Chanthol, 23, Cambodia

Hello Youthink!
The world today has a financial crisis, but Cambodia is not much affected. However, some factories in Cambodia have little work for the workers, they can't work overtime, and earn less than before. I think the financial crisis will be solved. I'm sure great things will happen.

Serge Piabuo, 20, Cameroon

My country is gradually sinking into the global economic crisis, prices keep increasing, people lose their jobs. But I believe something can be done to reduce the effects of this economics crisis. I do believe it is high time funds are directed towards increasing domestic production, creation of rural-urban roads, reduction of business taxes, and incentives to keep the economy booming. This will increase employment, and cause a fall in prices. Let other African countries try this, things may be better, it is not too late Africa, we are not yet in the pool of the crisis.

Ekwuruke, 21, Nigeria

Since last year, the economies of many African countries have been affected in one way or another by the global financial crisis. Remittances to my family were swiftly reduced. We need adjustments that will work.

Iorbee, 20, Nigeria

I do not agree with my compatriot from Nigeria, Jamiu Adeniyi Adebisi, who thinks that only the rich are affected by the global financial crises in Nigeria, because if we look at the average Nigerian, who earns just over N5,000 ($34) per month, and compare the increased cost of commodities in the market occasioned by the crisis then you will agree with me that indeed not only the rich are feeling the crisis. Take, for example, the price of rice, a common staple food, which was about N3,000 in January 2008. It now sells for as high as N7,000.

Aram Barra, 23, Mexico

I completely agree with Jamiu. The crisis is new only to the upper class. The "underdogs" have been mired in it for a long time and things are as bad now as they have always been.

Jeremiah, 22, Tanzania

Hello, in Tanzania the situation was a little bit bad but now it is improved due to the practice of rural-urban linkage approach by our government. So I would like to recommend this kind of approach to the other African countries so as to have sustainable development …

Edgar, 21, Mexico

The global financial crisis has indeed ballooned into an all-encompassing crisis. I, like everyone else, am concerned about the situation relating to employment (which as a rule we all seek), since under current conditions, all job seekers have to either face unemployment or contend with deplorable conditions in a market, and we generally end up in some informal sector of the economy … However, what is more certain is that when we go out and face a job market (in search of a job), we are also perceived as any other merchandise and thus no longer possess physical and/or intellectual capacity, and the situation becomes more difficult for us because we are willing to accept even minimum wages in order to "survive," and not to live the way we want to. Now, whatever job we get will worsen our living conditions. What do we do in these circumstances if the unemployed and even employed individuals themselves can be part of a growing industrial reserve army… let's see how we can get out of this situation. The truth is that the expectations of finding a good job have hit rock bottom. Good luck to everyone …

Ruben Gòmez Pech, 21, Mexico

Hi. In Mexico, things are not as great as they are saying. The cost of goods in the basic basket has increased significantly because of inflation, we are earning less revenue for oil, and many businesses have closed down …

Uzma Arshad, 26, Pakistan

My country, Pakistan, has been affected by financial crisis in terms of increased rate of unemployment, no foreign direct investment, decreasing interest of businessman, higher food price inflation, imbalances in demand & supply, no entrepreneurship, and heavy taxes that put a burden on consumers. Although every nation is preparing policies for the financial crisis, Pakistan is a nation that has great security problems that have eaten & beaten the economy as a whole. All issues have been well addressed and multiple solutions are being examined to be adopted and executed but I believe that the solution of every problem is always in its origin. The full & fair allocation and distribution of resources, as well as peace are mandatory for the improvement of Pakistan's economy.

Tônety Santana, 25, Brazil

In my country we are definitely feeling the effects of the global crisis, although to a lesser degree than other countries in Latin America. Everyone here is talking about the crisis: the newspapers, the journalists, and obviously the people, who still don't understand it. Here in Brazil, a clear measure taken by our president was to lower the tariffs on some industrial products, such as the Tax on Industrialized Products (Impuesto sobre Productos Industrializados IPI) for motor vehicles and motorcycles, so that people will continue to buy those goods. What I often hear in Brazil is that we must not stop consuming, in other words, the mantra is CONSUME, CONSUME, CONSUME!

