Comments by "Winston Smith" (@kryts27) on "Unfinished Buildings Handed Over, Birth of Tofu-Dreg Projects | A Show Before the 20th Congress" video.

  1. I thought the Ponzi-scheme real estate industry in China has already collapsed. I think it's unsalvagable. It's much worse, per capita, than the US Prime Mortgage debacle during the 2008 GFC. Millions of these incompleted highrise apartment concrete shells will rot in the weather. Even well built highrise buildings (and these in China are mostly not well built), cannot withstand rusting of the concrete steel ties if exposed to weather for very long, due to incompletion of outside weatherproof cladding and glass in the windows. The rusting weakens the load bearing walls.
    70