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In Reply to: And still you don't get it! posted by E-Stat on May 3, 2024 at 08:44:32:
All Chinese cities seemed to have their "apartment farms", the bigger the city the taller the buildings. In many places the vacancy rate was very high.The real estate boom in China was driven by complex factors. One being the typical Chinese don't trust the Chinese stock markets, (with good reason), they are forbidden to buy foreign investments, hence turn to RE to invest their savings. Another is that local governments rely for funding on selling land to real estate developers. The developers, for their part, have assumed huge debt while over-supplying housing product; some such as Evergrande Group have failed or are likely to.
Note that the licensed EVs in the video you linked were bought and licensed by short-term car retail scheme that fail. Also mentioned there were bicycle-share enterprises that failed and it show vast heaps of abandoned bicycles.
You can't definitively blame the failed that car scheme on the fact that the cars were EVs.
BTW, when we were in Beijing on 2018 we saw plenty of by-the-hour rental bicycles; they seemed reasonable popular. Also BTW, extremely popular were battery-electric Vespa-style scooters -- these are a big menace to pedestrians because they are almost silent and driven fast and without much regard for traffic rules.
NOT the 51st state, eh!?!
Edits: 05/04/24
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Follow Ups
- Sure, I've saw some 'ghost cities' with my own eyes - Feanor 05:29:34 05/04/24 (2)
- RE: Sure, I've saw some 'ghost cities' with my own eyes - E-Stat 07:01:56 05/04/24 (1)
- Well China certainly has over produced real estate - Feanor 07:00:46 05/08/24 (0)
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