Touring China’s ‘Ghost Coast’
Zarathustra, Macrobusiness (hat tip: NC)
What is found is a lot of empty buildings. It is Zarathustra's post and work, and I don't have too much to ad.Over the Chinese New Year, I went to one of the rather more bubbly spots in China (mainly for holiday, but also to watch some ludicrous pace of property development). Hainan province, a south-most province of China, known probably for its hot weather (among others that I know and don’t know), is dubbed the Hawaii of China. And as the matter of fact, this is not the first property bubble for Hainan.
With the help of friends who live in one of the small towns in Hainan, I was able to look at these properties in a way that no tours can offer, as we sneaked into construction sites, sales office, and unoccupied houses.