Xinhua Beijing on November 9 State Council Premier Wen Jiabao chaired a State Council on the 5th executive meeting to study the deployment of further expanding domestic demand to promote stable and rapid economic growth। The meeting held that the last two months, the financial crisis in the world economy became more grim international economic environment, to resist the negative impact on China, must have the flexibility to prudent macroeconomic policies to cope with the complicated and ever-changing situation. At present, we should implement a proactive fiscal policy and moderate monetary policy, the introduction of more effective measures to expand domestic demand, accelerate the people's livelihood projects, infrastructure, ecological environment and post-disaster reconstruction Improve urban and rural residents, especially low-income groups, income levels, to promote stable and rapid economic growth.
The meeting decided to further expand the current domestic demand and economic growth of ten measures. The first is to speed up construction of housing security. Increase support for building low-cost housing, squatter settlements speed up the transformation of nomads to settle in the implementation of the project, the repair of dangerous buildings in rural areas to expand the pilot. Second, to speed up infrastructure construction in rural areas. Marsh gas in rural areas increased, the safety of drinking water projects and rural highway construction, and improve the rural power network, such as South-North Water Transfer speed up the construction of major water conservancy projects and to reinforce dangerous reservoirs, strengthening the large-scale irrigation area. To increase poverty alleviation and development efforts. Third, speed up the railways, highways and airports and other major infrastructure. Focused on building a number of passenger lanes, Coal and Western Corridor rail line, improve the highway network, arranged in the central and western trunk line airport and airport construction, urban power grids. The fourth is to speed up health, culture and education development. The grass-roots level to strengthen the medical and health service system to help speed up the transformation of the rural junior high school, the central and western regions to promote special education schools and cultural construction of an integrated township. Fifth, to enhance the ecological environment. To speed up urban sewage and garbage treatment facilities and key water pollution control, focus on strengthening the protection forest and natural forest resources protection project in support of key energy-saving emission reduction projects. Sixth, speed up innovation and structural adjustment. Support the construction of high-tech industry and industrial technology, to support the development of the service industry. Seven is the earthquake-stricken areas to speed up reconstruction work. Eight is to improve the income of urban and rural residents. Next year to raise the minimum grain purchasing prices and improve the comprehensive agricultural subsidies, subsidies for seeds, agricultural subsidies, standards, and increase their income. To improve low-income groups, such as social security treatment target levels, in urban and rural low subsidies continue to increase the level of basic pensions of retirees entitled groups and subsistence allowances standards. Nine in all areas, the full implementation of all the industry value-added tax reform and restructuring to encourage technological upgrading of enterprises, reduce the burden on enterprises 120,000,000,000 yuan. Is the tenth increase the economic growth of the financial support. The lifting of commercial restrictions on the size of bank credit, a reasonable scale of credit expansion and increase its focus on engineering, the "three rural", small and medium enterprises and technological transformation, mergers and acquisitions of credit support, targeted training and consolidation of consumer credit growth. Preliminary estimated that the implementation of the project, by the end of 2010 to about 4 trillion yuan of investment. In order to speed up the construction progress, the meeting decided that the increase in the first quarter of this year, four arrangements of the Central 100,000,000,000 yuan of investment, next year ahead of time post-disaster reconstruction fund 200 billion, and the local community to promote investment, the size of the total reached 400,000,000,000 yuan. The meeting called for faster expansion of investment in hand, to re-punching, steps should be accurate, it should work. To highlight the focus of serious choices, strengthen management, improve the quality and efficiency. To give priority to projects already planned to increase support to speed up the progress of the project, start at the same time pay close attention to a number of new construction projects, into a number of people looking forward to a long-term economic development of the relations between the major event. Adhere to help promote economic growth, and help promote the structure adjustment; help pull the current economic growth, and enhance economic development potential; effective expansion of investment, we actively promote consumption. We should deepen the reform to promote growth and better together, under the national macro-control and give full play to the market in resource allocation role; to play both central and local initiative. The meeting stressed that despite the many difficulties we face, but China's huge potential for domestic demand, the overall stability of the financial system, businesses cope with changes in the market's awareness and ability of the world economy adjusted to speed up the upgrading of the structure of our country, introducing advanced foreign technology and human resources , And other new opportunities. As long as we take timely and decisive measures to correct policies, and seize the opportunities, meet challenges, we will be able to maintain stable and rapid economic development.
