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Monday, May 02, 2005

The New China -Progress In Just Under Ten Years

Tim Bajarin provides a first hand account about new china based on a visit to china after several years.In late eighties and early nineties, China was very different. Even as of 1996, Shenzen was almost devoid of personal cars and was ruled by people riding bicycles to get from place to place.
After a nine year absence China, could hardly be recognized from the one seen ten years back. The economic development and growth in Beijing is staggering

- In the space of 10 years, Shenzen has grown from a city of 70,000 to close to 7 million, with high rises, major roads and tens of thousands of cars.
- Beijing has freeways now that are nicer then some in the US, and it is needed to support the nearly 2 million cars already on the streets of Beijing..13% of family’s in Beijing own two cars. Five million passenger cars will be sold in China by the end of the decade up from 2.3 million currently.
- New apartment complexes and upgraded housing developments can be seen everywhere, including walled developments with lakes and golf courses for high level executives who need to live in Beijing. Movement restrictions have been by and large removed for visitors.
- Internet access is prevalent but some sites are blocked.
- Various high tech executives say that many of their engineers and senior management have salaries that while not on par with their US counterparts, are not that far behind in a country where prices are still relatively cheap for basic goods and services.
- The pace of change in China is so stunning, that nothing would be surprising about China anymore.
Progress in china's physical infrastructure is indeed amazing . China has done a great job in building massive infrastructure and in hiding poverty away from cities.

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