Reynaldo, 32, Mexico

In Mexico the crisis is having a tremendous impact on the tourism sector. I have a cousin in Playa del Carmen and she is suffering because they cut her husband's salary by 50 percent, and she was setting up a business to sell jellies, but she can't sell anymore, and owes money for supplies.

Francisco Manuel Silva Mallia, 35, Chile

Personally I feel that this global economic event has impacted everyone. In my own case, I see where the chance of getting a new job is very difficult primarily as a result of what is happening now. In Chile, the unemployment rate has increased significantly affecting mainly the young people who are trying to enter the labor market for the first time. I have noticed that job losses have been minimal, much less than that experienced in other parts of the world. I have also noted that getting money from the banks has become more complicated. Although a year ago the banks had no major problem in lending money to young people, now the situation is very different, since as a result of the precautions taken by the banks, access to loans has become more difficult, especially for us young people, despite the fact that the interest rate in my country is now extremely low.

Shifa Tauqir, 15, Canada

Hello, I find the topic of the current recession highly interesting as it affects everyone. Some lives may be changed drastically, others might change a little. My cousin recently lost his job due to the transfer of his bank department to India, where one can find cheap labor. My mom's department is going to close very soon too. Both of them are looking for jobs, but it is not that easy due to different criteria. It is difficult to find a job, especially at this time, which satisfy one's qualifications. However, the recession has not affected my life greatly. The laws in Canada make sure that everyone has the basic human necessities at all times. Luckily, in our two families (my family and my cousin's) someone else is working, which makes everyone feel safe. I am sure this is not the case in many other parts of the world. I have contacted my family in Pakistan and the one thing I hear from everyone is the rise in prices. It is difficult for a poor person to buy food even for one meal! The people who have jobs also find it hard to feed a family as the prices are increasing but not their salaries. Additionally, people are losing jobs, which means people who used to be far from poor now have less money and are slowly feeling the effects of poverty. Many of my family members are also very worried about their future as they do not have a job. The problems of jobs and prices are probably what causes outbreaks from the poor. In the end, the innocent have to pay the price of the anger of others. It hurts me to see people suffering like this. In my opinion, this crisis could have been prevented if our world leaders had made better choices. The wars among nations cause them to develop weapons, which they are tempted to use all the time because killing seems like an easier option then negotiating. As every dollar is supported by something of equal value, it can be said that by using these weapons, the leaders are turning the money to ashes by wasting it on weapons. By doing this, they have led us into the biggest economic crisis after the Great Depression of the 1930s. The Great Depression was caused after World War I, when the production and use of weapons was great. This shows that wars are a possible reason we are facing the recession today. Hopefully, the future will see better decision-making leaders as their moves have affected the entire world. My teacher said that this crisis is fake because the end of the recession has already been announced as June '09. I agree with him, as the Great Depression lasted for 10 years. How can this crisis pass in less than 2 years? Well, the only thing we can do now is hope and pray for someone who will lead us into a better future.

Jamiu Adeniyi Adebisi, Nigeria

May be you come to Nigeria … the financial crisis is only affecting the rich, the poor aren't feeling anything better than the worse they know.

Karl Elvis, 23, Gabon

Hello Youthink!

The impact of this scourge is huge. In fact, my friends and relatives no longer have jobs. And what's worse is that there is no alternative upstream or downstream, as offers from the SMEs, SMIs, and public institutions have plummeted exponentially.

Our parents no longer know to which saint they should devote themselves. In order to provide for their daily needs, middle-class families are selling their material possessions. The disadvantaged social groups are increasingly turning to illegal activities. For close to six months, some Libreville residents have been unable to pay their bills and fear losing electricity and water services at any time. University students are attending fewer classes and no longer take the time to conduct research for their tutorials or for personal needs. Many of them are now convinced that it would be better for them to lower their expectations if they hope to have the opportunity to improve their lot.

