China builds more infrastructure white elephants
It is estimated that China has wasted around 42t yuan on "ineffective investment" in five years from 2009
Dachangshan Island, China
WHEN officials reopened the airport on the sparsely populated Dachangshan island off China's north-east coast after a US$6 million refurbishment in 2008, they planned to welcome 42,000 passengers in 2010 and another 78,000 in 2015. However, fewer than 4,000 passengers - or just a 10 a day - passed through its gates in 2013, data from China's civil aviation authority showed.
Since February last year, China has approved at least 1.8 trillion yuan (S$397 billion) in new infrastructure projects to counter a slowing economy. The approvals come just as the full costs of the underused airports, expressways and stadiums built during the last spending binge are beginning to emerge.
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