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China Gov’t stimulus plan: $1 billion new city, no people

Nov 2009 John Keith

china_townSo, how’s that economy doing?

According to AlJazeera – English (I know, right?), the Chinese government has invested $585 billion (USD) into the country’s economy, hoping to stimulate demand (why it needs demand when it has an 8% growth in GDP is beyond me, but I’m not an economist).

The stimulus has definitely paid off, at least if you’re a construction worker. According to a YouTube video, the government has built a $1 billion new city – homes, businesses, etc. Only one thing missing – people.

Posted in Federal stimulus, Latest Boston real estate news Tags: , , ,
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One Response to “China Gov’t stimulus plan: $1 billion new city, no people”

  1. John Keith says:
    November 13, 2009 at 3:26 pm

    So, I didn’t actually hear them say it cost $1 billion because I was afraid to turn the sound up in this Starbucks. Let’s just assume it’s a lot of money.