Now what could this title possibly mean.
You will never be allowed to talk about how an artists sells 20%, 50%, even 90% less than expected when you hear this story.
The world's largest mall has become the world's largest flop. A mall in China which opened in 2005 which was supossed to be the world's largest mall with room for 1,500 stores. Here is the problem though. On this date today,
only 12 stores are occupied. That means
99.2% of stores are vacant. 99.2% less than expected is not even a number that Nicole Scherzinger could pull off.
Here is the story:
Quote:
"It seemed like such a good idea: China's economy is growing at a frantic pace, and people have more disposable income than ever. Why not build the world's largest mall in the Pearl River Delta -- China's wealthiest region -- generate a ton of hype, and make millions? "Build it and they will come," right?
Wrong. The seven-million square foot South China Mall is a flop of historical significance. Imagine combining New Coke, The Ford Edsel and O-Town's second album in a blender, and then building a mall out of it. The mall opened in 2005 with space for 1,500 stores and is currently home to around 12. That's a vacancy rate of 99.2%.
In a way, it's nice to see this thing flop: it turns that you actually can lose money overestimating peoples' appetite for conspicuous consumption -- at least in China. What's caused the mall's failure? A Bloomberg headline sums up one possibility: Many Savers, Few Spenders Leave South China Mall Almost Empty.
China has the highest savings rate of any country in the world (about 30% of household income) and people are electing to invest their expanding wealth rather than buy stupid stuff.
Meanwhile, our savings rate is negative, and people are struggling to come up with the money to fill up the Hummers they use to drive to work in cubicles. Something went badly wrong in the good old US of A, and our complaints about communism aside, we might do well to look to China to find out how to fix it."
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So apparently in the USA, we spend more money than we have. I guess that is why malls are successful here.
I guess it's an honor that they haven't forgotten about this gem :-/
... wow that flopped 
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