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Novel about Chinese rescuer of Jews raises questions about facts vs. fiction in Holocaust stories
TAIPEI (JTA) — Ho Feng-Shan, the Chinese diplomat stationed in Vienna who helped thousands of Jews escape from Europe during World War II, never met Adolf Eichmann.
But in “Night Angels,” a novel based on his life, Feng-Shan comes face to face with Eichmann several times — and his wife Grace’s Jewish tutor, Lola, tries to kill the architect of the Holocaust.
That detail is one of many that has spurred Ho Manli, Feng-Shan’s daughter, to speak out against “Night Angels,” the fourth novel by the Chinese-American author Weina Dai Randel. Manli says the book distorts elements of her father’s story, which was unknown before she spent decades documenting his heroic efforts to issue visas allowing Jews to escape to Shanghai.
“What I have found in doing this story is it’s very difficult to try to maintain the historical integrity of the facts,” Manli told the Jewish Telegraphic Agency. “Countless people … want to use this for their own means, whether it be commercial like this novelist, whether it be political, or whatever. So over the two decades that I have been doggedly trying to uncover more and more, I’ve been constantly fending off these sorts of opportunistic assaults.”
The dispute is casting a shadow over the novel, released this month, and reinvigorating longstanding debates over the importance of truth in historical fiction — particularly in stories about the Holocaust.
“Night Angels” follows Feng-Shan and his wife, Grace, as they risk their lives by issuing visas that allow thousands of Jews escape Germany and Austria to Shanghai. Grace, one of the novel’s narrators and main characters, is based on Feng-Shan’s real second wife with the same name who was no longer in Vienna after the Anschluss — Nazi Germany’s annexation of Austria in 1938, and the period in which the novel is set. By that time, Feng-Shan had already sent Grace away to Boston. She never witnessed Nazi rule or Feng-Shan’s efforts to save Jews, Manli writes.
Several other events in the book, including Grace’s friendship with a Jewish woman who attempts to assassinate Eichmann and her development of a morphine addiction, are fully fictional.
Manli first took aim at the book in a column last month in China Daily. The novel, she wrote, “exploits real names, real people, real events and places, in what is essentially a Holocaust-themed melodrama.”
“In online reviews, readers say that they are thrilled to learn of my father and this history — except of course, what they have learned is not really history, my father’s, or anyone else’s,” she wrote.
Randel and her publisher, Amazon Publishing, did not respond to multiple requests for comment.
Randel dedicated the novel to “Ho Feng-Shan, his family, and all the angels in Vienna and beyond.” The book includes a disclaimer disclosing that its contents are a work of fiction and a product of the author’s imagination.
But that’s not satisfactory to some readers, including Tina Kanagaratnam, co-founder of the heritage group Historic Shanghai, whose book group read a previous Randel story set in Shanghai.
“If you’re talking about a historical character, you have to get the history right. Otherwise, just create a fictional character,” Kanagaratnam told JTA. “This is written for people who don’t know the history, but as Manli said, that’s dangerous, because then that’s what they remember. That’s what they take away.”
Ho Monto, left, and Ho Manli stand in front of the Righteous Among the Nations wall at the Yad Vashem Holocaust memorial in Jerusalem, Jan. 23, 2001. (Isaac Harari/AFP via Getty Images)
“Night Angels” has accumulated thousands of positive reviews on Amazon and has been promoted by Jewish organizations across the country. On Wednesday, the Jewish Book Council, in collaboration with Tablet Magazine and the Jewish Museum in New York City, will hold an event with Randel and journalist Jonathan Freedland that will explore “fact, fiction, and the sometimes blurred line between them.”
Randel’s book adds to a long list of Holocaust stories occupying that blurry territory, dating from the genre’s early days. Many readers believed, for example, that “The Painted Bird,” the pivotal work of Holocaust fiction from the 1960s, was based on author Jerzy Koszinski’s experience during the Holocaust; it was not. Scholars and booksellers have long agonized over whether to call Elie Wiesel’s “Night” a memoir or a novel, and whether the distinction matters when it is taught in American classrooms.
