With an emphasis on the city's financial institutions, the trip featured visits and consulting projects with the People's Bank of China, the China Securities Regulatory Committee and the Shanghai Stock Exchange. In the heart of Shanghai, a 40-story glass and marble office tower is being constructed. Twenty feet away, a man sells live chickens from a small cage he skillfully balances on the handlebars of his rickety bicycle.
China is a paradox.
In one way, it is a wise old man, creator of the first eating utensils, the first form of paper, the first written language. In another way, it is a mere infant, naive and inexperienced, taking its first steps into the world of the market economy. The city of Shanghai epitomizes this paradox. The city is ancient yet its rapid growth is apparent everywhere. Our host from Price Waterhouse suggested we count the number of construction cranes visible from our hotel window.