[Wogef]

The article sort of misses the real issue- the demographic. The PRD is very young, well educated and highly ambitious. Tokyo has the education, but it otherwise increasingly stagnant.

New difficulties here in Shenzhen buying the required markers of Chinese status (cars and houses) mean young Chinese are increasingly interested in startups and entrepreneurship as an alternative signaling method.

[jpatokal]

Why is this getting downvoted? Tokyo's population is projected to peak in 2020 and then go into rapid decline (joining the rest of country, which is already shrinking fast). The PRD is set to keep growing for at least several decades, although eventually China will hit the same crunch.