Red Ponzi Gone Berserk – – China’s Planned New Cities Could Accommodate Half The World’s Population (3.4 billion)

New areas planned by China’s small cities could accommodate 3.4 billion people by 2030 – or almost half the world’s current population – a target that even Chinese state media calls problematic.
A report by the National Development & Reform Commission, China’s central planning agency, found that small- and medium-sized cities were planning more than 3,500 new areas that could accommodate more than twice the country’s current population of 1.4 billion. The entire world has a population of 7.4 billion, according to U. S. Census estimates.
The findings were detailed in an analysis by the official Xinhua News Agency, which criticized the planned new areas as unworkable: ‘Who’s going to live in them? That’s a problem,’ the piece said.

This post was published at David Stockmans Contra Corner by Bloomberg Business ‘ July 18, 2016.