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Old 04-23-2015, 12:05 PM
 
1,011 posts, read 627,651 times
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Shanghai is not a financial hub?
It is the financial center in China, world No. 2 economy (or No. 1 economy in PPP)

Its stock exchange handles more transactions than any other city in the world except NYC.
It has more air passenger traffic than HK and Singapore combined.

Maybe it is not international enough. But being No. 1 in China by itself makes it more important than any other world city, except NYC and London

Do you know Tencent (a name unknown to people outside of china) has the same market value as Facebook?
Do you know Alibaba (only operates online shopping in China) has more market value than Amazon?



Quote:
Originally Posted by NOLA101 View Post
A financial hub has nothing to do with a city's relative development and wealth. LA doesn't have any financial clout, yet has more wealth than any city on earth except for NYC and Tokyo. Hong Kong is a huge financial hub yet the average person lives much worse than anywhere in the U.S.

And Shanghai isn't a major financial hub anyways. I can easily name 10-15 cities that are more important financial centers. In Asia alone, HK, Singapore and Tokyo are all more important.


No, you need to "deal with it". You are linking to a website you don't even understand. The Global City rankings has nothing to do with a city's relative wealth or importance. It's ranking cities by global interconnectivity.


I don't think this is true. In any case, Mexico City is richer than Shanghai. "Influential" is completely subjective, wealth isn't.
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Old 04-23-2015, 10:18 PM
 
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I think the one and only area that prevents Shanghai from being a truly global city is it's people that live there. You still have many uneducated wealthy people living in Shanghai, who are extremely ignorant and rather closed minded to the outside world. This however is changing with more and more people from Shanghai (esp the wealthy Zhejiang & Jiangsu People who live in SH) traveling overseas and sending their kids to school abroad. One other area is banking restrictions and money transactions are much more challenging then say Hong Kong or Singapore. Shanghai is a beautiful city and doing very well for itself, but it's just not quite there yet with the ranks of Tokyo, Hong Kong and Singapore, IMO.
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Old 04-24-2015, 01:25 AM
 
931 posts, read 613,474 times
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Do any of y'all even live in Shanghai or Tokyo? If you have lived in both cities you get to make an opinion. I currently live in Shanghai and it is basically a polluted, concret, materialistic mall as is New York, and L.A. The term surpass is relative, there are two sides to every coin, but based on economic output I think Shanghai might surpass Tokyo in the future.

Last edited by Oldhag1; 04-24-2015 at 03:17 AM.. Reason: Discuss the topic not other posters
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Old 04-24-2015, 03:13 AM
 
4,678 posts, read 3,609,147 times
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Quote:
Originally Posted by littlemissrock View Post

Do any of y'all even live in Shanghai or Tokyo? If you have lived in both cities you get to make an opinion. I currently live in Shanghai and it is basically a polluted, concret, materialistic mall as is New York, and L.A. The term surpass is relative, there are two sides to every coin, but based on economic output I think Shanghai might surpass Tokyo in the future.
Yes, this seems to be the case. I have three colleagues who just returned from a three months assignment to Shanghai and they were very impressed by how clean it is overall, but also dismayed by the hard "modern" nature of the city. They said it felt too "new". I guess you can never please everyone.

Last edited by Oldhag1; 04-24-2015 at 03:18 AM.. Reason: Edited quote
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Old 04-24-2015, 03:28 AM
 
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Quote:
Originally Posted by pennyone View Post
Yes, this seems to be the case. I have three colleagues who just returned from a three months assignment to Shanghai and they were very impressed by how clean it is overall, but also dismayed by the hard "modern" nature of the city. They said it felt too "new". I guess you can never please everyone.
The best part of Shanghai is its metro system, it is super modern and spans miles, you can criss cross the whole city with a dollar. Last time I went to New York the subway was a cesspool of urine,rats and grafitti.
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Old 04-24-2015, 07:58 AM
 
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Lived in Shanghai for 10 years......Tokyo visited many times but never lived there. I still think Tokyo is above and beyond Shanghai on many levels.
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Old 04-24-2015, 08:07 AM
 
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Quote:
Originally Posted by lokeung) View Post
Most people in HK probably do not agree.

