Chinese Urban Renewal

Watch these buildings being blown up. Overbuilding and corruption brought them down during the orgy of construction before COVID hit. These buildings were destroyed because they were deemed unsafe for habitation, due to corners that were cut during construction. China is littered now with ghost cities. Instead of “build it and they will come”, this looks more like “build it to keep people employed” for “social harmony”. Now the real estate boom is turned into a bust, with the government having to take over failed construction companies.

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