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New South China Mall: The Largest Mall in the World… World… world…

The New South China Mall, situated in Dongguan City, is considered to be the largest shopping mall in the world. According to an Emporis in 2012 it has 600,153 m2 of gross leasable area.

It boasts a hotel, an indoor/outdoor roller coaster which spans the complex, a canal with gondolas, and various replicas including the Arc de Triomphe, and Sphinx. It’s an impressive feat of design and engineering.

The only problem with the New South China Mall is that it’s almost completely empty and unused. The Emporis’ report also refers to it as a “dead mall” and, according to a CNN Japan report, the escalators are covered in tarps and the passages are dusty and lined with shutters.

So what went wrong?

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Japanese Government Hints at Issuing 50,000 Yen Bills, We Wonder What They’ll Look Like

A major flaw of Japanese currency is the 10,000 yen bill ceiling of banknotes.

For daily life, having a system of bills which max out at around 100 bucks US is not a problem. But for those special times when you want to buy something high-end like a computer or melons, your wallet suddenly swells to the size of a baseball.  In country that largely shuns checks or debit cards, cash is still king – a thick, hard to fit in your back pocket king.

Rumors are swirling about financial reforms in the works by Shinzo Abe’s recently elected Liberal Democratic Party involving, among other things, the issuing of 50,000 yen bills.　Yes, it looks like – for once – a politician is looking out for the needs of people with too much money.

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During an interview at his Kyoto headquarters this week, Nidec Corporation CEO Shigenobu Nagamori was quoted as saying, “Due to Japan’s strict labor laws, we cannot compete with enterprises in Korea and China.” He intends to lobby the government to relax labor regulations to allow for more flexible working conditions.

He additionally said that the government and the Bank of Japan need to weaken and maintain the yen to around a 90-100 yen to the dollar exchange rate in order for Japanese export companies to compete with booming exports from China and Korea. Read More

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