Since China has a ton of people making a ton of money these days, they're just spending it wildly. Like buying $2.5 million yachts that don't work. As the yacht was entering the water for the first time, it started sinking and eventually capsized.
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Source: http://feeds.gawker.com/~r/gizmodo/full/~3/dh_GaRZsF2k/watch-a-25-million-dollar-yacht-sink-on-her-maiden-voyage
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