An electrician came to the apartment, unlocked our wiring closet, and uncovered a jumble of dangerously inadequate wiring with several small smoking explosions in the switchbox. He hastily taped together a makeshift solution which he himself deemed “very dangerous!” and promised to return tomorrow with a safer one. We never saw him again.
The housing bubble is still ballooning in Shanghai in the form of condos and apartments where developments are constructed and then left to rot. At The Nervous Breakdown, Summer Block writes about watching her IKEA-showroom-worthy apartment dissolve into disrepair around her as caretakers left it behind for the shiny and new.
After years of patchwork jobs to fix systemic problems the real estate market crashed in the world's largest economy. Four years later we're still cleaning up the mess.
What do you think will happen when one of our key trading partners sees the next-biggest bubble blow?