The crisis ahead
When I turned on the news this morning, there was a report claiming that every third employee in Japan has considered suicide at least once, because of the economic crisis and rising unemployment in the country. Although suicide is not unusual in Japan, this survey clearly shows to what extent the global economic crisis has affected and is still affecting people here in Asia.
And the crisis is thought to be far from over. American banks and companies have been significant lenders and investors in the Asia Pacific region, not only for their own companies but also in terms of bank loans and investment in financial instruments. Therefore, experts say that the current crisis could have an impact similar to the impact that the Asian Financial Crisis in 1997 had on markets in Europe and the United States. Let us hope, they’re not proved right.
