Legal marketplace

In 2024, major U.S. law firms rapidly reduced their presence in Greater China, signaling an uncertain future for foreign legal practices in the world’s second-largest economy. At least 11 prominent firms, including Skadden, Arps, Slate, Meagher & Flom and Paul, Weiss, Rifkind, Wharton & Garrison, either closed or announced plans to shutter offices in Shanghai,…