SHANGHAI: Shanghai’s lengthy Covid-19 lockdown pushed a quarter of US firms in the city to cut investment plans and nearly all to drop revenue forecasts, a business group said Wednesday.
The downbeat findings of the American Chamber of Commerce (AmCham) Shanghai survey were the latest sign of the impact of virus controls in China — the only major economy still pursuing a zero-Covid strategy, using lockdowns and mass testing to eliminate all outbreaks.
But such measures left its biggest city Shanghai sealed off for around two months, with a shortage of truckers leaving goods piled up at its port and business closures battering firms.
Over 90 percent…
