Wednesday, October 22, 2008

Global Recession-

I don't know if by writing this blog then I'm influenced by the news, and media, who (as people say time and again) have the tendency to exaggerate every news that they have.

In the midst of global recession, the Asia region still stand up by its own and managed to help its west counterpart. Its not as if the region is not hurt by this, we have our share of poverty, unemployment, economic crisis, politic instability, etc. But then we do not exclaim our self as a super power country just because our economy managed to pass the point of wealthy.

Before the this economic crisis, we see the west as a wealthy region. A region where poverty is minimal, unemployment is nonexistent, and a very stable economy. But then this happened. The truth is uncovered one by one as we understand that the region's wealth is about debts and more debts. Its like they're all about the image and pride, as long as they look good to the world, its OK. I find that to be so vain, and hypocrite.

It reminds me on my own country's economic crisis on '98, that time the condition was bad, most people (even the rich one) doesn't seem to have any money. And the government was in torn, because of the politic instability, offers of loan seems to be the right way, the only way for us to get out of this mess. But after two years we realize that, loan mean debts. And the debt of my country is mine, my children, my grandchildren, and maybe even my grandchildren grandchildren duty to erase. That's why I'm quite relieved when the new government, formed in 2004, refused to add another debt in our pockets and sort of said "we will make it on our own" and that we will.

Back to the global recession issue, what makes me grateful that I'm born as Asian is that we have a culture of saving, and a bad habit of calculating every single thing that we expend, another thing is we tend to struggle more, maybe its connected to years of history and culture, we learn from what happened before. And that kind of lesson is not the one that you got from Its like what my father always told me "do not make debt!", we learn that its more relieving to be humble yet prosperous.

While the tendency to loan and make a debt is growing in the west, in the east more and more people are saving. This is sort of the crux of the recession, while the west has to cut of their spending, the east have to spend more to make the economy stable. So what shall we do then? I guess we just wait and see.

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