and then rises hopes again (the people does)

In case you hadn't realized, the song is aimed at "Beijing Welcomes You," a ubiquitous anthem that played all through the summer last year (and beyond). With Shanghai acting like the Expo is just as big an event as the Olympics, the theme was ripe for parody.

Chinageeks did everyone the courtesy of translating the song into English, though they warned that the translation didn't pay much attention to rhyme or meter:

Shanghai is getting harder and harder to live in these days, From the basic necessities to eating, drinking, whoring, and gambling it’s China’s most expensive, Shanghai doesn’t welcome outsiders or people from Shanghai, Shanghai only welcomes the kind of people whose faces are on money [i.e., Shanghai only welcomes money],

Shanghai doesn’t welcome you,
Unless you’re coming to buy something,
But we don’t have any money on us,
Shanghai doesn’t welcome you,
The 2010 World Expo [hosted by Shanghai] is really great,
All the rich people from all over the world will be united [in Shanghai]

Underground at 93 Lingling Road there lives a rock-and-roll youth,
Five rooms underground, very cheap price,
When he’s finished rehearsing he goes to a small restaurant to enjoy himself,
What a shame that at the end of this year he’ll have to move because of the World Expo

Shanghai doesn’t welcome you,
Unless you’re coming to buy something,
But we don’t have any money on us,
Shanghai doesn’t welcome you,
The 2010 World Expo [hosted by Shanghai] is really great,
All the rich people from all over the world will be united [in Shanghai]

And in case you wanted to see the Chinese, here it is (courtesy of the Hen Huang, Hen Bao Li (很黄很暴力) blog):

上海现在是让人越来越活不下去
从衣食住行到吃喝嫖赌裁是全中国最贵
上海不欢迎外地人伊也不欢迎上海人
上海只欢迎一种人就是有钞票额人

上海不欢迎你，除非来买东西
可是我们身上都没有人民币
上海不欢迎你，世博会实在是了不起
全世界有钱人来相聚

零陵路93号住了一帮摇滚青年
地下室有五间房间价钱也蛮便宜
排练好到对过小饭店老酒再咪一咪
可惜到子今年年底就要面临世博会动迁

上海不欢迎你，除非来买东西
可是我们身上都没有人民币
上海不欢迎你，世博会实在是了不起
全世界有钱人来相聚

Not perhaps the cleverest lyrics, but as C. Custer says, "it does capture the frustration that seems to be spreading about Shanghai housing prices (and prices generally), as well as the frustration people have about being shuffled around by the government to make way for new buildings they can’t afford to live in." And according to Jake Newby's coverage of the event, the crowd went crazy for it.

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