Global Financial Crisis

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Impact on Everyday Life

Fewer expats rent high-end apartments in SH

Many foreign companies are cutting housing packages amid the financial crisis, which have led to fewer expats renting high-end apartments in Shanghai.

Rich get thriftier as fortunes shrink

Faced with a sharp decline in their net worth, extravagant Chinese millionaires are tightening their belts, too. Even the Cartier remains a Cartier.

Graduates feature: Become your own boss

Given the spreading global financial crisis, finding a job is harder than before. More and more students are thinking about starting own business.

Tough Christmas for retailers

With just one day left until Christmas, shoppers around the world are gearing up to buy heavily discounted last-minute gifts.

US housing market in economic recession

As the US economy goes into recession Americans are finding it´s difficult to buy a house. Real estate agents are having a tough time.

House buyers seek bargains abroad

About 300 Chinese have registered for a 10-day house-buying trip organized by Soufun.com, one of the largest real estate portals in China.

Eat, drink and be merry

As the old saying goes "Eat, drink and be merry". But will the global financial crisis put a damper on the luxury food market over the holiday period?

More window shoppers than buyers

A world speeding into recession can expect little solace from Chinese consumers, with the country´s furniture stores, car showrooms and malls busier with window shoppers than buyers.

Migrant workers take new paths in face of economic crisis

Coping with the global financial crisis, the government has tried to protect the interests of migrant workers.

Overseas Chinese students head home for work

With unemployment on the rise in the United States and Europe, many overseas Chinese students are heading home to find work.

Financial storm affects tourism

As the financial crisis shrinks people´s wallets, the number of in-bound tourists to China has begun to shrink as well.

White collar workers feel pressure amid crisis

White collar workers at Chinese branches of many multinational companies are now facing increased pressures and reduced salaries.

Luxury goods see a tough winter ahead

The spreading of the financial problems has hit consumer confidence, leaving the luxury industry another victim of the ebbing tide.

Consumer caution dents market

The global financial crisis has dampened the confidence of Chinese consumers who are trying to figure out what impact it will have on domestic jobs and exports.

New York City may lose 165,000 jobs

New York City may lose 165,000 jobs, including 35,000 in the financial industry, as the impact of the credit crisis spreads throughout the economy.