The relationship between the Business cycles and us.

The relationship between the Business cycles and us.

Kenneth, Tang Chun Shing

 

I have read an article form South China Morning Post at November 22. It about the Hong Kong’s Exchange Fund (i.e. the reserve that backs the Hong Kong dollar) is set to record a full-year loss for the first time in Hong Kong’s history. 83.3 billion Hong Kong dollars was lost for the first nine months in this year due to the global financial crisis. The chief executive of the Hong Kong Monetary Authority, Joseph Yam Chi -Kwong said that, the total loss in this year may more than 100 billion Hong Kong dollars. The economy of Hong Kong it seems to be recession.

 

Form my basic knowledge of CE Economic, unemployment rate and inflation will increase under recession in a city. Now, it seems to have no any side effect to us because the recession just beginning to start. Fortunately, when we finish the Form 7 after about one and half year, the economy of Hong Kong will under depression. The unemployment rate will be the highest. That mean we will very difficult to find a job if we can’t promote to university. But if you can get the degree in the university in the future, you will find a job very easily because the economy in Hong Kong at this time should be recovery. I hope that all 6B classmates can promote to university!

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One Response to The relationship between the Business cycles and us.

  1. JCCSS 說道:

    Lunny 撰寫: Yes! You are right. Although I didn\’ t study Econ. ,I know every countries, even cities have their own business cycles. I know the Hong Kong\’s cycle is very short. Maybe the economy can collapse easily because of something, but it can recover very fast, only use a few yrs. Don\’ t be so depressed. Everything has their start and end. We must accept this cruel denstiny. But we must also understand this cycle is eternity. In other words, that will have a new way to let us walk. BE STRONG! GOD BLESS US!12 月 1 日 HOIBE撰寫: It is a stunning figure that Hong Kong has lost so much money owing to the financial crisis. Actually, if Hong Kong lose money, that\’s mean all the Hong Kong people lose money too, including you and me. Since it affects different circle ,lots of company and organization closed down. It is then increased the unemployment rate. The bad effected RECYCLE. It is also a fact that the financal problem won\’t go away in a short period of time. For this, i agree with Kenneth that we should try our best to promote to university.12 月 1 日 wendy 撰寫: I think it is a great attack for many people ,not only the hongkonger. Most of them lose their money.The Hongkong government implement lots of programme to help the people who was effected by the gobal financial crisis.However, I think the most important which the government should do isfacing the problem with us with a optimistic attitude .Don\’t give up and put more effort in our future.And the thing we should do is working hard in our studying .I hope all of 6B can get into university and don\’t need to face the problem about finding a job after two years.11 月 30 日 Elton 撰寫: Now, not only Hong Kong facing the financial crisis, but also most countries are facing that, especially United States, the unemployment rate is very high, which is very seriously that the productivity is in a low rate. I agree with Samson that after about 2-4 years, the economy in Hong Kong will recover and also the rate of unemployment will become lower. At that time, the competition among people become more vigorous, also more and more people can have a degree of university, therefore we should do more than what we should do. And now, we are lucky that can survive in HKCEE that we have one more chance to compete with others to attain a degree of university. To conclude, we also are facing the problem of financial crisis, what we can do is work hard to have a basic qualification to enter into the society. 11 月 29 日 samson 撰寫: Promoting university is the dream of all our classmates. It is true that after about 2 years, the economy in Hong Kong will recover, and the umemployment rate will decrease. More and more people will be able to find a job. However, in this scociety, the competition among the young people become more vigorous. Many skillful jobs require high academic background. If you give up your studies, you will be unable to survive in this society. So we should treasure the opportunity of education. In poor countries, people are not only unable to take education, but also have to think many ways to overcome hunger. We should try our best to study well, and always think about the poor situation of people in third world\’s countries. How lucky we are !11 月 28 日 Chan Ching Lam , Kriz 撰寫: It is depressing for me and Hong Kong people to know Hong Kong lost $83.3 billion for the first nine months in this year, and at the end of the year the total loss will be more than $100 billion. The negative effect of the global financial crisis began to affect our city.You are right that Hong Kong will soon fall into the period of recession and the unemployment and inflation rate will reach the peak. On the other hand, we will be graduated from form 7 at that period, it will be very difficult for us to find jobs at that time. Therefore, all of us should work hard in order to get good results to promote to university. At the time we finishing our degree in university, we would be able to find jobs easier than the time we graduate from form 7.Go ahead, be the best, 6B students!11 月 25 日

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