THE BUND, SHANGHAI

The Bund is a famous waterfront and regarded as the symbol of Shanghai for hundreds of years. It is on the west bank of Huangpu River from the Waibaidu Bridge to Nanpu Bridge and winds 1500 meters (0.93 mile) in length. The most famous and attractive sight which is at the west side of the Bund are the 26 various buildings of different architectural styles including Gothic, Baroque, Romanesque, Classicism and the Renaissance. The 1,700-meters (1,859 yards) long flood-control wall, known as 'the lovers' wall', located on the side of Huangpu River from Huangpu Park to Xinkai River and once was the most romantic corner in Shanghai in the last century. After renovation, the monotone concrete buildings that lovers leaned against in the past have been improved into hollowed-out railings full of romantic atmosphere. Standing by the railings, visitors can have a 'snap-shot' view of the scenery of Pudong Area and Huangpu River.

History 

Before the 1840s, the Bund was a muddy narrow lane with tall reeds. It initially became a British settlement. After Shanghai was established as the trading port in 1846, a street was paved there and the riversides were reinforced. Then, rows of commercial buildings were constructed. As the UK Concession, a building boom at the end of 19th century and beginning of 20th century led to the Bund becoming a major financial hub of East Asia. It was the centre of the city's politics, economy and culture more than a hundred years ago, consulates of most countries and many banks, businesses and newspaper offices were settled there, and that's why we have these art-like buildings.

In the late 1970s and early 1980s, with the thawing of economic policy in the People's Republic of China, buildings on the Bund were gradually returned to their former uses. Government institutions were moved out in favor of financial institutions, while hotels resumed trading as such.

In the 1990s the Shanghai government attempted to promote an extended concept of the Bund to boost tourism and land values in nearby areas. From 2008, a major reconfiguration of traffic flow along the Bund was carried out. After a 33-month upgrade, the Bund was reopened to visitors on March 28, 2010. The veil on the new Bund was finally lifted.

After the reconstruction, most transit vehicles which originally got through the ground level roads began to make their way through the new underground tunnel. The original eleven driveways on the Bund ground were compressed into four two-way lanes. Thus more space was left for expending the four major squares: Huangpu Park, Chen Yi Square, the Bund Financial Square, and the Observatory Plaza. After being reconstructed, the new Bund waterfront is neat and atmospheric. The public activity space is expansive embracing more visitors.


IS CHINA AN EMERGING POWER, OR IS IT COMING BACK TO ITS OLD GLORY?

Many talk of China "rising." Chinese view their fortunes as a return to greatness from a "century of humiliation" -- and not a rise from nothing.  

Since taking over as the new leader of the Chinese Communist Party (CCP) in November, Xi Jinping has created a heated discussion in China and abroad over his use of the phrase, “Chinese Dream.” In his various public speeches, he has repeatedly emphasized that achieving the Chinese Dream of a "great rejuvenation of the Chinese nation" was his government’s main objective. While this has been applauded enthusiastically at home, people outside of China have struggled to ascertain the precise meaning of Xi’s statement. This is unfortunate because the Chinese Dream is essential for understanding how a “rising” China views itself and its role in the world. Failure to understand its meaning will thus heighten the chances for misunderstanding, with potentially devastating consequences for all parties involved.

Although outsiders almost always speak of China’s “rise,” the Chinese like to refer to their impressive recent achievements and future planned development as “rejuvenation” (fuxing). The use of that word underscores an important point: the Chinese view their fortunes as a return to greatness and not a rise from nothing. In fact, rejuvenation is deeply rooted in Chinese history and the national experience, especially with regards to the so-called “century of national humiliation” that began with the First Opium War (1839–1842) and lasted through the end of the Sino-Japanese War in 1945. China’s memory of this period as a time when it was attacked, bullied, and torn asunder by imperialists serves as the foundation for its modern identity and purpose.

Specifically, as proud citizens of the “Middle Kingdom” the Chinese feel a strong sense of chosenness and are extremely proud of their ancient and modern achievements. This pride is tempered, however, by the lasting trauma seared into the national conscious as a result of the country’s humiliating experiences at the hands of Western and Japanese imperialism. After suffering a humiliating decline in national strength and status, the Chinese people are unwavering in their commitment to return China to its natural state of glory, thereby achieving the Chinese Dream.

This goal is hardly unique to Xi Jinping. Indeed, the explicit goal of rejuvenation goes at least as far back as Sun Yet-sen, and has been invoked by almost every modern Chinese leader from Chiang Kai-Shek to Jiang Zemin and Hu Jintao. In this way, leaders have used national rejuvenation as a grand goal to mobilize the Chinese population to support the revolution or reforms they launched. In making these efforts, they have helped transform China into the modern and more powerful nation it is today. Far from weakening their resolve, however, China’s impressive new achievements have only strengthened its citizens’ commitment to achieving the Chinese Dream.

