TIANJIN — China is overbuilt. Badly. The future of iron ore has never looked so murky.
The ultimate embodiment of that overbuilding is China's 'Ghost Cities' — cities developed well in advance of future country residents moving to the city. Sounds good on paper, but the plans haven't all worked out.
For example, the vision above is of the Yujiapu Financial District, a replica of Manhattan built 40 kilometers outside of Tianjin, which is a city just east of Beijing.
But as you'll see in the following video, what we saw was a bit less glossy. More like unfinished with no end in sight.
Whether the city is ultimately finished and fills up is something of a moot point to Australian investors, though, because the overbuilding has already taken place. That's the disconcerting takeaway. Also, bring thicker clothes when you visit China in winter.
To find out more about Motley Fool Pro, and to ensure you receive a "priority invitation" to join Motley Fool Pro, including qualifying for a special "early bird" discount, please click here now. It's totally FREE to register your interest, and there is no obligation whatsoever.
Foolish Best,
Joe Magyer
Motley Fool Pro
About Motley Fool Pro
Run by me, Joe Magyer, Motley Fool Pro is our premium real-money portfolio service, designed specifically with investors like you in mind.
It's our most exciting and ambitious project yet… so much so that Motley Fool CEO Tom Gardner has committed to putting a total of $1 million of our company's own real money behind the ASX stock picks I personally make for the Motley Fool Pro portfolio.
To find out more about Motley Fool Pro, and to ensure you receive a "priority invitation" to join Motley Fool Pro, including qualifying for a special "early bird" discount, please click here now. It's totally FREE to register your interest, and there is no obligation whatsoever.