Over the past 12 months, at least eight American law firms have closed or announced plans to close their offices in Greater China. Firms including Sidley Austin, Weil Gotshal & Manges, Latham & Watkins, and others have cited various challenges as influencing their decision to exit the market.
Interestingly, over the past 18 months, no U.K. law firms have exited China or closed their offices on the mainland, raising questions about the relative risks seen by American versus British firms operating in China. For a deeper dive into this trend, you can access the full article here.