Whilst it seems like the world in general is still partying during this time (as 婆婆 told Mummy this morning that she saw in the TV that there will be countdown parties at 步行街 and 徐家汇), Mummy is not too sure whether it is simply worth that celebration. After all, we have all seen how everything in the last 4 months of 2008 went downhill and 2008 is coming to an end with a lot of gloom as compared to the festiveness everyone felt in 2007. In 2008, we saw the market suddenly took a sharp turn in September when Leh* Brothers declared bankrupt and AI* suddenly announced that it is in huge financial difficulty. These news were followed by Cit*bank announcing its huge financial difficulty and then later the 3 big Motor companies in Dallas were also hit. Then, suddenly within the last quarter of 2008, the ripple effect from the banks came on to many other industries. Together with it, the stock market and property prices have plunged a big deal in the last few months.
Here in China, we also have the milk scandal issue. There are also lots of news that a lot of factories down in Guangzhou area have closed down due to lack of US demand, increasing labour costs and appreciating RMB. In Mummy's line of work, she also sees a lot of manufacturing companies suddenly turning to losses, especially with the stocking up of raw materials at high prices with the original expected demand for finished goods coupled with sudden falling prices for the finished goods due to sudden lack of demand.
Mummy reads and hears about bad news and retrenchment on a weekly basis. Such retrenchments even happened to some of Mummy's friends at church and at work. Suddenly the financial tsuinami just became so real. Many say that this is only the beginning. At least, there is some cushioning of the impact from the 1st part of 2008. But as we enter into 2009, the real downturn is here as we are likely to see many companies in a sea of red, many companies folding down, more unemployment etc. Of course, there are many who also say that the market will start to recover a bit at the end of 2009.
Despite all these gloom we see in 2008, as Mummy looked back on the past year, she feels that she still needed to give thanks for everything. After all, there have been good things that have happened during the year too.
- Mummy finally got the promotion to Senior Manager that she has long awaited for
- Daddy and Mummy still have a job (it is important to give thanks for this as retrenchment news are as near to us as our friends)
- Although it has been relatively difficult, Mummy did manage to strike a good balance between work and family life.
- Mummy also had the wonderful experience being a first time mummy. There has been definitely a lot of firsts. But Mummy is glad that her trial an error methods coupled with her reading up of information work most of the time. And I believe this is an experience that Mummy has had and would not trade for anything in exchange with.
As we move into the beginning of 2009, Mummy's new year resolution is to be able to continue to spend more time with me so that she can help me develop my language, motor and mental skills more effectively as I move into the toddler stage. She is preparing to start looking for a half-day school to send me to so that I can start learning more skills and 婆婆 can also have more time for herself.
