Did China Waste Trillions on Its Urbanization Program?
Has China wasted trillions of dollars on its urbanization program? Some estimates show that the country’s big program to build new “cities” across its vast interior are not working out as planned.
Citing a recent study from the World Bank and other reports, the Epoch Times wrote that while “the overall population density in urban areas in China remained stable over the period… it is very unevenly distributed across the different urban centers.”
“What does this all mean? Yes, China has moved a large portion of its people to the cities, increasing their productivity, and keeping population density low at the same time.
By centrally planning the whole operation, rather than letting it happen naturally, however, China has wasted trillions in investment spending on infrastructure and houses on places where nobody wants to live. Proof of a bad investment.”