Now, state-owned China International Trust and Investment Corporation (CITIC) has built a town in Angola. And it's fairly empty.
Just outside Angola's capital city of Luanda is Nova Cidade de Kilamba a residential development of 750 eight-story apartment buildings, a dozen schools, and more than 100 retail units, reports the BBC's Louise Redvers.
The $3.5 billion development covers 12,355 acres and was built to house about 500,000 people, and this is one of "several satellite cities being constructed by Chinese firms around Angola," writes Redvers.
Business Insider speculated that the Chinese need to put their money somewhere, so developers have decided to build, as a place to store the wealth, even if the Chinese building these cities do not intend to live in them and there is no prospect they can find renters.
ScallyWagAndVagabond.com quoted Patrick Chovanec, a business teacher at Tsinghua University in Beijing, who explained, “Who wants to be the mayor who reports that he didn’t get 8 percent GDP growth this year? Nobody wants to come forward with that. So the incentives in the system are to build. And if that’s the easiest way to achieve growth, then you build.”
Buggered if I know. It's a waste of money if noone is buying or renting. They will crumble without maintenance...
Maybe China plans huge invasion of Africa? Who knows...
Originally posted by seabag
reply to post by zroth
Maybe they know something we dont know.
I’m not discounting your theory but what purpose would these cities serve if there was a pole shift?
Why would these be any different (or fare any better) than existing cities?
When they start building them here, I think then we got a concern..
I believe the idea of a way to store wealth for now. Until they start building them in America then something weird is up...
China have been buying up African land for a long time. Britain used to when they colonized over there for the purpose of mines. The mines dried up, Britain moved out and now China see it as a great asset as it is full of natural resources that have not been procured. I saw a documentary on it a while back, I forget what it was called though.
The claims were something along the line of China are going over to Africa, and in return for them building things like these cities, they are employing Africans in poorer regions.
As another poster said, it's a perfect way to claim the land for themselves.