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!