SHANGHAI -- The lockdown imposed on Shanghai has been lifted after two months, but there is little likelihood of economic activity returning to normal in the immediate future. Although the administration of Chinese President Xi Jinping is scrambling to deal with the aftermath of an approach that prioritized "zero-COVID" policies over economic stability, the repercussions likely will continue to be felt in the global raw material and product supply chains.
Shanghai's Bund riverside district was buzzing as residents savored the end of the lockdown on Wednesday morning. In contrast, a business district lined with high-rise buildings near central Shanghai's Nanjing Road remained largely deserted. It seems many companies there are delaying the return of their employees until Monday, after a weekend lengthened by a public holiday.
