With the Global Economy spiralling down, the global outlook in the near to medium term is not good. Japan, the second world biggest economy is having their GDP growth to be -3.3%!  The worst since World War II.  With the Swine Flu virus sweeping over Mexico, USA and Europe, there are signs of NEW DANGER to the Global Economy.
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We are already seeing unemployment rate in various countries escalating. Many working executives are constantly thinking about whether they will be the NEXT person receiving their PINK SLIP, ie Retrenchment Letter.
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Are you worried about your Job Security?
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When is this Financial Crisis going to end?
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What is going to happen after this Financial Crisis?
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I would like to give you my humble opinion and assessment on the current developments.
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Although no one could be sure when the Financial Crisis is going to end, I would dare say that we would see Economic Recovery starting from middle of next year, 2010. I don’t see how the recovery could take place this year. The whole world is still holding a TOXIC ASSETs of US$4 Trillion. This was recently reported in the paper. Frankly, I think this is an UNDERSTATEMENT or UNDER Estimation. My own assessment is that the Toxic Assets is between US$5 trillion and US$6 trillion! Once we find a solution to be able to remove this Toxic Assets, the Wall Street will surely REBOUND and we will definitely see a very STRONG BULL RUN again! This would bring forth the Recovery of the MAIN ECONOMY (Main Street).
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After all this is over, we will see a NEW ECONOMY. Things will NEVER be the SAME again. USA is likely to be more consicous about their CONSUMPTION HABITS and would SAVE more. Countries which depend heavily on EXPORT would find serious challenges. Competition will become much more keener and aggressive. There would be LESS tolerant towards Complacency and Inefficiency!Â
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So, what is expected of EMPLOYEES and WORKERS?
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We would need NEW Skillsets to survive.  If we are still complacent and still think that we could get by with the skills that we have today, we are making a very SERIOUS mistake! Peopel with this thinking are bound to become OBSOLETE in the NEW Economy.
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So, what NEW SKILLSETS do we need and get ourselves prepared?
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Please look out for my next BLOG Posting!
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Until then, ALL THE BEST!
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To Your Success!
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Thanks and Best Regards..
Jason Yee, Founder of AchieverLife
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