CNN have been reporting that the “New South China Mall,” supposedly the or one of the world’s largest shopping malls, is now almost totally deserted.
The ever present concerns about the collapse of a vast property bubble in China have been raised, although as usual it is probably the presence of such nominal brands as “Teabucks” which will leave a more enduring impression…
you are wrong the people exploded
lol Teabucks, I’m sure there’s a good tea-bagging joke in somewhere in there.
There is something unsavory about modern chinese culture. Apparently they try too hard to put up appearances for the sake of pride or an unnatural desire to be a modern first world society. I think a departure from a less centralized system of one party rule would help them out a bunch.
It’s empty because it’s in the suburbs of a medium-sized (by chinese standards) city of no particular distinction. No one is going to travel to it just because it’s big if it’s selling the same stuff they can get in a mall near their home. It doesn’t have enough people with enough money near it, and it doesn’t have any easy way or any particular reason for those people to go there.
I work in the SECOND largest mall in the world, which is actually functional with very low vacancy. It also happens to be in Beijing, which you have probably heard of. It has been near a major subway line for years and just had a station open right next to it. It is in between a dozen universities and a district full of software companies.
The New South China Mall failed because of location, that simple.
The larger concern about their economic implosion is the fact that their government owes more to U.S. based corporations than the U.S. Government (which mostly owes money to it’s own citizens, roughly 8T, than to China 3-4T) which exceeds the 6T mark.
This with the fact that North Korea’s primary reason for acting out is their funding from big brother China has ended.
Did Masamune Shirow right about this in Appleseed?