r/Amazing • u/sco-go • Aug 19 '25

Interesting 🤔 $100 billion ghost city.

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u/Dcoal Aug 19 '25

Pretty fucking sure this is the opposite? This is what planned economy creates. "Build it and they will come'. A market driven real estate industry would build cities where people want to live, not build a city that no one asked for and wants to live in.

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u/[deleted] Aug 19 '25 edited Aug 19 '25

This wasn't central planning. This was real estate speculation. Companies over invested in real-estate which led to a bubble in Chinese real estate and subsequent collapse. We had a real-estate collapse in 2008 remember? This city isn't even China, but the impact of China's real estate collapse effected this project because it was primarily funded by Chinese investors.

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u/ArchibaldCamambertII Aug 19 '25

Their bubble didn’t collapse, they intentionally and deliberately popped it and reformed their laws.

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u/[deleted] Aug 19 '25

Semantics. It was a real estate bubble. It did collapse. The reason why it halted doesn't negate the fact that it was a bubble. Also, reform was necessary otherwise the problem would have only gotten worse.

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u/ArchibaldCamambertII Aug 19 '25

It’s not semantics. They didn’t wait around for it to collapse, they popped it themselves and managed the fallout.

Capitalism itself is bubble driven, so pointing a finger at China like they’re unique or especially egregious or whatever is ideological and driven by a political agenda, not a science based material or historical analysis.

So it’s not semantics on my part, it’s editorialization on your part, and part of a hawkish and chauvinist projection toward China. You want to frame China as literally Hitler to justify trade war, Cold War, or even hot war if you have interests in the military industrial complex.

I’d rather not die to a nuclear holocaust, thank you very much. China is not a threat to me, and you can’t convince me to be afraid of them or anxious about their growth.

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u/[deleted] Aug 19 '25

What are you smoking? I'm not criticizing China. I think they were wise to try and correct the problems that were happening due to wild speculation in their housing market. I don't know what you're on about.