Sunday, November 9, 2008
Merchandiser trade unemployed return to the family "housewife
"Financial crisis" on Wall Street from the cold wind blowing in from all corners of the globe, Castle in the workplace is also a ray set off waves, some white-collar workers feel the smell Liang Yi. China Morning Post from today launched a series of reports, reporters in pursuing personal way, the original ecological and financial records in the cold wind in the workplace occurred in the true story of ups and downs. After five thousand received unemployment compensation October 31, 2008, for most people is a very ordinary day, but the 26-year-old Zhi-Qiang Mao (I should require the use of a pseudonym) that day have lost their jobs. Zhi-Qiang Mao in 2002 came to the Qingdao Institute of Technology built to go to university, graduating in 2006, into the middle of Hong Kong's external trade, a clothing company, has been doing Merchandiser, the so called within QC. QC very hard to do, Zhi-Qiang Mao Jiaozhou run almost every day, or Jimo. To order the company to him, with his orders to factories. Each garment production processes have to see to ensure compliance with the requirements of overseas customers. In the first half of this year, where Zhi-Qiang Mao's orders to reduce the beginning of his handling of the orders dropped more than 20 million U.S. dollars. Into the second half of the original book's 200,000 U.S. dollars of orders canceled all. No admittance except on all of a sudden he has become. October 31, he's received notice of labor contracts. Received 5,000 compensation, he left with a passion for work for more than two years. Not from the sudden loss of the pain relieved, Zhi-Qiang Mao began to consider himself and his girlfriend of survival. He earned 3,000 yuan a month ago, his girlfriend more than 2000 yuan of income. Now his girlfriend only to make money, 1,200 yuan a month rent, plus phone, utilities, food expenses, living beyond their means. Fushun Road, the two decided to rent the house to return, to move to cheaper Lee Chang-rent district. Nov. 6 on the first day of 16:00 Preparing dinner for a girlfriend At 16 o'clock on the November 6, came about as reporters Zhi-Qiang Mao's home, he had just returned to markets Lee Chang-century Garden District rented house, walked into the kitchen, aprons on the Department of Mao Yongqiang, to prepare dinner. 18:00 Eat up the remainder of his meal Nov. 6 on the evening 6:00, Zhi-Qiang Mao's girlfriend home. On the table that has to do a good job of pork stewed cabbage bean, potato Lachao silk, tomatoes Dan Tang, very happy. "Yes, a good trade!" To hear the praise of his girlfriend, Zhi-Qiang Mao did not smile on the face. To sit down at the table next to his girlfriend began to eat, Zhi-Qiang Mao was on the point of smoke. His girlfriend asked him why he does not, should Zhi-Qiang Mao: "hungry, you eat it." Hardly a learned advice girlfriend looked at the rice Liang Wan, Zhi-Qiang Mao began to feel good, the rest of the meal dispelled. 19:00 Open the Internet job search website After dinner almost 7:00, Zhi-Qiang Mao come to the side of the computer, open the online job search page. Unemployment, Zhi-Qiang Mao sent through the network of countless cover letter, but the results are the same every day - came to nothing. The computer is bought at the end of 2005, the year of the Zhi-Qiang Mao is a year-end bonus. 20:00 Remove the books ready to pay "Small collection of warm, posted a notice of the charges, on the 16th hand, do not forget." 20 o'clock, I heard the girlfriend called, Zhi-Qiang Mao out of the two books. There are books above more than 20,000 yuan, which is the work of two of the last two years of savings. Despite looking for a job has been to avoid the topic, but unemployment brought about by the economic problems are two unavoidable. After long silence, Zhi-Qiang Mao's girlfriend is still open, "you should not even think about too much, will always have the opportunity. You all day long business trip two years, every day, come back late, can now take care to look after me. " 23:00 Yan Gang has 12 cigarette butts Zhi-Qiang Mao stand up and clap his girlfriend's head and said something "easy." "She and I are alumni of the University, she is Juye Heze, Linyi, I was east of the area, the two sides are satisfied with the parents. Girlfriend is safe, she has graduated from the electrical machinery sales in a company ... ..." Speaking of his own The girlfriend, Zhi-Qiang Mao's in a good mood a lot, Yan Gang, has 12 cigarette butts, at this time is 23:00. The next day on November 7 10:00 Fair-bank money markets At 10 o'clock on Nov. 7, Zhi-Qiang Mao took out 1,500 yuan from the bank. He's seen the property, the property costs and heating costs a total of more than 1100 yuan, the rest of the money is the cost of living in the near future. He Quliao Tang Shun markets, to buy a newspaper and ribs at night to do his favorite soy-braised pork ribs. 12:00 Internet job-seekers back to view the hearing Home for almost 12 o'clock, Zhi-Qiang Mao re-open the recruiting Web site, did not receive any echo. From the on-line news, foreign trade apparel industry will continue to slump. "You recently how?" Zhi-Qiang Mao's foreign trade sector to play a round of telephone a friend and asked the same question, with the result of speculation that he deserted the same. "The downturn in foreign trade clothing company, friends say their company's business also fell into about five.'s Been a lot of CD's, we all a little nervous." 14:00 Re-design of the curriculum vitae At 14 o'clock on the November 7, Zhi-Qiang Mao on the computer itself hit the work of the curriculum vitae. "Working for two years, work conscientiously, annual business trip and never complained." Fill in their own evaluation of the column, Zhi-Qiang Mao summed up their work experience. When asked to fill in the salary column, Zhi-Qiang Mao hesitated again, "a monthly salary of 3,000 yuan, I am afraid there are very few companies can provide this kind of job, would like to pay more than it is out of date." In the end, Zhi-Qiang Mao write this sentence: Asked their company to pay its own number, it is better to prove that they can create much value. 20:00 Tearful mother to answer phones Nov. 7 on the evening 8:00, a telephone disrupted Zhi-Qiang Mao's mind, is a telephone call from the mother. Every Friday, Zhi-Qiang Mao will be home to one phone call, but this week is no time to call Zhi-Qiang Mao, the elderly take the initiative to fight back. "Both of us here are very good, you do not mind ... ..." "My dad is also all right? Cutting point, he asked the wine." Telephone played nearly 10 minutes, making a phone call, Zhi-Qiang Mao did not tell his mother, the unemployed, Turned to the toilet, wipe with a towel, a face, eyes or red. On the third day on November 8 9:00 Personnel rushed to the market on time At 9 o'clock on November 8, Zhi-Qiang Mao on time in the talent market, Shandong Road, outside the gate filled wait for the admission of university students. Zhi-Qiang Mao wore in 2007 to buy red collar suit, this suit is his girlfriend bought him, usually wearing very little, only to attend a friend's wedding or formal occasions, when these are put on a suit and tie marked. Recruitment into the hall, Zhi-Qiang Mao lost in the vast sea of humanity in the job. Upstairs downstairs to the circle, Zhi-Qiang Mao did not find a staff of the recruitment of foreign trade clothing company. Do see the two national apparel companies in the recruitment, Zhi-Qiang Mao into the crowd to vote on the curriculum vitae of the two. The other looked at his curriculum vitae into a thick pile of biographical notes of the job, a lot of depressed mood Zhi-Qiang Mao. "It looks really want a change, did two years of foreign trade clothing, are all familiar with the business, also know quite a number of Azeri circle. All of a sudden want to change jobs, do not really know what to visit." Zhi-Qiang Mao to the rest of the curriculum vitae Were to vote for a food company, an engineering company and a chemical company. 11:00 Gap lunch interview candidates Almost 11 o'clock, Zhi-Qiang Mao left the recruitment site, outside of the stalls to buy a fruit pancake, read the newspaper while eating on the side of the job. Until 11:30, Zhi-Qiang Mao to the two domestic apparel company called recruiters. By lunch time the other side, Zhi-Qiang Mao with a company in which the recruits met the 15-minute chat. The other party to disclose information is not optimistic, I am afraid gone. "Zhi-Qiang Mao began to consider a career change." As long as there are now live on dry, not about wages, big deal to the hotel staff to do. "Zhi-Qiang Mao waved to reporters, he wanted to go home to see whether there are candidates on-line message back, but also to prepare his dinner. As far as talent exchange centers of the city's statistics show that in the third quarter of this year, into the recruitment of talent market has 12,000 units in the same period last year to reduce by 17%; provided 120,000 jobs have the same period last year dropped 36%; and job-seekers Up to 540,000 people, and the same period last year. After cooling of the sun to sprinkle Zhi-Qiang Mao's body, but he did not realize that this thread brought the warmth of the sun. In the Nov. 8 Road, Shandong, held job fairs, Zhi-Qiang Mao did not find a staff of the recruitment of foreign trade clothing company.
