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Covid: Locked-down Shanghai residents barter for what money can’t buy - Best Business Review Site 2024

Covid: Locked-down Shanghai residents barter for what money can’t buy

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For many of Shanghai’s 25 million residents, the city’s strict Covid lockdown has made procuring food and daily necessities a struggle money can’t resolve.

Topics
Shanghai | China



Bloomberg 

For many of Shanghai’s 25 million residents, the city’s strict Covid lockdown has made procuring food and daily necessities a struggle money can’t resolve. They’re resorting instead to bartering, trading neighbours ice cream for vegetables or wine for cake. The availability of many goods in has been strained by clogged logistics into the city and the lack of couriers to deliver supplies to locals barred from leaving their homes. The city’s sweeping restrictions on movement, aimed at stymieing the spread of the highly infectious Omicron variant, are now entering their third week. With shortages widespread, bartering has become an important avenue for many locals. Kevin Lin, a 26-year-old barber, turned to trading with neighbours after he and his three roommates began running low on food. “I bought a whole lot of tissue paper before the lockdown. I would like to swap a few packs for food, ideally instant noodles,” Lin posted in a WeChat group chat with living in his apartment building on Saturday. Within five minutes, three different neighbours had responded, offering flavours of noodle ranging from braised beef to spicy Sichuan. Deals such as this are almost always struck over social media, primarily Tencent’s WeChat app.

Once agreed upon, one person will place their side of the trade outside their door to be picked up by the other person, who’ll leave behind what they’ve agreed to barter.

Among foods that have been especially sought after during the lockdown are fresh fruits and vegetables, which have been difficult to buy from online grocers due to supply disruptions and surging demand. Other goods in high demand include diapers and baby formula. Amanda Wu, a Shanghai-based investment manager with a 12-month-old baby, recently traded three cannisters of infant formula she’d purchased before the lockdown to a neighbour for vegetables and yogurt. “She asked if we need vegetables and yogurt as she just managed to grab a lot via some bulk purchases and online platform orders,” Wu said. “I was so excited to hear that after failing to grab any fresh food in the last two days.” She later sent another two cannisters of formula to another mom in exchange for cooking oil, rice and pork. One thing people will rarely accept for necessities, however, is cash. Indeed, many residents say they’d rather give goods to someone for free than take money, which is not very useful in their current circumstances. “Money itself has somehow fallen in value,” said Stefanie Ge, who owns a small content creation firm in and says she’s traded everything from ham and beer to fruit and desserts. “Good relationships and contacts on the other hand are more important than ever.” That was a sentiment shared by Sharon Cai, an accountant in her 40s living in Shanghai’s Pudong district. Cai said that bartering with other in her building — she recently traded homemade bread for carrots and garlic — had given her a sense of community. “Covid has brought so many ridiculous experiences,” she said, “but at least there’s been one happy thing. It’s made me feel like a neighbour.”

Tough covid curbs will bring victory: Xi President Xi Jinping has said that must stick to its strict “dynamic Covid clearance” policy while the global pandemic remains very serious, promising those enduring lockdowns that persistence will win out in the end. China’s zero-Covid policy has put millions of people into lockdown. “We must persist putting people above all, life above all … We must adhere to scientific precision, to dynamic zero-Covid,” Xi said during a visit to the southern island of Hainan on Wednesday. Reuters

China’s central bank vows to use policy tools, including RRR The People’s Bank of will use its policy toolbox flexibly as it aims to ensure sufficient liquidity in the economy, a senior central bank official said, adding hundreds of billions of yuan will be earmarked for two new structural lending programmes. Bloomberg

Truckers caught in Covid controls snarl supply chains China’s network of delivering everything from electronic parts to raw materials to the nation’s factories has nearly ground to a halt as Covid-19 restrictions leave hundreds of thousands of truck drivers caught in a web of quarantine controls. Bloomberg

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First Published: Thu, April 14 2022. 23:44 IST



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