Deleverage and avoid debt. Build a cash position to take advantage of opportunities as they present. Make sure your job is safe, by maintaining your skills and knowledge. Own income producing assets that augment your primary source of income. Develop a strong local community to support one another. Search for companies with negative enterprise value and invest, providing you don't think they will go to the wall. Invest in 'recession-proof' sectors such as consumer staples, alcohol, etc. Learn Chinese. Negotiate hard on large purchases.
