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Thread: Learn on Shanghai In Depth

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[quote=COOLSPRINGS,290679]Numbers, especially those put out by the Chinese government, seldom tell the full or realistic story, but in the case of Shanghai, even when the unverifiable, usually inflated numbers are taken with mountains of salt, they still point to the obviously formidable if unbalanced role Shanghai plays in China's economy. While the city has just 1.5% of China's population, Shanghai accounts for 5% of China's Gross Domestic Product (GDP), 11% of its financial services, 12% of China's total industrial output, and 25% of the country's trade. Textiles, steel, manufacturing, shipbuilding, and increasingly the retail sector, dominate the city's economy, which reports double-digit growth year after year. At the same time, Shanghai accounts for around 10% of China's foreign investment, with firms from Volkswagen and Buick to Mary Kay, Amway, Hallmark, and Coca-Cola having invested billions in plants and personnel here. Not since colonial days (1846-1949), when Shanghai was dominated by Western companies, has the port produced such an array of international investments.

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