» 03/03/2009, 00.00
Exports collapsing, at least 10 million jobs at risk
In recent months, the country has suffered the effects of the global economic crisis to a much greater extent than predicted. Now there are questions about the consequences for the farming industry, and for the 220 million people already under the poverty level.
Japanese exports tumble, trade deficit grows
Exports to the United States and Europe in free fall, but also in Asia. Automobiles and electronics the sectors hardest hit, Toyota forecasts first loss in 71 years. The government approves new aid for families and businesses.
Indonesia rediscovers microbusiness as solution to unemployment
Exports are collapsing (-36% in January), and unemployment is on the rise from already high levels. With no better prospects, the unemployed are reinventing small businesses, like food carts. The government is financing projects to foster microbusiness. These also include handmade cigarettes.
10/03/2009 UNITED ARAB EMIRATES
Dubai: massive projects wind down, immigrants return home
The economic crisis is affecting the construction industry most of all. In 2009, 45% of the workers in the sector will lose their jobs. The Dubai Economic Council is earmarking 10 billion euros to confront the crisis. Hundreds of cars have been abandoned at the Dubai airport by foreigners fleeing from debts after losing their jobs.
World Bank: Chinese growth will fall to 1990 levels
The World Bank warns that the situation could become even worse. Beijing, preoccupied over rampant unemployment, is addressing the problem by stimulating domestic consumption. But meanwhile, it is unable to contain the growing social protests.
Xinhua says there will be more unemployment and social revolts in 2009
With the closing of factories, unemployment is on the rise for migrant workers. There is also unemployment among new graduates, and young people seeking their first job. It is estimated that in 2009, Beijing will have to find jobs for at least 33 million people.
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