Posted by
tsuiwah
17 yrs ago
Earlier this year, when I thought the economy was going to slow down, I would still see packed local restaurants during the weekends.
Other than shorter taxi queues, Cathay Pacific offering promotions last seen during SARS, and a slower/weaker property market, has anyone else noticed what could be described as an impact of the global financial crisis?
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Its not Asia you should be looking at, we have just come out of prolonged recession so most countries are lean or have capacity and there is going to continue to be growth though not like we have been used to. At the moment people don't feel it in their pockets. Retail investors are nothing like the number that used to play the market before the handover. When they start announcing cut backs or hiring freezes restaurants will not be full. In Manhattan that is already occurring.
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Not so tangible yet, but definitely it is coming. More medium - small sized factories wl be closing down before or after CNY because tremendous decrease in orders from the States. More retails shops wl be closing. The number of property agents/shops will be cut (there are too many anyway).
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cd
17 yrs ago
My monthly shopping bill has gone up $2 -3k a month due to price increases. Have only had one 5 day holiday in the last 15 months, no sign of one anytime soon.
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