Economy

China’s Possible Economic Meltdown may Precipitate Something International Unforeseen

Published

1 year ago

September 6, 2023

The Pandemic has financially crippled China and the World Marketplace. Demands for many items previously manufactured are way down. Multiple manufacturers cannot bring their production fields to capacity, therefore mass layoffs and trickle-down recessional consequences spread throughout China and its economic allies.
Furthermore, debt resolutions may be on the horizon as the indebted Western Business Sector will have to repay its massive debt to the Chinese Banking system, which in turn will bring about similar scenarios with other lending nations like Saudi Arabia/Middle East Lenders. The most common emotion in these nation’s boardrooms may be fear of default by overburdened cashless economies.

What will China do to maintain its prestige and economic growth? There is one historically traditional method used by many of the world’s leading colonial and superpowers, one that is based upon destruction, not to build but to destroy. Simply War. War efforts generate employment, a gathering of society under one banner, one cause. War’s mythological power saves the wealth of the wealthy, and the careers of those who have mismanaged their nations’ economies, and generates massive profits for those who build armaments. The only question we can ask is where China will initiate this conflict. Remember the Russo-Ukrainian Conflict is still moving along sluggishly. China has its eye upon the prize, Taiwan, The Philippines, and perhaps part of Siberia. China can turn the tables for Russian efforts financially, militarily, and politically, and perhaps all they would want is a bit of Siberian Territory.

With the global inflating of all costs, and all products available to us, the public’s demand for many items has decreased drastically. China is in a difficult situation where many dictatorships find themselves. Always placating their party membership, and maintaining public employment just enough that a taste for Western privilege will control the Chinese public dissatisfaction with their political-social stagnation. A working person making reasonable wages is a happy worker indeed. Take that away, and China will have chaos, unrest, and possible socio-political change.

For those of you not friends of Communist China, fight back by not purchasing Chinese products. Simply bring the Chinese Economy to a standstill, and ultimately halt the spread of totalitarianism in our world.

Steven Kaszab
Bradford, Ontario
skaszab@yahoo.ca

Economy

S&P/TSX composite gains almost 100 points, U.S. stock markets also higher

Published

14 hours ago

September 13, 2024

Anne Joseph

TORONTO – Strength in the base metal and technology sectors helped Canada’s main stock index gain almost 100 points on Friday, while U.S. stock markets also climbed higher.

The S&P/TSX composite index closed up 93.51 points at 23,568.65.

In New York, the Dow Jones industrial average was up 297.01 points at 41,393.78. The S&P 500 index was up 30.26 points at 5,626.02, while the Nasdaq composite was up 114.30 points at 17,683.98.

The Canadian dollar traded for 73.61 cents US compared with 73.58 cents US on Thursday.

The October crude oil contract was down 32 cents at US$68.65 per barrel and the October natural gas contract was down five cents at US$2.31 per mmBTU.

The December gold contract was up US$30.10 at US$2,610.70 an ounce and the December copper contract was up four cents US$4.24 a pound.

This report by The Canadian Press was first published Sept. 13, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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Economy

Statistics Canada reports wholesale sales higher in July

Published

21 hours ago

September 13, 2024

Anne Joseph

OTTAWA – Statistics Canada says wholesale sales, excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain, rose 0.4 per cent to $82.7 billion in July.

The increase came as sales in the miscellaneous subsector gained three per cent to reach $10.5 billion in July, helped by strength in the agriculture supplies industry group, which rose 9.2 per cent.

The food, beverage and tobacco subsector added 1.7 per cent to total $15 billion in July.

The personal and household goods subsector fell 2.5 per cent to $12.1 billion.

In volume terms, overall wholesale sales rose 0.5 per cent in July.

Statistics Canada started including oilseed and grain as well as the petroleum and petroleum products subsector as part of wholesale trade last year, but is excluding the data from monthly analysis until there is enough historical data.

This report by The Canadian Press was first published Sept. 13, 2024.

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Economy

S&P/TSX composite up more than 150 points, U.S. stock markets mixed

Published

2 days ago

September 12, 2024

Anne Joseph

TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in the base metal and energy sectors, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 172.18 points at 23,383.35.

In New York, the Dow Jones industrial average was down 34.99 points at 40,826.72. The S&P 500 index was up 10.56 points at 5,564.69, while the Nasdaq composite was up 74.84 points at 17,470.37.

The Canadian dollar traded for 73.55 cents US compared with 73.59 cents US on Wednesday.

The October crude oil contract was up $2.00 at US$69.31 per barrel and the October natural gas contract was up five cents at US$2.32 per mmBTU.

The December gold contract was up US$40.00 at US$2,582.40 an ounce and the December copper contract was up six cents at US$4.20 a pound.

This report by The Canadian Press was first published Sept. 12, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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