I wrote this post on 27.12.08 about what had happened in 2008 economically. It seems that, except for the part about the petrol price and the effect of the slowdown on China, the same post applies. Even the part of too many holidays applied this year and last year. Go figure. And to think that at this time last year we were expecting the new President of the most powerful nation on earth is going to CHANGE! the world. Yeah, right...
"There was this old song by the Counting Crows (which I bet younger sets never would have heard it except for the Xmas season) called Long December about bleak winters and such and when people gather to celebrate the season although it may not have been a good year. This song is one of my favourite song as it makes you feel the cold air swirling while sad tales or families gather around a hot fireplace. It is a song singing what that year had bring and hoping the next year to be better.
That brings me to this year. Malaysia have managed to weather the economic storm swirling around the globe which had uprooted massive global conglomerates especially in the United States. Powerhouse like German, Japan, United Kingdom and even the emerging China was brought down to its knee. The word recession is being whispered around by economic communities like an open secret everybody wish would never happen.
Malaysia seems to be in a protective globe which had given the people a false sense of security. The people are not in a state of denial although they are happy that the petrol price at the pump is getting lower and lower. They still grumble that the prices of essential goods are expensive although sales for non-essential goods seems to be for the whole month of December. Not everyone is buying. Government for the past 3 weeks have been annoncing stimulus packages and warning companies to not lay off worker without at least some form of compensation. The government, either statewise or federalwise, was caught with their pants down when Western Digital closed up their factory in Sarawak and lay off nearly 3000 workers.
The business communities keep sending mixed signal as there are those who readily admit next year will be tough and their industry might be hit hard. Some are trying to show that they know what to do to weather any type of economic slowdown. Research houses this time around do not holds bar as they warn for everyone to be prudent and change their business models if need to. Even without a major scandal or any one institution fail in its business in Malaysia, when the storm hit the window, we just hope our economic pane is strong enough.
So, it seems that as much as people are tired with so many holidays what's with the Eidul Adha at the start of the month, the Selangor's Sultan birthday (for Selangorian), Christmas, Maal Hijrah and New Year, isn't it best if we have a really looooooonnnnnnnggggg December and just let the wind past us without any damage at all. It may be wishful thinking but if it does hit, just be tough"