Word: shenzhen
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...presumably they'll agitate for change as well. And that could destabilize a country bent on a quiet, stable rise. Yet there's room for a small-scale democratic experiment. China's economic miracle started with a small-scale economic experiment right across the border from Hong Kong, in Shenzhen. And if China hopes to bring democratic Taiwan back into the fold, it will have to prove it can truly sustain "one country, two systems." Hong Kong could be that trial...
...real growth engine will probably be its international business, which saw double-digit profit growth last year. Overseas, UPS networks include exclusive ground service throughout Europe. In Asia, it has acquired regional carriers, opened an air hub in Shanghai and broken ground on another in Shenzhen, China. "FedEx and DHL have dominated Asia so far," says David Ross, an analyst for Stifel Nicolaus. "But FedEx isn't as strong in Europe, and DHL doesn't do the U.S. UPS doesn't have those gaps...
...sleeper train in China's northwest Xinjiang province, I shared a cabin with two Pakistani traders who were returning home overland from a business trip to Hong Kong. One, in a Harley-Davidson cap, showed me two toy remote-control U.S. military helicopters he had bought in Shenzhen for his young sons. Beaming, he professed his love for America. But he also applauded the Taliban and al-Qaeda and how they "looked after" his Muslim brethren. It's just such a paradoxical pose, at once insular and international, Islamist and secular, that befuddles those outside Pakistan's porous borders...
...Surprisingly, it is provincial cities like Xi'an that are leading this transition. In China's heartland, you won't find many factories churning out cheap toys or clothing for overseas markets, the kind of industrial activity that underpinned China's economic miracle and made Shanghai and Shenzhen wealthy. Total international trade represents a mere 18% of Xi'an's GDP, compared with 160% in Shanghai. Xi'an is being built instead on the burgeoning spending power of its own consumers, and on the expansion of Chinese companies churning out products for Chinese. "The domestic market will be the leading...
...precipitously in China's coastal cities, Chinese companies based there are 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...