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Analyst's note:  think you will find this interesting as well as informative.  Clearly we can not believe all that we hear from the "lame-stream media" regarding the well-being of the Chinese economy relative to our economy here in America. 

I have to wonder if there is a connection with a 28th September 2009 article entitled "Revealed: The ghost fleet of the recession" discussed here in 2009?  Now who do we know that manipulates the economies of countries just for fun as he calls for a new world order .... will we find George Soros behind all this? It is a game for power and gain, where gain begets power and power begets gain.

"[....] Here, on a sleepy stretch of shoreline at the far end of Asia, is surely the biggest and most secretive gathering of ships in maritime history. Their numbers are equivalent to the entire British and American navies combined; their tonnage is far greater. Container ships, bulk carriers, oil tankers - all should be steaming fully laden between China, Britain, Europe and the US, stocking camera shops, PC Worlds and Argos depots ahead of the retail pandemonium of 2009.

[....] As the shipping industry teeters on the brink of collapse, the activity at boatyards like Mokpo and Ulsan in South Korea all looks like a sick joke. But the workers in these bustling shipyards, who teem around giant tankers and mega-vessels the length of several football pitches and capable of carrying 10,000 or more containers each, have no choice; they are trapped in a cruel time warp.

There have hardly been any new orders. In 2011 the shipyards will simply run out of ships to build"

 

Using "stimulas money," we learn that vast cities are being built across China at a rate of about ten per year.  These same new cities remain almost uninhabited ghost towns. It's estimated as a result that China has approximately 64 million empty apartments

The "Stand Up America" site is noting the following:

"Has China acted on the chapter of the Obama playbook using Stimulus money to build infrastructure that is not essential to the growth of jobs and improving the economoic landscape? Building cities that have no people at a fast clip is beginning to sound lke some kind of FEMA emergency relocation center for what? America borrows and then borrows more form China, so with the bond and loan agreements, China is building fully functional cities that no one can afford to buy or has any interest. Here is a photo essay for you viewing pleasure."

From Business Insider we find:

China plans to build 20 cities a year for the next 20 years. The unacknowledged problem is finding buyers for those hundreds of millions of new homes.

Satellite Image of a Ghost City in China

Last year we published images of ghost cities based on a report from Forensic Asia Limited. This week we asked analyst Gillem Tulloch what has happened in the past six months.

“China built more of them,” Tulloch said. “China consumes more steel, iron ore and cement per capita than any industrial nation in history. It’s all going to railways that will never make money, roads that no one drives on and cities that no one lives in.”

“It’s like walking into a forest of skyscrapers, but they’re all empty,” he said of Chenggong.

Tulloch described a recent visit to a fishing village near Hong Kong, where new apartments are selling for up to $80,000. “People there were joking that no one in Denaya could afford to live there,” he said. If these apartments sell at all, it is to speculators.

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