$10.2 Billion STUPID Mega Canal Under Construction, Is This the Straw That Broke the Camel’s Back?

Currently, the Chinese government is vigorously constructing a mega canal project. The total investment for this project is 72.7 billion RMB (10.2 billion USD), with excavation volume about 340 million cubic meters.
Amid a weak economy, rising unemployment rates, and a sharp decline in exports, China is experiencing a rapid withdrawal of international capital. Manufacturing giants such as Foxconn, Samsung and technology giants like Amazon are leaving China in succession. The decoupling between China and the developed economies is accelerating, gradually eroding China's status as the world's factory.
In this context, the Chinese government is investing substantial funds into the construction of water projects in an attempt to stimulate economic growth.
#chinaproduct #threegorgesdam #chinaeconomy #chinaobserver
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[rustyschackleford]

"How do we get out of this hole?"
"We'll dig ourselves out!"

[woodenman]

If you think spending 10 Billion for a canal is a waste of money then add 4 billion and build an air craft carrier !

[ngcmnh]

CPP always wants everything is super, but the quality is the question

[antanasv]

let's wait 5 more years to find how exactly it failed

[yuricopperhooves]

Aww man, can't wait to see what kind of an ecological disaster this will end. It guna be epic.

[blowemall]

The only way to improve this project…..is to build another one parallel to this by borrowing even more money.

[stevens]

The problem with all these projects is that they have to be maintained forever. I'm not sure if China is making a mistake or not. But this type of investment can't continue forever, with growth slowing.

[gilbertfranklin]

This video is one of the best summaries of China and its massive spending by the CCP. The most amazing thing is that very few of the Mega Projects will produce returns sufficient to recover the costs, let alone the debt. They are not stupid people, but they are caught up in a never-ending attempt to display the impressive stature of the results. When the money runs out, only then will they realize what a disaster the debt has created.

[gold]

How do you say white elephant in Chinese ? 🤣

[vinjulieann]

It's easier to control the people who's spirit you have broken.

[HanBoonLee-nf]

Very smart way to pocket more and larger sum of money.

[JohnS-ildr]

The California Bullet Train is 15 times the boondoggle that this project is.

[rogerdudra]

Greetings from the BIG SKY. When considering big projects to make, I think their eyes are bigger than their stomachs

[alangivre]

Pinglu waterway is necessary: chinese Southwest is almost landlocked. They need the flow into SE Asia.

[Veldtian]

Just another staggeringly hyperpowered boondoggle, they just keep on comin, thanx for shedding light on them so succinctly CO.

[johnl.]

Maybe this project is connected with China building dams that will siphon water from rivers that flow into India, Bangladesh, Vietnam…which is all currently flowing downstream from tall mountains (like Everest).

[julyseven]

I know people are jealous of China's success.

[Bitlox]

Recently I traveled to and from Beijing. The number of podunk stations with 10+ platforms on the route was amazing. these stations are practically unused.

[dkerai]

Like many things… it’s made in China… 😂

[yllare]

Here's my conjecture for this project: first half or more than half of the budget is lining several people's pockets thereby cutting costs on construction materials. With weak structures, the canal will show signs of wear damage along its length long before it's supposed to. Such shoddy workmanship will make industries that would otherwise use the canal think more than twice about doing so, and this is on top of the fact that the project is banking on the supposed "created demand" that the completed project is ASSUMED to generate. Such naive projections easily reminds me of the multiple ghost cities that were built across china but never got populated because people didn't want to live there. And this is all assuming the project will even reach completion what with the present economic and political condition of the country. It really is mind-boggling how they would even dare to make something this ridiculous given the country's present atmosphere.

Once again this is all conjecture based on what information was made available to me. On a personal note, this is a fukkin dumb AF move meant just for flexing hahahahaha. CCP is at the bottom of the barrel desperate to save face.