To keep the sales going, developers in the massively bloated Chinese housing market are getting more creative. This NY Times short documentary is fantastic and surreal. I’d chalk it up to simply bizarre, if there wasn’t such a desperate undertone to it.
It reminded me of “The Truman Show” movie where everything Jim Carrey’s character saw was fake, made for him. However in the Chinese version, everyone knows it’s fake but embraces it.
With the massive oversupply, no wonder savvy Chinese investors are extracting as much wealth as they can and investing overseas in anticipation of that day of reckoning.
Tags: China, The Opinion Pages, rent-a-foreigner industry, fake
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This is pretty incredible… To go along with the “fake” theme, Vice did a documentary on the subject of China’s corrupt and overbuilt real estate market, including the development of a Paris replica, which sits largely empty.
http://munchies.vice.com/articles/in-chinas-fake-paris-they-forgot-the-baguettes