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One red flag is the vast number of vacant homes spread through China,
by some estimates up to 64 million vacant homes.
1 of 23 2/7/2011 3:40 PM
And Now Presenting: Amazing Satellite Images Of The Ghost Cities Of China http://www.businessinsider.com/pictures-chinese-ghost-cities-2010-12?s...
There are no cars in the city, except for a few dozen parked at the glamorous government center
2 of 23 2/7/2011 3:40 PM
And Now Presenting: Amazing Satellite Images Of The Ghost Cities Of China http://www.businessinsider.com/pictures-chinese-ghost-cities-2010-12?s...
3 of 23 2/7/2011 3:40 PM
And Now Presenting: Amazing Satellite Images Of The Ghost Cities Of China http://www.businessinsider.com/pictures-chinese-ghost-cities-2010-12?s...
4 of 23 2/7/2011 3:40 PM
And Now Presenting: Amazing Satellite Images Of The Ghost Cities Of China http://www.businessinsider.com/pictures-chinese-ghost-cities-2010-12?s...
5 of 23 2/7/2011 3:40 PM
And Now Presenting: Amazing Satellite Images Of The Ghost Cities Of China http://www.businessinsider.com/pictures-chinese-ghost-cities-2010-12?s...
6 of 23 2/7/2011 3:40 PM
And Now Presenting: Amazing Satellite Images Of The Ghost Cities Of China http://www.businessinsider.com/pictures-chinese-ghost-cities-2010-12?s...
7 of 23 2/7/2011 3:40 PM
And Now Presenting: Amazing Satellite Images Of The Ghost Cities Of China http://www.businessinsider.com/pictures-chinese-ghost-cities-2010-12?s...
Here's a rendering of Zhengdong New District Wetland Park (people added with Photoshop)
8 of 23 2/7/2011 3:40 PM
And Now Presenting: Amazing Satellite Images Of The Ghost Cities Of China http://www.businessinsider.com/pictures-chinese-ghost-cities-2010-12?s...
Image: Panoramio
This city was built in the middle of a desert: Erenhot, Xilin Gol, Inner Mongolia
9 of 23 2/7/2011 3:40 PM
And Now Presenting: Amazing Satellite Images Of The Ghost Cities Of China http://www.businessinsider.com/pictures-chinese-ghost-cities-2010-12?s...
10 of 23 2/7/2011 3:40 PM
And Now Presenting: Amazing Satellite Images Of The Ghost Cities Of China http://www.businessinsider.com/pictures-chinese-ghost-cities-2010-12?s...
11 of 23 2/7/2011 3:40 PM
And Now Presenting: Amazing Satellite Images Of The Ghost Cities Of China http://www.businessinsider.com/pictures-chinese-ghost-cities-2010-12?s...
12 of 23 2/7/2011 3:40 PM
And Now Presenting: Amazing Satellite Images Of The Ghost Cities Of China http://www.businessinsider.com/pictures-chinese-ghost-cities-2010-12?s...
It's a giant new development, which doesn't even have a name yet.
13 of 23 2/7/2011 3:40 PM
And Now Presenting: Amazing Satellite Images Of The Ghost Cities Of China http://www.businessinsider.com/pictures-chinese-ghost-cities-2010-12?s...
No cars in the city except for approximately 100 clustered around the government headquarters
14 of 23 2/7/2011 3:40 PM
And Now Presenting: Amazing Satellite Images Of The Ghost Cities Of China http://www.businessinsider.com/pictures-chinese-ghost-cities-2010-12?s...
The ghost city of Dantu has been mostly empty for over a decade
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And Now Presenting: Amazing Satellite Images Of The Ghost Cities Of China http://www.businessinsider.com/pictures-chinese-ghost-cities-2010-12?s...
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And Now Presenting: Amazing Satellite Images Of The Ghost Cities Of China http://www.businessinsider.com/pictures-chinese-ghost-cities-2010-12?s...
The mostly empty city of Bayannao’er, which boasts a beautiful town hall and World
Bank-sponsored water reclamation building
17 of 23 2/7/2011 3:40 PM
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Now here's Kangbashi, a new city with capacity for 300,000 -- that houses 30,000
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And Now Presenting: Amazing Satellite Images Of The Ghost Cities Of China http://www.businessinsider.com/pictures-chinese-ghost-cities-2010-12?s...
Finally, here's a giant new campus for Yunnan University, which was built to accommodate 2.3
million students. It has 11,000 enrolled.
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And Now Presenting: Amazing Satellite Images Of The Ghost Cities Of China http://www.businessinsider.com/pictures-chinese-ghost-cities-2010-12?s...
Tags: Features, China, Real Estate, Bubbles | Get Alerts for these topics »
20 of 23 2/7/2011 3:40 PM
And Now Presenting: Amazing Satellite Images Of The Ghost Cities Of China http://www.businessinsider.com/pictures-chinese-ghost-cities-2010-12?s...
21 of 23 2/7/2011 3:40 PM
And Now Presenting: Amazing Satellite Images Of The Ghost Cities Of China http://www.businessinsider.com/pictures-chinese-ghost-cities-2010-12?s...
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But before that, China still has more than the entire population of the US from their own countryside to fill unskilled labor jobs and they'll take care of their
own first. There is a huge oversupply of unskilled labor everywhere. Even here in the US. It's our cost of doing business that makes us uncompetitive, not
a lack of available manpower. The days of needing mass immigration to build economies are over. The industries are just moving to where the cost of
doing business is cheapest, rather than the labor moving to where the industries are. It's cheaper to move buildings and middle management than
transport and re-house and assimilate millions or billions of individual workers. Corporate headquarters will end up in resort nations with good security
and schools.
The only exception are people whose education/skills/existing wealth put them way to the right of the bell curve in driving development. The
two-percenters who really are something special in the global marketplace.
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