The fight has extended to questions over who can tell which stories from Holocaust. In 2014, Haaretz journalist Judy Maltz filed a lawsuit against Penguin Canada and author Jenny Witterick alleging that Witterick’s novel, “My Mother’s Secret,” copied Maltz’s documentary film about her family’s rescue during World War II. The court ruled in favor of Witterick on the grounds that copyright protection does not apply to historical events.
“An author is only ever responsible to their own fiction. They have creative license. And fictionalization of other people against their will is part of the history of literature,” said Helen Finch, a professor at the University of Leeds who studies representations of the Holocaust in German literature. “But that doesn’t absolve the writer from criticism.”
Manli — a journalist who has worked for the Boston Globe and helped found the China Daily, a state-backed media outlet, in 1981 — has made it her mission to set the record straight on Feng-Shan’s story. She began researching her father after his death in 1997, while writing his obituary. One line in his memoir from 1990 that recalled “saving who knows how many Jews” piqued her interest and led to a 25-year quest to document the extent of what her father did during the war.
His story of defying both his own government and the government of Germany to write Shanghai visas for thousands of persecuted Jews had been previously unknown, even to the refugees themselves — most of whom never met Feng-Shan.
Manli’s research led to Feng-Shan’s recognition by Yad Vashem, Israel’s Holocaust museum and memorial authority, in 2000 as “Righteous Among the Nations,” an honor given to those who risked their own lives to help Jews during World War II. Since then, greater attention has been paid to his story, and memorials across the world, from Israel to China to Italy, bear his name today.
Manli said Randel reached out to her several times before her book was published but after it had already been written. According to Manli, Randel sought out her blessing on the book by phone and email, saying that “the Holocaust history and your father’s history is now being forgotten” and adding that she wanted to help spread that history. Manli, who is working on a book of her own about her father, said she refused to answer, “just from the tone of her letter and what she wanted.”
“I have been burned before by this,” Manli told JTA. “I knew immediately that this was not something that I wanted to participate in and certainly that I wasn’t going to endorse.”
In an email shared with JTA in response to Manli’s editorial, Randel wrote that she has “great respect for Dr. Ho Fenghan[sic] and his family. I’m surprised to hear such strong negative criticism. I’m puzzled to see my gesture of respect is viewed in such a hostile way. If Ms. Manli Ho wishes to speak to me, I’m here.”
Randel, according to a biography on her website, came to the United States from China at 24 and became “the first Asian American novelist who intertwined Chinese history with the Jewish diaspora in Shanghai during WWII.”
Her previous novel, “The Last Rose of Shanghai,” follows a Chinese woman who falls in love with a German Jewish refugee living in the Shanghai Ghetto, the restricted area in which over 20,000 displaced Jews lived during World War II, under brutal oversight by Japanese officials who occupied the area. In interviews before the book’s 2021 release, Randel recalled hearing about Jewish refugees while she was living near the district that housed the ghetto.
After moving to the United States, she married an American Jew and is raising her children with both cultures in Boston. She has said “The Last Rose of Shanghai” was inspired by her interest in the history she saw in Shanghai and a desire to pay homage to her Jewish side of the family.
“I think it’s apt to say the survival of Shanghai Jews is also a story of how we as different races and as human beings shine and triumph over war and adversity,” she said in a January 2022 interview with World Literature Today.
But other researchers and authors deeply familiar with Feng-Shan’s story and Jewish history in Shanghai told JTA that “The Last Rose of Shanghai” also contained historical inaccuracies, including misrepresentation of real people who appear as characters, such as Victor Sassoon, a Jewish businessman and member of the dynasty known as the “Rothschilds of the East,” and Laura Margolis, the first female Joint Distribution Committee representative.
The book also includes a character named Goya, described as “a shameless Jew … who somehow had won the Japanese’s trust.”
The Jewish character is based on the real Kanoh Ghoya, who was not Jewish, but a notoriously cruel Japanese officer who had dubbed himself “king of the Jews” and “was infamous for his inhumane treatment of ghetto inhabitants,” according to the USC Shoah Foundation.
