Today the world seems flat. From Asia and Africa to Europe and the Americas, the people of the world are experiencing the traumatic effects of a global economic recession. This post is an attempt to describe the social impact of the great financial crisis as seen and felt by ordinary citizens around the world. The most commented signs of the crisis are the Wall Street crash and the collapsed housing industry in the United States. Without belittling these unfortunate economic disasters, we should also highlight other symbols of the crisis which people around the world are witnessing and experiencing everyday. For example, the economic downturn is forcing many South Koreans to change or abandon their travel plans. This has affected the tourism industry in Brunei which is a favorite destination of many South Koreans. Because of declining number of global tourists, Egypt’s tourism workers are complaining that their salaries are not given on time. Decreased consumer spending in the U.S. has also brought down the demand for garments made in Bangladesh. This has weakened the garments export industry of Bangladesh which employs a large number of the population. Bangladesh exports its products mainly to the U.S. and United Kingdom. In Russia, the financial crisis is signified by reduced government spending on health care. In Japan, the recession has become evident through reports showing reduced department store hours, slump in car sales, and increasing presence of jobless and homeless persons in temporary facilities, parks and even net cafes. Economic freeze became literal in Ukraine as hot water was shut off in much of Kyiv for a week last December because of unpaid water bills. Evie of Kiva Stories from the Field narrates the hardships endured by freezing Kyiv residents: “In sub-zero temperatures and bitter continental winter conditions, losing heat for a week is a hardship to pale at. People couldn’t even wash dishes, because the water was literally freezing out of the tap. Even now, three days after the heat was turned back on, radiators are merely lukewarm, homes are still freezing, and people are sick with colds and flu.” Hong Kong, a tower of strength in the global financial community, was shocked to learn that the stocks of HSBC Holding crashed to its lowest level since 1995. The shock was personified by a TV commentator who shed a tear while reporting the unbelievable HSBC plunge last week. This news has further weakened the confidence of Hong Kong residents in the economy. Those Were the days underscores the relevance of the HSBC debacle in Hong Kong: 說匯豐跌至如此水平，已不是個別企業升跌的問題了，那，已是維繫港人信心的問題：港人普遍相信、甚至迷信，全世界股票跌到七個一皮，匯豐也是不會大跌的，所以為何一個又一個關鍵價位，港人散戶總會組成血肉長城，想頂住匯豐股價！匯豐與廣大香港散戶，已是血脈相連！ Pessimism The financial crisis is generating a lot of anxiety. This is evident among a growing number of Japanese youth who have pensive questions about the troubled state of their country. In Hungary, some have noted the mood of pessimism prevailing in the country as shown by the following newspaper headlines in recent weeks: “Here are some Hungarian headlines of late: “The situation is worse than in October” (Index). “The German chancellor is reminded of the second world war” (Hírszerző). “Crisis: According to Bajnai amputation is necessary” (Hírszerző). “We are sitting on a timebomb of bloody social strife” (Hírszerző). “Hope is not in sight” (Heti Válasz).” Perhaps the feeling of pessimism is not limited in Hungary alone. Latvia Economy Watch makes this apt and smart observation about Europe’s financial woes coinciding with the launching of the Large Hadron Collider last year: With every passing day getting I find it more and more difficult to avoid associating all those worthy attempts to uncover that illusive Hick's Particle with the all-encompassing black hole into which our financial markets seem to be getting sucked with a disturbing velocity, despite the numerous efforts by the global financial authorities to invent some sort of monetary equivalent to “anti-matter”. In Kazakhstan blogger Pulemetchizza compares the crisis and a famous expression by writer Mikhail Bulgakov: Crisis is in the rest-rooms. Earlier we used to have high-quality two-layered toilet paper and towels in the rest-rooms. Now we have the cheapest toilet paper, and no towels available. Looks like in a couple of months we will just be cutting a newspaper. The global recession is forcing many people to behave in strange ways. In Latvia, four special guard dogs in a state prison were killed to save public funds. In prosperous Singapore a disgruntled senior citizen, angry at not receiving a red envelope containing US$135 traditionally given at Chinese New Year, set a lawmaker on fire.