Marimaia
22-02-2006, 11:01
(OOC: Since I have a lot of ideas for stuff going on in the United Eastasian Republic, I'm going to have this as a news thread so other players can see what's happening. Some of this will be open knowledge for everyone, some of it will be kept from the outside world; secretive items will marked as such so that no-one claims to know something that they shouldn't, as all nations have their secrets.)
The Stock Crash (or, 'Damn Capitalists....')
The decline in the global economy was a source of great concern for the UER government; although they had no holdings in the BISE, the decline in other economies around the world inevitably caused problems. With trade revenues falling and economists predicting tough times ahead, the government enacted several measures.
Most unpopular was the reduction in worker profit-sharing. As all major industries were government-owned, the employees received bonuses from the profits made by their company after the government had extracted its share. These bonuses were to be temporarily reduced to help maintain government spending levels in essential areas. Military spending was also reduced; the Central Command and the Defence Ministry raised several objections as they had already submitted spending plans, but a personal intervention by Premier Zhao managed to quieten them for the time being. With small private businesses feeling the pinch, the government also began planning public works projects for workers who were laid off by struggling employers.
Premier Zhao made a televised address to the Eastasian people outlining the new measures being taken; he often referred to the great spirit of the Eastasian people, calling on them to ride out the problems and prove to the world that they were the greatest nation in the world. He reassured them that it was a temporary situation until the global economy got back on its feet, and hinted that the government had plans to help alleviate the cuts as soon as possible.
The Stock Crash (or, 'Damn Capitalists....')
The decline in the global economy was a source of great concern for the UER government; although they had no holdings in the BISE, the decline in other economies around the world inevitably caused problems. With trade revenues falling and economists predicting tough times ahead, the government enacted several measures.
Most unpopular was the reduction in worker profit-sharing. As all major industries were government-owned, the employees received bonuses from the profits made by their company after the government had extracted its share. These bonuses were to be temporarily reduced to help maintain government spending levels in essential areas. Military spending was also reduced; the Central Command and the Defence Ministry raised several objections as they had already submitted spending plans, but a personal intervention by Premier Zhao managed to quieten them for the time being. With small private businesses feeling the pinch, the government also began planning public works projects for workers who were laid off by struggling employers.
Premier Zhao made a televised address to the Eastasian people outlining the new measures being taken; he often referred to the great spirit of the Eastasian people, calling on them to ride out the problems and prove to the world that they were the greatest nation in the world. He reassured them that it was a temporary situation until the global economy got back on its feet, and hinted that the government had plans to help alleviate the cuts as soon as possible.