In addition to the oil price and Toronto Stock Exchange plunging from its high of 15700 points, now with the surprise rate cut by the Bank of Canada, the CAD dollar is taking a hit and along with that the Canadian Bond yields are going down too….Ouch.
The oil plunge will cause significant problems in western Canada, particularly Alberta which is now seeing huge layoffs in the oil fields and that will have ripple effects to be felt within 6 months.
It is inevitable, that a quality , 5 star rating crash test car will be eventually built by a Chinese brand.
It is already being sold in Europe, and in 2016 it will be sold in the United Kingdom and soon maybe in 5 years time, it might sold in the U.S and Canada.
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