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by josefresco
3882 days ago
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Aren't the "ghost cities" really investment properties for wealthier Chinese living in the cities? I seem to remember reading that there's a lack of diverse investment opportunities, so many invest in condos that they'll never use/inhabit. Maybe this is the precursor to the next step of "seeding"? |
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Right now, under the hukou system (https://en.wikipedia.org/wiki/Hukou_system), you can't just move anywhere you want. What ends up happening is those living in rural areas illegally move to cities like Beijing/Shanghai/Shenzhen for work, but can't get their children educated or get healthcare. This is a way to prevent mass migration to the first-tier cities.