beyondBeijing2008.com

12 Nov, 2008

Chinese brace for cracks in ‘miracle’ economy

Posted by: admin In: Around Beijing| News

By Eric Baculinao, NBC News Beijing Bureau Chief

BEIJING – China is greeting the financial crisis with a sense of alarm.

“The economic crisis has arrived, are you ready?” asked one Chinese blogger recently.

It was one of the many tell-tale signs that the tumult is beginning to touch China’s once booming economy.


While Beijing has recently responded with a massive stimulus package to forestall a potential crisis, the Internet is abuzz with ordinary folks exchanging inventive tips to cope with the challenges ahead.










A man holds a baby
Reuters

A man holds a baby as he sits in front of a poster begging for work on a walkway bridge above a main road in Beijing on Nov. 5, 2008.

“Drink boiled water, not bottled water, and avoid entertaining guests,” wrote one Chinese blogger in a 23-point advisory.


Another blogger called on China’s youth “not to fear empty wallets or unemployment.” 


“We are young and can start again,” he said, and went on to describe how to outsmart the economic downturn. ”Don’t ask the boss for pay raise,” he advised. “Layoffs start with those with high salaries.”
…(read more)

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