This is the time to engender a culture of increased productivity among your workers and set the stage for linking wage increases to productivity, when the recovery comes. If the current economic slowdown brings an end to the unsustainable real estate bubble and the splurge in motor car imports, it would have had a positive impact.
If it leads to better project selection, a drive for greater public sector efficiency and a platform for greater public/private sector collaboration, we would have learnt much from the crisis. Some people argue that we learnt nothing from the crisis of the 1980’s.