hello-qingdao-byebye-shanghai

Hello Qingdao, bye-bye Shanghai?

As the news of China’s first half economic growth is pondered by local observers, a new debate has broken out. Ever since the reform of reform and opening up’ was launched in 1979, the engine of the Chinese economy has been the southeastern coastal regions, based on trade, and joint ventures producing and exporting light industrial that is, labour rather than capital intensive goods. The Chinese have dubbed this model extensive’ rather than intensive’, meaning that it’s flourished on plentiful and cheap inputs of low-cost labour, subsidized capital and cheap land.


But results shows that the coastal area performed surprisingly poorly in the first half of last year, to the extent it was outperformed in...

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