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Hi Larry,
I am really surprised how well Pepe Escobar hit the nail on the head..
(I dont know if you guys say it like this in the US, but we do)
Escobar seems to be fascinated by this buzzling town at the banks of the Yangzhe and he is right.
When I saw Pudong 10 years ago it was really a stip of farmland opposite the "old city" but today more than 3000 buildings are standing on it!
Unfortunately the weight of this lets Pudong sink faster than Venice, which the officials dont like to talk about.
I have many chinese colleagues who got their MBA from the US and after returning to Asia they can only think of working in Shanghai.
People here in Hong Kong are scared about the fast pace of how Shanghai is picking up.
People used to think of HK as the matured man who found his place in live and of Shanghai as the young learning boy.
Now they realise the young boy has grown up and is showing signs of becoming the new man in town town.
Personally I believe China has enough place for two trading and financial centres. But if you want to get the thrill you will have to live it up in Shanghai.
And yes, I also believe Shanghai will find its place in the row of international centres like London, Paris, New York.... not to forget Hong Kong.

Have to go back to work now.

rgds
Ganni
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