15 PERCENT OF CANADA’S INDEPENDENT BUSINESSES POISED TO FAIL. Canada’s holiday shoppers plan to spend 66 percent of their gift dollars online and at big-box stores, according to a new survey by the Canadian Federation of Independent Business (CFIB). Many independent retailers are counting on strong holiday sales to lift them beyond the months of...
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AIRLINE TRAVEL DEEPLY DOWN
Attempting to make a terrible situation sound better, although passenger traffic is down 60 percent, last week, the Transportation Safety Administration reported more people are traveling this month than at any time since March. American and Southwest Airlines reports reservations are moving up for the Thanksgiving and December holiday seasons, leading Southwest to resume selling...
GLOBAL ECONOMIC TRENDS
PUBLIC DEBT TOPS 12 PERCENT OF WORLD GDP. The world’s governments have added about $11.7 trillion to their debt this year, equivalent to 12 percent of the global economic output, according to the International Monetary Fund (IMF) in its semiannual Fiscal Monitor report. The new debt will claim an additional 9 percent, on average, of...
GLOBAL ECONOMIC TRENDS
BILLIONAIRES GAINED WEALTH DURING THE ECONOMIC SHUTDOWN, During the pandemic, the wealth of the world’s billionaires grew by 13 percent to reach $10.2 trillion, topping $10 trillion for the first time, according to a study by UBS and accounting firm PwC. The previous record was $8.9 trillion at the end of 2019. Between 7 April...
WILL CHINA’S GOLDEN WEEK REAP GOLD?
China has entered its week-long shopping spree called “Golden Week,” and economists will be observing the willingness of shoppers to open their wallets after the country appears to have firm control over its virus outbreak. Beijing has not recorded a locally transmitted symptomatic case since 15 August, and The New York Times reported there seem...
LACK OF SKILLED LABOR THREATENS CHINA’S GROWTH
A growing proportion of Chinese workers lack the specialized abilities needed to power the country’s increasingly sophisticated economy. Up to 9 percent of China’s workers lost their jobs during the economic shutdown and have been unable to find new work because they lack marketable skills, according to a study by Peking University. The problem is...
EAT AT HOME: DON’T RISK YOUR LIFE!
No fun allowed. Stay home, don’t go out and eat. For those who swallow large portions of fast junk food, don’t worry, there’s a more deadly killer out there. According to a report issued last Thursday by the CDC, the most dangerous social activity in the age of COVID is… eating out at a restaurant!...
GLOBAL ECONOMIC TRENDS
CHOPPY RECOVERY AHEAD, CANADA’S CENTRAL BANKS WARNS. Canada’s economy will show a surge of strength in this quarter, but the ensuing recovery will be slow and unsteady, the nation’s central bank has warned. Household spending was stronger than expected over the summer, presaging a more robust third quarter than analysts had forecast as consumers vent...
GLOBAL ECONOMIC TRENDS
HALF OF CANADIANS ARE BROKE. Forty-nine percent of Canadians believe they are on the brink of insolvency, according to the latest MNP Consumer Debt Index published earlier this month. Since December, the number of Canadians worried about their debt level has jumped 10 points to 46 percent, the highest number since 2017 when the data...
CHINA: WE BROUGHT YOU COVID. WE’RE #1
Happy Chinese Lunar New Year 2020! That’s when China launched the COVID War. Remember the 24/7 news on how they were building hospitals in just weeks to handle the sweeping pandemic in the Wuhan province? Remember our 28 January cover of the Trends Journal? CORONAVIRUS: 106 DEAD IN CHINA – 1.4 BILLION STILL ALIVE. THE...
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