Chinese Credit Rating Agency Downgrades Canada’s Sovereign Credit Outlook

Slowing economy, real estate risk, and continued budget deficits among factors for downgrade.

Reuters is reporting that Dagong Global Credit Rating Co – one of China’s largest credit rating agencies – has downgraded Canada’s sovereign credit outlook to negative.

According to the report, Dagong made the decision “citing a slowdown in the Canadian economy and relatively high risks in its real estate market.”

Additionally, “A persistently high fiscal deficit was also one of the reasons for the downgrade.”

While a downgrade from one of the top US credit rating agencies would have more weight, the move by Dagong Global Credit Rating Co is a warning sign for our country, as confidence in a country’s credit often erodes slowly, and then all at once.

Another warning sign is the fact that billions of dollars in investment is fleeing Canada. While the government spouts talking points and pretends everything is going great, people are increasingly seeing Canada as a difficult place to invest in, especially with the US moving in a much more pro-prosperity direction.

It turns out that virtue-signalling, tax increases, and excessive bureaucratic regulations don’t help the economy grow, and the budget doesn’t balance itself. While the foolish politicians running the government may not be impacted by the damage they’re doing to our economy, more and more Canadians are feeling the negative consequences, and the world is starting to take notice.

Spencer Fernando

Photo – YouTube

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Ed R Peebles

THANKS JUSTIN THE TURD !

ED P.

Canucklen

The Clown Show knows no shame … will likely just keep showing off his narcissism and continue to be the laughing stock of the world … has not got a clue … period! And in the meantime Canada is being thrown (and spent) down the drain.

Dave Bainard

But, but, but Jr admires the Chinese.

Ivan Hawkes

Justin is clueless about being responsible with money. Being a “rich BOY” and never having to be concerned with finance he’s never had to face constraint. Justin sees himself as an elite, above and beyond the lowly people of Canada. Blowing billions and driving Canadians into deep debt is his obvious goal. What a disgusting example of inept irresponsible arrogance. Justin, you are a very poor actor and acting as though you are capable of any form of leadership is the worlds biggest joke. Do you know how despised you are? No, living in a self deceptive La La Land… Read more »

NancyW

Our globalist fanatical Lirberal/NDP separatist Kakistocracy is bringing us to collapse. As we owe so much to these foreign run globalist banks they do not wish to say our credit rating is negative, since it is them trying, with our false government they put in place trying to destroy our economy and us as a country. We can not afford all of the created refugees and illegal border jumpers, it is just another globalist smokescreen and will further collapse us and destroy our country. If Canadians do not pay attention to these matters and stop another foreign false Canadian kakistocracy… Read more »

Clive Edwards

While all you say above is true, Spencer, and Turdeau has put Canadians on the edge of the ledge, so to speak, there is another possibility that may be behind the downgrading. Turdeau has welcomed China in particular to invest in Canada and buy Canadian businesses and resources. Since other investors are withdrawing their investments in Canada and average Canadians don’t have enough after tax income to pay their mortgages and support their families, let alone invest in Canadian business which tend to be overly penalized by the Canadian taxman, by making more and cheaper Chinese investment opportunities available the… Read more »

Ray Decorby

Does anyone have information as to what is going on with AECOM’s potential sale to a Chinese Gov’t owned company, CCCI? Due to public backlash, in October, it apparently was delayed pending a review by the Liberal Gov’t and it’s compliance with the Canadian Investment Act. Might just be yet another strategic Canadian Co. slipping out of our control?