Canada Prepares for Trumps Comeback | Weekly Business Briefs w/ Martin Perdomo

Get ready to unravel the mysteries behind Tesla's resurgence in China, the ghost of stagflation haunting the U.S. economy, and the political chess game Canada's playing with a potential Trump encore. Our electrifying discussion with Canadian official Francois-Philippe Champagne promises key insights on how the Great White North is strategizing for the future, especially with climate change and electric vehicles at the forefront of international policies. 

This episode is a rollercoaster of economic twists and high-stakes diplomacy. We'll dissect Tesla's technological leaps in the Chinese market, decode the enigma of stagflation and its potential blow to your wallet, and strategize alongside Canada as they prepare for all possible outcomes of U.S. presidential roulette. With Champagne's expertise, we're connecting the dots between past and present, giving you a panoramic view of the business and political landscapes that could reshape our world. Tune in for a dynamic dialogue that's as informative as it is engaging.

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Transcript

Speaker 1: 0:29

Tesla made a big comeback after last week's fiasco in China, fear of stagflation is looming and Canada is getting ready for Donald Trump's comeback. These are the top three headlines in this week's weekly business brief. First up, good news for Tesla fans. Tesla's self-driving tech, called Full Self-Driving FSD, is one step closer to being launched in China. This is a big deal because China is the world's biggest market for electric cars. Even though FSD is still under development, meaning it's not perfect yet, it has some features that can help you drive, kind of like an autopilot for your car. Tesla had to work with the Chinese government to make sure their data security rules were followed. This basically means Tesla gets to collect information to improve FSD and make it even better. Tesla does have some competition from Chinese electric car companies like BYD, but this is a big win for Tesla overall. The company's share price closed up 15% as investors reacted to news surrounding Tesla CEO Elon Musk's recent visit to China. Good luck, smart play to our boy, the genius, elon Musk going to China taking care of business to make sure that your business stays afloat. That's what a good CEO does. Good CEO plays the part and make sure his company keeps going.

Speaker 1: 2:04

Next up imagine the economy is like your bank account. Normally the money in your account goes up a little bit every month because of economic growth, and prices for stuff stays about the same. It's called stable inflation. But lately things have gotten a little weird. Prices for stuff is going way up faster than usual because of high inflation, but your bank account isn't growing as fast. This situation is called stagflation, and it's kind of like an economic version of that awkward moment when you broke, but your credit card bill keeps going up.

Speaker 1: 2:43

Right now some people are worried that the US economy is headed for stagflation, just like it did in the 1970s. Back then, a bunch of factors like high oil prices and the government printing too much money made everything super expensive. But others are more chill about it. They say the job market is still going strong, which is basically like having a steady paycheck, so things aren't as bad as they could be. So what does this all mean for you? It's just a heads up. The economy might be a little bit rough in the coming months. Prices for things might keep going up and it might be harder to find a job. But it's not all doom and gloom. The job market is still good and there are things you can do to weather the storm, like cutting back on unnecessary spending and building up your emergency savings. That's always a good idea to do, by the way, and this week, on Trump Watch, canada is getting ready for the possibility of Donald Trump becoming the president again.

Speaker 1: 3:48

A Canadian official, francois-philippe Champagne, emphasizes the economic benefits of collaborations on issues like electric vehicles and critical minerals. Champagne also said it's important for the US and Canada to work together to address climate change, especially on things like reducing emissions and supporting legislation like the CHIPS Act. The CHIPS Act is a bill in the US that would give money to companies that make computer chips. That is important because computer chips are in a lot of things we use every day, from our phones to our laptops. He acknowledges and challenges the past Trump administration, but expresses confidence in Canada's ability to navigate relationships with the US. So good for him, because he's got a 50-50 chance that Trump will be the next president, as he has a 50-50 chance that the current administration will be again again in power. So this has been your weekly business brief. I'll see you guys next week, peace.