“Growth” meet “mal-investment boom-bust” In a perfect example of the smoke-and-mirror-ness of China’s credit-fueled expansion, a 27-storey high-rise building which was completed on November 15th 2015 was just demolished, “having been left unused for too long.”
The building was vacant too long at six weeks old!
Just like FDR destroyed crops, killed and destroyed hogs, and demolished buildings in an insane attempt to raise asset prices during the Great Depression.
As China People’s Daily reports,
Directional blasting demolition of a high-rise building was completed successfully in Xi’an, in northwestern China’s Shaanxi province.
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 local government decided to demolish it.
It is reported to be the highest building that has ever been demolished in China.
The silver-lining – now workers can clean up the mess, dig a bigger hole… and fill that in – all in the name of Keynesian “growth.”