Lack of space or expensive real estate are not important issues for some people. Many rich Asian people prefer living in high rises in built-up area than a large house in area with little shopping ,dining and entertainment. Chinese people are known to be noisy with many friends together than appreciating quiet. Life expectancies of Japanese, Singaporeans, and Hong Kongers are higher than most western developed countries. Stress is a issue with city dwellers around the world, and not found only in HK. Crime rates, discrimination or hate are much less on the Western side of the Pacific.

Most people in Northern Europe, Canada, Australia and NZ also do not agree their average person lives much worse than anywhere in the US.
HK has nothing to do with "Northern Europe, Canada, Australia and NZ". Those places are all very similar to the U.S. HK is totally different.

The average person in HK lives worse than the average person in the U.S., and all of these other places. On a relative basis, apartments are tiny, social benefits are modest, pollution is horrendous.

HK is, of course, very desirable, but that is for historical reasons, and because it is essentially a city-state of Chinese, with separate rules from mainland China. It's essentially more a Singapore-type city-state. And obviously it's vastly richer and more prosperous/desirable than mainland China, so people of Chinese descent will always want to live in HK, as long as China itself is relatively poor, and as long as HK is relatively "independent".
Quote:
Originally Posted by lokeung) View Post
Frankly speaking, Shanghai is a financial hub of the 21st century. It was the only prominent major hub of everything in Asia before World War 2, even Tokyo was not on the same level as Shanghai.
And this is based on absolutely nothing.

People don't want to live in Shanghai. If you have to do business with China, you can do it out of HK. Foreigners will never put up with Shanghai in large numbers as long as HK exists.

China, despite its massive economic growth and human development over the last 20 years (almost unprecedented in world history), is still very poor, with undeveloped rule of law, no democracy, massive corruption, horrific pollution, and an unknown future. Wealthy Chinese are all buying real estate for themselves and their children in NYC, London and the like. They question China's future and do not trust its institutions. I see people buying apartments in NYC for their 5-year-olds, just in case they go to college in the U.S., and so they have a place to live, as well as a refuge in case China ever experiences revolution or some type of political/economic unrest.
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Old 04-24-2015, 08:14 AM
 
1,011 posts, read 627,651 times
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why do foreigners matter so much?
many european cities are packed with "foreigners" and they make the city worse.
Look at NYC. It has the most foreigners than any other US cities and this makes it look like a third world city.
Shanghai is a chinese city and looking very chinese compared to HK does not make it any inferior.

Who said people do not want to live in Shanghai? based on foreigner's opinion? LOL. I would say more chinese are willing to live in SH than HK.

Quote:
Originally Posted by NOLA101 View Post

People don't want to live in Shanghai. If you have to do business with China, you can do it out of HK. Foreigners will never put up with Shanghai in large numbers as long as HK exists.

China, despite its massive economic growth and human development over the last 20 years (almost unprecedented in world history), is still very poor, with undeveloped rule of law, no democracy, massive corruption, horrific pollution, and an unknown future. Wealthy Chinese are all buying real estate for themselves and their children in NYC, London and the like. They question China's future and do not trust its institutions. I see people buying apartments in NYC for their 5-year-olds, just in case they go to college in the U.S., and so they have a place to live, as well as a refuge in case China ever experiences revolution or some type of political/economic unrest.
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Old 04-24-2015, 08:20 AM
 
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I lived in shanghai for 5 years and now live in NYC. Miss SH so much. In my opinion, NYC, the so called most global city, is way below Shanghai, in terms of cleanness, modernness, convenience, etc.

Quote:
Originally Posted by JakeinChina View Post
Lived in Shanghai for 10 years......Tokyo visited many times but never lived there. I still think Tokyo is above and beyond Shanghai on many levels.
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Old 04-24-2015, 08:30 AM
 
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Your 100% correct, Shanghai is above NYC (I'm from northern New Jersey) in transportation, modernness and convenience, however don't you like breathing in clean air? Do you really feel safe jumping in a taxi in Shanghai, they way people drive? Do you like living in a city where you will NEVER be part of the community and you will ALWAYS be considered an outsider (foreigner/Laowai)? Shanghai is a great city when you're young and having fun, but eventually you will get tired of it and want more.
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