China: “World’s Largest Mall Now A Ghost Town”
- Categories: International, News
- Date: Mar 16, 2013 12:54 JST
- Tags: Buildings, China, Copyright, Guangzhou, Image Gallery, Made in China, Shopping
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…
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I thought The United States was the world's largest shopping mall?
We heard you the first time, and no it wasn't funny.
No, it's the largest fast food restaurant.
Largest gun store actually :)
And the largest shooting range too...
And the largest people...
China had to out do MoA just for the bragging rights even though they built their mall in the middle of nowhere.
with all the money they're spending to build these unneeded outrageous builds and all, they could have used all that building material to build better bridges and housing.
Projects like this and all of the other "ghost" buildings are just to show that the country is producing and growing.
Der Glorious Leader Mao did the same thing back in the 50's when he set the peasants to work doing iron smelting. It didn't matter that what they actually produced was almost worthless low grade pig iron. The point was to show the world that China's steel production was on the rise. Unfortunately, since those same farmers were too busy making iron, they had no time for their fields which led to a massive famine and the death of millions.
"No problem," says Mao, "we'll just put up more propaganda posters showing bumper crops and smiling citizens. If you're starving, it's because you're lazy and not committed to the Communist cause."
The mall was privately funded. It's actually quite cheap, a small fraction of a typical med sized American mall, due to worthless property value, which is exactly why it failed - being located in the middle of nowhere. Genius.
It was completed almost a decade ago. It haven't been "deserted," as that implies it was occupied at one point. The place has always been empty since the day it opened. There's also no connection to any property bubble, the location is worthless at any given time.
Why pick it up now? Slow news day?
Wikipedia says 99% empty since 2005. The story is 8 years old!
China Fail is always funny. Aged China Fail is best fail.
Collapse of the property bubble.
Sankaku's just positioning to report the physical collapse of the property.
It didn't explode, that's the reason for its failure.
Something did explode: the economy.
Imploded, actually.
Yep it'll implode like the core of a massive star when it goes nova.
you mean GDP..?
Giant Dick People
or maybe gross domestic product
take your pick
An, the Chinese economic implosion... SanCom prophets have been predicting it for years. When will this happen? Can we expect it this decade?
It has to eventually like any boom but like any boom/bust the economy will move on.
isn't a majority of America's debt owed to China? I think we should be a bit concerned if they start wanting some of it back.
They don't get it back until it comes to term, which is, at this point, every goddamn day already. What you've got to worry about is that they stop lending the money that they get paid back, or that they start selling off bonds (in which case the US has a hard time selling its own new bonds).
12:12
LOL.
only around 9-10 % of the total federal debt of US is owed to china. 66% of the total government debt of US is owned by American public.
And you don't just 'ask' for it back. That's not how international bond contracts work.
Educate yourself.
u guys know nothing about economies
They build too many housing structures so as to add to GDP. It isn't wrong, but if nobody buys those flats they're going to have a massive problem.
I guess in the future, China will decentralize it's population to these new cities, though their methods are questionable. People need incentives to move, and better houses are not worth it if there is no accessibility to jobs and entertainment.
They know it's gonna happen soon. That's why there's nobody there.
So china is failing even with all of that money we pay to them?
Typical east asian crap. Big on the show, hollow and rotten on the inside (which they hope no one else would notice but get laughed at anyway).
Know the joke about chinese GDP?
"One day two rich university students from a top school made a bet. One of them said to the other - "I bet you 50 million dollars you won't eat this pile of horse shit". The other student eats it, and gets 50 million dollars. The one now with mouth full of shit says "I bet you back 50 million you won't eat it!" the first student eats it, gets his 50 million back. Now both are sitting like retards with mouths full of horse shit thinking "fuck we're dumbasses". Then an acclaimed chinese professor in economics walks by and says "Don't be foolish, my students! You have just done a very patriotic duty by increasing our national GDP by 100 million dollars!".
LOL
If you're american, someone in china said probably the same ;)
you pay for their government, not them. its a whole difference.
If you're American, they pay for your government. This is why you can't fight them, they own you now.
They can just release all bonds and dollar holdings all at once, trigger a cascade, and by tomorrow morning, the dollar will worth less than toilet paper.
Lol@ currency backed by "In god we trust."
yes then right after the US dollar is worth next to nothing the US economy grinds to a halt. Which in turn stops world markets and then everyone is screwed.
US Treasury bonds aren't callable. You have no idea what you're talking about. Besides, China holds maybe around 10% of our total public debt, that's it. Most of USA's outstanding debt is held by...Americans.
@ 6:46
USA! USA! USA!
05:43
LOL it's amusing that people still don't know how international bond market works and still spouts this uneducated crap like it's the truth.
Government and international bond market =/= personal finances between you and the bank
In fact, it's china that's been duped by the exact same mentality and is now realizing it fell into a trap of financing their enemy while holding a bunch of bonds they can't easily get rid of because of international bond agreements that bind them to a certain rules. If they break this rule, they will be ostrasized by the international market and their precious little economy is going back to 1960s.
It's probably empty because a: most Chinese are too poor to shop there and b: those that can afford to think it's a rip-off and shop at any place that's cheaper. Famous brands like Teabucks are over-priced!
Macau casino owners will tell you how poor the Chinese are.
It's empty because it's located in the middle of nowhere.
http://video.pbs.org/video/1218530801
Video of its failure in 2009 guess its still failing today. switch ot classic mode at the bottom if it wont play.
You couldn't pay me to ride that rollercoaster.
Risk of decapitation isn't the right kind of thrilling for me.
This could happen anywhere. It isn't any particular indicator (in this case anyway) of China's property bubble collapse. It's just a case of misplaced optimism and national pride. Examples like this has have happened in numerous countries that have had their taste of a boom economy.
Ghost town shopping mall? Nonsense this is the worlds largest post-apocalyptic setting paintball/airsoft arena fully equipped with the latest creepy abandoned shopkeeper!
Reminds me of Chernobyl.
Chernobyl was lively at one point. This empty mall was empty since the day it opened. Location location location...
Welp. At least now the illegal immigrants got somewhere to live in.
illegal immigrants? in china?! that's outrages! who'd immigrate to china in the first place?!
^ the most intellegent comment sankaku... since last week
kudoooss bro~
how about white people who want cheap hookers?
$20 for a threesome and free HIV
ok, I just lost it.
Looks like a job for Tim and Eric.
we saw an article here, around 2010, about stores closing in Japan. and we heard a lot of idiots saying it was because the photos of closed sops were taken during early hours or Golden week. what kind of crap are they going to say now? that it is
deserted because it is early in the morning too?