Beyond the Bike

Guilin, a premier tourist destination in Southern China has enjoyed double digit growth in the last 10 years. Chic residential tower block developments with exotic western names have sprouted up amongst the ancient limestone karst scenery, fuelled by cheap credit from China’s banks. We cycle into town on a drizzly mid-week May day along empty multi-lane highways. Cranes tower above nearly finished developments, with Starbucks and KFC advertising pathways to future obesity on the ground floor. But there is a eerie silence, exacerbated by the mist and spectacular scenery. The cranes are not working and many of the finished developments are empty….

Supply has exceeded demand in new residential development…