does recession affect you country?

Philippines
July 5, 2009 4:12am CST
America, no doubt to be one of a big economic country. But now this economic tiger is experiencing recession. I think it's been a year or two now but still struggling to be rise up. No i'm not in america, but I live in a country that depends so much in america's success. Most of my fellow countrymen dreams to step to this country for more profitable work. But with recession it seems some were sent home. This means a little downtime in our economy. How about you, does your country feel the recession also? Did you really think it affects your country?
14 responses
• China
6 Jul 09
certainly it affcets in china,here we as the developing country.but maybe not so serious as some other countries. such as in our small import and export trading company,we also dismissed several employees this year. i do hope we china can adjust the industry structure after this recession.
• Philippines
7 Jul 09
oh yeah, china is so much dependent on other countries in their manufacturing industries. am i right? Because china has always the lowest bid in labor forces that is why they always get clients for manufacturing. I'm sorry to say those, but it's true. And sometimes it's killing us to. Because other countries are doing the same just to have a stable client in the import and export industry.
• China
8 Jul 09
but i dont think it's true. if u think so.i only will say u'r still staying at the past period. we have cheap labor compared to the developed countries. but in the world there are more much cheaper labors than us,(even in asia) then why the manufacturers choose us? i believe u can know the reasons. here i can tell u definitely u'r wrong, china's labor is not the cheapest as u said. i feel u need to know more abt the current world news. if my words offend u,just so sorry.i only want to point at the affairs, not the person.
• Philippines
14 Jul 09
Hi Yolanda, really there are more cheaper? I must not be really updated then. But maybe i said that because china is our biggest competitor in terms of manufacturing. Well, i just hope we pass through this recession peacefully. Happy mylotting!
@tomjoad (551)
• Philippines
14 Jul 09
before i answer that question, allow me to ask you this tuliorowena. where are you from? anyway, i'm from the philippines. just like your country, our country depends so much on america. heck, i think our government and economy would die without them. however, since we are so used to poverty here, the economic recession doesn't really bother us. we can't be poorer than we are right now. i mean, people here have been poor for decades. they are so used to poverty that news of recession doesn't hold water. it's just like any ordinary day for us. why you may ask? it's because even if the government or surveys say that our economy is getting better, the prices of commodities and basic goods remain the same. so what's the difference?
• Philippines
14 Jul 09
hi tomjoad, we are kababayan! i agree that prices of commodities and basic goods remains the same. So do you think the government are just reasoning out americas downturn, so they can steal the peoples money? -Happy mylotting!
@oindy54 (3446)
• India
11 Jul 09
Well yes,recession has affected my country to a great extent. Prices of everything from eatables to transport to daily usage commodities have soared. We are a poor country and some people do not have enough to satisfy their hunger but the increase in costs have made life more difficult for everyone including the middle-class. Only the rich are still leading smooth lives because that is the way the economic distribution in our country is. The rich grow richer by the day while the poor become poorer.
• Philippines
11 Jul 09
Oh so sad to hear that poor gets poorer. But i believe that's reality. Hope every country can surpass this downturn. Happy mylotting!
@julbau18 (273)
• Philippines
6 Jul 09
Hi are you a Filipino? Im a Filipino but I am proud to be part of this country. Yes somehow and really does my country was affected. But think positive. We must not be dependent on our country. We can achieve success by our own motivation. Learn how to be positive and you will see a good result happens in you. If the prices increase then dont think of the problem, think on how you can get more earnings that is too much for your expenses. Never focus on the problem, focus on the solutions you can make. Remeber to have savings and investment.
• Philippines
7 Jul 09
Hi julbau, yes i think you are right. we must think of solutions rather than just blaming the down turn of the economy. Because this is just a phase. Humanity can surpass this. Because we are smart.
• Philippines
5 Jul 09
Recession affected our country the Philippines especially the semiconductor/electronics industry. Many jobs were lost due to factories having low demands for their products since the demand became scarce due to the limited budget of companies who are saving the cash that they have for other interests. Some other industries like the IT industry, laid off some workers due to cancellation of some projects that they have from the USA which is in deep recession.
• Philippines
5 Jul 09
indeed, i'm feeling the world of business is in domino effect. thank you for the wonderful response =)
• India
5 Jul 09
Oh yes dear it has, People have lost their jobs. So many people have lost their jobs and indirectly not being able to cope with inflation. Things have gone up. Food , fuel etc everything has become more expensive now. Well yes i did think that it would effect our country too. What about you'll is it bad?
• India
5 Jul 09
dear just commenting here a little not applicable to all my btech colg owner and chairman has done diploma only but now he is the owner of btech college and even principal is more intelligent then chairman. but in all such conditions chairman ask for btech level to mtech level qualifications for staff under him for teaching........ similarly the peoples who lost their jobs in companies are supposed to be at lower qualification and performance from others. actually every owner of company wants good intelligent worker under them even more intelligent against owner.... so when profit goes down companies fire low qualification and made vacancies for higher qualification peoples..............
@pierone (1895)
• Italy
5 Jul 09
Recession affects the whole world. Also countries like china are feeling the recession effects. Things will change in an year or two, but my opinion is, nothing will be like before. The economic model will lightely change and, maybe, our life will come back to a "more human" life. If people could understand that we should work to live and not live to work, anything could be better for common people.
• Philippines
5 Jul 09
hi pierone! yes your correct i believe we should work to live and not live to work. Because work is just a part of life, and not our life.
@whateva (786)
• India
12 Jul 09
i know its wrong.. but hardly matters to me :P
@subha12 (18453)
• India
6 Jul 09
I think it has affected all the nations. In some cases, its small. In others it is less. I am also from a country where many things depend on USA. It is afffected a little.
@EliteUser (3968)
• Australia
6 Jul 09
Hey, I really don't know what you should do, hopefully someone below me can answer your question, I wish I could. Anywayz, have a great day MyLotting!!
• Philippines
6 Jul 09
Yes, the global economic recession definitely affects how business goes here in my country, in the Philippines. But luckily, we are not that affected compared to other countries. I my own opinion, we are of the least affected countries.
• United States
5 Jul 09
Absolutely the recession is affecting me and my country. As I work in the construction industry it has slowed it down to a crawl and I have been off work several times in recent months. Companies and people do not want to spend money on big developments or housing. It has also led to competition for the smaller companies to get contracts from big corporations which means the little guy is having to bid lower and lower to get jobs, to the point where some jobs have little or no profit margin. This inturn trickles down to employees who have taken pay cuts and therefore do not have the extra money to spend and put back into the economy. It's a vicious circle as they say.
@cher913 (25889)
• Canada
5 Jul 09
here in canada, we are not as bad off as they are in the US. we do and are suffering from a recession and have considerable job loss as well but our economy is in slightly better shape than our neighbours to the south.
@zhorak (491)
• Turkey
5 Jul 09
Yes, it affects all the world. In my country, unemployment increased and it broke the highest record up to now! Millions of unemployed! That's because most people couldn't buy goods, furnitures, clothes, electronics, cars, luxuries etc last few months. So the companies fired some of their workers. Unemployment is the worst economic problem in the world, I think. It causes crime! My government reduced the taxes to avoid reduction in consumption. Now people who have some extra money in their pockets started buying all their needs in a hurry while the taxes are low. I hope this will make the companies hire their workers back. Happy MyLotting