NBC news reported this evening that, post-Olympics, Beijing now has 100 million feet² of vacant commercial/office/retail space. Apparently, the Chinese are just as dumb as Dallas (Victory Park) and Arlington (well, you know) in believing that building massive sports venues will be their economic salvation.
New hotels, shopping places, and sports facilities now sit idle.
To be fair, the global recession has a lot to do with this. But, even in prosperous times, it's yet to be demonstrated that building massive sports facilities, or handing over taxpayer money to sports mavens, results in any real benefits to those footing the bill.
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