Sunday, November 2, 2008
Milk, citrus, eggs: the helpless innocent peasants in a really want to cry!
In 2008 we all remember the years, dairy farmers - orange farmers - to the egg farmers, the farmers suffered in 2008 in an unprecedented predicament, the first time against them despite its sympathy, we can hear each Days in the milk of dairy farmers do every day buried in the orange orange farmers in the day, the chicken slaughtering egg farmers are crying for it? I hope the whole of China can extend its helping hand to help them by voting these farmers are the mainstay of the Chinese, they do not, we have ample food and clothing would be no life. . . . . . Point in 2008 as soon as possible out of the farmers, agricultural products, look above the clouds dispersed and the rumors as soon as possible. From the beginning of 2006, agricultural products around the "rumors" Every year, 2006 is "poisonous watermelon" in 2007, Hainan is the "poison bananas", this year, Sichuan is also the "orange maggots." At present, for the time being put aside the "rumors" of genuine debate, the really good attention to these events were the most vulnerable people - the farmers. I have been pondering the question, the agricultural industry is very fragile and in the end how much risk? The risk of natural disasters, the risk of fluctuations in the market, there are food safety risk, the risk of rumors, which each risk is the conviction that it is the most vulnerable of our farmers, this appears to be the most powerless, helpless group. Sanlu milk powder incident, a group of black is the conscience of the brokers and companies in trouble, but has given way to dairy farmers to pay a heavy price; citrus maggots, continued to torment our orange farmers; in Hong Kong and the Mainland detected in a Brand eggs contain a large number of melamine, which you do not know how many farmers had to worry about this. Yesterday, a coincidence of opportunity, and I go to the countryside to investigate a number of leadership, is the work of others, let me direct the face of a lot of orange farmers. It is also a large rural orange, every household has a few acres, more than 10 mu, or even dozens of acres of citrus orchard, which has become the principal source of income for local farmers, has in the past few million on revenue, reaching more than 10 million . At that time, I rise to note that many farmers before the scattered piles of piles of oranges, and some seem to have been broken. In the past the busy scenes of orange transaction, it is so deserted. I am naturally an orange and farmers about the current market oranges, he became extremely sad and helpless look, "this is completely finished, really all over, what are the Sichuan 'maggots' rumors Has affected us (Hunan), and now nobody wanted is the orange, orange, the people whether you have maggots, anyway, do not buy that. "Then he told me," You may not believe that we now have orange or To 5 cents a pound, 5 cents, but still nobody wanted. Now look at the golden orange golden garden, has become a pile of waste that you are my blood, and sometimes, I really Like a cry! "He said this, I obviously felt tears in his eyes. At the grass-roots level and local government exchanges, they also worried that despite taking a lot of ways, but they can not get any results, according to their words, sometimes things in this market if there is no trust, Haonan really want to save. Some of them could not understand why the farmers are always injured? We put three rural issues are clearly and logically speaking, but who really care about, the real action. Let me be more of these on a deep understanding of the risks of agriculture, is clear evidence of agriculture is a fragile industry, is a farmer vulnerable groups. In fact, this series of rumors or behind the food crisis, there are more worthy of reflection. The first is to ensure open and transparent information, in particular to ensure the integrity of the information, to establish a strong mechanism to deal with the crisis. For example, citrus maggots, it is necessary to explicitly clear the rumors, but also clearly open around the truth, the whole are not into "maggots" This is not just the responsibility of the Government, should be the responsibility of the media. The second is to crack down on some of the middlemen and illegal enterprises, in order to help those in the food area of the law were to go bankrupt and lose everything, let them subject to heavy penalties, this can not be cut off non-food safety into their hands. They should be among the largest agricultural crisis perpetrators, milk powder inside doped melamine, to buy food, and rape inside Tukuai doped, sand, oil companies have a year to buy the rape also found a "watermelon" really They can be Xiangdechulai. The third is to support the establishment of mechanisms for risk. For agriculture, farmers, in addition to playing the role of the market, it is more important to also support the establishment of a mechanism of risk, be it natural disasters or market fluctuations, the food crisis, rumors of the crisis, and so on, should support the establishment of the mechanism is, of course, Should be for farmers. I hope our government, our media, our society, not just talking about farmers on the issue, rather than to genuine concern and support from every point drop for each start, we may be able to one day in January Years do not have to eat citrus, do not eat eggs, do not drink milk, but farmers are immeasurable suffering, they are not too innocent, too helpless, we should have this responsibility, the obligation to strive to do a good job.
AMERICA MUST LEAD A RESCUE OF EMERGING ECONOMIES
The global financial system as it is currently constituted is characterised by a pernicious asymmetry. The financial authorities of the developed countries are in charge and they will do whatever it takes to prevent the system from collapsing. They are, however, less concerned with the fate of countries at the periphery. As a result, the system provides less stability and protection for those countries than for the countries at the centre. This asymmetry – which is enshrined in the veto rights the US enjoys in the International Monetary Fund, explains why the US has been able to run up an ever-increasing current account deficit over the past quarter of a century. The so-called Washington consensus imposed strict market discipline on other countries but the US was exempt from it.
