We can expect that policymakers will continue to have to periodically step back into the property market with successively tighter administrative controls, continuing to play Whack-a-Mole with China's burgeoning property bubble.
America was once thought of as the leader of the free world. Over the next 30 years, U.S. cities and states probably will be defined by what happens with the bottom two-thirds of citizens rather than the top one-third.
When the business day winds down at 6 pm in New York, we're just thinking about a 6 am breakfast in our rooms in Shanghai. When we're ready to turn in at 11 pm local time, the work day is in full swing on the East Coast.
Having lived and worked in different countries, I believe you can't truly understand a culture until you buy groceries there. It was this notion that served as the genesis for moving our entire Senior Leadership Team to China for a month.
There are two Chinas, one falling and one rising. At the Shanghai Zoo, both are on display. Pessimists will shake their heads at stultifying bureaucracy. Optimists are reassured by the unquantifiable, relentless energy of the people.