It bears noting that the Chinese Dream is in many ways the polar opposite of the more widely understood American Dream. Specifically, whereas the American Dream emphasizes individuals attaining personal enrichment and success, the Chinese Dream is a collective undertaking that calls upon Chinese citizens to make personal sacrifices in order to serve the greater, national good. If there is an appropriate parallel in the U.S. it would not be the American Dream but President John F. Kennedy’s appeal to the American people to “ask not what your country can do for you–ask what you can do for your country.”

Although the meaning of the Chinese Dream is practical and intuitively understood at home, it has the unfortunate consequence of remaining opaque to non-Chinese. Given that the Chinese Dream is deeply rooted in history— in particular on China’s interpretation of history which may differ in crucial ways from Japan or the United States’ own teachings of that history—there is an unavoidable chasm between how China perceives the Chinese Dream and how foreign audiences do. Not only do many non-Chinese lack a strong understanding of Chinese history, but many are not accustomed to drawing such a strong connection between historical events and current affairs.

This varying historical consciousness of different countries creates a perception gap. One need only look at the differences between how Chinese and Japanese students learn important historic events. For example, whereas Chinese students learn all the details about the Sino-Japanese War, Japanese history textbooks contain very little information on the war, so younger generations do not know much about that part of history. The Chinese youth are emotional in regard to the territorial dispute because they connect the current standoff with past humiliations, but the Japanese consider these completely separate issues. The Japanese indifference towards historical issues in turn further infuriates the Chinese.

These different historical memories have caused misperceptions between China and some of its neighbors over other sovereignty issues. For example, it seems inconceivable to the Philippines and Vietnam that China’s historical evidence of sovereignty over islands in the South China Sea should take precedent over modern international law. Consequently, these countries and others perceive China’s claims and efforts to defend them as inherently aggressive.

By contrast, the Chinese see their country as a status-quo power whose actions are inherently defensive. From this perspective, the Chinese are merely trying to protect their ancestral rights— as laid out in historical documents— from the encroachment of others. Far from seeking to gain an advantage over others, the Chinese are simply restoring the justice that was previously shattered by Western colonial powers. This is why many ordinary Chinese are outraged when they perceive their government as not being assertive enough in defending these rights.

Concurrently with pursuing the Chinese Dream, Xi has followed his predecessors in emphasizing the importance of continuing the policy of reform and opening up that Deng Xiaoping initiated two decades ago. Indeed, shortly after becoming the CCP's new leader, Xi gave a well-publicized speech in which he discussed the importance a nation must place on choosing the right path because a nation’s path is its “destiny.” Notably, Xi delivered this speech just before launching an extensive tour of Guangdong Province that mirrored the Southern Tour Deng had taken twenty years ago when his reform and opening up policies had stalled.

The timing of Xi’s speech on choosing the correct national path was a strong reaffirmation that Xi is committed to advancing Deng’s policies. This is undoubtedly the right choice; China has arguably benefited more than any other nation from the process of globalization, and embracing globalization has empowered China to the point where it can realistically aspire to fulfilling the Chinese Dream in a definitive time period.

However, in order to continue and deepen China’s reform and opening policy, Xi and his colleagues must break with their predecessors in finally acknowledging the inherent tension that exists between cultivating blind nationalism at home while embracing globalization abroad. They should be aware that patriotism can easily become nationalism, and an overly nationalistic foreign policy will antagonize China’s trading partners and undercut economic development.

The Chinese are pursuing the dream of rejuvenating the nation in the 21st century. In this process, however, China must not only modernize its financial system and infrastructure, such as railways, but also strengthen its political institutions and education system. Chinese elites should recognize that their dream of restoring China’s long lost glory should actually be geared toward a realistic, less nationalistic goal of nation building. At the same time, they should work on helping the outside world understand what exactly the Chinese Dream is. Only by doing this can the Chinese Dream be comprehended and blessed by China’s neighbors and the international community.

CHINA BECOMES WORLD'S BIGGER TRADING NATION

China's annual trade in goods passed the $4trn  mark for the first time in 2013, official data has revealed, confirming its position as the world's biggest trading nation.

Exports from the world's number two economy rose 7.9% to $2.21trn

Imports increased 7.3% to $1.95trn

The trade surplus stood at $259.75bn up 12.8% from 2012.

Total trade came to $4.16trn, an increase of 7.6%, just below the government's 8% target.

The total was a record high and effectively confirmed a historic geo-economic shift, making China the world's biggest trader of physical goods, not including services.

Further confirmation of the new status is expected to come when full US data for the year is released.

The European Union was China's biggest trading partner, GAC said, followed by the United States, the Association of Southeast Asian Nations (Asean), Hong Kong and Japan.

Between them, the traditional markets of the EU, US and Japan accounted for 33.5% of China's trade, down 1.7%, suggesting emerging markets' share of business was growing.

A MIRACLE AND A MENACE

For some, China is the business opportunity of a lifetime, but for others, the geostrategic and environmental threat of the century.

We live one of the most dramatic developments of our age: the rise of China from an inward-looking agricultural nation to an industrial behemoth that is scouring the planet for energy, food and minerals.