According to Publisher’s Marketplace, “The Last Rose of Shanghai” was sold to Lake Union Publishing — an imprint of Amazon Publishing — in 2021 as half of a two-book deal worth between $100,000 and $250,000. It was a finalist for a Jewish National Book Award that year. (The Jewish Book Council, which confers those awards, did not respond to multiple requests for comments about the “Night Angels” event.)
Kanagaratnam said Historic Shanghai’s book group read “The Last Rose of Shanghai” in 2021 and hosted Randel for an event. The group was unsatisfied by Randel’s response when factual issues were brought to her attention, particularly the characterization of Ghoya as Jewish, Randel dismissed them, Kanagaratnam said.
Randel’s novel is only part of a growing consciousness among the general public of the Shanghai Jewish refugee story. In recent decades, especially following the normalization of Israel-China relations in 1992 and Feng-Shan’s recognition by Yad Vashem, both governments have promoted the history, sometimes distorting facts to push different narratives about their wartime past.
New books and other media adaptations about the Shanghai Jewish refugee story have proliferated, such as the musical “Shanghai Sonatas” (2022) and the novels “Someday We Will Fly” (2019),“The Lives Before Us” (2019), and “The World and All It Holds” (2023). Other films and books are forthcoming.
“The audience of people who are interested in, if you will, an ‘exotic’ Jewish story, I think has meant that we’re seeing more and more of these. Everyone’s heard the Holocaust story. But now here’s one in an exotic setting,” said Kanagaratnam. “I think authors need to take responsibility. But honestly, I also blame the publishing industry, because where are the fact-checkers? A lot of the stuff in this can be really easily googled.”
Finch said novels that are set during that period are “always a work of fiction about the present.”
“So the question is, why is this author writing this book now? What does that say about the current moment when she’s writing? And what is with Randel trying to reflect either consciously or unconsciously in contemporary politics as well?”
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The post Novel about Chinese rescuer of Jews raises questions about facts vs. fiction in Holocaust stories appeared first on Jewish Telegraphic Agency.
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Candace Owens Claims US ‘Being Held Hostage by Israel,’ Suggests Zionists Killed JFK
Political commentator Candace Owens claimed on Friday that the US is being held “hostage” by Israel and suggested that AIPAC, the foremost pro-Israel lobbying organization in the US, was behind the assassination of former US President John F. Kennedy.
“It seems like our country is being held hostage by Israel,” Owens, a right-wing provocateur, said during the opening segment of her YouTube show, where she interviewed far-left commentator Briahna Joy Gray.
“I’m going to get in so much trouble for that. I don’t care,” Owens lamented.
Gray, who was the guest for this episode, was recently fired from The Hill‘s TV show, Rising, after aggressively cutting off and rolling her eyes at the sister of an Israeli hostage who said that Hamas sexually assaulted women during the terror group’s Oct. 7 massacre across southern Israel and that people should believe those women. Gray, who claimed her firing was politically motivated, had repeatedly cast doubt on the sexual violence perpetrated against Israeli women during the Hamas-led onslaught.
However, Owens said that part of the reasons she was addressing the subject was that people were being fired because they were “not happy … when an innocent Palestinian kid dies” or for “critiquing a foreign nation.”
Also on Friday’s show, Owens claimed US Rep. Thomas Massie (R-KY) was “wading into some dangerous waters” when, during an interview with host Tucker Carlson, he spoke about how effective the American Israel Public Affairs Committee (AIPAC) is at lobbying members of Congress and suggested the group should have to register as a foreign agent that is acting on behalf of Israel.
The reason it was dangerous, Owens said, was because “we know there was once a president that wanted to make AIPAC register, and he ended up shot … so Thomas Massie better be careful.”
Owens was referencing the fact that Kennedy wanted the American Zionist Council, a lobby group, to register as a foreign agent. However, there is no evidence the group had anything to do with Kennedy’s assassination.
