Several days ago I wrote about the effect on credit(or economy)crisis on a Malaysian.

Now after a few reading I realize that the effect is much bigger.

From a newspaper I found that from January until now, about 28000 has lost jobs

That’s an average of 3000 workers laid off a month. Some business are reported have canceled contracts and reduced demand.

While other factories and employers are cutting down on expenditure.

I also found that Malaysia’s export are expected to decline into 2009.

The gloomy outlook indicate that demand in recession-hit economy would take a deeper-than-expected hit.

The decline in consumer spending has start to kick in with some big multinational company like Sony has exercise lay off on it manpower to cut rising cost.

The automotive industry also not spared, the big three automotive company in USA(Ford, GM and Chrysler) and has pleaded government to bail them out

or they will be the next “Lehmann Bank”. If one or all three company were force to go into bankrupt then it will be a disaster because the auto industry is a key element in the economy.

The interest rate cut still not helping as companies collapse on after another notably in USA.

It’s purely not my intention to scare anybody here but the effect from global economy slowdown has really makes me to think deep about future.

The financial crisis may impacts every country and individual, both rich and poor, in varying ways and degrees.

But I just hope we can survive or at least control the damage.