China-India business sees ideological differences
Shanghai
INDIA'S democratically elected Prime Minister Narendra Modi viewed Shanghai's gleaming skyscrapers at the weekend in search of pointers for his economy, but China believes its one-party state is a key reason for its growth miracle.
China began moving away from its closed-off, Maoist command economy in 1978, recruiting market forces under Deng Xiaoping's "reform and opening up" banner to power its rise to the world's No 2 economy. State infrastructure investment and favourable treatment for foreign companies have made Shanghai the planet's largest port, a gateway to the world for Chinese goods. "Shanghai is indeed among the Chinese cities with the most advanced economies," Shanghai Vice-Mayor Zhou Bo proudly told Mr Modi.
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