The emerging market crisis of 1997 devastated the periphery such as Indonesia, Brazil, Korea and Russia but left America unscathed. Subsequently, many peripheral countries followed sound macroeconomic policies, once again attracting large capital inflows, and in recent years have enjoyed fast economic growth. Then came the financial crisis, which originated in the US. Until recently peripheral countries such as Brazil remained largely unaffected; indeed, they benefited from the commodity boom. But after the bankruptcy of Lehman Brothers, the financial system suffered a temporary cardiac arrest and the authorities in the US and Europe resorted to desperate measures to resuscitate it. In effect, they resolved that no other big financial institution would be allowed to default and also they guaranteed depositors against losses. This had unintended adverse consequences for the peripheral countries and the authorities have been caught unawares. In recent days there has been a general flight for safety from the periphery back to the centre. Currencies have dropped against the dollar and the yen, some precipitously. Interest rates and credit default premiums have soared and stock markets crashed. Margin calls have proliferated and spread to stock markets in the US and Europe, raising the spectre of renewed panic.
The IMF is discussing a new credit facility for countries at the periphery, in contrast to the conditional credit lines that were never used because the conditions attached to them were too onerous. The new facility would carry no conditions and no stigma for countries following sound macroeconomic policies. In addition, the IMF stands ready to extend conditional credit to countries that are less well qualified. Iceland and Ukraine have already signed and Hungary is next.
The approach is right but it will be too little, too late. The maximum that could be drawn under this facility would be five times a country's quota. In the case of Brazil, for example, this would amount to $15bn, a pittance when compared with Brazil's own foreign currency reserves of more than $200bn. A much larger and more flexible package is needed to reassure markets. The central banks at the centre should open large swap lines with the central banks of qualifying countries at the periphery and countries with large foreign currency reserves, notably China, Japan, Abu Dhabi and Saudi Arabia, ought to put up a supplemental fund that could be dispersed more flexibly. There is also an urgent need for short-term and longer-term credit to enable countries with sound fiscal positions to engage in Keynesian counter-cyclical policies. Only by stimulating domestic demand can the spectre of a world-wide depression be removed.
Unfortunately the authorities are always lagging behind events; that is why the financial crisis is spinning out of control. Already it has enveloped the Gulf countries, and Saudi Arabia and Abu Dhabi may be too concerned with their own region to contribute to a global fund. It is time to start thinking about creating special drawing rights or some other form of international reserves on a large scale, but that is subject to American veto.
President George W. Bush has convened a G20 summit for November 15 but there is not much point in holding such a meeting unless the US is serious about supporting a global rescue effort. The US must show the way in protecting the peripheral countries against a storm that has originated in the US, if it does not want to forfeit its claim to the leadership position. Even if Mr Bush does not share this point of view, it is to be hoped the next president will – but by then the damage will be much greater.
The emerging market crisis of 1997 devastated the periphery such as Indonesia, Brazil, Korea and Russia but left America unscathed. Subsequently, many peripheral countries followed sound macroeconomic policies, once again attracting large capital inflows, and in recent years have enjoyed fast economic growth. Then came the financial crisis, which originated in the US. Until recently peripheral countries such as Brazil remained largely unaffected; indeed, they benefited from the commodity boom. But after the bankruptcy of Lehman Brothers, the financial system suffered a temporary cardiac arrest and the authorities in the US and Europe resorted to desperate measures to resuscitate it. In effect, they resolved that no other big financial institution would be allowed to default and also they guaranteed depositors against losses. This had unintended adverse consequences for the peripheral countries and the authorities have been caught unawares. In recent days there has been a general flight for safety from the periphery back to the centre. Currencies have dropped against the dollar and the yen, some precipitously. Interest rates and credit default premiums have soared and stock markets crashed. Margin calls have proliferated and spread to stock markets in the US and Europe, raising the spectre of renewed panic.
The IMF is discussing a new credit facility for countries at the periphery, in contrast to the conditional credit lines that were never used because the conditions attached to them were too onerous. The new facility would carry no conditions and no stigma for countries following sound macroeconomic policies. In addition, the IMF stands ready to extend conditional credit to countries that are less well qualified. Iceland and Ukraine have already signed and Hungary is next.
The approach is right but it will be too little, too late. The maximum that could be drawn under this facility would be five times a country's quota. In the case of Brazil, for example, this would amount to $15bn, a pittance when compared with Brazil's own foreign currency reserves of more than $200bn. A much larger and more flexible package is needed to reassure markets. The central banks at the centre should open large swap lines with the central banks of qualifying countries at the periphery and countries with large foreign currency reserves, notably China, Japan, Abu Dhabi and Saudi Arabia, ought to put up a supplemental fund that could be dispersed more flexibly. There is also an urgent need for short-term and longer-term credit to enable countries with sound fiscal positions to engage in Keynesian counter-cyclical policies. Only by stimulating domestic demand can the spectre of a world-wide depression be removed.
Unfortunately the authorities are always lagging behind events; that is why the financial crisis is spinning out of control. Already it has enveloped the Gulf countries, and Saudi Arabia and Abu Dhabi may be too concerned with their own region to contribute to a global fund. It is time to start thinking about creating special drawing rights or some other form of international reserves on a large scale, but that is subject to American veto.
President George W. Bush has convened a G20 summit for November 15 but there is not much point in holding such a meeting unless the US is serious about supporting a global rescue effort. The US must show the way in protecting the peripheral countries against a storm that has originated in the US, if it does not want to forfeit its claim to the leadership position. Even if Mr Bush does not share this point of view, it is to be hoped the next president will – but by then the damage will be much greater.
Monday, October 27, 2008
How do I cope with office life when there is no work?
The problem
I work in corporate finance and for the past four years routinely worked 14-hour days. Now work has dried up and we are all sitting around pretending to be busy and failing to drum up business. I am finding the boredom far more stressful than I ever found the work. I don't know how I should behave. I am tempted to take three-hour lunches with friends, then go home early to learn salsa dancing. But would that be begging to be first in line when the axe inevitably falls?
