article_snippet.sent: Soon, a giant Egyptian sphinx and a replica of the Arc de Triomphe was classified by industry analysts as a "dead mall" and a giant Egyptian sphinx and a replica of the Arc de Triomphe became an unflattering symbol of China's runaway speculation on real estate projects.
article_snippet.sent: Economist Brian Jackson says the shift in focus towards restaurants and businesses that target China's middle, rather than, upper class, is a smart move on behalf of the developers.
article_snippet.sent: Many large malls (and residential construction) in China.... are all hoping to target one demographic -- the upper class," Economist Brian Jackson said.
article_snippet.sent: What is needed to succeed is retail space that caters to (the much larger) bulk of middle-class Chinese.
article_snippet.sent: China is also haunted by serious problems in China real-estate market, with over investment and large vacancy rates.
article_snippet.sent: Inside a Chinese ghost city .
highlights_snippet.sent: the New South China Mall was labeled a "ghost mall" -- symbol of China's runaway speculation on real estate .
  