Best Place to See New China

It's hard to imagine where all those cigar-puffing foreign businessmen and cognac-sipping Chi-nese entrepreneurs spent their time before Three on the Bund opened last year. The renovated 1916 building on Shanghai's historic waterfront is a monument to the Chinese dream and the money flowing into the world's hottest market. Designed by American architect Michael Graves, it houses, inter alia, four of the city's top eateries, a spa with rivers of flowing Evian, and the city's flagship Armani store. At the velvet-swathed Jean Georges restaurant, tycoons hammer out transpacific deals over East-meets-West cuisine, while at the Shanghai Gallery of Art, trendsetters browse...

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