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A happy, riotous, delicious torrent of food. but the government, as governments do, are tightening the screws. old is bad, new is good. not everybody thinks this is a good idea, though. bill wang was born in shanghai and studied here at the university. he began teaching english before he was out of college. he suggested we needed a wonton. and there might be wonton stalls all over shanghai, but bill says this one, this one, is the one. so you're an english teacher? >> yes. yes. >> most of the people i meet of chinese background who speak english, their teachers were british, sometimes australi...

This is a socialist country, supposedly. >> yeah. >> a communist country, supposedly. it is in fact, from all the evidence i've ever seen, the most dynamic capitalist country on earth. what do you think of that? >> i think a lot of my western friends come here thinking china is a posh version of north korea or the party controls everything. but they come here, they're surprised it's actually not that much. they do seem to be promoting the free market even more with the free trade boom, just establishing shanghai. so it's amazing. >> from what i see everywhere i go, the world is becoming more c...

To come to china and to shanghai in particular, but these babies, done right, these things alone are worth the trip. ground pork and shrimp, folded exactly and always 20 times inside freshly made, individually rolled out dough. as they're steamed, the delicious, delicious fat renders into a soup of the gods which then, if you're not careful, causes unforgettable maxillofacial damage as it changes your life forever. >> so good. >> in the china of the future, places like that, fushan jiao long, will be even more packed. by chinese, by ex-pats, by visitors looking for the deeply satisfying rush o...

>> nothing nothing. >> not for nothin'. >> enough for nothing. >> not -- all right. >> shanghai chef jackie shu prepares a meal of a style that will become more and more in demand among those who can afford it. and more and more people every day can afford it. >> what is it? >> so we have tomato and potato and that's it. >> australian wagyu beef, a massive, perfectly cooked tomahawk chop. coming in the door at up to $150,000 a pound. that includes bones and fat. this is about $1,000 worth of steak, bitches. even if tim wanted to serve good old usa beef, still the finest on earth in my opinion,...

In love with. walk down the street and look in any direction, and there's something to eat. i may not know what it is immediately, but chances are it's good. we talk about foodies, and what the hell does that mean? by current definition, best i understand it, that makes just about every chinese person i ever laid eyes on a foodie. which is to say a perfectly reasonable person who enjoys and pays attention to where the good stuff is. look at this. one street, and look, stuffed oysters, grilled over charcoal. snake treats? why, yes. and yes, it does taste kind of like chicken. there used to be a...