In 1980, China’s leader Deng Xiaoping created 4 locations around the Pacific Regional Delta in Southern China which became “special economic zones” – this has sparked development of “The Scale of China’s urbanisation is unprecedented throughout Human History” Says Li Keqiang, Chinese Premier .
The 11 cities created – Shenzhen (financial services and tech hub) , Dongguan ;precision engineering ) , Guangzhou (provincial capital) Foshan (manufacturing) , Hong Kong (trading) , Macau (entertainment) and Zhuhai, Zhongshan, Jiangmeb, Zhouqing and Huizhou have melded into one “megacity” of 43 million people!
This area is a place for employees to make money rather than settling down roots. Low cost labour in this boomtown is fast becoming history.
In an article in in the black – George Russell sites Chen and Jin in a McKinsey research report that China’s 415 dynamic smaller cities of between 100k – 500k people is where growth rates will be far greater –
This is where fortunes will be made .
Lower class will move to middle class ( and from my history in South Africa , a lesson learned is when there is a transformation from lower middle class – jump on the band wagon and go for the ride!)