News Snapshot:
A two-phase lockdown of Shanghai’s 26 million people is testing the limits of China’s hard-line “zero-COVID” strategy, which is shaking markets far beyond the country’s borders. China’s largest city on Tuesday entered the second day of the lockdown’s first phase, which encompasses the Pudong financial district and adjacent areas on the east side of the Huangpu river that divides the center of finance, manufacturing and trade. With public transport suspended and bridges and tunnels connecting the two sides of the city closed, usually bustling city streets — including the fabled riverside Bund in Puxi with its century-old historic buildings —...
