Posted: 15 Jun 2012 09:27 AM PDT
Some 45 minutes drive from Beijing to the Great Wall of China, standing the ruins of China's deserted fake Disneyland. Occupied around 100 acres of land, construction of 'the largest amusement park in Asia' stopped more than a decade ago. Funds were withdrawn due to disagreements over property prices with the local government and farmers. So what is left are the skeletal remains of a palace, a castle, and the steel beams of what could have been an indoor playground in the middle of a corn field.
All these structures of rusting steel and decaying cement, are another sad example of property development in China involving wasted money, wasted resources and the uprooting of farmers and their families. It is a reflection of the country's over growth property market which many analysts worried a massive increase in inflation and a speculative bubble that might burst, considering that property sales contribute to around 10 percent of China's growth.
+ yahoo finance
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