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Empty buildings in “China’s Manhattan” could mean trouble for growth in the country

by NYC RE feeds
April 14, 2019
Category:   RE News

“China’s Manhattan” is having a hard time attracting residents. In the country’s Yujiapu Financial District, about 80% of the office space is empty, and construction on multiple buildings has stopped, according to the New York Times. The vacant city could represent a breakdown of the growth model that has fueled China in recent years. The country has mainly focused on selling large amounts of land to developers and borrowing to subsidize construction, which has resulted […]

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