It has been almost two years since China announced the Shanghai Free-Trade Zone with much fanfare. With an area now 120 square kilometres, it was heralded as a comprehensive trade zone that would test a number of economic, legal, administrative and social reforms and investment policies. While Beijing has lauded the free-trade zone as a revolutionary step in the country’s development, reaction has been mixed. In a report last September, the Wall Street Journal said a number of foreign executives were finding the reforms “modest,” with one economist at ING saying that “caution prevails again”. ……
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