Shanghai’s Lockdown Missteps Undermine Financial Hub Ambitions

Expats are ditching the city, jeopardizing efforts by local authorities to lure “high-end” foreign talent. “Until this latest crisis, Shanghai had established a good reputation as an attractive place to do business relative to other places in China,” says Eric Zheng, president of the American Chamber of Commerce in Shanghai. “This is obviously a huge test for the Shanghai government: How to rebound back to its old self?”