A Stimulating Idea From China

Dec 17, 2009 • Thinking Economically • 214 Views    No Comments

The place is Inner Mongolia. The city is Ordos. Actually, within 18 miles, there are two Ordos. One looks like a normal city. Built with stimulus money, the second Ordos looks complete except for one detail; there are no people. The apartments are empty, the offices, and the streets are empty.
The results? China’s GDP growth remains near 8%.

Is this like the New Deal

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