Investment banker, male, 27LUCY'S ANSWER
Being bored at work is painful; being bored as a prelude to being fired is torture.
You ask what the work etiquette is for this situation. You already know the answer: if everyone else is sitting at their desks bored witless, pretending to work, the etiquette demands that you do so too.
What is interesting in your case is that the penalties for ignoring etiquette are lower than normal. This period of boredom will end with the fall of the axe and you will probably be fired, but so, probably, will they. Unless your bank is even less wise than the competition, it will not decide who to keep on the basis of who was best at faking industriousness when there was nothing to do.
So some slacking is safe, but I don't think you can ignore the political game altogether. In normal times office politics is a part-time sport slotted in around work. But now that there is no work, your colleagues will be doing politics full-time. If I were you I would set out to play this game sparingly but efficiently. Be in the office long enough to find out what people are saying. Otherwise leave your jacket on the back of your chair and make it seem as if you are at meetings. Skive intelligently.
As you hate emptiness, I suggest you write a plan to get through the days. Allocate time for looking busy, time for picking up the gossip and time for your own affairs.
I should warn you of one thing. As you have always worked 14-hour days, you'll be a skiving virgin, and constitutionally may not be cut out for it. The first salsa lesson on office time, like the first few three-hour lunches, may give you a thrill but after that you may find they start to pall. But then you can always devote yourself to what you really should be doing now: finding a career with better prospects.
YOUR ADVICE
Fishing
Employment is not just about working; it is also about being available for work. Rather like fishing or fielding in the slips, you sometimes need to be there for a long time when nothing is happening in order to be there when something does happen. Stay at your desk and practise looking eager and intelligent.
Academic, male, 45
Shoe leather
For all your energy and brains, you are gloriously obtuse about new realities. You and your shoes are about to start shining a lot of marble floors looking for a job. The axe has already fallen. A clue: the political marketplace has replaced you with partially nationalised lenders in no mood blithely to leverage investment banks. You and your yum-yums blew it by staying at the greed circus way too long. Good luck.
Salsa dancing – as a hobby or career?
Lawyer, male, 67
Enjoy it
I was in this exact situation once. Instead of taking three-hour lunches and leaving early, I sat faithfully at my desk for six months, worried sick. The axe fell anyway.
Looking back on it, I felt stupid for not using the free time by relaxing more. And my presence caused my employer stress since it was a daily reminder that they couldn't keep me busy and were paying me to stare out of the window. So I say make yourself scarce – take the time off.
Lawyer, male
Soup line
How about thinking and acting on behalf of others for once? You could donate your labour hours to a local food bank. Who knows, you might be able to drum up new clients in the soup line.
Male, anon
I work in corporate finance and for the past four years routinely worked 14-hour days. Now work has dried up and we are all sitting around pretending to be busy and failing to drum up business. I am finding the boredom far more stressful than I ever found the work. I don't know how I should behave. I am tempted to take three-hour lunches with friends, then go home early to learn salsa dancing. But would that be begging to be first in line when the axe inevitably falls?
Investment banker, male, 27LUCY'S ANSWER
Being bored at work is painful; being bored as a prelude to being fired is torture.
You ask what the work etiquette is for this situation. You already know the answer: if everyone else is sitting at their desks bored witless, pretending to work, the etiquette demands that you do so too.
What is interesting in your case is that the penalties for ignoring etiquette are lower than normal. This period of boredom will end with the fall of the axe and you will probably be fired, but so, probably, will they. Unless your bank is even less wise than the competition, it will not decide who to keep on the basis of who was best at faking industriousness when there was nothing to do.
So some slacking is safe, but I don't think you can ignore the political game altogether. In normal times office politics is a part-time sport slotted in around work. But now that there is no work, your colleagues will be doing politics full-time. If I were you I would set out to play this game sparingly but efficiently. Be in the office long enough to find out what people are saying. Otherwise leave your jacket on the back of your chair and make it seem as if you are at meetings. Skive intelligently.
As you hate emptiness, I suggest you write a plan to get through the days. Allocate time for looking busy, time for picking up the gossip and time for your own affairs.
I should warn you of one thing. As you have always worked 14-hour days, you'll be a skiving virgin, and constitutionally may not be cut out for it. The first salsa lesson on office time, like the first few three-hour lunches, may give you a thrill but after that you may find they start to pall. But then you can always devote yourself to what you really should be doing now: finding a career with better prospects.
YOUR ADVICE
Fishing
Employment is not just about working; it is also about being available for work. Rather like fishing or fielding in the slips, you sometimes need to be there for a long time when nothing is happening in order to be there when something does happen. Stay at your desk and practise looking eager and intelligent.
Academic, male, 45
Shoe leather
For all your energy and brains, you are gloriously obtuse about new realities. You and your shoes are about to start shining a lot of marble floors looking for a job. The axe has already fallen. A clue: the political marketplace has replaced you with partially nationalised lenders in no mood blithely to leverage investment banks. You and your yum-yums blew it by staying at the greed circus way too long. Good luck.
Salsa dancing – as a hobby or career?
Lawyer, male, 67
Enjoy it
I was in this exact situation once. Instead of taking three-hour lunches and leaving early, I sat faithfully at my desk for six months, worried sick. The axe fell anyway.
Looking back on it, I felt stupid for not using the free time by relaxing more. And my presence caused my employer stress since it was a daily reminder that they couldn't keep me busy and were paying me to stare out of the window. So I say make yourself scarce – take the time off.
Lawyer, male
Soup line
How about thinking and acting on behalf of others for once? You could donate your labour hours to a local food bank. Who knows, you might be able to drum up new clients in the soup line.
