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SEP 21, 2013 - Zero Hedge

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China's Ghost Cities... Are Multiplying

The fact that China has an unprecedented excess capacity glut, also known as an epic overinvestment/construction bubble, is by now well-known and acknowledged by even the most ardent Chinaphiles. Perhaps nowhere is China's outlier nature in this regard more obvious than in the following chart showing per capita cement consumption vs GDP. Yet nowhere is China's historic misallocation of capital (resulting from a pace of credit creation that makes even the most fervent Keynesian western central banker green with envy) more evident and tangible, than in videos showing the tumbleweeds floating ... Read More

Tags: China's Ghost Cities... Are Multiplying,  China Latest News