Stanley's blog

Happy New Year!

he coming year will be an extremely difficult one for all of us.

There is no consensus as to the length and depth of the recession and no effective international economic and monetary mechanism to cope with the situation. Its effects are magnified by the uncertainties of today’s world. Economic and political doctrines have been stood on their head.

Economists may argue about whether we are theoretically in recession or depression, but there is no doubt that we are already in psychological depression.

2008 has seen the ‘devaluation of money’ – at its worst in the Bernard Madoff fraud. Hopefully, we have learned the moral lesson that money must be servant and not master.

Despite some initial reservations in China, one piece of good news is the election of Barack Obama. Will his “audacity of hope” – the reverse side of Franklin Roosevelt’s “there is nothing to fear but fear itself” – lead us out of depression? Returning to a world of hope from a world of fear will require deep commitment and personal sacrifice.

It is to be hoped that Ox people will set an example. Pragmatic and down-to-earth, they are motivated to work hard and have no respect for lazy or careless people. The most reliable and diligent Oxen belong to the earth collection of Oxen. Other people tend to look up to Earth Oxen because of their reliability, sincerity and their modest ambitions.

It is essential that the PRC, EU and US play leadership roles in seeking to create a harmonious & participatory society, globally as well as nationally.

Today’s main problems are world problems: from AIDS to terrorism, from climate change to water, from poverty eradication to nuclear proliferation. They can only be solved within a multilateral framework.

I wish you and your family a Happy, Healthy & Successful New Year.

Stan-li Stanley Crossick

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