MSN Series on China - Keeping Up With The Wangs

MSN has a series of articles on China and the growing Chinese middle class.  It is in their investing section, which is interesting in its own right in terms of how we tend to think of China.

The continuing growth of China and the scale of the growth is hard to comprehend.  My favorite part of the series is called "Four New Manhatten's a Year" - called that because China is basically adding 4 urban centers the size of Manhatten each year.  They describe the growth of Shenzhen, a rapidly growing city in southern China that was a small fishing village 20 years ago.  Key quote:

"So rapid has been its growth that virtually none of its 9 million official residents (or its estimated 8 million illegal and unregistered ones) were born here."

I visited Shenzhen in 1990.  My guess is at that time it had no more than 5000 residents and I only saw one car in town.  There were no signs of industry or commercial buildings of any size.  It was simply a sleepy fishing village.

Shortly after my visit it was named a special economic zone and targeted for growth by the Chinese government.  I returned in 1995 and there were over 1 million people living there.  There was a downtown area with large office buildings, new factories and warehouses in various stages of construction ringed the downtown and auto and truck traffic choked the streets.  Now it has over 15 million residents.  Simply amazing.

Everyone, including entreprenuers and small business owners, needs to be aware of what is going on in China (and India).  The size and growth of these markets is fundamentally changing global economics and greatly increasing the forces of globalization. 

Comments

[conception]

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