U.S. Legal Industry Retreats from China
In 2024, many prominent U.S. law firms closed their offices in China due to geopolitical tensions, declining business activities, and increasing pressure on foreign entities.
- Who’s Affected: Firms like Milbank, Paul Weiss, and Skadden, Arps have shuttered operations in Beijing, Shanghai, and Hong Kong.
- Strategy: Some firms plan to concentrate on other Asian markets or continue supporting clients remotely.