Word: hub
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While there are thousands of airports across the U.S., more than 70% of commercial traffic is concentrated at the 28 largest facilities, where airlines are apt to employ their "hub-and-spoke" systems. That is where the vast majority of delays occur. Yet building a new runway is such a complex and costly process that adding just a strip of tarmac can take decades because of local opposition of many kinds--political, economic, environmental. Nobody really wants a jetport in the backyard. Seattle-Tacoma international airport got local approval for a new runway in 1993, but it still hasn...
...complete, he and six other staff members are all that are left of a former complement of 140 people. In Shanghai, by contrast, Coke's staff will have jumped to a 1 million-sq.-ft., seven-story building on the Huangpu River in the Pudong area, the commercial investment hub still in the throes of hothouse creation by the government. Says Lo: "If you want to crack the China market, you have to be in Shanghai...
...still ahead on points, but Shanghai is coming on strong and may be headed for a late-round KO. In fact, Shanghai, once the biggest financial center in all Asia, looks intent on regaining that title too. The fear in Hong Kong business clubs is that the former economic hub could become, in most China watchers' words, just another Chinese city...
TIME: Will Shanghai replace Hong Kong as a financial and trading hub...
...whom. Maybe Shanghai's economic growth will surpass that of Hong Kong. But that would not be a "replacement." When Frankfurt started to grow and became a financial center, it could not replace London--they have different traditions and markets. I think Hong Kong will be Asia's financial hub, but Shanghai will be the financial center of China. Its role will be to link China and the world...