Saturday, January 9, 2016

China Goes Full Keynesian, Builds 27 Story Building, Demolishes It

Who needs banknotes in bottles?
From China Daily:

118-meter-high Never-used Building in NW. China Demolished
Directional blasting demolition of a high-rise building is completed successfully at 7 a.m. on November 15, 2015 in Xi'an, in northwestern China's Shaanxi province. [Photo: Xinhua/Tao Ming]
The building was 118 meters high (27 floors) with a total construction area of over 37000 square meters.

Having been left unused for too long, the building could not be brought back into use so local government decided to demolish it.

It is reported to be the highest building that has ever been demolished in China.
HT: Mark Constantine


Frequent Bridge Collapses Help Boost China’s GDP

Czechs Going All Chinese (GDP-wise)
...But central bank Governor Miroslav Singer cautioned against confusing gross domestic product (GDP) growth with wealth.

"The repair of flood damage will probably result in an acceleration of the tempo of GDP," he predicted in a presentation last week, adding: "This variable measures economic activity, or the creation of new value each year; GDP does not measure wealth!"...