Picture of the Day: Shanghai in 1990 and 2010

China's economy has grown at a rate of about 10 percent a year for the last two decades. Over those 20 years, Shanghai, the country's largest city, has experienced a remarkable transformation.

Check out this picture comparing the city in 1990 and 2010 (via Catherine Rampell):


Two years ago, the rumor (or statistic) was that one quarter of the world's cranes stood in Shanghai. When I first head the figure, I didn't believe it. Now that I see these pictures side by side, I don't find it so incredible.