This book sets out to explain how Shanghai emerged from relative obscurity in 1842 to become one of the worlds best-known finance and industry hubs. As Chinas largest city, Shanghai today plays a central economic role, much as it did in the 1920s. The author provides a concise diachronic survey of the economic history of modern Shanghai, setting out how the citys urban infrastructure, municipal institutions, consumer culture and industry have shaped, and have been shaped by, this economic power house. The work is aimed at a broad readership of all who are interested in Asian history, and tackles a range of themes including: the citys millionaires, then and now; racial tensions and quotidian liaisons between Europeans and Asians before World War II; and the gambling and prostitution industry. The post-war era is portrayed in comparative discussions on Shanghai under Mao Zedong, and during the reform era. These discussions bring the narrative up to date to cover important events such as the designation of the Pudong precinct as the citys new engine of growth in 1991. The citys illustrious pre-war past is compared with its present ambitions to become Asias leading financial centre. The book employs insights from studies frameworks of new institutional economics as well as from the development trajectory of other world cities by way of better understanding Shanghais historic distinctness, its relative weaknesses and contemporary strengths.