Fewer places for foreign talents...

As we all know, the financial crisis is still ongoing. It is a difficult situation for almost every country in this planet earth. Firms were losing money. Demand is declining. Export is declining. Unemployment rate is rising. Social unrest is appearing. Almost all bad economics events you could ever imagine is happening these days. But do not worry, it will not be as bad as 1929. The structures of the market are fundamentally stronger. The machine is better now. We just need countries who could lead by example and raising the market confidence from the dead. Once the confidence is back, the machine will start working normally. But bear in mind, it takes time (by beginning of 2010?). There is no instantaneous thing in this world, even instant noodles is not instantaneous.

Ok, now go to the topic. Yesterday, news said that HK government will create a subsidy scheme for companies which employs local graduates. It was said that for every worker employed, the firm will receive HKD 2,000 per month. This policy is to keep unemployment rate controllable. By May, there will be many students graduating from universities. And these young and fresh talents need job. At the current moment, these local talents are somehow having open competition with foreign talents. Having a competition in normal/harvest time is fine. But not in the dry season. Yes, the current season is dry for employment. The outlook is very gloom. Many firms are postponing the recruitment until the sky looks brighter. University Spokesman even urged graduates to lower their salary expectations by 20%.

This policy is implemented to protect HK citizens, which is the right thing to be done by the government. And it means fewer places for foreign talents...

Another story of economic crises...