After 25 years of rapid development, China has established itself as the workshop of the world. Now it is moving towards a new phase - from mass producer to superconsumer - that could lead to one of the biggest redestributions of the planet's resources in history.

A global shopping expedition is already under way. Its buyers include the Chinese businesspeople who have started to prospect in the Sahara and Siberian tundra; the traders who are dictating world prices for commodities and shipping; and the diplomats and military attaches who have been sent on a geostrategic charm offensive.

As well as being the biggest business opportunity in decades, it poses an enormous risk for the global environment and balance of power. For many products, China has recently overtaken the US as the world's biggest consumer, and its appetite can only grow. While the living standards of the vast majority of the 1.3bn population still lag far behind those of developed countries, the government's priority is to create hundreds of millions more consumers.

Given the poverty in the countryside, where many families subsist on less than $1 a day, China has a long way to go to catch up with the west. But things change at a staggering speed.

It is a lesson being learned all over the country, but especially in Shenzhen. No other city than Shenzhen has benefited more from the embrace of globalisation. When Deng Xiaoping launched China's opening-up policy in 1978, Shenzhen was a fishing village. Today, it is a free-trade zone of skyscrapers, hangar-sized factories and malls. The population has surged to 12 million and with income levels twice the national average, municipal officials boast that their city is China's richest.

Checkout counter

This wealth has been generated by Shenzhen's role as a checkout counter for goods arriving and leaving the Pearl River Delta in the freighters and supertankers. The Yantian port, which was marshland 10 years ago, now handles more than 12m containers a year.

The story is the same along the east coast. Shanghai overtook Rotterdam as the biggest port in the world. In Tianjin the extensive docks are about to double in size as an iron ore terminal is built. So many goods come in and out of China that there are not enough vessels to carry them. Shipyards churn out hulls at a record rate, but cannot keep up.

Until recently, the story of China's economic miracle had an exclusively supply-side plot as farming villages transformed into low-cost manufacturing bases. But now its ability to make and sell has become increasingly dependent on its power to buy and consume. This is transforming relations with the outside world. Instead of just making cheap things for rich nations, China has started to become a rival buyer.

Foreign-owned factories, which make goods largely for export, are still the main source of demand. But domestic consumption is also becoming globally significant. Although average incomes are less than a 20th of those in Europe, the population is so much larger and prices so much cheaper that China has become the world's biggest market for TVs, mobile phones and just about every household appliance. Since 1978, electricity consumption has risen sevenfold and beer sales have risen 60-fold. Computer sales more than double every three years and the number of new car owners is increasing by 2 million a year.

Once self-sufficient in many primary products, China now gobbles up global resources. According to the Asian Development Bank, China takes 40% of the world's steel, 30% of its coal, and 25% of its aluminium and copper. It is now a major importer of grain, soya and even rice because so much farmland is given over to factories, malls and housing.

Energy demands

It has also started to snap up any energy resources, no matter the economic or political expense. Since the US, Europe and Japan have tied up the majority of the most accessible supplies, Beijing has had to shop where oil and gas are technologically or politically more difficult to extract, striking deals with unsavoury regimes in Iran and Sudan.

As with Japan in the late 1980s and early 90s, China's surge has led to frightened cries in the west, particularly in the US, of "the Asians are coming!"

In economic terms, such fears are at the very least premature. Average incomes passed $1,000 only last year and the US treasury believes they will not catch up with those in America for 38 years even if China sustains its current level of growth. That is highly doubtful. China faces many risks, notably a widening wealth gap and environmental destruction. Recent rural riots have raised the possibility of social implosion.

Chinese diplomats say overseas commentators exaggerate China's strength. "China has a huge population so, of course, after 10 years of development, our purchasing power has increased considerably and our people want a more comfortable life," said Wang Huijun, a deputy director of the Chinese foreign ministry. "But this does not represent a threat to other countries. We are still a poor developing nation with very basic needs: to eat and drink. Some rural areas are as deprived as the worst places in Africa. For many, a good lunch is one where they can have an egg rather than just corn. It will be impossible for China to reach the living standards of the US or Europe within 50 years."

But because China's population is more than four times bigger than that of the US, the shift in the balance of global spending power will come far sooner.

Increased Chinese consumption is the world economy's best news for decades. Just about every major manufacturer and retailer has moved to China in the expectation that its shoppers will drive global growth.

That is likely to be the more immediate threat of China's rapacious appetite. The past 25 years of economic growth have devastated China's environment; another 25 could do the same worldwide. The Earthwatch Institute says that if China's 1.3 billion people consumed at the same rate as Americans, global production of steel, paper and cars would have to double, oil output would need to rise by 20m barrels per day and miners would have to dig an extra 5bn tonnes of coal. If they followed the US appetite, China would chew its way through 80% of current meat production and two-thirds of last year's global grain harvest.

Lester Brown, the president of the institute, believes the squeeze on global resources will come far more quickly than policymakers are prepared