Time has a fascinating article on Chinese gui gouwu zhongxin - “ghost” mega-malls. Developers are building increasingly enormous shopping centres, but filling them with designer shops out of the reach of the vast majority of the population. Banks, eager to loan money, show little restraint and few caps on lending. As a result, while 7 out of 10 of the world’s largest shopping centres will be in China by 2010, a Jones Lang LaSalle analyst estimates that 95% of the malls opened in the country by 2012 will fail.

The full article is in Time magazine, here.

Posted Saturday, August 11th, 2007 @ 3:59 am
Filed in business and productivity, china, community and social, politics

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