Waning influence?

Fons Tuinstra posts a very interesting piece on how the influence of Shanghai and Guangzhou appear to be waning, no longer the only and obvious target for foreign investment activity, particularly in the industrial sector. I had been noticing this for some time in my own business activities with a distinct lessening of the pace with which my clients are engaging themselves with Shanghai. I hadn't noticed it with Guangdong although things there are at a different stage of development to Shanghai in the industries I cover and competition among the western companies remains less fierce at this point.

I had also noticed the Financial Times piece which he quotes on Shanghai. Some quite hard hitting stuff there:

Within China, however, Shanghai is quietly losing its lustre as its economic drivers run out of steam and new leaders in Beijing look askance on the privileges bestowed on the city by the previous administration.