China Builds Desert Ghost City as Critics Warn of Bubble

May 16 (Bloomberg) -- Bloomberg's Adam Johnson reports on the construction boom in Kangbashi, a city in China's Inner Mongolia originally designed to accommodate around 1 million people that currently has about 30,000 residents. The desert city is part of the Chinese government's plan to add 36 million units of affordable or social housing in the next five years. Critics warn that "ghost cities" like Kangbashi are adding to the nation's real estate bubble. (Source: Bloomberg)