Happy Chinese new Year!! or if your in Vietnam – Happy Tet!! Across Asia its time to ring in the year of the Chinese Earth Ox / the Vietnamese water buffalo and ring out the year of the Earth rat.  Its time to visit family and friends,  gorge on a sumptuous buffet, burst noisy fire crackers, wear new clothes and hang the character ‘fu’ symbolizing everlasting prosperity on your door.The year of the Ox reigns in positive attributes the global economy needs post the roller coaster ride we had with the rat. While financial guru’s don’t predict a complete economic recovery, the year promises not be a bull run right through.

While American and European economies are expected to tank during the first half of the year to the lowest levels since the post war era, economically coupled Asian economies are expected to sink too to a 5.5 percent growth. Economy psychics predict the collapse in commodity prices, drying-up of capital flows and the precipitous decline in world trade will be the major factors contributing to this fall.

According to the Chinese calender, the Ox characterizes prosperity through fortitude and hard work. They are logical, positive, methodical and intelligent beings who are firmly grounded in reality.  The element earth further accentuates the qualities of patience , practicality, hard work and stability this year. However the raging bull also tends to be inflexible, gullible, stubborn and materialistic.