The World was designed to house 100,000 people, an indoor ski dome, a replica of San Francisco's Golden Gate Bridge and a seven-star hotel. Its troubles echo those of another project that goes by the same name — the archipelago of island homes started in Dubai before the global financial crisis.
“星耀五洲”的设计意图是容纳10万居民,提供一个室内滑雪场、一座旧金山金门大桥(Golden Gate Bridge)的复制品,以及一家七星级酒店。该项目的困境与迪拜在全球金融危机爆发前开工的“世界岛”项目遭遇的麻烦如出一辙。
"It's definitely not an ideal time to be in the property business," said a receptionist in the showroom.
“现在肯定不是做房地产生意的理想时机,”展示中心的一名接待人员表示。
The property market is the single most important engine of economic growth in China, making its fate a global concern. Housing prices spiralled in the wake of the global financial crisis when the government launched a huge fiscal stimulus programme to boost the economy.
房地产市场是推动中国经济增长的最重要发动机,这使得该市场的兴衰成为一项全球关切。全球金融危机过后,中国房价一度扶摇直上,当时政府出台了一套巨额财政刺激计划,意在提振经济。
Beijing shifted gears in 2010, turning the screw on speculators to rein in house prices and reckless investment, which officials feared could put the economy at risk. Prices have finally started to fall, and the government wants to see them fall further. However, developers warn that what has been a mild correction could turn into a rout if Beijing does not let up.
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