Thread: how economic crisis impact your life?

although financial crisis break out in the western country,although China has stringent regulations on exchange controlbut no doubt,Chinese people can feel economic crisis impact their life.
as a Chinese ,I can see and feel these:
1,the rate of unemployment grow quickly,in Guang Dong,many small & big factories bust up,workers lost their job.
2,people start save more money and spend less money on consumption.
3,The commercial property market is keep declining.2008 is a very cold year
4,people start buy cheap products
5,some of my friends works in Optical glasses frame factory,in the weekend,they usually stay in dormitory,but not go to bar,Disco dancing hall.they don't wish boss rise salary for them,but wish factory OK.actually,in most company,employees are get wage deduction
...
as me,I do business.I found business become difficult.and i wish everything be OK.

It doesn't seem to effect employement yet, there's no change so far. The transport and automobile sector are getting the first hits and people are postponing the booking of vacations.

I live in Virginia, and so far for me, personally, the only impact has been in my husband's retirement fund. We've lost a lot of that retirement savings.

Across the state however its a different story. Since August 1, 2008 we've had 11 major business closures in Virginia with a total loss of 1271 jobs.

We've had layoffs totalling 2189, not counting the lost jobs due to businesses closing.

This is only since August 1, 2008.

We, in the USA, are feeling the same pain as you are feeling in China, and like you, I, too, wish everything would be ok.