Published on: 2017-10-17
In order to improve economy of Xinjiang province, Chinese government required wealthiest provinces and cities to invest a part of their budgets in a “pairing assistance” programme. Beijing and Shanghai invested about $8.5 billion by the end of 2015 but economic gap between the province and the rest of China has only increased. Ambitious projects to improve economic conditions and build new “cities” have not shown positive results.
IEMS’ Jean Hong explained that these projects cannot satisfy local population’ needs in combination with fears that violence can hinder development.
Despite of all the difficulties, there still might be a chance for the province to prosper as it plays a big role in the One Belt One Road initiative.
Read full article Ghost cities haunt stability dream in China’s far west on SCMP.com
This story was also featured in Borneo Bulletin newspaper and is available here Ghost cities haunt stability dream in far west China as well as Ghost cities haunt stability dream in far west China on the Daily Mail.
[Bio] Ji Yeon Jean Hong
[IEMS Thought Leadership Brief] China Cannot Finance the Belt and Road Alone
Photo: AFPTags: china, Chinese investment, development, economic growth, investment, OBOR, One Belt One Road