The BBC interviewed two Chinese men who are “feeling the pressure” of the current economic crisis. The first is a geologist’s assistant from outside of Lhasa and the second is a shipping employee in Shenzhen.
Wang Hao, Geological Assistant, Tibet Autonomous Region
The shipping employee describes the economic pressure within the mining industry. With the decline in metal prices, he worries that investors in Europe and the United States will reduce their involvement in China. Although food and commodity prices have not increased dramatically, he is nervous about the future.
“They have no idea what is going on outside in the financial world, they have concerns such as the number of yaks they can raise this year. But when I go to the city, I hear people talking about the financial crisis. In Chengdu, I’ve heard that real-estate companies are downsizing and house prices are getting lower. We are getting very pessimistic; I think the government needs to introduce incentive policies and co-operate with US and European governments. Otherwise, the economy in China could slump.”
The second man, Xiong Ming, a shipping employee from Shenzen, works for Dragongate Logistics; he has seen the changes in their export-related business and is nervous about the “sense of crisis” that is constantly surrounding the employees. He compares business this year with last year, saying the output decreased by almost half. Xiong Ming discusses his salary:
“Personally, my salary and those of my colleagues has been reduced by a quarter or more. This time last year, I was earning between 10 and 20,000 RMB ($1,500 -$3,000) each month. Now I don’t even earn 10,000 RMB. Since the cost of living in Shezhen is relatively high, that affects my life a lot.”