Builders in Tianjin want to build the next Manhattan in Yujiapu, all at once. There are dozens of skyscrapers under construction. Then something went wrong, and construction has ground to a halt. It still may be finished someday, but it is more likely it will be abandoned.
"The way Zhang sees it, Yujiapu is more Detroit than Manhattan, and it hasn’t even been built yet. ... ten years from now, China’s property bubble will have burst, land will be worth around half of what it is now, and squatters will inhabit Yujiapu’s half-built skyscrapers, like something out of a "Mad Max" movie. This is going to be 'Apocolypse Then.' It’s sad.
http://www.marketplace.org/topics/world/chinas-hangover/china-replica-manhattan-loses-its-luster
See also:
http://thechinachronicle.com/chinas-manhattan-knock-off-aspires-to-be-bigger-and-better-than-the-real-thing/
To build Yujiapu, Tianjin officials are piling onto borrowing that is already at least almost half a trillion yuan"
http://www.bloomberg.com/news/2011-12-18/china-debts-dwarf-official-data-with-too-big-to-complete-alarms.html
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