China may have just recently surpassed the United States as the world’s biggest manufacturing economy, but you’ll never believe this. In order to keep their economy revved up, they’re building entire cities which are empty! Ghost cities. You’ll find entire cities built to house 12 million people that are nearly empty. Huge apartment buildings, skyscrapers, shopping malls…all empty.
Their government keeps embarking on huge infrastructure projects in order to give people jobs, but they’re building stuff that doesn’t match demand. And what’s so ironic about is that you have people next door living in squalid conditions, nine people to a tiny apartment, yet these new apartments are priced way past anything they could ever afford. The apartment would cost $100,000+ yet they only earn $6000 a year.
This is the strangest thing I’ve seen in a while. I’ve heard of waste, but I’ve never seen waste like this. Oftentimes when I hear liberals talking about public works infrastructure projects to save the economy, I think of things like this. Economics is more complicated than just giving people jobs to dig ditches and build useless things.
Socially I’m liberal, but economically, I’ll largely a conservative. When Obama starts talking about building new high speed trains, and other public works projects, just remember this and take note of it. The United States has such a large and powerful economy, wasteful projects can be absorbed without much notice. But if you amplify those sorts of policies, this is the result. Massive waste.