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January 26, 2009
Posted: 445 GMT
BEIJING, China — It's meant to be China’s biggest party of the year, when everyone forgets their hardships (and there are plenty even when the economy is going gang busters) and celebrates. So as I was walking around the famous Drum and Bell Tower and the swanky bars of Houhai in Beijing, I couldn't help but feel it was all a little flat. In fact at times, it seemed as if there were more western tourists who were out and about letting off firecrackers than locals were seeing in the Lunar New Year.
A worker installs lanterns to celebrate the Chinese New Year in front of the Bird's Nest on January 24 in Beijing.
There's an old Chinese superstition, the way you spend the Lunar New Year will portend the rest of the year – if that’s the case then China looks to be in for a very quiet, almost miserable year. The bars were not full, the crowds just didn't appear, and the fireworks lasted barely 20 minutes. Compared to last year, it was a bit of a dud. Even on the first day of the Lunar New Year, barely any fireworks (the last two years the fireworks barely let up even during daylight hours, certainly the fire crackers could be heard from early morning to late, late at night and on it went for two weeks). Watch why the Year of the Ox is looking more bearish than bullish The men selling the fireworks on the street corners also seem to be hit by the economic downturn . . . not surprising when you realize a box of decent crackers can cost 800 RMB ($117.00). That's a lot especially when you might have just lost your job, or as is more likely to be the case, had a wage cut or overtime slashed. Chinese typically don’t like talking about tough times ahead, the concept of face means it's incredibly important for them to keep up appearances. This isn’t the U.S., where almost everyone is willing to open up and tell you practically everything about their financial pain, where there is a collective catharsis about sharing stories of hardship. It’s also tricky getting a read on China's economy by using government supplied statistics, but perhaps the lack of enthusiasm, people and fireworks, might be yet another anecdotal piece of the jig saw puzzle which confirms China is feeling the pinch much more than last quarter’s 6.8% GDP numbers would suggest. Tradition has it that the loud bangs on Lunar New Year are meant to scare away the evil spirits – this year, with fewer being able to afford the fireworks and crackers, perhaps the evil spirits might be staying around. Posted by: CNN Correspondent, John Vause |
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