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Canada News: 800 companies bank corrupt in a month, Justin Trudeau's country, which is hostile to India, is bankrupt!

Many countries of the world, including Britain, are currently in the grip of recession. Now the name of Canada can also be added to it. Many small companies in the country are in a bad condition. The situation is such that almost 800 companies have filed for bankruptcy in the month of January itself. The question is, is Canada headed for recession?
3 Month ago

Many countries of the world, including Britain, are currently in the grip of recession. Japan narrowly escaped this, but now Canada is in danger of slipping into recession. The number of companies filing for bankruptcy in the country has increased rapidly. More than 800 companies filed for bankruptcy in January alone. Earlier, bankruptcy filings in the country increased by around 40 percent in 2023.

The number of companies currently filing for bankruptcy is the highest in 13 years. During the Corona period, companies were given an interest-free loan of $45,000, the repayment deadline of which ended in January. Small firms account for about 33 percent of Canada's GDP. The question is, is Canada headed for recession?

According to Canadian government statistics, the country's economy is strong. But smaller companies and many consumers are struggling. Canada's economy is expected to grow 0.3 percent in December. Thus, there is a possibility of 1.2 percent growth in the fourth quarter. In the third quarter, the country's GDP declined by 1.1 percent. A decline in revenue for two consecutive quarters is called a recession.

Seen this way, Canada has escaped the recession for now. But as 800 companies filed for bankruptcy one after the other in January, fears of a recession have once again begun to rear their head.

Khalistan had enmity with India for terrorism

Canadian President Justin Trudeau had antagonized India last year. Trudeau accused India of involvement in the killing of Khalistan terrorist Hardeep Singh Nijjar. After this, the tension between the two countries increased a lot. Both countries expelled each other's top diplomats.

The dispute between the two countries started at the G-20 conference in New Delhi in September. Prime Minister Narendra Modi and Trudeau met during this conference. In which Modi asked Trudeau to take adequate steps to stop Khalista activities in Canada.

Trudeau stayed in India for two days after the G-20. Due to a technical fault in the plane, it had to stop in India. After his return to Canada, he was much disgraced. Trudeau looked aggressive as soon as he returned to his country. He accused India of interfering in Canada's domestic politics.

Trudeau also raised the issue of the killing of Khalistan terrorist Hardeep Singh Nijjar and said that Hardeep Singh Nijjar was a Canadian citizen and was killed by India. After this, the dispute between the two countries increased a lot.

How many countries are in recession?

Currently, 8 countries of the world including Britain are stuck in recession. In addition to Britain, they include Denmark, Estonia, Finland, Luxembourg, Moldova, Peru and Ireland. Interestingly, six of these countries are from Europe. There is no country in Africa and North America in this list.

Japan has narrowly escaped recession. Many other countries are also at risk of recession. This includes Germany. Europe's largest economy is struggling on many fronts. The situation in China is also getting worse. America's debt has also continued to rise and has reached more than 125 percent of GDP.

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