Prophecy Update July 15, 2013: The Future Of China's Economy; Dutch Losing Patience With Netanyahu!
China: Economy Slows To 7.5 Percent Growth
July 15, 2013 | 0443 GMT (Stratfor)
China's economy slowed to 7.5 percent growth in the second quarter, weighted by halting exports, sluggish retail sales and softer investment, Financial Times reported July 14. It was the second consecutive quarter of weaker growth. With the economy's downturn continuing there is a real risk that China will fall below the government's target of 7.5 percent in 2013. If the Chinese government misses its annual growth target this year, it will be the first time since the Asian financial crisis 15 years ago. Five years ago, China's economy was more encouraging than the United States', but that is no longer the case.
Reader: I'm encouraged by your website to look more into world events. Most folks I meet don't know anything about end times stuff- I refer to Christians. The charts are my favorite, I am a visual guy. I live to evangelize, and have pointed a few folks to your website. It helps. Thanks
If China tanks, it may be that many of the goods and services they produce will slow down. Which would be very bad for the world economy, let alone the US. So it seems, more and more pressure is mounting on the 2 state solution- your latest video. Kerry's talks failed, as you predicted. Now he needs to walk away from it and let the Europeans handle it, most likely forced on Israel through embargoes and tariffs. We can't be too far off from the rapture.
My Response: I couldn't have said it better. That's exactly what I feel is the next step. As far as China is concerned, this development only strengthens my belief that the US will remain the dominate economic and military world superpower for the foreseeable future...on into the tribulation period. China is on the way down economically, but I wouldn't count them out by any means. They're just not going to overtake the US.
However, there will come a time when I believe China will be desperate to feed their people. When the Apocalypse (Revelation 6:3-8) takes place (1/4 of world population killed, famine, etc.), I believe China, and possibly India, will be forced to march (Revelation 16:12-14) from the East to the West following this horrific war in search of food. They will be lead by a group of demonic leaders as Scripture details.
Reader on China: China is in an enormous market bubble. They're building entire cities that are uninhabited. When I was in Beijing 2 years ago, I was taken back by what I saw. Shopping malls for example that have stores that sell only women's golf apparel that are a couple thousand square feet of elaborate displays and another super high end store with rows and rows of men's cuff links, etc. But where's the consumption? They build build build but the demand is not there to buy buy buy.
My Response: That's exactly what the analysts are saying. China is building just to build and keeping people employed for the sake of staying in line with their 7.5% growth projection for 2013. Stratfor says that the Chinese government is propping up the economy through various stimulus programs. The only problem, worldwide demand for the products that have kept their economy rolling forward has dropped off drastically. Their warehouses are stocked full of products with no destination or buyers. But instead of allowing bankruptcies and layoffs to occur, the government is pumping money into the economy and continuing to build up inventories. If the world economy fails to rebound soon, the government will be faced with a major fall. How big, no one really knows.
They have also been challenged by countries such as Vietnam and Indonesia, to name a few, who are said to be the next China due to their low paid workforce. Unfortunately for China, with unprecedented growth and prosperity comes a more modern society (generation) that is educated and demanding higher wages. Cheap labor is slowly becoming a thing of the past for China. These two factors will compound China's future economic problems.
The comments in this article were comprised by two different readers.
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