When coal was discovered in the Northern Chinese city of Ordos 20 years ago, it underwent a massive boom that was expected to create a wealthy city of one million people, but now it’s home to a mere 20,000. Widely known as China’s Ghost City, it’s also a prime example of the real estate bubbles that threaten many parts of the country. There are entire streets of unfinished buildings, and even though the area’s GDP is higher than that of Beijing , many residents are trying desperately to escape. Read the rest of World’s Largest Ghost City Lies 98% Abandoned After Failed Real Estate Investments Permalink | Add to del.icio.us | digg Post tags: abandoned city in China , China’s Ghost City , China’s real estate boom , coal mining investment , Darmon Richter , Ordos Ghost Town , The Land of Many Palaces
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World’s Largest Ghost City Lies 98% Abandoned After Failed Real Estate Investments
