In China, Luxury Shopping Faces Ongoing Headwinds

This article is part of our special section on the DealBook Summit that included business and policy leaders from around the world. Toward the end of 2021, a glittering luxury shopping center called Taikoo Li Qiantan opened its doors in Shanghai. The 120,000-square-meter center (the equivalent to a stretch of 17 soccer pitches) is made up of nine buildings, landscaped gardens and stores from Western brands such as Balenciaga, Bulgari, Cartier, Gucci, Hermès and Tiffany & Company. The expectation for this colossal state-of-the-art mall in China’s commercial capital, owned by…

China Appears to Loosen Covid Rules After Protests

In the southern Chinese city of Guangzhou, residents returned to work on Thursday for the first time in weeks after Covid-19 lockdowns were lifted. In Chongqing, in the southwest, some residents were no longer required to take regular Covid tests. And in Beijing, a senior health official played down the severity of current Omicron variants, a rare move for the government. The developments suggest that the ruling Communist Party may be starting to back down on unpopular Covid restrictions in response to a wave of mass protests that have been…

Shanghai Declares Victory in Covid Outbreak, but Lockdowns Continue

Shanghai health officials said on Tuesday that the city had brought the Covid outbreak there under control, after a nearly two-month lockdown that disrupted residents’ access to food and medicine, stoked widespread public outrage and brought China’s financial center to a standstill. At a news conference, officials pledged to restart normal life as soon as possible, with a goal of reopening fully by June. Some businesses, bus lines and parks had been allowed to resume operations on Monday. Twelve trains were also allowed to leave from Shanghai’s Hongqiao train station…

Your Tuesday Briefing: A Marcos Victory?

Good morning. We’re covering the Philippines presidential election, the resignation of Sri Lanka’s prime minister and a pandemic pivot in Taiwan. Another Marcos for president? With more than 90 percent of election returns counted in a preliminary tally, Ferdinand Marcos Jr. appeared sure to win the country’s presidential election early Tuesday morning. He has a huge lead over Leni Robredo in the Philippines’ most consequential vote in recent history. Here are live updates. Marcos, the son of the former dictator who was ousted 36 years ago, appealed to a public…

Has Shanghai Been Xinjianged?

Shanghai and Xinjiang used to be the two sides of the China coin. Shanghai was the glamorous China, with skyscrapers, Art Deco apartments and a thriving middle class that shopped in Paris and strolled around Kyoto, Japan. Xinjiang was the dark China. The western frontier region, which is twice the size of Texas, is home to more than 10 million Muslim ethnic minorities who have been subject to mass detentions, religious repression and intrusive digital and physical surveillance. Since April, the 25 million residents of Shanghai have gotten a small…

Your Friday Briefing: China’s Stimulus Plan

Good morning. We’re covering China’s economic stimulus plan, President Biden’s push for war funds and extreme heat in India and Pakistan. China’s Covid stimulus plan As China’s lockdowns continue and new infections continue to spread in Beijing, the central government has laid out a wide-ranging economic stimulus plan to staunch expected losses. The government will subsidize businesses, pausing unemployment insurance payments if companies avoid mass layoffs, as well as electricity and internet charges. Young people graduating from college will be subsidized if they start their own businesses, since few jobs…

Your Thursday Briefing: Russia Cuts Gas Supplies

Good morning. A gas crisis looms over Europe, anger grows in Shanghai and Singapore executes an intellectually disabled man. Russia cuts gas supplies to Europe In its toughest response yet to European sanctions, Russia halted natural gas shipments to Bulgaria and Poland. The E.U.’s top official denounced the move as “blackmail,” but European officials said they were prepared to weather the near-term impact: Poland’s gas storage facilities are 75 percent full, and it has been working for years to avoid being held to ransom by Moscow over energy. Germany also…

Your Friday Briefing: Russia’s Growing Isolation

Good morning. We’re covering Russia’s departure from the U.N. human rights council, a political blow to Pakistan’s Imran Khan and Shanghai’s growing frustration with Covid restrictions. Diplomacy: Prospects for successful peace talks have dimmed: Russia’s foreign minister said Ukraine had proposed a new draft deal that deviated from previous versions, and President Aleksandr Lukashenko of Belarus demanded that his country be included in the negotiations. State of the war: Khan in jeopardy after court ruling Pakistan’s Supreme Court overturned Prime Minister Imran Khan’s move to dissolve Parliament on Thursday, setting…

Your Wednesday Briefing: Zelensky Addressed the U.N.

Good morning. We’re covering President Volodymyr Zelensky’s address to the U.N., a modification to Shanghai’s controversial family Covid policy and political tensions ahead of the French presidential election. Zelensky addresses the U.N. President Volodymyr Zelensky of Ukraine delivered a fiery speech to the U.N. Security Council on Tuesday, a day after visiting Bucha, where images have surfaced of civilian bodies in the wake of Russia’s retreat. Zelensky said that more than 300 people had been tortured and killed in the town north of Kyiv and that soldiers raped women in…

Wave of Omicron Infections Prompts Lockdowns in China

BEIJING — Several of China’s largest factory cities have ordered a lockdown, halting production of Toyota cars and Apple iPhones. Theaters, cinemas and many restaurants have closed in Shanghai. The northeastern province of Jilin on Monday banned its 24 million residents from leaving the province or traveling between cities. China is grappling with its largest surge of Covid-19 infections since the coronavirus first emerged more than two years ago in central China. Sustained outbreaks in two-thirds of the country’s provinces are proving the toughest test yet of China’s zero-tolerance coronavirus…