Shenzhen’s Economy in the Context of China’s Changing Growth Model
The adjustments being made in China’s economic growth model have national, regional, and local dimensions for the progress, specifics, and results of the adjustments made in the economic growth model to be followed and analyzed by the central government on the scale of the country’s economy in general and in particular regions. In this context, the experience of economic development of Shenzhen in recent years is of considerable interest. From 2011 to 2013, Shenzhen’s economy developed under constraints, the most painful of which were brought about by the worsening world market and growing labor costs in China. These circumstances forced the municipal authorities to start looking for hidden internal forces to drive the economy on. As a result, Shenzhen’s economic growth and the economic growth model implemented on the ground in the city between 2011 and 2013 look similar to the developments and trends recognizable across China and, in a way, are different. The author follows the significant developmental trends in manufacturing and services in Shenzhen over the last few years.