GLOBAL CRISIS: AM I AFFECTED?

Yes, I am affected with the current global crisis, because I and my friends work for a U.S. base company, and few of them already begun retrenching some of their employees or worse they already close their network here in the Philippines.

A simple indication that I am affected by the global crisis is whenever I buy new shirts from a famous U.K. based brand, if you notice; the famous foreign brands are on-sale everywhere, a perfect indication that they’re having a hard time to sale their products.

I think the Philippines is affected by the global crisis, why? Look the unemployment rate figures of last year, notice the Filipino OFW unemployment rate from Macau, and the closure of Intel Philippines Plant in Cavite.