Keeping eastern promises

What effect has the global economic downturn had so far on south-east Asia? The region’s export-orientated economies, such as China (including Hong Kong), Japan, South Korea and Singapore, where I am based, have been hardest hit by the downturn. According to a recent report by the International Labour Organization, the number of people out of work in Asia is expected to jump by seven million this year, taking the total figure to almost 100 million. But this latest estimate from the ILO is its best-case scenario: the reality could be much worse.So far, however, the overall effects of the downturn have been less pronounced than in the UK and US, although the general HR issues are similar. Organisations here, too, are struggling to adjust their workforce and production in response to weakening demand, as well as to the general lack of financing. Managing costs and productivity are the priority for most organisations.