Male, anon
Dalai Lama in Dharamsala, India, said negotiations with the Central Government to give up
Dalai Lama in April this year in Tokyo, Japan Narita news conference at the scene (data)
Chen Shui-bian and the Dalai Lama (data)Global Times reported on October 27 in the central government and the Dalai Lama in late October the upcoming new round of dialogue, the Dalai Lama in Dharamsala, India made a speech, claimed responsibility for negotiations with the Chinese central government, "loss of confidence।" The Chinese People's University Institute of International Relations, Professor Jin Canrong of the view that the Dalai Lama's position is a threat। His attempt to put pressure on the central and western influence and to change the current difficult situation. 26, the Associated Press reported that the Dalai Lama said that he "has been abandoned" because he has been "in good faith to find the middle way" to try to negotiate with the Chinese government to resolve the Tibet issue, but the Chinese government "has not always been a positive response," he said Will be invited to "6,000,000 of the Tibetan people" to decide the way forward. The Associated Press that the comments of the public statements made by the Dalai Lama's attitude was "unusual" and said the Dalai Lama on behalf of the end of this month the central government talks with China soon. Britain's BBC reported that the Dalai Lama's "middle line" is nothing new in Beijing, it seems, is still "seeking Tibetan independence." Tibetans in exile in some of the radicals to continue to put pressure on the Dalai Lama and asked him to give up the "middle line" and turned to violence to seek "independence" of the hard-line closer. India, "TV" on the Web site of the Dalai Lama's remarks were an interactive readers, many readers pointed out that the Dalai Lama was quite popularity in the West because of its long-standing "religious" and "non-violent" nature of the cause Many of sympathy. Once he decided to put aside all of this, along with those who turn to radical Tibetan exiles route of violence, in the West to create the halo of good will quickly fade. Renmin University of China Institute of International Relations, Professor Jin Canrong of the view that the Dalai Lama is currently the largest support from the West, who recently changed their attitude a bit. French TV recently broadcast a documentary entitled "The truth of the Dalai Lama", the film describes the Dalai Lama and France's closed-door talk about the "independence requirements", but told reporters to go out "This is entirely religious trip" to a class. The program broadcast on the Dalai Lama's supporters have a greater shock. Western support for his part in change. The Dalai Lama made clear in the hope that this momentum under control. Jin said that the Dalai Lama for talks with the central government did not grasp what this has to issue such a threat. The central government and the door to dialogue with the Dalai Lama is wide open. "3 • 14" event held prior to 6 negotiations after the two held talks. But the Dalai Lama to say, why does the time go to Western reporters, without directly with the central government say that? Jin said that the Dalai Lama to give up on the moderate line he did not have the benefits of the West will not go to support his radical line. His threat is a hollow threat.
Stimulating domestic demand "a rapid march": 2 trillion investment in the railway "to clear the way"
"If the 1998 Asian financial crisis the country is to take the road infrastructure investments stimulating domestic demand, and that this will be the main railway investment।" October 27, chief engineer of the Ministry of Railways Mr WU in an exclusive interview with this reporter's case Said. The judge on October 21 from the State Council executive meeting. At the meeting approved the package of infrastructure projects, the Ministry of Railways spokesman Wang Yong said, "The new railway project investment and stimulate economic growth is an important bright spot." According to Wang Yong, so far, the State Council approved railway investment has reached 2 trillion yuan, of which projects the size of the investment of more than 1.2 trillion. "With the Ministry of Railways and the governments around the strategic cooperation to jointly push forward the continuous development and construction, some of the figures will increase further." National Development and Reform Commission, former director of the Institute of Comprehensive Transportation, the incumbent party secretary Yan Dong, the country has been previously approved by the Ministry of Railways, "11th Five-Year" plan, for a total investment of 1.25 trillion, now comply with the new demands of railway construction, the size of funds Adjusted for 2,000,000,000,000. WU He explained that the country's railway investment, not only to accelerate the improvement of the railway network, but also on the iron and steel, cement, machinery, nonferrous metal, electrical and electronic industries play a powerful role in driving. In addition, "the railway construction will also provide direct more than 150 million jobs, this does not include employees of the railway system." Ho said WU. 1,250,000,000,000 change 2,000,000,000,000 In accordance with previously approved by the State Ministry of Railways, "11th Five-Year Plan", the state plans to invest between 2006-2010 in 1,250,000,000,000 yuan for railway infrastructure. Planning, "New Line," "Separation of passenger" and "transformation of line" for the main ideas put forward will be operating the railway mileage in 2005 from 70,000 km in 2010 to 90,000 km in 2010 to reach 100,000 kilometers. In 2010 before the 7000 km of new passenger line, and in 2020 built before 12,000 kilometers passenger line, the backbone to achieve the separation of passengers and cargo. However, from the United States to China, from the financial sector to the real economy, the economy of the roaring sound of winter is the more aggravated scratch. How to expand domestic demand and maintain steady economic growth has become the primary decision-makers faced with the problem. October 21, Chinese Premier Wen Jiabao chaired a State Council executive meeting, including the approval of the railways, highways, airports, nuclear power, pumped storage power station and other infrastructure construction projects, speed up decision-north water diversion project at the same time, the east - Progress of the construction phase of the project. This series of measures to stimulate the economy, investment in railway is considered to be stimulating domestic demand, "the locomotive." Dong Yan, said the move with the 1998 Asian financial crisis, the country start a large-scale highway construction in order to stimulate the economy fairly. It is reported that in 1998 in response to the Asian financial crisis, the state implemented a proactive fiscal policy, highway construction has entered a period of rapid growth, with an average annual traffic mileage of more than 4000 kilometers, with an average annual investment 140,000,000,000 yuan. At present, and, as a result of the uncertainty of future trends, the people have a purse Wu Jin, by the people to start spending money, basically unrealistic; in the field of infrastructure, real estate market is entering a new period of adjustment, people buy Housing sluggish consumption; railway is the people's livelihood strategies of the great works of funds through the financial input, you can better attract social capital to participate. The railway construction is also strong in the investment cycle. According to Wang Zhiguo, vice minister of Ministry of Railways previously disclosed to reporters, in 2003, start accumulated mileage of railway construction reached 12,902 kilometers, the size of the total investment reached 868,200,000,000 yuan, a new production line of 6210 kilometers. The reporter was a few days ago from the Ministry of Railways statistics indicate that in October this year, the Beijing-Shijiazhuang and Dan Wu passenger-only lanes, rail Yu-lan, your Canton Railway, the Southern Xinjiang Railway line cua key projects such as a large number of railway projects have started, only The eight railway projects with a total investment reached 405,180,000,000 yuan, equivalent to over the past four years, half the size of the investment. "So far, the national railway projects approved a total investment of over 2 trillion." WU He explained to reporters, referring to two trillion yuan into the railway is a long-term program of the size of the total investment. The initial investment in the development of the country for 1.25 trillion, but the economic situation, as well as the development of the local railway network of strong demand, making the railway and long-term planning has been adjusted, the total investment has risen. "There are probably over the next two years to add new projects, will certainly more than the original investment."
