Wednesday, March 30, 2011

Massive Interventions, Massive Mistakes

We've seen Chinese ghost cities before, such as Ordos, here is a look at another, but really...aren't they all the same?

The video speaks for itself. If anything, just know that everything you've read about how great any new shiny object is, should be treated with extreme skepticism. Perhaps someday we'll realize that fateful line from Kevin Costner, "if you build it they will come" is full of BS and will only bring ghosts.

"It isn't the quantity of GDP, but the quality that matters, thus creating a huge problem for the future." Smart person interviewed here. All supply and massive infrastructural investment with no demand. Basically the exact same thing we've been doing for 50 years except on imported, generic sino-produced, pharmaceutical grade steroids.

China and Dubai have been trying to prove "world class" by copying the mistakes of the US that were fueled by oil and the spoils of war. The previous two countries have neither and we're running dry of both ourselves.