This is Shanghai’s famed Laowai Street – meaning Foreigner Street. It is one of the biggest international cuisine streets. Its environment, decorations, and dishes rival any trendy hotspot, and it’s one of the most popular places for international visitors in Shanghai. Now that they have left and the Chinese can’t afford to spend money, it stands empty and quiet. Observers say that the street is now a shadow of its former self.
The Chinese economy has been in a slump, and with the continuous withdrawal of international investments, Shanghai, hasn’t seen the economic revival expected by the world since last year. Instead, the situation has worsened. Entering 2024, a new wave of store closures and shutdowns has begun. On February 19th, the old and established department store ‘Shanghai 600’ officially closed its doors after 71 years of business.
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Shanghainese Weep: Renowned 70-Year Mall Closes, No More Foreigners, Shanghai’s Bustling Era Fades