Owens and The Daily Wire, which was co-founded by conservative and Jewish political commentator Ben Shapiro, parted ways after Owens flirted with antisemitic conspiracy theories for a number of months, especially following the outbreak of the Israel-Hamas war.
“In all communities there are gangs. In the black community we’ve got the Bloods, we’ve got the Crips. Well, imagine if the Bloods and the Crips were doing horrific things, murdering people, controlling people with blackmail, and then every time a person spoke out about it, the Bloods and the Crips would call those people racist,” Owens said while still at The Daily Wire. “What if that is what is happening right now in Hollywood if there is just a very small ring of specific people who are using the fact that they are Jewish to shield themselves from any criticism. It’s food for thought, right? … this appears to be something that is quite sinister.”
Additionally, after getting into a spat with an outspoken and controversial rabbi, Shmuley Boteach, she said, “Are you going to kill me? Are you going to kill me, because I refuse to kowtow to you, and I think it’s weird that you and your daughter are promoting and selling sex toys, that’s why I deem you an ‘unholy rabbi?’”
“You gross me out. You disgust me. I am a better person than you, and I do not fear you,” Owens continued.
The list of controversial incidents involving Owens continued to grow longer with time. In one case, she “liked” an X/Twitter post that promoted the antisemitic “blood libel.” The post read, in response to Boteach, “Rabbi, are you drunk on Christian blood again?”
The “blood libel” is a medieval anti-Jewish slur which falsely claims that Jews use the blood of non-Jewish children in their religious rituals.
The post Candace Owens Claims US ‘Being Held Hostage by Israel,’ Suggests Zionists Killed JFK first appeared on Algemeiner.com.
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Hating Israel Isn’t New; How the CIA and State Department Undermined the Jewish State
“Teddy Roosevelt’s great-great-great grandson is an anti-Israel protester at Princeton,” blared a New York Post headline on May 4, 2024.
The Post reported that Quentin Colon Roosevelt, an 18-year-old freshman, and descendant of the 25th President, is an anti-Israel activist at the Ivy League university. But far from being hip and new, Quentin’s brand of anti-Zionism is old hat — he is merely continuing a long family tradition of anti-Israel activism.
There is an abundance of literature on Franklin D. Roosevelt’s views on Jews and Zionism, the belief in Jewish self-determination. Both FDR and his wife Eleanor had made antisemitic remarks. In a private conversation in 1938, then-President Roosevelt suggested that by dominating the economy in Poland, Jews were themselves fueling antisemitism. And in a 1941 Cabinet meeting, FDR remarked that there were too many Jewish Federal employees in Oregon. In his final days, FDR promised Saudi leader Abdul Aziz Ibn al Saud that he would oppose the creation of Jewish state in the Jewish people’s ancestral homeland.
FDR is the president who led the United States to victory against Adolf Hitler. He also employed Jews in high-ranking positions in his government. But he is also the president whose administration failed to save more Jews fleeing Nazism, and who refused to bomb the railway tracks leading to Auschwitz and other death camps where millions of Jews met a ghastly end. Accordingly, it makes sense that his beliefs regarding Jews have been the subject of books and belated study.
Less examined, however, is the Oyster Bay branch of the Roosevelt clan, and their beliefs regarding Zionism. In part, this is easily explained by the unique place that FDR holds in American history. He is the only president to serve four terms, and presided over both the Great Depression, World War II, and arguably the beginning of the Cold War. His branch of the family, the Hyde Park Roosevelts, were Democrats and remained active in public life for decades after his 1945 death.
At first glance, the Oyster Bay Roosevelts were more of a turn of the 19th century affair. They were Republicans, and their scion was Teddy Roosevelt, a war hero turned governor of New York state who, thanks to an assassin’s bullet, found himself as the nation’s leader in 1901.
The famously ebullient Roosevelt helped redefine the country’s idea of a president, and served as an inspiration for his cousin Franklin. But Teddy largely presided over an era of peace and tranquility, not war and upheaval.
Teddy was a philosemite. He was the first occupant of the Oval Office to appoint a Jewish American to the Cabinet. He championed the rights of Jews, both at home and abroad, and was harshly critical of the numerous pogroms that unfolded in czarist Russia.
