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For example, the economic downturn is forcing many South Koreans to change or abandon their travel plans. This has affected the tourism industry in Brunei, which is a favorite destination of many South Koreans. Because of declining numbers of global tourists, Egypt’s tourism workers are complaining that their salaries are not being paid on time.
Decreased consumer spending in the United States has also brought down the demand for garments made in Bangladesh. This has weakened the garments export industry of Bangladesh, which employs a large number of the population. Bangladesh exports its products mainly to the United States and the United Kingdom.
In Russia, the financial crisis is signified by reduced government spending on healthcare. In Japan, the recession has become evident through reports showing reduced department store hours, a slump in car sales and an increasing presence of jobless and homeless persons in temporary facilities, parks and even Internet cafes.
The economic freeze became literal in Ukraine as hot water was shut off in much of Kiev for a week last December because of unpaid water bills. Ukrainian blogger Evie reported that residents couldn’t even wash their dishes because the water in the taps was literally freezing.
Hong Kong, a tower of strength in the global financial community, was shocked to learn that the stocks of HSBC Holdings crashed to their lowest level since 1995. The shock was personified by a TV commentator who shed a tear while reporting the unbelievable plunge in the bank’s stocks last week.
The global recession is forcing many people to behave in strange ways. In Latvia, four special guard dogs in a state prison were killed to save public funds. In prosperous Singapore a disgruntled senior citizen, angry at not receiving a red envelope containing US$135 traditionally given at Chinese New Year, set a lawmaker on fire. Bloggers from Jamaica and Trinidad and Tobago have observed that many people are now keeping their money under mattresses instead of depositing them in banks.
Even language has not been spared by the recession contagion. In Kazakhstan the word “crisis” is now perceived as a taboo, especially by government ministers. In Japan, asking “What are you up to now?” and “Are you married” have become taboo questions because of rising unemployment. In the Philippines, the government has redefined the meaning of unemployment. If you are jobless but not actively looking for work, you are not considered as unemployed by the state.
The current economic crisis has worsened social inequalities in many countries. It is not surprising that public unrest has gripped both rich and poor nations. In Russia disgruntled citizens launched “dissenters’ marches” in the cities of Moscow and St. Petersburg last December. A drivers’ protest in Vladivostok was significant because the media openly discussed the prospect of unrest in Russia and the protesters were ordinary citizens who had refused to join opposition-led marches in the past.
As more Russians are becoming dissatisfied with the economy, the Russian president has unleashed a preemptive legal strike – the Russian criminal code was modified to allow the instant prosecution of persons who instigate “mass disturbances” and “diversions.”
Recession-related protests are erupting in different parts of the world. There was a general strike in France and wildcat strikes in Britain in January. Protesting Greek farmers clashed with riot police last month. More than 600 labor protests were registered in Egypt last year. In Singapore, investors protested in the streets when big Wall Street banks crashed last October.
Riots broke out in the French overseas departments of Guadeloupe and Martinique as people protested against skyrocketing prices. In Guadeloupe, the slogan of the rioters was “Let's gather to fight against all sorts of abuses.”
More than 10,000 people participated in the so-called Penguin Revolution in Latvia in January. The protesters disliked the statement of the prime minister, who compared Latvians to penguins who stick together during severe winter storms.
Over the past few months, the financial crisis has engulfed much of the world and created disastrous economic consequences. The full impact of the global economic recession has not yet been felt. The number of jobless, homeless, hopeless and angry individuals and groups in the world is expected to swell further. This promises to be a very difficult and dangerous year.
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(Mong Palatino is an activist and regional editor for Southeast Asia of Global Voices Online. He can be reached at mongpalatino@gmail.com and his website is www.mongpalatino.motime.com. ©Copyright Mong Palatino.)
