Based on a survey, because of recessions in the US, Europe and Japan less demand for exports, China’s manufacturing contracted for a fifth month in December.
The CLSA China Purchasing Managers’ Index stood at a seasonally adjusted 41.2, compared with a record low of 40.9 in November, according to CLSA Asia Pacific Markets last Friday in an emailed statement. The index which is below 50 reflects a contraction. Read more…
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China, crisis, economy, export, manufacturing, recession
Although the global economic crisis has given huge impact world wide, Shanghai is still a popular place for foreigner to work and live in. It seems that the economy recession has taken nothing away from the city’s allure for foreigners.
Marisa Espanyol, a 35-year-old property lawyer working in Shanghai, feels lucky to move to Shanghai. “It’s my best move so far,” She said, “I’ve learned some Chinese, you know, it’s always good to experience other cultures when you move.”
Espanyol was one of more than Read more…
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China, crisis, economy, expat, recession, Shanghai
Vice-Minister of Human Resources and Social Security Zhang Xiaojian said late last month that the urban registered unemployment rate can be kept below 4.5% this year, but the rate may rise next year.
According to a recent survey of Manpower Inc, a leading global employment services provider, the rate of hiring new employees of companies in Beijing, Shanghai and Guangzhou become the lowest.
The current job market is Read more…
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China, economy, job, market, recession, unemployment
Global financial crisis brings recession both in economy and job market. With the uncertainty of economic slowdown, many workers maintain that nothing can be more important than securing jobs.
As numerous companies are slashing salaries and headcounts, it is reported that more employees are becoming cautious with job-hopping and looking for good advices.
A lot of employees feel the current situation could worsen Read more…
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China, crisis, economy, job, market, recession
Industry exports in China are being freezing as the global recession has spread so fast. Experts warned that the situation could be worse in the future amid global financial crisis.
According to the Ministry of Commerce in a report on trade outlook, the situation will become more complicated and bring more uncertainties in 2009.
Experts forecast that the government Read more…
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China, crisis, depression, economy, export, industry, recession
According to the government of Japan on Nov 17, the country’s economy slide into a recession for the first time since 2001. As the global economic crisis continues, companies in Japan cut back on spending in the third quarter sharply. The world’s second largest economy could further decline in the coming months, warned the government officials and economists.
After declining an Read more…
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China, crisis, economy, Japan, period, recession
Although designer boutiques in Tokyo are still crowded with well-groomed young men, few of them carry shopping bags these days.
As Japan’s economy is in recession and its stock market hovers around the lowest point since 5 years, buyers are not to spend extra money, and the influence on European fashion houses has been dramatic.
From Louis Vuitton to Versace, brands are going on a test Read more…
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brand, designer, economy, recession, wallet
A potential global recession is caused by the deteriorating US credit crisis, which is said to force many CEOs of Chinese enterprises to make emergent plan to cut production and corporate expenditure in preparation for leaner times. These companies have for years worked toward an export boom.
As the surplus goods, produced by the fall in exports, can not be digested by domestic market, many Chinese are possibly facing the problem of excess capacity, caused by easy and Read more…
Popularity: 2% [?]
Chinese, difficulties, firm, global, recession
