Tuesday, December 08, 2009

China Builds A One Million Person City - Sadly, Nobody Lives There

This is phenomenal. We complain about a bridge to nowhere, well how about a city of nobody.

This video - from Al Jazeera of all places - highlights a city built in China from scratch in the last few years that has virtually no citizenry.

This is China's GDP.

Stimulus? No.

This is clear wealth destruction in the guise of jobs. It would have been a much better use of capital to just send the money back to citizens in cash.