Shanghai's historic old town has a network of ancient streets with scores of 16th-century residences, 19th-century guildhalls, Song-era wells, remains of Ming and Qing gardens, traces of Yuan-era temples, and all kinds of stone artefacts, as well as an established community going back several centuries. Why isn't it nominated?
Because revelopment is profitable, and preservation is not.
Image: Katya Knyazeva.
