
Every other week, we release 5 Minutes for Business, a publication written by Hendrik Brakel, our Senior Director of Economic, Financial and Tax Policy. In these publications, Hendrik briefly describes current issues that affect the Canadian economy and provides insight on what it will mean for Canadians today and the future. In this week’s edition, he looks at how the international economy will affect Canada.
Greece is once again at the precipice, insolvent and in need of another €85 billion to stave off collapse and recapitalize its shattered banks. At the same time, China’s stock market is in a 1929-style meltdown. Either one of these events would be a big shock to the global economy, but to have both at the same time is an economic earthquake.