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Stocks

What the Old Jazz Band says about Shanghai

The musicians, like their city, have seen both the good times and the bad

The Old Jazz Band -- average age 82 -- performing at Shanghai’s Fairmont Peace Hotel (Courtesy of Fairmont Peace Hotel)

It was one of those chilly, crystal-clear Shanghai nights in early January and the city's two waterfront skylines -- one futuristic, the other historic -- were glittering inimitably at each other across the Huangpu River, luring two very different species of visitor.

On the Pudong side, in the ultra-modern Lujiazui financial district, where three of the world's 25 tallest skyscrapers rub shoulders, 2,400 investors had booked out the Shangri-La Hotel and most other nearby five-star accommodations for Swiss banking group UBS's annual China conference. Their motivation: to glean insights into what the future holds in these volatile times for the world's second-biggest economy.

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