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Guanghua Chia, Yu Liu, Haishan Wu. According to the researchers, these patterns indicate that Kangbashi fits the profile of a sparsely inhabited “ghost city,” while Rushan is better described as a tourist town. Of the 50 cities, they say 26 ended up looking like tourist sites, while 24 were ghost cities.
There is a much greater chance of the emergence of zombie towns and cities in China than of more ghost cities. What is a “zombie town”? It is a town where 50, 60, 70% of economic output and tax derives from one industry. And that industry is now entering decline. It could be coal mining, steel production, textile production.
China’s ghost towns and local-government debts are not harbingers of doom. They are bumps on the road to a developed economy, in which excesses will have to be resolved by the state or the market. In fact, overcoming these challenges will make for a more resilient economy in the long run. Published in collaboration with Project Syndicate.
Nov 24, 2015. Cities in East Asia are becoming more crowded, but in many of China’s urban centres population density is actually decreasing. The World Bank estimates that by 2030, a billion people will be living in Chinese cities and that China’s urban population grew by over 130 million people from 2000-2010.
Chinese cities are taking action to mitigate and adapt to sea-level rise. The Chinese were motivated in part by disaster. In 1998, the country’s worst floods in half a century killed more than 4,000 people when the Yangtze River Basin overflowed. And massive cities like Beijing, which has more than doubled its total land coverage in the last ...
What’s the secret of China’s growth? Dec 30, 2014. Many people are profoundly pessimistic about the Chinese economy’s growth prospects, owing to the emergence of massive debt, excessive investment, overcapacity, and so-called “ghost cities” since the 2008 global financial crisis. But these problems are not new.
The opportunity is significant: India’s financial sector is growing rapidly, and could generate 11 million jobs and contribute up to $400 billion to GDP by 2020, according to the group behind the project. The potential of Fintech. The plan is to build a Central Business District (CBD) between Ahmedabad and Gandhinagar in the west of the ...
Prior to the current downturn, residential development in China had boomed for several decades, leading to significant oversupply in certain markets and even ghost cities. The frenzy spurred developers to take on unsustainable amounts of debt and gave false confidence to homebuyers who poured their savings into home purchases up front thinking ...
Ghost airports that do pass muster can be redeveloped for many purposes, but some of the most impactful efforts fall into three categories. 1. The new urban megacluster. The Ellinikon is a former ghost airport that is now evolving into a whole new urban cluster.
Then there’s the dystopian ghost towns of China, where 130 million properties are vacant, which could house about 340 million people, surpassing the current U.S. population. The opposing trend is the ground-up construction of “smart city” utopias, such as Songdo City in South Korea and Masdar City in Abu Dhabi, among others.