CITIES & THE WEALTH OF NATIONS
Shenyang, China — With a population over 8 million, Shenyang is the largest city in Northeast China. Shenyang is an industrial center and serves as the transportation and commercial hub of China’s northeast – particularly with Japan, Russia, and Korea – with a good land and air transport network, abundant natural resources, and a skilled workforce. With a 150 year history as the center of heavy industry, Shenyang came to represent China’s painful transition from state-run industry to free market business. By 1990, the city had come to a virtual economic halt when its massive factories went bankrupt and left millions jobless. Massive, bleak housing blocks developed during communism’s peak still blot the reviving cityscape as today’s new development takes hold, funded by Shenyang’s diversification into modern and lighter industry. Investment subsidies are granted to multinational corporations that set up offices or headquarters in Shenyang.
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