Chinaís New Fiscal Conservatism

Author: Frank Mulligan

If you are not convinced that hiring is likely to fall in the next few months, or even weeks, this email on the Ten Things You Can and Cannot Do, is circulating all around China at the moment.

Fiscal conservatism is now clearly in vogue and fiscal conservatives donít spend, donít use credit cards, and donít even get married Ö

1. Donít quit your job. Donít change your job. Donít shift your industry. Donít start your own company.

2. Prepare for a position in a different company. Help your friends look for jobs, recommend friends for positions. In case you are laid off, they will reach their hand to you.

3. Donít ask for higher salary. Whoever gets paid more is more likely to be laid off.

4. Save! Save ! Save! Buy national debt. Donít invest in the stock market. If you have already brought stock, even if there is a little profit, you have to sell it. Donít wait!

5. Send money back to your parents.

6. Donít purchase cars. Be cautious about buying property.

7. The later period of the crisis is the hardest. It hasnít arrived yet. Donít be over-confident that you have weathered the storm.

8. Think carefully about getting married. Donít get divorce. Donít try to have a baby.

9. Even if the crisis hasnít affected your life yet, please be careful about spending money. You should spend 70% of what you spent before the crisis.

10. Be cautious using credit cards.

Tip ëO the Hat to ZhongNanHai