Year of Ox! Happy Chinese and Korean New Year!

For Chinese around the world, tomorrow is Chinese New Year eve; it is also the Korean (a Hybrid between Chinese and Japanese) New Year. Chinese New Year is the biggest and most important festival in the Chinese society; basically it is a reunion of all the extended family members. Read more about Chinese New Year in Wikipedia.

This coming Sunday marks the beginning of the OX year and the end of the Rat year. With no sight of an end to the current global recession, things will definitely take a turn for the worst after the Chinese New Year. Prior to the Chinese new year celebration, families and friends will shop for new cloth, furnish their new home with new furniture before moving in, shops will refurbish in time for the celebration, tons and tons of food and beers are purchased for the celebration and many more, and with one fifth (China, Taiwan, Hong Kong, Macau, Singapore, Malaysian Chinese, and other overseas Chinese) of the world’s population being Chinese, the beginning of Chinese new year will marks the end of shopping, the end of cash flow, the end of major economy activities.

The flow-on effects as China’s markets seize up, causing a sharp fall in Australian exports markets such as Iron Ore and Education. Its a chain event.

My crystal ball told me the global economy outlook will take a turn from bad to worst. Good riddance Mister and Misses Architects, soon we’ll be building sand castle in the air. My advice, save some cash and invest in the stock market when the time is right, after all, this is the OX year and the Bull is with use right? Hopefully by the end of 2009 it will be a ‘Bullish’ year and not ‘Bearish’.

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