Save time by listening to our audio articles as you multitaskand its weight in the world economy is continuing to rise. The role of entrepots is especially important in the region, which hosts a baffling mix of political and legal systems. Plenty of economies are smothered by their regulatory regimes, and the region’s two emerging giants, China and India, have partial capital controls.
Now the options are shrinking. As China grows more authoritarian, the chances of Shanghai resuming its pre-1949 role as a global hub have receded. In a recent survey by the American Chamber of Commerce in Shanghai, only one American firm in the 133 that were surveyed planned to increase its investment in China. Even after this week’s announcement that China’s quarantine rules are being relaxed, memories of Shanghai’s draconian lockdown linger. Hong Kong is suffering, too.
Reflecting this, companies ranging from BlackRock, an American asset-management giant, to Sinovac, a Chinese pharmaceutical firm, are expanding in Singapore. Over 100 family offices have domiciled their wealth there this year, bringing more capital from the West, China and the rest of Asia to the city.
The Economist, of course, by definition doing propaganda for the system of rule by money. Authoritarianism on a global scale: The US and EU currently sanction 39 and 33 countries Those 39 nations = 1/3 of global pop.
Pre-1949, there was maybe 100 foreign offices in Shanghai, now it has more than 10000, and many of them are the biggest companies in their sector.
Abject nonsense. This is not journalism - it's the wishful thinking of capitalists.
Up,and down.
Is Singapore any less authoritarian than Shanghai ? What have you been smoking ?
why the The Economist just rename it as 'The politics', since is has nothing to do with economy.
And Chinas producer costs are going down, or at least not gonna spiral up and out of control like in the west, because China is now getting discounted Russian fuel. Russia has now replaced Saudi as China's top supplier.
Well, it's the same as with Russia. You want to abandon their gas, but apparently you will wreck your civilization if you do. China is the low cost manufacturing giant of the world, at a time when people need to down grade to a cheaper lifestyle. Good luck isolating China. lol
Sour grapes, go to hell
the economists is losing trust from the readers, as it's only faking stories to demonize China, any country, if the people are not satisfied they'll overthrown the gov, the PRC was born overthrown corrupted pro West KMT gov.
呵呵，没事吧你
With supply chains and lockdowns, it appears we are moving to a world with 3 shoeres of influence. 1, Asia, including Russia, India, Pakistan and Middle East. 2. Europe and Africa (hopefully not colonies again). 3. Americas, from Canada to Chile.