As Seth Rogovoy has noted, Roosevelt’s “special relationship with Jews was forged during his time serving as police commissioner in New York City, a post he assumed in 1904.” When an antisemitic German preacher named Hermann Ahlwardt gave speeches in the city, Roosevelt assigned a contingent of Jewish police officers to guard the man.
Roosevelt was also a Zionist. In 1918, shortly after the Balfour Declaration, he wrote: “It seems to me that it is entirely proper to start a Zionist state around Jerusalem.” He told Lioubomir Michailovitch, the Serbian Minister to the United States, that “there can be no peace worth having … unless the Jews [are] given control of Palestine.” Six months later Roosevelt died in his sleep.
Not all his descendants would share his belief in Jewish self-determination, however.
Two of Teddy Roosevelt’s grandchildren, Kermit and Archie, served their country in the CIA during the early years of the Cold War. Both were keenly interested in Middle East affairs, and were fluent in Arabic. Both were well read and highly educated, authoring books and filing dispatches for newspapers like the Saturday Evening Post, among others.
They were also prominent anti-Zionists.
Kermit Roosevelt, known as “Kim,” played a key role in anti-Zionist efforts in the United States and abroad. He was not, by the standards of his time, an antisemite. But he was ardently opposed to the creation of Israel.
As Hugh Wilford observed in his 2013 book America’s Great Game: The CIA’s Secret Arabists and the Shaping of the Modern Middle East: “the anti-Zionism of the overt Cold War foreign policy establishment is well known” but “less widely appreciated is the opposition to Jewish statehood of the individuals responsible for setting up the United States’ covert apparatus in the Middle East.”
This began with the OSS, the CIA’s precursor. And it included men like Stephen Penrose, a former American University of Beirut instructor, and Kim Roosevelt’s boss during his wartime service in the OSS.
“Documents among Penrose’s personal papers reveal him engaged in a variety of anti-Zionist activities at the same time that he was commencing his official duties with the OSS,” Wilford notes.
Like many of his fellow Arabists, Penrose was the son of American missionaries who, failing to convert the native population to Christianity, sought to foster Arab nationalism instead. Penrose described himself as a “chief cook” who was “brewing” opposition to Zionism. He became one of Kim Roosevelt’s mentors.
In a January 1948 Middle East Journal article entitled, “Partition of Palestine: A Lesson in Pressure Politics,” Kim called the 1947 UN vote in favor of a Jewish state an “instructive and disturbing story.”
Roosevelt believed that the US media was unduly supportive of the creation of Israel, and claimed that almost all Americans “with diplomatic, educational, missionary, or business experience in the Middle East” opposed Zionism.
Kim’s pamphlet was reprinted by the Institute for Arab American Affairs, a New York-based group whose board he sat on. He also began working with the Arab League’s Washington, D.C., office and “turned elsewhere for allies in the anti-Zionist struggle, starting with the Protestant missionaries, educators, and aid workers.”
This nascent group soon received financial support from the American oil industry, which maintained close links to Kim’s OSS/CIA colleague, William Eddy.
As Wilford noted, the Arabian consortium ARAMCO “launched a public relations campaign intended to bring American opinion around to the Arab point of view.”
In addition to missionaries and big oil, Kim gained another important ally in the form of Elmer Berger, a rabbi from Flint, Michigan. Berger served as executive director of the American Council for Judaism, an anti-Zionist group that, among other things, opposed the creation of a Jewish army during World War II at the height of the Holocaust. Berger and Roosevelt became drinking buddies and close collaborators on their joint effort against the Jewish State.
Kim eventually became “organizing secretary” for a group called The Committee for Justice and Peace. The committee’s original chair, Virginia Gildersleeve, was both a longtime friend of the Roosevelts of Oyster Bay and the dean of New York City’s Barnard College, which today is part of Columbia.
Gildersleeve was “also a high-profile anti-Zionist” who “became involved with the Arab cause through her association with the Arabist philanthropist Charles Crane and the historian of Arab nationalism George Antonius.”
