Dallian: China's 'Bangalore'?
By Michael W. Thompson, Cushman & Wakefield
China's emergence as an industrial power took many nations by surprise, throwing vast, established industries into disarray. Now China is engaged in moving up the value chain, working hard to emulate Bangalore's success. One city at the forefront is Dalian, one of China's primary IT-focus cities. With close proximity to major urban centers, an abundance of colleges and universities, and a moderate climate, Dalian mirrors many of the elements that enabled Bangalore to become India's Silicon Valley-home to more than 250 high-tech companies.
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Currying Favor Again with Foreign Investors
By B. Srinivas, Cushman & Wakefield
DURING THE LATE 1980s India relied increasingly on borrowing from foreign sources. This trend led to a balance of payments crisis in 1990, which began to infect every aspect of the Indian economy. GDP fell from 6.9% in 1989 to 4.9% the following year and down to 1.1% in 1991. That same year, inflation hit 17%. Pundits, forecasters, and economists all predicted doom for the Indian economy and its nearly one billion people. They were nearly right.
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