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Recently 60 Minutes ran a story about those giant empty cities in China which shocked a lot of people, but was about two years old for those that follow China closely. The odd thing about those cities is they aren't used as propaganda. You never see them on posters or news clips as signs of increasing prosperity. I guess they were part of stimulus spending, but still not sure why it sits idle. One thing that is hard to dispute is wealth is bubbling up in China, and there are people that could live in those empty cities.

The story recalls the...