A specter is haunting China – the specter of economic slowdown.

Forbes reported at the beginning of this year that the U.S. subprime and credit mess would likely have ramifications in China.

“It is useful to remember that this is the first time in the modern era in which China’s economy has become sufficiently involved (trade and capital flows) with other economies that troubles in the U.S., Europe and Japan would affect China,” Forbes noted. “Welcome, Beijing, to the rough-and-tumble of the globally competitive marketplace.”

The publication predicted GDP growth would slow from 11.4% in 2007 to the 8% to 9% range in 2008, the slowest rate in seven years.

The Economist Intelligence Unit predicts similarly: Real GDP growth would moderate to 9.8% in 2008 and 9% in 2009, mostly due to a weaker forecast for exports.

So far, this economic “doom and gloom” means that Chinese will have to make due with an annual 8 percent rise in real per-capita incomes, down from 10 percent previously.

Then again, one of these days China will experience a serious recession – defined by Wikipedia simply as “a significant decline in economic activity spread across the economy, lasting more than a few months.” When it does, there may be hell to pay.

“It would be so politically disastrous for China to drop below 5% or so growth for a full year that the economists at the IMF don’t want to even think about it,” BusinessWeek reports.

Let’s assume for the moment the Chinese government keeps its stranglehold. If you’re employed in China, what’s going to be your biggest worry? Probably keeping your job.

So it may be a little premature – but not by much – to consider how you’re going to go about protecting your job in a Chinese recession. And if you’re working for a global company in China, it may not be premature at all.

In this month’s issue, Harvard Business Review (HBR) suggested a number of excellent ways to survive in hard corporate times.

They include:

• Act like a survivor. In other words, be light and cheerful around other people. “Research shows that being fun to be around really matters,” HBR notes. Envision a positive future as well, which will help put you in the right frame of mind to eventually succeed. Be willing to wear more hats than one in tough times. If you have to, swallow your pride when it comes to setbacks – your commitment to the company more likely will be noted when it bounces back.
• Give your leaders hope. “There’s science to support the idea that showing empathy for people more powerful than you can be worthwhile,” HBR reports. “Recent mother-infant research shows that the more an infant smiles and interacts with the environment, the more active the caretaker becomes in the infant’s development and survival…[so] the better your relationship with your manager, the less likely you are to be cut, all things being equal.”
• Become a corporate citizen. Start going to voluntary meetings. Go to the company golf tournament, even if you don’t play. If the company has an idea to survive in tougher times, get on board even if it’s generally unpopular.
• Move onto Plan B. If you lose your job, and are unsure of what to do next, do some personal reflection. Revisit results from a Myers-Briggs test you might have taken or a 360-degree assessment. Read self-help books. Maybe even hire an executive coach. You might find, suddenly, that your layoff is just an opportunity to do what you really want.

You may have to adapt some of these pearls to be a little more China-specific.

In acting “like a survivor”, enthusiastic body language in the office, for instance, might not be effective. But sharing more snacks probably would be greeted warmly.

And if your boss is an unapproachable Maoist, instead of cozying up to him, why not give him hope by making the office a little more harmonious. A Chinese office can never have too many humidifiers, after all.

Make it a Hello Kitty one, and surely you’ve got extra brownie points toward keeping your job.

    Channel: Vital News     |