Reddit mentions of Ghost Cities of China: The Story of Cities without People in the World's Most Populated Country (Asian Arguments)

There is no social security system per se in China anymore(they called it Social Welfare). Instead, people purchase multiple apartments in order to sell and make a profit for their retirement because of the housing boom over the last several years. The problem is that China is urbanizing on a massive scale and forcing rural citizens, many of them older, to move to these cities with no choice and little to no compensation for their old homes. It is common in China for the local government go into a village in the countryside, declare it eminent domain if you will, and force everyone to move to a city that might be hundreds of miles away. You have no choice in the matter because your village or town will be razed. The local government officials make huge kickbacks from the development companies who in turn build and sell the apartments and business space. Read Ghost Cities of China by Wade Shepard when you get a chance. It's a fascinating book that explains them in great detail.

>Fininvest checked the soundness of the buyers through contacts with Chinese financial institutions

Collusion, anyone?

>Though Chinese buyers looking to cater to the nation’s increasingly affluent consumers have won deals by offering top-dollar prices, they’ve struggled at times to secure the financing needed to close transactions.

This is an growing problem for the Chinese as a whole (great book on the topic...TL:DR - Chinese gov't attempting mass urbanization of rural population; resulting 'ghost cities' has left the Chinese saddled w/debt and loss of investors). Is this company basing their value off of projected wealth/earnings? Call me skeptical, but I don't see all of this spending sustainable. Anyone with more economic knowledge care to chime in?

Milan supporters have had a rough go in recent times..they deserve proper ownership&management in my eyes.