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21 Sep, 7 tweets, 4 min read
Evergrande, China’s second-largest property developer, is on the brink of collapse.

Mounting problems within the property giant are rattling global financial markets with investors worried about the potential for a reprise of the 2008 financial crisis.

tgam.ca/evergrande-edg…
Evergrande Group, founded in 1996, is one of China’s biggest builders of apartments, office towers and shopping malls and one of its biggest private sector conglomerates.

tgam.ca/evergrande-glo…
The sprawling corporate with hundreds of development projects under way across China owes the equivalent of more than US$300-billion – an amount equal to roughly 2% of Chinese GDP.

tgam.ca/evergrande-glo…
On Monday, global markets swooned as Evergrande’s problems came into sharp focus.

The benchmark S&P 500 index of large U.S. companies lost 1.70%. In Toronto, the S&P/TSX Composite slid 1.64%.

tgam.ca/evergrande-glo…
The disturbing parallel on many minds is the collapse of the U.S. investment bank Lehman Brothers.

When Lehman Brothers filed for bankruptcy on Sept. 15, 2008, the global financial system froze and stock markets plunged.

tgam.ca/evergrande-glo…
Will China step in to avoid a ‘Lehman moment’ with Evergrande? Most investors are looking to the Chinese government for succour, hoping Beijing will deem the property giant too big to fail and step in to keep it afloat.

tgam.ca/evergrande-edg…
Failure to do so, some warn, would lead to a knock-on effect that could bring down the country’s entire real estate market.

tgam.ca/evergrande-edg…

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More from @globeandmail

The Globe and Mail Profile picture
22 Sep
U.S. authorities are pledging to investigate after video circulated of border agents chasing Haitian migrants with horses.

tgam.ca/haitian-migran…
Images of a Border Patrol chasing migrants — and grabbing one by the shirt — prompted widespread anger, including from Homeland Security Secretary Alejandro Mayorkas, who, after downplaying what took place, said he was “horrified” by what he had seen.

tgam.ca/haitian-migran…
In the images captured by multiple news organizations, a Border Patrol agent twirls a long cord as he pivots his horse to block the advance of migrants out of the river waters.

tgam.ca/haitian-migran…
Read 6 tweets
The Globe and Mail Profile picture
22 Sep
Doctors are seeing an uptick in medical exemption requests as #COVID_19 vaccine mandates sweep across the country, but health officials warn that very few patients will qualify.

tgam.ca/3zuN8Xy
Instead, some doctors see it as an opportunity to address patients’ concerns with immunization and explain the benefits of getting their shots, says Dr. Katharine Smart, president of the @CMA_Docs.

tgam.ca/3zuN8Xy Image
“Many people with chronic health problems that may have perceived that as a reason not to be vaccinated are actually the very people we want to have vaccinated because they’re at much higher risk of a bad outcome from COVID,” Dr. Smart said.

tgam.ca/3zuN8Xy
Read 5 tweets
The Globe and Mail Profile picture
22 Sep
Voters turned up at the ballot box at the lowest rate in more than a decade to participate in #elxn44vote, according to preliminary data from Elections Canada.

Across the country, turnout was at least 59 per cent.

tgam.ca/elxn-trunout
That 59 per cent turnout figure will change as @ElectionsCan_E verifies roughly a million mail-in ballots.

The agency will also be counting ballots by those who were not registered but showed up at a polling station. Both those totals are not yet known.
tgam.ca/elxn-trunout Image
Turnout in 2021 was lower than the previous two elections:

🗳️ 2019: 67% of registered voters cast a ballot;
🗳️ 2015: 68.3% of registered voters turned out at the polls.

tgam.ca/elxn-trunout
Read 7 tweets
The Globe and Mail Profile picture
21 Sep
Prime Minister Justin Trudeau’s re-elected minority government will face calls from the NDP for new taxes on the “ultra-rich” and calls from the Bloc Québécois for billions in new spending on health and seniors.

tgam.ca/bloc-ndp-deman…
But both Bloc Leader Yves-François Blanchet and NDP Leader Jagmeet Singh, who Mr. Trudeau will need to turn to for support in the House of Commons, are pledging to make the new Parliament work.

tgam.ca/bloc-ndp-deman…
The Bloc will push the demand from Quebec and other provinces for a major increase in federal health transfers, and wants changes to the Liberal government’s plan to boost Old Age Security benefits by 10 per cent, starting in July, 2022.

tgam.ca/bloc-ndp-deman…
Read 6 tweets
The Globe and Mail Profile picture
21 Sep
The same old Liberals will form the next government – but with a new agenda of measures that affects your personal finances if you’re a parent, a home buyer, a senior or a high earner, writes @rcarrick.

#Elxn44 #cdnpoli

tgam.ca/elxn-promises-…
Since affordability was an election theme for all parties, @rcarrick explains how the Liberal election promises will affect your finances – from new taxes to daycare to help for home buyers.

tgam.ca/elxn-promises-…
If you're a parent...🧑‍🍼

The most financially significant Liberal measure for families is $10-a-day child care, which is targeted to be in place in five years or less.

tgam.ca/elxn-promises-…
Read 6 tweets
The Globe and Mail Profile picture
21 Sep
Justin Trudeau and the Liberal Party won their third straight election, but failed to capture a majority mandate in Canada’s #Elxn44.

By early Tuesday morning, the results nearly mirrored the seat count when parliament was dissolved.

tgam.ca/decibel-elxn
So now the question that is being asked is: Was the campaign worth it?

Political columnist @JohnIbbitson and parliamentary reporter @kkirkup join #TheDecibel to break down what happened on election night and what it means for the country.

#Elxn44

tgam.ca/decibel-elxn
🔊 @kkirkup: Perhaps this election is going to go down as the Groundhog Day Election. Frankly, I think, there is a sentiment among a large number of Canadians that this election didn’t need to happen in the first place. And, yet, here we are.

playpodca.st/decibel
Read 7 tweets

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