Germany Rejoices As Britain Hits The Shops, China Closes
“BRITAIN IN SALES FRENZY,” screams the Daily Express from its front page. We’re going crazy for shopping!
“Crowds flood highstreet sales,” screeches the Sun.
“Nine out of 10 shoppers plan to cut spending in New Year,” yells the Guardian’s man in the sandwich board on Oxford Street. “Repent!”
“Stores besieged as thousands cash in on credit crunch,” belches the Scotsman.
“Stampede for sales as shops fear worst”, thunders the Times.
“Germany rejoices,” says Der Bild. “Zousands of Britishers flock to shops to buy our dishvashers, toasters, beer, knives, cars, TVs and superior bathroom fittings.
There are equally joyous headline in Japan, where the leading newspapers are full of images and news of British shoppers pouncing on MP3 players, computers, cars, Hello Kitty pillow cases and robot dogs that roll over.
But are British shopper’s mad? Japanese and German goods will remain on the shelves but the news from China is grim. As the LA Times notes:
The financial meltdown that has thrown so many American families into crisis might be even worse on this side of the world. The precipitous drop in consumer demand has translated into a wave of factory closings that have spit millions of Chinese workers out into the ranks of the unemployed.
Unless Britishers can buy plastic Santas, singing fish, imitation trees, socks that play I’m Too Sexy and felt tip pens that run out after a minute, poisoned milk and flip flops that burn your feet down to the bone China’s economy is f*****.
Says a Bank of England expert:
“Don’t ask me.”
Posted: 27th, December 2008 | In: Money Comment (1) | TrackBack | Permalink