According to Dong Yan, said the latest approval of the 2 trillion of investment funds, will use a three-part, for part of the high-speed railway construction, for part of the inter-city railway, part of the rail lines for the improvement. 2 trillion of the spillover effects In addition to the regulation, 2 trillion of investment in rail plate is driven by a more ambitious market economy. Shenyin Wanguo infrastructure analyst Kim Yi-Yan believe that the bulk of China's railway is the most important mode of transport of goods, 56% of the coal, 84 percent of the oil, 24% of the iron and steel, 22% of food and 58% of cotton through railway transport. However, lack of investment caused by car to meet the requests of the national average rate of only 54%, nearly half of the market demand can be met. In particular, the sharp contradictions large coal in Shanxi Province, to meet the car was only 33%. On the other hand, investment in railway scale than other major transport infrastructure. He WU take the Beijing-Kowloon Railway to the reporter explained that the completion of the same traffic, the road to the railway than accounted for more than 38,100 hectares of land, energy and rail transport more than 1 million tons. "Therefore, comparison should be done, fast forward the building of rail transportation, railway construction." It is in view of the case, the state approved in the past two years a large number of railway construction projects. "We feel that the National Development and Reform Commission recently approved the project to speed up the pace a lot." Propaganda Department of the Ministry of Railways, a person laughs, the situation changes, it is fermented in the financial situation. State Information Center Fan, director of economic forecasting that the 2 trillion railway investment plan is not a new thing today, it is actually related to the "11th Five-Year Plan", "Shier Wu" period of railway construction plan, have become a hot topic at present Mainly in the current enthusiasm for social investment is not high, investment-led government will affect the companies in this sector. WU He has held the same view: Railway Investment obvious role in stimulating the economy, such as the railway infrastructure on the steel, cement there is a huge demand for railway rolling stock manufacturing requires not only a lot of steel, electrical and electronic industries will lead, rubber, glass, aluminum, etc. Non-ferrous industries. "What is more important is to solve the employment problem." WU He told reporters that only a Beijing-Shanghai high-speed rail, construction on the number of 10 million people, and the entire rail infrastructure up to 1,500,000 workers, "This does not include employees of the railway system." This reporter has learned that the main railway transportation industry workers of the total number of 2,080,000. Daobi 2 trillion capital investment and financing reform At the Ministry of Railways to invest 2 trillion off the plate after the sound of the wind, rail infrastructure stocks rose by a strong stimulus, Oct. 23-27, the Second Railway Bureau in the three trading days up 19%, while the China Iron Chinese construction China Railway is because the news was partially offset by exchange rate losses of the bad news, stock prices of basic steady. However, the market for the railway industry's favor at the same time still have misgivings about 2 trillion, after all, not a small sum, the Ministry of Railways on how to raise the money? including Ho, the Ministry of Railways have repeatedly told reporters that the issue is not money, profit-making railway project is not short of money. An anonymous people within the Ministry of Railways to the reporter explained that the railway is currently owned by a bank loan financing, bond financing, the railway construction funds, insurance funds financing, local government investment as well as some direct financing of the strategic investors. China Development Bank as promised, "11th Five-Year Plan" period to 250,000,000,000 yuan in railway construction to provide policy-oriented loans, bond financing in countries with the support of sustained growth in recent years, 2006 and 2007 respectively, the total amount of bonds the Ministry of Railways 293 Million and 400 million as of October 2008, the Ministry of Railways has issued bonds 110,000,000,000. Railway investment in railway construction funds as the main channel for the past two years, respectively contributed 44,600,000,000 and 48,400,000,000 yuan. Local government investment is converted into shares demolition land, in this way in high land prices in the settlement of the situation in railway construction funds for the construction of a large demand. Insurance Fund in the financing of the Beijing-Shanghai high-speed rail project on a breakthrough, the peace, such as social security insurance fund allowed to invest in the project at the annual Total 80,000,000,000 yuan. Kim Yi-yin of the view that the country will be strong support for the Ministry of Railways, through issuing bonds to fill the funding gap. Thus by 2010, rail investment gap is not clear. हो
wever, if demand for funds in accordance with the current structure, and 2010-2020 of Railway investment demand remained at about 346,000,000,000 yuan, the Ministry of Railways an annual increase of interest-bearing liabilities 150,000,000,000 yuan, the Ministry of Railways in 2010 the rate of assets and liabilities will be more than 55 %। The liabilities of the limited space available on a large scale.
People within the Ministry of Railways told reporters that the Ministry of Railways in fact only aware of the bank loans and bond financing and risk not enough, so in 2005 and 2006, the Ministry of Railways has issued a series of breakthrough combination of boxing financing problems. In July 2005, the Ministry of Railways issued a "support and encourage and guide non-public economy to participate in the implementation of the operation of railway construction"; in June 2006, the Ministry of Railways launched "" 11th Five-Year Plan "railway investment and financing system reform to promote the program." However, the railway investment and financing system reform has been a very difficult nut to crack, Kim Yi-Yan said, "These measures only heard thunder, no rain. Now, the funding gap Daobi railway investment and financing systems must be reformed." Directors observed that, in 2,000,000,000,000 funds "platter", is bound to come up with a part of the country, and the other part of the community through financing. He disclosed that the country approved the project, the National Development and Reform Commission has also requested detailed in the specific content of the project, to increase the project finance market, and railway investment and financing system reform. Dong, a number of previous businesses, banks have expressed concern about the railway project, but suffer from non-specific pattern of investment and financing through the construction of the total funds approved, the next step is to find the key to the specific direction of the railway in the area, so banks, some of the relevant Enterprises can better participate.
