Greetings, Comrades and welcome to this week's Yellow River Chronicles. This week we are RELEASING THE NERD from the YRC staff basement where he ticks and ties and plays furtively with his stapler. He's almost here now, scurrying up the stairs while carrying his laptop, a ten-key calculator and some pencils (.5 mm, we betcha).
We have Released the Nerd because we are going to discuss <cough> economics. As you all know, the economy of the People's Republic remains a subject of fascination and speculation for many as it continues to hurtle along at a compound rate of 10,043%* a year. As proof, please see the attached, highly technical chart for the more analytic of you. And, it looks REALLY cool.
China GDP and real GPD growth rate from year 1978 - 2009
In Inner Mongolia a new city stands largely empty. This city, Ordos, suggests that the great Chinese building boom, which did so much to fuel the country's astonishing economic growth, is over. Is a bubble about to burst?
There are only two or three of us in this immense townscape. Because this is Ordos, a place that has been called the largest ghost town in China.
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| By the way...it's cold in the basement... |
(*this is an...exaggeration)
China GDP and real GPD growth rate from year 1978 - 2009
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| Chart copyright STARMASS, whoever they may be. They sound like they work for somebody on the set of Dancing with the Large or something like that, don't they?? |
The most current projection by the YRC staff is that the Chinese economy will be larger than all the combined economies of the Universe by the end of the year. That is how fast it is growing, people. It's going to be huge! A veritable unstoppable juggernaut of economic growth!
What if You Built it and They Did Not Come?
But then, consider this really cool video from the City of Ordos, built in Inner Mongolia (the part of Mongolia that is part of China, not Mongolia, an independent state).
Watch: Gorgeous video of a Chinese ghost town turned into a skatepark
The video and notes below are from Shanghaiist.
Ordos is a city in Inner Mongolia, originally built for 1 million people it houses only a few thousand. Huge modern city with practically no foot traffic? It was just a matter of time before someone turned it into a skatepark.
We look forward to the sequel set in the impending ghost town of Lanzhou, for which developers are levelling 700 mountains.
Directed, filmed & edited by: Charles Lanceplaine
Additional filming: Patrik Wallner & Tommy Zhao
Music: You Me by Hamacide + Chacha
Sound mix: Gaetan Lourmiere
Logo: jmartdesign.com
Skaters: Jay Meador, Gustav Nymans, Tommy Zhao, Alexander Hwang, James Capps, Elliott Zelinskas & Brian Dolle
[Via: Business Insider]
"Kids are like, 'Let’s move there. It’s a skate paradise!'' director Charles Lanceplaine says about the reaction to his newest skate film, Ordos. "But there's nothing to do there. There are no restaurants or anything. There’s one night club. We tried to go but no one was there."
BBC has this to report:
In Inner Mongolia a new city stands largely empty. This city, Ordos, suggests that the great Chinese building boom, which did so much to fuel the country's astonishing economic growth, is over. Is a bubble about to burst?
A huge statue of the mighty warrior Genghis Khan presides over Genghis Khan Plaza in Ordos New Town. The square is vast, fading into the snowy mist on a recent Sunday morning.
Genghis Khan Plaza is flanked by huge and imposing buildings.
Two giant horses from the steppes rise on their hind legs in the centre of the Plaza, statues which dwarf the great Khan himself.
Only one element is missing from this vast ensemble - people.
There are only two or three of us in this immense townscape. Because this is Ordos, a place that has been called the largest ghost town in China.
Most of the new town buildings are empty or unfinished. The rampant apartment blocks are full of unsold flats.
If you want to find a place where China's huge housing bubble has already burst, then Ordos is the place to come.
(Here is the entire BBC story)
Well, A Fine How to Do This Is...
(Here is the entire BBC story)
Well, A Fine How to Do This Is...
According to Wikipedia, Ordos is not suffering economically.
Ordos is one of the richest regions of China. With a nominal per-capita GDP of US$14,500 in 2008, it is ranked ahead of the capital city of China, Beijing. It is extremely rich in natural resources, having one sixth of the coal reserve in China. The pillars of its economy are textile (wool), coal mining, petrochemicals, electricity generation and production of building materials.So there you have it! The vacancy conundrum, straight from the People's Republic and points economically challenging as we lead into next week's Yellow River Chronicles. A rapidly expanding economy, an empty town, and a red Swingline stapler. Check it all out at next week's Yellow River Chronicles!
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