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...what has actually happened has fallen far short of that promise. In Mumbai, luxury hotels have certainly tightened up security, but at Victoria Terminus, the deadliest site of the attacks, the new metal detectors are almost comically inadequate. The flimsy contraptions are no match for millions of commuters, who swarm through and around them undeterred as they shake with the surge of the crowd. During this year's national elections, urban voter turnout remained well below that of the villages, and none of the reform-minded independents who ran for Parliament won more than 2% of the vote - including...
...highways, airports and other infrastructure across the western region. This has helped to kick-start growth. So has geography: Xi'an's lack of exposure to crashing global markets means it has barely been singed by the crisis. In fact, the city has benefited. It's received $230 million of Beijing's $585 billion stimulus package, which helped accelerate the construction of a new subway system, highways and other projects. A similar scenario has been playing out in other western China cities like Chengdu and Chongqing. BofA Merrill Lynch Global Research calculates that the GDP of China's western provinces...
...foot, even a city of 18 million people can feel like a village. I was reminded of this during the attacks on Mumbai a year ago, when the only way to get around was by walking. For three days, my world shrank to a tiny patch of the city's southern tip as I trudged through seemingly endless loops between the places where a handful of terrorists had holed themselves up before they were killed by commandos. The curving path from Nariman House back to my hotel is imprinted on my memory, along with the kindness of the stranger...
...China has powered through the global recession with only limited damage. Local officials expect Xi'an's gross domestic product to surge 13.5% in 2009, far faster than the central government's 8% target for the national economy. Even more importantly, the thriving economy in this city of 8 million lends hope that China might be able to complete its next great economic transformation. China has come to depend too much upon exports and investment for growth. What's needed is economic rebalancing, so that domestic consumption contributes more to expansion. This transition would help not only China - it would...
...investing in operations in less-developed Xi'an to capitalize on its lower costs and tap a cheaper labor market. About 70% of Xi'an's domestic investment comes from the southeast coast. For example, in late 2008 Shenzhen-based cell-phone maker ZTE announced it would invest $880 million in manufacturing and research facilities in Xi'an that will ultimately employ 26,000 people. Hybrid-car maker BYD, also headquartered in Shenzhen, has turned Xi'an into one of its main manufacturing centers, with almost all of the cars sold to Chinese consumers. Earlier this year, the company launched...