Furthermore, the public and the media are expressing only uncertainty and offering nothing but negative and alarming information. Phrases such as "it's really not easy" or "things are so-so" are commonly heard in the street. Taxi drivers, clandomen (unlicensed taxi drivers), and truck drivers continue to grumble and have even set rates and limited travel distances on the pretext that they have no money and fuel prices are high. To make money, some of my friends are giving private lessons to academically weak middle and high school students, while others are involved in relationship marketing for a number of companies. I am doing the same thing as my friends to save money, except that I am doing both! So, each night, I make sure that I "dream in color." However, pessimism is spreading and will be increasingly shared unless economists question their laws and the current economic system in order to find practical solutions that are specifically tailored to the situation and the daily needs of the population. The majority of the teachers are "speculating," while the others prefer to let the leaders speak.

Olivier, 21, Benin

The economic crisis, as it has been presented by the media, is having a greater impact on the major powers than on the developing countries. However, it is evident that it is having a negative impact on African populations. Indeed, a growing number of Africans, especially those in rural areas, are living below the poverty line because they are unable to secure adequate bank loans. It is therefore difficult for them to conduct income-generating activities and earn decent wages. Those who make every effort to improve their lot often have to contend with problems pertaining to the transportation and slump in sales of their products owing to price increases. In order to resolve this problem, consideration will have to be given to providing aid to these populations to curb the economic crisis.

Cécile, 43

I read with great interest your discussion of the issue of the economic crisis. Of course, all the issues you raised (increased cost of living, gloom, pessimism, etc.) are well known and no one will contradict these facts. Now, in an attempt to make a "positive" contribution, I would be inclined to believe (hope?) that this global economic and financial crisis can perhaps place international cooperation at the heart of the problem so that it will serve as a critical harbinger of international dynamism. We therefore need to become aware, individually and collectively, of what we can do to help our neighbor, because although this crisis is affecting our daily lives, it also has catastrophic ramifications for people who are already in dire straits. Nor must we "give up" even if the situation is difficult; for example, grants from Sidaction are up this year in spite of the crisis. New information and communication technologies, especially the Internet, allow each individual to become an international cooperation actor. The emergence of microcredit initiatives and sites shows that solutions exist and that people believe in this type of service.

Yéri, 29

My message is very simple. I think that human greed is the canker that is eating away at our world today. It is all about money and the accumulation of wealth which sadly is at times useless. The gap is widening between peoples and governments. The lure of money is leading more and more to a callous disregard for human life and the future of our planet looks increasingly gloomy. Investing in truly essential areas would help reduce global social injustice.

Jonas Koumba, President of the NGO AGROFED, Gabon

The global financial crisis is engendering international instability. In order to resolve this problem of instability, I propose that a meeting with all member states be organized, with a view to discussing problems stemming from the crisis and finding new globalization strategies.

Olama Mbarga Cyprien Joel, 27, Cameroon

Faced with the current financial crisis, shouldn't consideration be given to establishing an African economic network aimed at creating jobs for young people in Africa?

Wilfrid, 28, Haiti

I think that the current crisis can be resolved if all the actors in question show goodwill. I believe that the crisis originated with the policy applied by "big" countries to "small" countries, and pertains in particular to the liberalization of trade. There is in fact a power struggle between nations, which is beneficial to the major powers, given the weakness of the small countries in the area of competitiveness. There is no compliance with trade principles, that is, taking what we have been given and giving what we have. Instead, motivated by the lure of money, wealth is being amassed at the expense of the weakest.

Take the example of my country Haiti. In the past, rice production levels were sufficient to supply the nation. When the borders were opened in order to liberalize trade, we became victims of economic dumping, which led to a fall in the national production of rice and other staple foods. We then became dependent on food imports. This is what happened in several countries. That period was marked by an expansion in foreign trade for the major powers while the poor countries watched their foreign trade decline.

If we truly want to resolve the crisis, we must first of all be aware of its origins and intervene where necessary. Giving several thousand tons of rice to needy persons will not bring an end to the crisis. Once they have consumed everything, people will be hungry again. It is necessary, instead, to help them regain their food self-sufficiency. More attention and resources have to be devoted to the food cause. We also need to take a fresh look at economic liberalism and introduce a new global political and economic order that will take into account the spirit of mutual cooperation and not the lure of money.