The repercussions are deep andwide-ranging. Practically every sector in the economy has felt the effects oneway or the other. Some harder than most.

 

 

China, the 3rd largest economyin the world, has had to deal with falling exports and imports, rising tide of unemploymentamong both migrant workers and fresh graduates and last but definitely not theleast, unprecedented number of business closures. It’s a vicious cycle that’snot going to end anytime soon.

 

 

What does this all mean for the commonperson like me? Let me put this in a simplistic way. If I am a graduate, I canexpect NO jobs for the foreseeable future. If I am a business owner, I hadbetter start planning who to lay off next. If I am a salaried worker, I hadbetter start worrying my job security and probably start writing my resume. It goeson and on and on…. The point is - this crisis hits everyone, if not now, thensurely later. The scary part is when?

 

 

I have absolutely no idea how to stem thiscrisis. I don’t even know how this mess even started! Although there’s acertain superpower I could point the finger at as the cause of this nightmare.But anyway, it’s not my job…I’m not going to go into that.

 

 

I really feel for those who had to bear thebrunt before me but for now, I count myself as one of the lucky few who hasn’thad to make any changes to my lifestyle.