Rocky Vega

In the video below, Bloomberg’s Paul Allen visits the New South China Mall in Dongguan, China, on the southeast coast of the country, roughly midway between Guangzhou and Hong Kong.

Once heralded as “the largest mall in the world, bustling with customers,” the mall is now overwhelmingly desolate, just “floor upon floor of emptiness.” This is even on a Saturday, and even with a fully-operational theme park. The best way to boost foot traffic? Expand another 200,000 square meters, according to the mall’s owners. They plan for the development to ultimately reach over one million square meters of residential and retail space.

It’s already been about six years since the nearly-vacant mall opened… things are bound to turn around any day now.

You can see more details in the clip below, which came to our attention via The Mess That Greenspan Made’s post on a vast (and empty) shopping mall in China.

Rocky Vega

Rocky Vega is publisher of Agora Financial International, where he advances the growth of Agora Financial publishing enterprises outside of the US. Previously, he was publisher of The Daily Reckoning, and founding publisher of both UrbanTurf and RFID Update -- which he ran from Brazil, Chile, and Puerto Rico -- as well as associate publisher of FierceFinance. Rocky has an honors MS from the Stockholm School of Economics and an honors BA from Harvard University, where he served on the board of directors for Let?s Go Publications, Harvard Student Agencies, and The Harvard Advocate.

  • http://www.chinafubar.com ChinaFubar

    Even the mall’s owners/managers are unfamiliar with the local market, asking Paul Alan to come on a Saturday. Anyone remotely familiar with shopping patterns in Dongguan knows Sunday is the busiest shopping day, as most factories and offices are working at least a half day on Saturday and Sunday is the major day off work.

    South China Mall is in the outskirts of town, too difficult to get to for most of the factory workers and local population. Even difficult to drive to until recently, as the roads aren’t very good from Dongguan center to the mall – very convoluted with a narrow 2 lane bridge that is quite frankly, not fun to drive on.

    There are other smaller malls and shopping streets closer to town, an easy bus ride or short walk for most Dongguan residents, and on a Sunday they are so crowded you can barely move. Still, even in the in town malls, there is a lot of empty retail space. Area I lived in Dongguan, within a 10 minute walk there are 4 good sized malls, each with anchors such as Trust Mart, Vangaurd, Carrefour, and ParknShop. Thing is, all the anchors except Vanguard are crazy busy on a slow day. Easily accessible by bus/walk to a lot of residents in the east end of Dongguan.

  • http://Annapolispoliticalscene.blogspot.com Craig

    It’s to be good to be true I can’t take my eyes off of you…

  • Pingback: Trackback

Recent Articles

5 Min. Forecast
How to Profit On the Back of an “Activist Investor”

Dave Gonigam

Since the invention of the "shareholder rights plan" (i.e. the "poison pill"), most companies are relatively immune to hostile takeovers. But according to Dave Gonigam that could all change thanks to one activist investor. And if you're savvy enough, you may just be able to follow his lead for big gains. Read on...


Extra!
Why Americans Shouldn’t Worry About Income Inequality

Jim Mosquera

As the markets have continued to rally over the last several years, more and more people have touted the problem of "income inequality" in the US. But as Jim Mosquera explains, this perceived problem will likely sort itself out with the arrival of one specific market event. Read on...


One ETF to Play Asymmetric Warfare

Addison Wiggin

Almost one year ago, substation telephone cables were maliciously cut in San Jose, CA. In 20 minutes, 17 transformers were knocked out. A year on, similar threats have cropped up. Today, Addison Wiggin explains why these threats are so serious for the safety of the global economy... and shows you one way to play it...


What Small-Caps are Saying About the Current “Bubble”

Greg Guenthner

The big problem with declaring bubbles is that it really does you no good. Unless you're attempting to measure and time market moves, you're also blowing hot air. But if you keep watch for negative divergences, you have a much better shot at figuring out big market moves than the latest bubble-busters. Greg Guenthner explains...


A Simple Strategy for Investing in the US Energy Boom

Byron King

Too often investments are made in a vacuum. But as Byron King demonstrates, the global economic crash... easy money... and technological advancements are all interdependent. In particular, that connection has changed the investment calculus in the resource market. Read on to learn how...


How Gold Will Respond to Declining Discovery

Henry Bonner

Oil isn't the only resource to experience "peaks." Due to a major contraction in gold exploration over the past few years, the mining sector is no longer mining gold at its replacement rate. In other words, the amount of gold above ground is running out. And according to Henry Bonner, it will get worse before it gets better...