Crane, a wealthy and notorious antisemite, had lobbied against the creation of a Jewish state since the beginning of the 20th century, even advising then-President Woodrow Wilson against supporting the Balfour Declaration.
By 1950, the Committee had managed to recruit famed journalist Dorothy Thompson to their cause. Thompson was reportedly the basis for actress Katharine Hepburn’s character in the 1942 movie Woman of the Year. A convert to anti-Zionism, Thompson’s extensive network of reporters and celebrities proved crucial to Kim and Berger’s efforts to rally opposition to the Jewish State. In a 1951 letter to Barnard College’s Gildersleeve, Thompson wrote: “I am seriously concerned about the position of the Jews in the United States.” People, she claimed, “are beginning to ask themselves the question: who is really running America?”
Another ally emerged that year: the Central Intelligence Agency.
The CIA began funding the Committee, as well as its successor, the American Friends of the Middle East (AFME). Beginning in June 1950, Kim’s correspondence with Berger began making veiled references to the ACJ head taking on “official work” in Washington. This, Wilford believes, is a reference to working with the CIA. Indeed, the well-connected Kim and Archie Roosevelt had known top CIA officials like Allan Dulles since childhood.
With support from figures like Eddy, AFME also began encouraging Muslim-Christian alliances — ostensibly to counter Soviet influence, but also to attack the Jewish state. This led to some awkward alliances, including with Amin al-Husseini, the founding father of Palestinian nationalism and an infamous Nazi collaborator.
Husseini had ordered the murders of rival Palestinians, incited violence against Jews since the 1920s, and had led forces, equipped with Nazi-supplied arms, to destroy Israel at its rebirth in 1948. Now, along with the Secretary General of the Arab League, and Saudi King Ibn Saud, he was meeting with Eddy to discuss a “moral alliance” between Christians and Muslims to defeat communism. Kim himself knew Husseini, having interviewed him for the Saturday Evening Post after World War II.
AFME lobbied for the appointment of anti-Zionist diplomats and in favor of Eisenhower administration efforts to withhold aid from Israel. And both Berger and Thompson pushed for favorable coverage of the new Egyptian dictator, Gamal Nassar, who would wage war on the Jewish state for nearly two decades. Initially, they were successful, with TIME magazine writing that Nasser had the “lithe grace of a big, handsome, all-American quarterback.” Of course, there was nothing “all-American” about Nasser, who would become a Soviet stooge.
AFME officials like Garland Evans Hopkins would draw rebukes after claiming that Jews were bringing violence against themselves — a staple of antisemitism. Hopkins claimed that Zionists “could produce a wave of antisemitism in this country” if they continued acting against “America’s best interests in the Middle East.”
AFME itself would eventually lose influence, particularly after its boosting of figures like Nasser was revealed as foolhardy. Berger would go on to advise Senator J. William Fulbright (D-AR) in his efforts to get pro-Israel Americans to register as foreign agents.
In 1967, as Arab forces gathered to annihilate Israel, Berger blamed the Jewish State, accusing it of “aggression” and its supporters of “hysteria.” Top ACJ officials resigned in protest. That same year, Ramparts magazine exposed CIA support, financial and otherwise, of AFME.
Kim and Archie Roosevelt, however, would continue their careers as high-ranking CIA officers before eventually starting a consulting business and making use of their extensive Middle East contacts.
For some college protesters, attacking Israel — and American support for Israel — might seem new and trendy. Yet, both the CIA and big oil were precisely doing that, decades ago, forming alliances with anti-American dictators, antisemitic war criminals, the press, Protestant groups, academics, university administrators, and fringe Jewish groups claiming to represent “what’s best” for American Jewry.
As William Faulkner once wrote: “The past is never dead. It’s not even past.”
The writer is a Senior Research Analyst for CAMERA, the 65,000-member, Boston-based Committee for Accuracy in Middle East Reporting and Analysis
The post Hating Israel Isn’t New; How the CIA and State Department Undermined the Jewish State first appeared on Algemeiner.comhttps://www.algemeiner.com/.
