I never ever ........... and i mean ever ......... have anything good to post about china ..........why !!!..............!its because they literally are a nation of repugnant ........servile ......... fucking pigs ........ who destroy everything they touch ..........even empty houses that could be used to house homeless people ........ but oh .......no....... demolish them kasswipes .........i hope the country goes broke.......... and they all suffer for being emptyheaded ........brainwasehd ....... stupid fuckers........
China tears down tower blocks in effort to boost stalling economy
China is tearing down tower blocks and pausing construction on buildings that could house 75m people as Xi Jinping’s government seeks to prop up the country’s stalling property market.
Analysts have warned Beijing has adopted a “build, pause, demolish, repeat” strategy as Chinese officials seek to restrict supply to avoid a plunge in house prices and boost economic activity through more construction.
Researchers at Fathom Consulting revealed that around 3bn square metres of housing has been put on pause or demolished in recent years, stopping properties reaching the market. It is enough to house 75m people, more than the entire population of the UK.
- ADVERTISEMENT -Indebted Chinese developers have been plunged into crisis as the struggling property market weighs heavily on the world’s second-largest economy. China has vast unoccupied “ghost cities” after huge amounts of debt-fuelled development while demolitions have increased as builders run out of money.
Joanna Davies, head of China economics at Fathom, said that houses on average take a “staggering” eight years to be completed as supply is “drip fed into the system”.
She said: “A key policy tool to manipulate supply is to order the mothballing of properties during the construction phase of a project.
“These practices enable the amount of new housing under construction to keep rising - which helps to prop up short-term economic growth and keep a lid on social unrest - without flooding the market and driving down property prices.”
Confidence in China’s property market has crumbled after a crisis at some of its indebted developers. Property giant Evergrande defaulted on its debt after borrowing aggressively with many Chinese homebuyers were left exposed by snapping up property before work even began.
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