China's Mega-Cities

Newsweek International just did a story, entitled,"The New Megalopolis: Our focus on cities is wrong. Growth and innovation come from new urban corridors."  The story is how world economic growth should not be viewed as emanating from a country, but rather from what it calls the megalopolis:

China isn't the world's most ferocious new economic competitor�the exploding east-coast corridor, from Beijing to Shanghai, is. India as a whole is not developing high-tech industries and attracting jobs, but the booming mega-region stretching from Bangalore to Hyderabad is. Across the world, in fact, nations don't spur growth so much as dynamic regions�modern versions of the original "megalopolis," a term coined by the geographer Jean Gottman to identify the sprawling Boston-New York-Washington economic power corridor.

The New Megas are the real economic organizing units of the world, producing the bulk of its wealth, attracting a large share of its talent and generating the lion's share of innovation. They take shape as powerful complexes of multiple cities and suburbs, often stretching across national borders�forming a vast expanse of trade, transport, innovation and talent. Yet, though the rise of regions has been apparent for more than a decade, no one has collected systematic information on them�not the World Bank, not the IMF, not the United Nations, not the global consulting firms.

The article posits that "the global economy takes shape around perhaps 20 great Megas."  According to the article, my living in Seattle puts me in the Megalopolis of Cascadia.  Cascadia traverses two countries as it runs from Portland, Oregon, in the South to Vancouver, Canada, in the North.  Is this a good thing? 

The article sees China as having three of the world's twenty Megalopolises and these Megalopolises "define" China:

If Mega-regions power advanced economies, they literally define the emerging nations. China as an economic category is virtually meaningless. What matters are its major Megas: Shang-King (Shanghai to Nanjing), with more than 50 million people; Hong-Zen (Hong Kong to Shenzhen), 40 million; Greater Beijing, 36 million. These three Megas account for most of Chinese economic output, attract most of its talent and generate the great preponderance of its innovations.

I find this Megalopolis idea interesting, but I am not sure of its ramifications, if any.  Is pointing out the so-called Megalopolis just putting a name to something that has already occurred or will it eventually impact the migration of people and businesses?