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The Star – Shanghai braces for long road to recovery as lockdown ends

2022 (Jan-June) In The News
SHANGHAI: Shanghai faces weeks, if not months, of slow recovery until economic activity can fully bounce back from the crippling Covid lockdown that began in March.

Based on the experiences of other Chinese cities like Wuhan in 2020 and Jilin earlier this year, it will take time for shops to reopen or factories to secure supplies and ramp up production. Labour shortages could emerge and the knock to business and consumer confidence will likely linger.

Even though the majority of Shanghai’s 25 million people are able to move freely in the city from yesterday and some shops are resuming, many factories and businesses are still closed or operating below capacity.

The world’s largest port in the city remains backed up and truck traffic is at about a quarter of pre-pandemic levels.

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