Shanghai, a New Bubble in the World

Which city is the hottest city in the world nowadays? Somebody will say New York, or somebody will say Tokyo; however, David Ignatius will tell you it should be Shanghai of China. According to the article “Come See the Shanghai Bubble” written by David Ignatius, “The world’s other bubbles may have deflated, what with Europe and America sagging again, Japan still flat on its back and an anti-dollar contagion spreading. But here(Shanghai) in China, these worries seem far, far away.” Although David thinks, “The Shanghai bubble will eventually burst, as all bubble do”, Shanghai is still very attractive for a lot of people. Overseas Chinese and foreign people from various countries are racing to join this “gold rush”. Nevertheless, there are some weaknesses in this city. The estimation by Economist two weeks ago showed us that 30 percent to 50 percent of Chinese loan might be insolvent; and even worse, it’s impossible to know. David considers that “The only way China can keep the bubble growing is to continue down the path of reform -- to make its economy more open, more transparent, better regulated, less corrupt.” I agree with David’s standpoint about Shanghai Bubble. In addition, I believe with a good starting, absorbing some useful

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Right now, Shanghai is still a virgin land that waiting for people to develop. The Shanghai native Jiang Zemin became the President of China. As this reason, Chinese people also can get more chances to get jobs. Although they could employ lower priced workers to make more money, they built many factories in the old Shanghai. Although Shanghai became one of the biggest cities by the helps of foreign companies, these companies also got many benefits from China. They have a lot of things to learn from the neighbor bubbles.

Shanghai is a city built by both western culture and Chinese government. In addition, they also brought some advanced technology and better education to this city. The government used a lot of money and paid a lot of attention on the development of Shanghai; with the support by both government and foreign companies, Shanghai have become one of the biggest international standard cities

Compare with some other bubbles in the Asia, Shanghai has her weakness and strength. One day, maybe this shanghai bubble will the Chinese “nominally communist political system” and bring the democracy and human rights to the new China. The government also can control the stock market: they made rules that any stock can’t go up or down by 10 percent in one day. Shanghai should learn the merits from the neighbor bubbles and develop her own advantage to try to perfect herself. The Shanghai’s future will be controlled by the new Chinese generation, and the China’s future will also belong to this generation. Now that China has joined the World Trade Organization (WTO), Shanghai should run business following the international rules. Along with China got opener, Shanghai grew faster and faster.

Approximate Word count = 1002
Approximate Pages = 4 (250 words per page double spaced)

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