China's recent re-emergence as a world power is one of the transformative events of our time, and the most visible manifestations of the country's continuing rise can be seen in its two greatest cities: Beijing and Shanghai.

Since its inception as a colonial enclave in 1842,Shanghai has been one of the world's largest, richest, and most important cities. Traditionally

it has set the pace of change in China, and acted as a model for the rest of the country, both as an icon of capitalism befor...