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Given these changing dynamics, Beijing is now focusing its internationalism on initiatives centered around infrastructure development and the exportation of clean energy technologies. This redirection signals a substantial pivot from the earlier vision for Shanghai as a globally influential financial hub.
Shanghai's Role in the New Paradigm
Despite the setbacks in its financial ambitions, Shanghai continues to play a vital role in China's new international strategy. The city is likely to remain a significant player in the broader context of infrastructure projects and sustainable technology ventures. However, the original dreams of establishing Shanghai as a preeminent financial center have, as of 2024, failed to materialize as initially expected.