Assessing Asia's Brand New Cities
"Whether out of greed, desire for prestige, or sheer necessity, instant-city builders of all stripes seem to believe new cities should conform to Moore's law: faster, better, cheaper. Just as this mentality produced the high-speed rail crash that has shaken China's faith in progress to its core, it has also produced a municipal debt bubble running into the trillions of dollars. Will the effort to build the perfect city produce the perfect economic storm instead? Even Songdo, which is widely perceived as the most successful example, has struggled under the weight of its financial burdens."