Residents moving into unfinished apartment blocks is rare in China, but not unheard of.
For the residents of Jinling Apartment, life in the building has been inconvenient, but tolerable. Many of them grew up in poverty, and are used to coping with poor living conditions.
“Tough? We’re all people who have experienced bitterness,” says Song. “This house is much better than the village house (I was renting before). I was afraid the village house was on the verge of collapse.”
Dispite our joking around here you have to remember that currently China is a capitalist country at the end of the day. They do capitalism better then the west, but they still have problems.
Well, that's not good. But given it's left internal CPC circulation and hit Sixth Tone that means that the Shanghai Faction of the National Government (which is broadly the left wing) has got tired of inaction at the Provincial and Local levels and it is about to Come Down There.
No of course not. But this is a state media public outlet discussing it. And a western-facing one at that.
The Jiang clique of officials certainly is, but I recall something about the Shanghai local cadres still retaining some Neo-Maoist tendencies left over from the Gang of Four days.
This seems to be a developer liquidity issue? Why did Chinese banks get them to delever but still complain they won't build the buildings they promised to make? Perhaps they should just get them the liquidity they need for now, and ask them to slowly delever in the future.
