“First of all, there is a “fake prosperity” in many China’s cities. Typically, this is a result of over-exploitation of natural resources and blind capital investment. In some cities, borrowing money and selling land to property developers are the only effective ways to raise funds. But this is not sustainable…” the report added." Read the Hindustan Times article , from which the quote above, and below, is taken: “Ordos is the most extreme example of a Chinese housing bubble bursting, with unsold flats, unlet shops and empty office blocks. Most of the new buildings are empty or unfinished,” the report said. While China's government has finally realized that building and building and building can be a destructive act, when will the Nepali government come to the same conclusion? Turning on the nightly news in Nepal is like looking at a horse race amongst cement companies. Each is eager to give gift vouchers, assurances of patriotism, and now free cash. It appears th...
The civil wars of the twenty-first century: Sushma Joshi's slightly twisted perspective of the universe.