According to Dong Yan, said the latest approval of the 2 trillion of investment funds, will use a three-part, for part of the high-speed railway construction, for part of the inter-city railway, part of the rail lines for the improvement. 2 trillion of the spillover effects In addition to the regulation, 2 trillion of investment in rail plate is driven by a more ambitious market economy. Shenyin Wanguo infrastructure analyst Kim Yi-Yan believe that the bulk of China's railway is the most important mode of transport of goods, 56% of the coal, 84 percent of the oil, 24% of the iron and steel, 22% of food and 58% of cotton through railway transport. However, lack of investment caused by car to meet the requests of the national average rate of only 54%, nearly half of the market demand can be met. In particular, the sharp contradictions large coal in Shanxi Province, to meet the car was only 33%. On the other hand, investment in railway scale than other major transport infrastructure. He WU take the Beijing-Kowloon Railway to the reporter explained that the completion of the same traffic, the road to the railway than accounted for more than 38,100 hectares of land, energy and rail transport more than 1 million tons. "Therefore, comparison should be done, fast forward the building of rail transportation, railway construction." It is in view of the case, the state approved in the past two years a large number of railway construction projects. "We feel that the National Development and Reform Commission recently approved the project to speed up the pace a lot." Propaganda Department of the Ministry of Railways, a person laughs, the situation changes, it is fermented in the financial situation. State Information Center Fan, director of economic forecasting that the 2 trillion railway investment plan is not a new thing today, it is actually related to the "11th Five-Year Plan", "Shier Wu" period of railway construction plan, have become a hot topic at present Mainly in the current enthusiasm for social investment is not high, investment-led government will affect the companies in this sector. WU He has held the same view: Railway Investment obvious role in stimulating the economy, such as the railway infrastructure on the steel, cement there is a huge demand for railway rolling stock manufacturing requires not only a lot of steel, electrical and electronic industries will lead, rubber, glass, aluminum, etc. Non-ferrous industries. "What is more important is to solve the employment problem." WU He told reporters that only a Beijing-Shanghai high-speed rail, construction on the number of 10 million people, and the entire rail infrastructure up to 1,500,000 workers, "This does not include employees of the railway system." This reporter has learned that the main railway transportation industry workers of the total number of 2,080,000. Daobi 2 trillion capital investment and financing reform At the Ministry of Railways to invest 2 trillion off the plate after the sound of the wind, rail infrastructure stocks rose by a strong stimulus, Oct. 23-27, the Second Railway Bureau in the three trading days up 19%, while the China Iron Chinese construction China Railway is because the news was partially offset by exchange rate losses of the bad news, stock prices of basic steady. However, the market for the railway industry's favor at the same time still have misgivings about 2 trillion, after all, not a small sum, the Ministry of Railways on how to raise the money? including Ho, the Ministry of Railways have repeatedly told reporters that the issue is not money, profit-making railway project is not short of money. An anonymous people within the Ministry of Railways to the reporter explained that the railway is currently owned by a bank loan financing, bond financing, the railway construction funds, insurance funds financing, local government investment as well as some direct financing of the strategic investors. China Development Bank as promised, "11th Five-Year Plan" period to 250,000,000,000 yuan in railway construction to provide policy-oriented loans, bond financing in countries with the support of sustained growth in recent years, 2006 and 2007 respectively, the total amount of bonds the Ministry of Railways 293 Million and 400 million as of October 2008, the Ministry of Railways has issued bonds 110,000,000,000. Railway investment in railway construction funds as the main channel for the past two years, respectively contributed 44,600,000,000 and 48,400,000,000 yuan. Local government investment is converted into shares demolition land, in this way in high land prices in the settlement of the situation in railway construction funds for the construction of a large demand. Insurance Fund in the financing of the Beijing-Shanghai high-speed rail project on a breakthrough, the peace, such as social security insurance fund allowed to invest in the project at the annual Total 80,000,000,000 yuan. Kim Yi-yin of the view that the country will be strong support for the Ministry of Railways, through issuing bonds to fill the funding gap. Thus by 2010, rail investment gap is not clear. हो
wever, if demand for funds in accordance with the current structure, and 2010-2020 of Railway investment demand remained at about 346,000,000,000 yuan, the Ministry of Railways an annual increase of interest-bearing liabilities 150,000,000,000 yuan, the Ministry of Railways in 2010 the rate of assets and liabilities will be more than 55 %। The liabilities of the limited space available on a large scale.
People within the Ministry of Railways told reporters that the Ministry of Railways in fact only aware of the bank loans and bond financing and risk not enough, so in 2005 and 2006, the Ministry of Railways has issued a series of breakthrough combination of boxing financing problems. In July 2005, the Ministry of Railways issued a "support and encourage and guide non-public economy to participate in the implementation of the operation of railway construction"; in June 2006, the Ministry of Railways launched "" 11th Five-Year Plan "railway investment and financing system reform to promote the program." However, the railway investment and financing system reform has been a very difficult nut to crack, Kim Yi-Yan said, "These measures only heard thunder, no rain. Now, the funding gap Daobi railway investment and financing systems must be reformed." Directors observed that, in 2,000,000,000,000 funds "platter", is bound to come up with a part of the country, and the other part of the community through financing. He disclosed that the country approved the project, the National Development and Reform Commission has also requested detailed in the specific content of the project, to increase the project finance market, and railway investment and financing system reform. Dong, a number of previous businesses, banks have expressed concern about the railway project, but suffer from non-specific pattern of investment and financing through the construction of the total funds approved, the next step is to find the key to the specific direction of the railway in the area, so banks, some of the relevant Enterprises can better participate.
Subscribe to:
Posts (Atom)