Will Shanghai's free trade zone be a game changer?

Do you know what's the best way to launch a big bang project? Especially one that has not been tried before and is a game changer of sorts? Well, the best approach in a situation like this would be to undertake a small pilot testing. In other words, the idea is to launch on a small scale first so that any glitches are taken care of before the final, large scale roll out. And it looks like China has taken this advice really to heart. As per CNN, the dragon nation has launched a new free trade zone in Shanghai over the weekend. Although no details are out yet, the new zone is expected to make it easier to do business in a small part of China. In other words, it is an attempt to move from an economic model that has so defined China over the past two decades. After years of explosive growth, the current growth model of mass manufacturing is in grave danger of burning itself out. And therefore the Government is making a desperate attempt to wean away from it and replace it with a more liberalised, free market approach. While the policymakers' heart is in the right place, its success or failure will play a significant role in shaping China's coming decades we believe.