Mei Guan Xi(没关系)

what is this guanxi you speak of?

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Trickle down effect of financial crisis

January 12th, 2009 · No Comments

The other day I asked a cabbie if they did better business in the summer or winter. He said the best is during the summer when it’s blazing hot. I replied, oh, so it’s not so great now? He said, yeah, and especially because of the financial crisis.

Huh?

He said a lot of firms are either no longer reimbursing for cab expenses or have capped a quota, so he’s feels a tangible impact on his business.

talk about the trickle down effect…

on another note, there seems to be a bit of reverse migration going on. Before a ton of people would venture to the 1st tier cites like shanghai, beijing, etc for work, but with manufacturing plants closing down, people are heading back. Unfortunately, there probably aren’t a ton of jobs back home either!

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Tags: Consumer

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