Reliving Shanghai News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Leading to more concerns that interest rate increases are on the way. we'll have more on that in just a moment. property stocks, some of the hardest hit in shanghai. hong kong down as well. obviously very sensitive to what's going on in china, particularly as hong kong becomes more integrated with the mainland chinese economy. in sydney, financial resources stocks dragging the market lower as well. bhp gets a lot of its revenues these days from china. now, as we said, new figures show the world's biggest growing economy is still growing. let's take a look now at some of the numbers. we'll st...

Restaurant for lunch to a mic microbrewery in the evening, kelly is bringing a bit of american culture to shanghai and it's paying off big time. cheers. kelly lee now has six restaurants across the city employing nearly 200 staff. while some in the u.s. worry china is stealing their jobs for americans like kelly, shanghai is the new promised land. >> every year i keep saying to myself i'm going to go back to the states, every year that i'm here, i find there's more opportunities. ♪ >> reporter: these old jazz players have seen it all. as young men they played the sound track to shanghai's he...

Town, right? >> yes. >> reporter: shanghai is a melting pot of people and cultures. ignite a dazzling cityscape, great wealth and back streets. spencer dottington came here in 1995 and fell in love with it all. the accent is all texan. >> at night it becomes one of shanghai's red light districts. a lot of shady bars. >> reporter: but he can just as easily switch to local shanghai-nese. ten years ago he quit the high-flying world of finance to indulge his love of the city's buildings. >> this was purple and white marble inlaid dragons intertwined, adding good, positive fung-shei to the flat.

London and hong kong, this is "world business today." >> as china's president hu jintao plays statesman in washington, back home, his nation's most popular city is seeing renaissance with some help. many well-placed americans are leaving home and heading east to opportunities in shanghai. we hear from our senior international correspondent stan grant again. a look at the economic and social boom. >> reporter: inside this nightclub, you can imagine it's the 1930s again. andrew is riding the wave, bringing back burlesque, reliving shanghai's glory days right here into his club that used to be a ...

It's what creates the emotion. it's probably in these people -- they are somehow the guardians of the style. >> the series continues for the rest of this week. right now we'll have a final look at the markets this hour. there's one story in global markets this hour and that is concern that chinese interest rates are on the way up. it affects the whole global economy and that is one of the main factors driving all of those markets down here. and the ftse has been hovering around down 1%. really quite bad day for london traders. >> bad but let's put this relatively. take a look at what shanghai ...