In some ways, the success of “Covid Zero” locations is becoming a straitjacket. As cities like New York and London return to in-person dealmaking and business as usual -- tolerating hundreds of daily cases as vaccination gathers pace -- financial hubs like Singapore and Hong Kong risk being left behind as they maintain stringent border curbs and try to stamp out single-digit flareups. After a brutal 18 months that claimed 3.3 million lives worldwide, nations like China, Singapore, Australia and New Zealand have suffered fewer deaths during the entire pandemic than many countries, even highly vaccinated ones, continue to log in a matter of days. That achievement has allowed people to have largely normal lives for much of the past year. Some haven’t even had to wear masks. But sustaining this vaunted status has also required stop-start lockdown cycles, near-blanket bans on international travel and strict quarantine policies. The few travelers permitted to enter have had to spend weeks in total confinement, unable to leave a hotel room.
