Here is a very interesting piece by the Telegraph's correspondent in Shanghai, Malcolm Moore, about the undignified exits that some foreign entrepreneurs are making from Shanghai. His evidenceis anecdotal, but that's how it is at the moment. This morning Ispoke to a taxi driver I have chatted with before. Just a couple of weeks ago he was still very gung-ho about the economy here – now not so much. No one dares to invest in anything he says. Everyone is watching and waiting. Tonight there are fireworks again for the Lantern Festival. Anecdotally – of course – sales of fireworks have dropped this year. They are, after all, the ultimate in discretionary spending.