China determines to make Shanghai an international financial center by 2020

[Shuimo]

That is the gist of the news today from this following link:
http://news.ifeng.com/mainland/200903/0325_17_1076929.shtml
中国决定2020年将上海建成国际金融中心 (http://news.ifeng.com/mainland/200903/0325_17_1076929.shtml)

[Shuimo]

English Version of the news is not available yet!

[budgie]

It's already an international financial centre, what are they talking about?

[a_very_ex_STAB]

If you report something twice the People's Republic gains twice in terms of glorification for the masses? :roll:

In other news tractor production has heroically exceeded all norms :roll:

[a_very_ex_STAB]

English Version of the news is not available yet!

We await it with breathless anticipation :roll:

[Ordie]

I guess they need to find a way to fill Pudong real estate vacancies.
I wonder what Hong Kong is thinking.

[matthew.manhorn]

I guess they need to find a way to fill Pudong real estate vacancies.
I wonder what Hong Kong is thinking.

Rest in peace Hong Kong :)

Hong Kong > Shanghai any day, you have freedom of speech, a lasseiz faire economic system, and cheap+tasty food. Shanghai is quite a modern+secular (yet) boring city in comparison with other Chinese cities, they have hotter chicks though!

[Shuimo]

Rest in peace Hong Kong :)

Hong Kong > Shanghai any day, you have freedom of speech, a lasseiz faire economic system, and cheap+tasty food. Shanghai is quite a modern+secular (yet) boring city in comparison with other Chinese cities, they have hotter chicks though!

Shanghai and Hong kong can be complimentary in serving China's interest!rofl

[Shuimo]

I guess they need to find a way to fill Pudong real estate vacancies.
I wonder what Hong Kong is thinking.

You can be 1000% sure that Hong Kong will be kept in an edgy mood. it always sees shanghai as the biggest threat to its monopoly of international financial center.:slap:

[Kit]

It's already an international financial centre, what are they talking about?

I wouldn't be surprised if the article said they're having plans about replacing New York as the center of financial exchange.

Pre-WWI, London was the center of the business world, but post-WWI made New York the center. With this financial crisis, the Chinese are getting cheeky, and having dreams of being the new center of the world.

[hskywalker]

Shanghai can try to be the international financial center. Beijing will remain financial center of mainland China.

[Ordie]

It is up to the individuals, marketplace and social demand to determine the primary role of a city, not government.

Keep in mind that Silicon Valley start-ups and mega companies such as google or yahoo were not funded by Wall Street, or in New York or within skyscrapers. But with venture capital located at an unassuming single floor office park on Sand Hill road in Palo Alto where deals are done over breakfast or at a taco truck.

Let Shanghai be Shanghai, not by some Beijing bureaucrat.

[Shuimo]

It is up to the individuals, marketplace and social demand to determine the primary role of a city, not government.

Keep in mind that Silicon Valley start-ups and mega companies such as google or yahoo were not funded by Wall Street, or in New York or within skyscrapers. But with venture capital located at an unassuming single floor office park on Sand Hill road in Palo Alto where deals are done over breakfast or at a taco truck.

Let Shanghai be Shanghai, not by some Beijing bureaucrat.
That sounds reasonable!
But again, remember the Chinese is masterfully capable of magic if they mean to do some business in earnest.
One aspect of the Chinese culture is to foreground the strength and role of collective forces, which can be put to astonishingly impressive use by people of the authotities.

I think the emergence of Shangahai as a key international financial center in the globe will take a different pattern in contrast to that of either London or New York, the latter being models in western social settings.roflroflrofl:-*$

[adaca]

Hongkong has always been a city on borrowed time...

Until China's financial and legal systems become better integrated with the rest of the world's, Hongkong remains to be the most attractive place to do business in China. However, it is only a matter of time.

Hongkong still possessed the largest pool of expertise in international business. When you hear Hongkongers speak Mandarin, you can't help but not take them seriously as "real" Chinese. Hongkong is inherently handicapped as the business center of China.

One upsmanship and face is of course a big deal in China. And a Hongkonger remarked to me once that whatever they have in Hongkong, the people in China, namely Shanghai, would copy that and make it bigger.

Beijing is really more of a political captical than a financial center, much as Washington, DC is compared to New York.

[Shuimo]

Hongkong has always been a city on borrowed time...

Until China's financial and legal systems become better integrated with the rest of the world's, Hongkong remains to be the most attractive place to do business in China. However, it is only a matter of time.

Hongkong still possessed the largest pool of expertise in international business. When you hear Hongkongers speak Mandarin, you can't help but not take them seriously as "real" Chinese. Hongkong is inherently handicapped as the business center of China.

One upsmanship and face is of course a big deal in China. And a Hongkonger remarked to me once that whatever they have in Hongkong, the people in China, namely Shanghai, would copy that and make it bigger.