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Canada’s economic growth projected to be about 1% in the first half of 2024
Canada is a country with a thriving Jewish community and has traditionally offered the security of a strong economy for residents. The national economic outlook is naturally something that everyone in Canada’s Jewish community keeps track of – especially those involved in business in the various provinces.
With this in mind, the July 2023 Monetary Policy Report from the Bank of Canada made for interesting reading, projecting a moderate economic growth figure of around 1% for the first half of 2024. This is in line with growth figures that had been forecast for the second half of 2023, and sees the country’s economy remain on a stable footing.
Steady projected growth for first half of 2024
Although projected economic growth of around 1% in early 2024 is not as impressive as figures of around 3.4% in 2022 and 1.8% in 2023, it is certainly no cause for alarm. But what might be behind it?
Higher interest rates are one major factor to consider and have had a negative impact on household spending nationally. This has effectively seen people with less spending power and businesses in Canada generating less revenue as a result.
Interest rate rises have also hit business investments nationally, and less money is being channelled into this area to fuel Canada’s economic growth. When you also factor in how the weak foreign demand for Canadian goods and services has hit export growth lately, the projected GDP growth figure for early 2024 is understandable.
Growth in second half of 2024 expected
Although the above may make for interesting reading for early 2024, the Bank of Canada’s report does show that economic growth is expected to pick up in the second half of the year. This is projected to be due to the decreasing effect of high interest rates on the Canadian economy and a stronger foreign demand for the country’s exports.
Moving forward from this period, it is predicted that inflation will remain at around 3% as we head into 2025, and hit the Bank of Canada’s inflation target of 2% come the middle of 2025. All of this should help the country’s financial status remain stable and prove encouraging for business leaders in the Jewish community.
Canada’s economic growth mirrors iGaming’s rise
When you take a look at the previous growth figures Canada has seen and also consider the growth predicted for 2024 (especially in the second half of the year), it is clear that the country has a vibrant, thriving economy.
This economic growth is something that can be compared with iGaming’s recent rise as an industry around the country. In the same way as Canada has steadily built a strong economy over time, iGaming has transformed itself into a powerful, flourishing sector.
This becomes even clearer when you consider that Canadian iGaming has been a major contributor to the sustained growth seen in the country’s arts, entertainment and recreation industry, which rose by around 1.9% in Q2 of 2023. The healthy state of online casino play in Canada is also evidenced by how many customers the most popular casino platforms attract and how the user experience these operators offer has enabled iGaming in the country to take off.
This, of course, is also something that translates to the world stage, where global iGaming revenues in 2023 hit an estimated $95 billion. iGaming’s global market volume is also pegged to rise to around $130 billion by 2027. These kinds of figures represent a sharp jump for iGaming worldwide and show how the sector is on the ascent.
Future economic outlook for Canada in line with global expectations
When considering the Canadian economic outlook for 2024, it is often useful to look at how this compares with global financial predictions. In addition to the rude health of iGaming in Canada being reflected in global online casino gaming, the positive economic outlook for the country is also broadly in line with expectations for many global economies.
Global growth is also predicted to rise steadily in the second half of 2024 before becoming stronger in 2025. This should be driven by the weakening effects of high interest rates on worldwide economic prosperity. With rate cuts in Canada already expected after Feb 2024’s inflation report, this could happen in the near future.
The performance of the US economy is always of interest in Canada, as this is the country’s biggest trading partner. Positive US Q2 performances in 2023, powered by a strong labor market, good consumer spending levels and robust business investments, were therefore a cause for optimism. As a US economy that continues to grow is something that Canadian businesses welcome, this can only be a healthy sign.
Canada set for further growth in 2024
Local news around Canada can cover many topics but the economy is arguably one of the most popular. A projected GDP growth figure of around 1% for Canada’s economy shows that the financial state of the country is heading in the right direction. An improved financial outlook heading into the latter half of 2024/2025 would make for even better reading, and the national economy should become even stronger.