CREEPY: China’s Latest Ghost Town: A $50 Billion Fake Replica Of Manhattan.

“They are building stuff that nobody really wants or needs — and there will come a day of reckoning,” explained Gillem Tulloch, a Hong Kong-based analyst and managing director of GMT Research who has studied the growth of China’s “ghost cities” across the country. . . .

“Our leading economists in the West were lauding the Soviet-style system from the 1950s up until the 1980s,” he said. “They were all wrong. I think it’s the same with China.”