Inside China's Failed $100 Billion GHOST CITY in Malaysia (Video - 29mn)

  You only need to watch the first 10mn to understand what's going on here.

  China Country Garden (famous for it's 2023 bankruptcy) invested in a huge project close to Singapore. Expensive apartments and villas to attract rich Chinese abroad. Two problems: The rich Chinese didn't want to go in the Middle of Nowhere and more importantly, the Chinese government in the end, recently restricted how much they could invest overseas to the equivalent of USD 50,000 which is a fraction of the cost of an apartment or a villa. 

 The project is therefore stopped. The prices are beyond the ability of Malay people to pay and without Chinese individual investors, the prospects are grim.

 I have never visited the place, but flying out of Singapore a few years ago you could see the huge earthwork on-going on what was mostly mangroves at the time. Out of the total 100 billion, it looks like about a third as already been invested. But without clients nor new funding, it is difficult to imagine what this city will become, knowing that in the harsh tropical environment of Malaysia, properties tend to degrade fast. 

 Another nail in the coffin of the current, giant world bubble? This project must concern mainly Chinese banks but also to some extent Malaysian banks. Still, at some stage, someone, somewhere will have to absorb the loss...