the biggest crime syndicate movement of the global mafia right infront of our eyes, yet everyone just blames "communist china". All that money, yet their lower class still live in poverty and the middle class still struggle. Soaring housing and rental prices are happening globally, yet a country with such vast land spends so much to build housing. What for if not as what I stated? And where does all this lead to? The banks. Houses were build for banks, never for the people.

China doesn't have a real legal system.

Finding skilled health care workers, teachers for schools, and commercial workers is not easy. It's even more difficult when the government is attempting to do this in a few years time. It takes 4 to 8 years of university level education and training to fill those jobs. More importantly, the residents can not be charged full price up front at the beginning of the project. For the developers of these sites, they got paid before the project was started. That's unfortunate for the buyer and the future resident. In the rest of the world, the money for the residence does not "close" until the home is completed and inspected. Unfortunately for this situation, the local government seems to have literally put the cart before the ox. The construction needs to be financed by the developer and not the buyer up front.

It's already been done though--History Channels' "Life After People".

It has been done many times.

@@comicus6769 was thinking more about something like Hell Boy or American Dragon.

@@nicholase82Or a low population take on Neuromancer.

Judge Dredd and Chappie vibes

You would need to train communist leaders how to understand economics. That means first getting rid of communism. They will never understand economics.

​@@protorhinocerator142These Chinese Communist leaders have apparently understood economics well enough to develop China into the 2nd largest economy in the world, within the next 10 years China will have the worlds largest economy 😅

China created the high growth GDP numbers by building these empty projects. In normal economics, the lack of immediate ROI would have halted the further burning of capital. But, this is not a capitalistic system. It's centrally controlled and reflects bureaucratic thinking. The correct approach is to look at capital flows and how commercial productive work occurs. With so many square km of rural ag land being converted to these empty cities, it makes one wonder how China's agricultural/food crops are being grown in close proximity to the major cities. Once these projects are built on ag land, can the empty projects really be demolished and the land returned to productivity? Not all of a nation can be cities. The food and water must come from somewhere.

@@goldenpacificmedia China has destroyed much of its own food base in favor of urbanization. The land wasn't that great to begin with. You clear out the ghost cities and you''ll most likely have sand and stone. Not a lot of useful soil.

It only looks simple in a government run economy. Just add a pinch of schools and a dash of manufacturing, top it off with a layer of service industry and voila! 😂😂😂😂. People who want government to remake the world should be required to take micro 101 and macro 102 before being allowed near the kitchen. Even Krugman would probably agree with this moderate libertarian on this one.

It has nothing to do with that, and everything to do with crooked real estate speculation to make a quick buck. Builders pre sell all the spaces. People who buy the spaces flip them. People buy from the flippers to flip. Building never gets built, or remains unfinished, with nobody ever intending to live there in the first place

if you "strengthen democracies" to represent the "interests" of the (national) electorates, how then do you "enforce international law"...? You can only do that by weakening (national) democracies.

@@tedthesailor172 its a copy paste bot

@@tedthesailor172 You sir, are a tankie, and you feel okay with that?

I'm against all authoritarian dictatorships, not just the 5 or so communist ones.

oh shut tf up, u dont know what ur talking about, i live in authoritarian democracy filled with corruption and nepotism, not to mention tribalism and religious fundamentalism, identity politics is burning my country to ashes, id rather have a dictator like lee kuan yew dictate the future of my thousands islands superstate

@@AndrewStevens-cd5jr Not all of them but a good chunk yes. The problem is Chinese people buy property before it's even built, so their investment can end up being worthless. It all depends on luck.

@@momo777777777777777 That and why would you build something that lasts longer than the ground lease? Thats the difference between NYC and Shanghai. Here a 100 story buildings that is 90 years old but its maintained as an asset with continuing value. Chinese buildings age 5 years every year.

@@barryraymond9004 90 years buildings in NYC are money pit, with HOA fees with over $800 no central air, rats etc. Consider China's real-estate as stock marked, what ever you see in this video are losses, can happen.

To bad most of those apartments arent livable tho

how was the construction building? Did they took any Short-cut to save money?

Just like a CoD map!

Or provided to the millions of refugees from other countries to show China's generosity? (Xi isn't the great humanitarian he might portray himself as, needless to say...)

ew COD. battlefield 2030 would be the game @@NegiSenseiYT

Additionally 1000000 inhabitants wants to head to Beijing simultaneously within an hour using one line.

They are basically forced too. Unless you're extremely wealthy you cannot invest or get your $ out of the mainland. The stock market is extremely unstable, leaving only real estate to invest in. Because the CCP knew that capital flight would collapse the economy faster (the policy still didn't work), they've created the biggest bubble in human history. There won't be a functioning mainland economy in less than 10 years. Communism has failed every time (44 different countries) in over 100 years of trying. China will be no different.

China is very racist and hates foreigners.

Racist Han Chinese will not accept the foreign people of any kind...

Why don't they sell the houses for cheap to the next generation. Isn't China supposedly communist?

@patrickmcathey7081 You need to watch the 100 other videos on empty factories throughout China. 😂

Too true. My thoughts exactly.😅

When you realize that a single volcanic eruption is more carbon then humans have emitted in all of history then you’ll know that CO2 emissions are nothing to worry about. It does nothing to the environment. Wake up…m

Being part of building a stable economy based upon proven economic principles. Imagine what things could have been accomplished seeking to better China, becoming a world leader in showcasing what happens when you ask not what your country can do for you, rather, to aaask whaat YOU cain do foer yoour COUNTRY! *applause*

the wef🐍world economic forum globalist🐍elites should send those people in africa and south and central america into china to fill those ghost cities that the ccp🐍/cpc🐍have built for many tears..

There is not much demand for recycled concrete. Concrete setting is a chemical reaction like burning coal, which takes huge energy to reverse? Note that there are zero industries turning ash and air back into coal. Sadly the amount of greenhouse gases created by making all the cement and steeel that was wsated is these buildings is enormous. Hopefully they will stop doing that now.

No. They will just let it rot.

My parents have lived in a house for more than 30 years and never maintained the structure. It is probably about to fall apart.