Tap here to turn on desktop notifications to get the news sent straight to you. It follows that the GDP gap between China and other countries will further widen in the future. Instead inChina inaugurated a major international economic development program by financing infrastructure projects in the historical silk route countries.
The World Expo also reflects the rise of Shanghai as a global city and the intensity of competition among emerging Chinese mega-cities. At the eve of the World Expo, Shanghai was buzzing with anticipation and excitement. Presented by countries and 50 international organizations, the World Expo will continue for six months.
It will also be the largest world exhibition ever and is expected to attract 70 million visitors from home and abroad. With a population of over 20 million people, Shanghai is a hugely popular tourist destination renowned for its historical landmarks such as the Bund with its historical buildings lining the Huangpu River.
China Pavilion Preview Theme: Chinese Wisdom in Urban Development The main structure of the China Pavilion, "The Crown of the East," has a distinctive Shanghai and chinas economic rise essay, made of traditional dougong or brackets, which date back more than 2, years.
Inthe wealthiest metropolises, as measured by their estimated GDP, were still led by the great urban centers of the leading advanced economies.
By a third of these wealthy cities will be in the large emerging economies. In fact, Shanghai and the Yangtze River Delta already constitute one of the largest concentrations of adjacent metropolitan areas in the world.
However, unlike France, which is growing at the rate of percent inShanghai enjoyed a double-digit growth in and continues to grow at about percent per year.
The rapid development of the city began in the aftermath of the Opium War of when the Western powers forced China to open five of its coastal cities, including Shanghai, to foreign trade.
The colonial powers forced the weak Qing government to sign treaties granting them the right to establish foreign concessions.
In Shanghai, the part of the city proper west of the Huangpu River grew ever larger in size, whereas Pudong on the east side of the river was left untouched. Back infounder of the Republic of China, Dr. Sun Yat-sen put forward the idea of building a major harbor in East China with Pudong as its base.
By the s and the early s, Shanghai was a major center of international trade and finance in the East Asian region. As Shanghai fell into a historical oblivion, Hong Kong thrived. During the s and s, Shanghai was transformed into an industrial center.
After China embarked on its open-door policy in the early s, things began to change.
After decades of neglect,there rose a resurgence of trade and investment. In a whirlwind of two decades, Shanghai increased its role in finance, banking, and as a major destination for corporate headquarters.
Hong Kong has the advantage of a less opaque legal system, international market integration, broader economic freedom, greater banking and service expertise, lower taxes, and a fully-convertible currency. Shanghai has stronger links to both the Chinese interior and the central government, and an impressive base in manufacturing and technology.
Since the late s, Shanghai has been booming and thriving, while Hong Kong, despite its historical wealth and capabilities, has been haunted by anxiety and doubt over the future. Along with Tokyo and Singapore, it stands as one of the premier financial centers in Asia.
With the recent global financial crisis, Asian cities are closing in on London and New York as leading financial centers. Although still behind Hong Kong, Shanghai has been catching up. The financial strength of Hong Kong has been boosted by decades of globalization.
The rise of Singapore as a financial center has been also driven by determined government policies and multinational investment. In the long term, China will play a major role in the emerging global financial architecture.China’s meteoric rise over the past half century is one of the most striking examples of the impact of opening an economy up to global markets.
Over that period the country has undergone a shift from a largely agrarian society to an industrial powerhouse. Over the past three months, uncertainty over the course of Chinese development has intensified, with a steady flow of mostly bad economic news. The reality is that China is staring economic stagnation in the face, and the .
The Economic Rise of China Essay The Economic Rise of China The international system has always been one of anarchy and chaos, as there is no overarching government to rule. Due to the structure of the system being anarchic in nature the international stage is one of constant change.
From the eastern provinces such as Beijing and.
According to the Economic Observer reported, prices for new houses in Shanghai decreased by16 percent in a week to Yuan per square meter. And transactions for residential houses reduced by 27 percent from the previous week’ low.
China has two main multilateral forums, the Shanghai Cooperation Organisation and Forum for China-Africa Cooperation. Similarly India has three multilateral initiatives, the Indian Ocean Naval Symposium, India-Africa Forum and the Pan-Africa e-network. Feb 02, · China's Rise to Global Economic Superpower.
such as Shanghai to attract foreign investment -- and investment in human capital including all levels of education through college are among the.