China Goes Full Keynesian-tard: Demolishes Never-Used Just-Built Skyscraper
Submitted by Tyler Durden on 01/09/2016 16:45 -0500
"Growth" meet "mal-investment boom-bust" In a perfect example of the smoke-and-mirror-ness of China's credit-fueled expansion, a 27-storey high-rise building which was completed on November 15th 2015 was just demolished, "having been left unused for too long."
Directional blasting demolition of a high-rise building was completed successfully at 7 a.m. on November 15, 2015in Xi'an, in northwestern China's Shaanxi province.The building was 118 meters high (27 floors) with a total construction area of over 37000 square meters.Having been left unused for too long, the building could not be brought back into use so local government decided to demolish it.It is reported to be the highest building that has ever been demolished in China.
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The silver-lining - now workers can clean up the mess, dig a bigger hole... and fill that in - all in the name of Keynesian "growth."