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H.S. Seah
31st October 2008, 11:01 AM
I spend my Deepavali weekend at Shenzen and Dongguan. This trip was quite phathetic. First the flight AK80 was not full, second in Shenzen Airport, it was quiet. The coach took 40 minutes to Dongguan and along the way, many factories seems closed with litters spreading in front of main gate.

Upon arriving in Changping , Hui Hwa Hotel it was not busy on a weekend. Most guest are malaysians. Even the restraunts and nightclub are half full , a far cry from my last visit in 2005. The roads are empty. The crisis have taken its toll in Dongguan. Many are jobless.

On Sunday we hire a coach to day tour Shenzen, same the roads are clear, the shopping malls are empty.
The restraunts are half full. Most of shenzen's produce exports to USA and EU countries. The effect have reminded me of my visit to Bangkok in 1998 when the asian crisis was at its height.

How long will it take this time I wonder.? The only consolation was the cheap night life.

Han2
31st October 2008, 11:01 PM
And I understand Shenzhen is the hub of economic activities for China.

I went back to Shanghai to visit some of my ex-colleagues there as I used to be based there for a MNC beverage company, everything is gloomy. This is actually the peak for people to be at Yangchen Lake, outside Shanghai, for their famous hairy crabs and yellow rice wine binge.

Back in 2006 winter, it was diffcult to get a place to have our crabs and wine, one has to book weeks ahead. Two weeks ago, we could just walk in and we get the best quality crabs and the best service.

Yes, hards times are here in China and I really pity some of the people who had never seen an economic downturn.

pywong
31st October 2008, 11:22 PM
Han2,

Hard times are necessary for excesses to be shaken out of the economy. On a personal level, it is a time for consolidation and building our foundation to prepare for the next upturn.

I find the report above a bit difficult to reconcile with the reports that China will still experience 8% growth. Where is it coming from if one of their most dynamic regions are in the doldrums.

Maybe it is a good time to start visiting in China. ;D

lokgp
21st November 2008, 09:06 AM
I think the figures provided China is distorted. I have heard the same from my father too who just visited Guangdong.
He expressed that the factories are quiet. All 16 km of factories are quiet, and the train is full with people.
He observed that people are either going to work OR going back home on the train. Your guess is as good as mine.

rocky
21st November 2008, 12:05 PM
i was in Shanghai last week. we things busy or quiet? It was normal from what I saw. The restaurant we when was packed and we had to wait for 25mins for table. But they are feelings the economic slowdown and they are busy talking about it. But they are still doing ok in some sectors. those exporting to USA are getting the full blown effect. China will do better than us thou cos they acknowledge the problem and they have leaders who are accountable unlike ours.

pywong
21st November 2008, 09:14 PM
i was in Shanghai last week. we things busy or quiet? It was normal from what I saw. The restaurant we when was packed and we had to wait for 25mins for table. But they are feelings the economic slowdown and they are busy talking about it. But they are still doing ok in some sectors. those exporting to USA are getting the full blown effect. China will do better than us thou cos they acknowledge the problem and they have leaders who are accountable unlike ours.


Their leaders may be accountable. But ours are countable. They can count to the nearest billion. ;D That's why Badawi can't tell the difference between 1:300 and 1:3000. Back in 2003 when he was the Deputy Home Affairs Minister(or was it Home Affairs Minister?) , he insisted our 95,000 police represented 1:3000 of the population of 27 million.It took one week of hammering in the papers before the correct figure sunk in. And he had the cheek to take up the Minister of Finance post after that.

Han2
29th November 2008, 06:58 PM
Aha! Now I know why he slotted himself as Minister of Finance, he can't count...
So if anything is botched, he can then just say he cannot count! Ready excuse! :o