Description
Beijing and Shanghai comprise the axes of China's two leading urban regions. Their economic fortunes will affect the overall growth of China. The economic composition of the two megacities differs significantly and the future sources of competitive advantage also lie in different areas although there is some overlap. Shanghai with its diverse industrial base is the industrial powerhouse of China. Its strongest growth prospects still lie in activities associated with manufacturing industry buttressed by improvements in the technological and innovation capabilities of domestic firms and supported by the deepening of business services. In contrast, Beijing’s future prospects are more closely tied to research intensive activities and the services industry. This book explores the contrasting development options available to Beijing and Shanghai and proposes strategies for these cities based on their current and acquired capabilities, experience of other world cities, the emerging demand in the national market, and likely trends in global trade.
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This study surveys economic development in Beijing and Shanghai, and recommends strategies, based on the experiences of other global megacities, for each city to sustain economic growth in the medium term. The study begins by reviewing the role of urban regions in China's economic growth, then makes a case for continued investment in the manufacturing industry. It then examines the economic patterns of four global cities (Chicago, London, New York, and Tokyo) to find trends to inform development in Beijing and Shanghai. For Shanghai, the book argues for a strategy that puts more stress on manufacturing industries producing complex capital goods and high-tech components. For Beijing, the book proposes a strategy that focuses on the high-tech and creative industries, supporting business services, and activities that complement the functioning of government agencies. The study will be of interest to policy makers, urban planners, business people, and researchers. Yusuf and Nabeshima are affiliated with the World Bank Institute. Annotation ©2010 Book News, Inc., Portland, OR (booknews.com)
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