Britain can be proud of itself. Once again, it had already shown the world the way. In propelling Boris Johnson and Nigel Farage to triumph on 23 June, it demonstrated well before 8 November that Donald Trump was nothing new. In fact foolishness, vulgarity, inconsistency, and irresponsibility seem actually to be British inventions that have been painstakingly copied – once more – by the Americans. The age of such drab characters as Margaret Thatcher and David Cameron is over. No more, it appears, must we suffer leaders equipped with a brain and a sense of the common interest. The hour of the political clown has come.
The agency warning about a strong risk of Canadian housing market problems on the horizon has been expected. “CMHC has recently observed spillover effects from Vancouver and Toronto into nearby markets,” said CMHC chief executive officer Evan Siddall said in an opinion column in The Globe and Mail. These nearby housing market effects have radiated from Vancouver to the Fraser Valley and particularly the Okanagan. The effect of Vancouver sellers purchasing properties in desirable areas beyond Vancouver proper, and Asian buyers purchasing properties in the Okanagan have been noted, following the same pattern as in Vancouver.
The global agribusiness industry has recently seen a feeding frenzy of merger and acquisition activity. The announcement this week of Bayer’s proposed purchase of Monsanto after months of difficult negotiation is only one among other such industry consolidation deals. Dow Chemical and DuPont agreed last year to merge their crop science businesses, a deal currently under Justice Department review. Canadian fertilizer companies Potash Corp. and Agrium also agreed to merge this week. Finally, Swiss pesticide giant Syngenta AG agreed to a $43 billion takeover by China National Chemical Corp., a state-owned conglomerate that already sells generic agricultural chemicals. The bigger picture suggests severely reduced competition, higher prices for farmers and consumers, and increased global corporate control of crop seeds, particularly GMO’s. So what is going on here?
In the last three days, both The Globe & Mail and CBC News have published disturbing stories about the scale of the Chinese infiltration of the Vancouver housing market that go well beyond anything understood or encompassed by BC government or federal government action on the problem. The CBC reported that at least $13.5 Million in cash has been confiscated from Chinese recently entering Canada at Vancouver International Airport. The following story, reblogged from The Globe & Mail, tells a tale of fraud, manipulation, and tax evasion on a massive scale. It also tells an embarrassing tale of gross incompetence by Canadian authorities. All of this is consistent with other investigative journalists reports from the United States on other similar fraudulent Chinese real-estate activities. Some of these reports go back years. The original Mossack Fonseca “Panama Papers” revelations that indicated that many of the Chinese elite with family links to Li Xinping, and The People’s Liberation Army had Mossack Fonseca accounts should have been a red flag for Canada, but was not. We are living in an entirely new global economy manipulated by dark forces. What will we do now that Vancouver has been ruined for decades to come?
A mysterious Chinese company, Anbang Insurance Group has attracted the attention of The New York Times, The Wall Street Journal, Forbes, Fortune Magazine, and government authorities in the United States and other countries. The cause of the scrutiny has been Anbang’s sudden involvement in a number of massive multi-billion dollar real estate investments around the World. Formed in 2004, Anbang apparently holds assets worth at least $295 Billion, but a months-long investigation by the New York Times has revealed an extremely opaque structure, empty offices, obscure shareholders, and extensive political connections to the Chinese elite. Analysis of Anbang and its operations holds a potential lesson for Canadian authorities fretting over foreign buyers and skyrocketing real-estate prices.
The following infographic provides an excellent overview of the World’s Most Innovative Countries and the weighted criteria used to rank the top 10. Glaringly, Canada is completely absent from this list. It is worth noting that eight of the ten countries listed have much smaller populations than Canada. That said, I have little essential disagreement with this list. Investment in research & development, leading to commercial technology innovation is crucial to a country’s economic growth and competitiveness in productivity. Canada lags in every category.
Nobel Prize-winning economist Joseph Stiglitz has quit an advisory panel to Panama’s government set up after the Panama Papers scandal. Some 11.5m documents, leaked from Panama law firm Mossack Fonseca, revealed huge offshore tax evasion.The government appointed a panel to look at Panama’s financial practices. But Mr Stiglitz and and Swiss anti-corruption expert Mark Pieth, who also quit, said government interference in their work amounted to “censorship”. The seven-person panel also included Panamanian experts. “I thought the government was more committed, but obviously they’re not,” Mr Stiglitz told Reuters news agency. “It’s amazing how they tried to undermine us.”