Beijing is really more of a political captical than a financial center, much as Washington, DC is compared to New York.

I agree with your opinion of Hong Kong.
But your comparison of Beijing and Shanghai in relation to Wash. D.c and New York misses the mark by a long chalk!rofl

[Shuimo]

Hongkong is inherently handicapped as the business center of China.

This piont is the key to understand why Shanghai has to be the financial center of China.
Hong Kong has a different social system from the rest of China after all.

Anyway, I understand the hong kongers have very ambivalent feelings towards mainlanders

[Ordie]

I think the emergence of Shangahai as a key international financial center in the globe will take a different pattern in contrast to that of either London or New York, the latter being models in western social settings.roflroflrofl:-*$

The empires of the future is the empire of the minds. One does not need physical locations and settings to build a business empire anymore. Google is a good example.

One could easily create a start-up anywhere with little or no overhead and key functions outscourced everywhere.

If I were Chinese, why should I go to polluted Beijing, or expensive Shanghai, where I could set up an internet business in Kunmming where the quality of life is more relaxed, great weather, easy access to the beaches of Thailand with little or no pollution.

[Ordie]

Anyway, I understand the hong kongers have very ambivalent feelings towards mainlanders

I don't blame them.

[Shuimo]

The empires of the future is the empire of the minds. One does not need physical locations and settings to build a business empire anymore. Google is a good example.

One could easily create a start-up anywhere with little or no overhead and key functions outscourced everywhere.

If I were Chinese, why should I go to polluted Beijing, or expensive Shanghai, where I could set up an internet business in Kunmming where the quality of life is more relaxed, great weather, easy access to the beaches of Thailand with little or no pollution.

NO. You undereatimate the importance of central and clout cities.

Crowded or expensive as New York is is, top companies and talents still flock to the city for exchange of resources! :bash:

[Ordie]

NO. You undereatimate the importance of central and clout cities.

Crowded or expensive as New York is is, top companies and talents still flock to the city for exchange of resources! :bash:

Good point,


But New York is determined by New Yorkers and not centrally planned or governed by a Beijing bureaucrat.

[Shuimo]

Good point,


But New York is determined by New Yorkers and not centrally planned or governed by a Beijing bureaucrat.


I guess you didn't read my reply earlier carfully enough!rofl


remember the Chinese is masterfully capable of magic if they mean to do some business in earnest.
One aspect of the Chinese culture is to foreground the strength and role of collective forces, which can be put to astonishingly impressive use by people of the authotities.

I think the emergence of Shangahai as a key international financial center in the globe will take a different pattern in contrast to that of either London or New York, the latter being models in western social settings.

[Ordie]

I think the emergence of Shangahai as a key international financial center in the globe will take a different pattern in contrast to that of either London or New York, the latter being models in western social settings.

Let Shanghai be Shanghai.

It' people will determine its destiny, not Beijing.

[Shuimo]

Let Shanghai be Shanghai.

It' people will determine its destiny, not Beijing.

Kind reminder: Shanghai is in the Chinese soil, not American soil!

[damagejackal]

Let Shanghai be Shanghai.

It' people will determine its destiny, not Beijing.


Nahhh Chinese dont really understand the whole idea of "States rights" an "The state has the right to succeed"

[Ordie]

When a city becomes too organized and tightly controlled and artificially planned without regard to local concerns, it becomes too boring that even the rich people leave.

Just ask an overseas Singaporian

[MZKT]

China determines to make Shanghai an international financial center by 2020

Hmm, the city already is and a major one. Maybe they mean it will be among the 5 largest by 2020..

[ren0312]

The empires of the future is the empire of the minds. One does not need physical locations and settings to build a business empire anymore. Google is a good example.

One could easily create a start-up anywhere with little or no overhead and key functions outscourced everywhere.

If I were Chinese, why should I go to polluted Beijing, or expensive Shanghai, where I could set up an internet business in Kunmming where the quality of life is more relaxed, great weather, easy access to the beaches of Thailand with little or no pollution.

This reminds me of something Bill Gates said about that if the car industry was as innovative as Silicon Valley then cars would only cost 50 dollars, which sound goods, until you realize that if a car has the same reliability as Microsoft operating systems it would crash 10 times a day.

[ren0312]

The empires of the future is the empire of the minds. One does not need physical locations and settings to build a business empire anymore. Google is a good example.

One could easily create a start-up anywhere with little or no overhead and key functions outscourced everywhere.

If I were Chinese, why should I go to polluted Beijing, or expensive Shanghai, where I could set up an internet business in Kunmming where the quality of life is more relaxed, great weather, easy access to the beaches of Thailand with little or no pollution.

Remember that to construct the Enterprise-E you still need Spacedock.

[Ordie]

Remember that to construct the Enterprise-E you still need Spacedock.

I prefer to live in Deep Space 9 than in Shanghai.