China: Non-USA Economy Needed
The World Financial Markets Have Been More Unstable This Year Than Last
A Chinese newspaper reported today that it wants the world’s financial markets to no longer rely on the USA:
China paper urges new currency order after “tsunami”
Reuters – Sept 17, 2008
BEIJING (Reuters) – Threatened by a “financial tsunami,” the world must consider building a financial order no longer dependent on the United States, a leading Chinese state newspaper said on Wednesday.
The commentary in the overseas edition of the People’s Daily said the collapse of Lehman Brothers Holdings Inc “may augur an even larger impending global ‘financial tsunami’.”
The People’s Daily is the official newspaper of China’s ruling Communist Party, and the overseas edition is a smaller circulation offshoot of the main paper…
“The eruption of the U.S. sub-prime crisis has exposed massive loopholes in the United States’ financial oversight and supervision,” writes the commentator, Shi Jianxun.
“The world urgently needs to create a diversified currency and financial system and fair and just financial order that is not dependent on the United States.” http://www.reuters.com/article/usDollarRpt/idUSPEK2402720080917
As I wrote earlier this year, the subprime crisis is getting the world to realize that there needs to be a post-USA dominated world economy.
For the second day in a row, Russia has closed its stock markets:
Russia suspends stock trading to stop market meltdown
MOSCOW (AFP) — Russia suspended trading on its two main stock markets for a second day Wednesday as shares nosedived and officials pledged 44 billion dollars to fight collapsing investor confidence…
President Dmitry Medvedev last week said that a quarter of the market’s losses could be attributed to the conflict, in part reflecting fears that a stand-off with the West would hurt business.
The rest, he said was the result of global financial turmoil.
Weafer said worries at the prospect of further drops in the price of oil — the commodity that has fuelled Russia’s spectacular economic gains in recent years — were also taking a toll on markets. http://afp.google.com/article/ALeqM5jJecXbYbt_taFgUEx-SstmRAOO8Q.
The world is somewhat reeling, but not all. Germany seems to be doing well through the crisis:
Although the market meltdown in the US is likely to have some impact on Germany, most editorialists on Wednesday urge calm — with one major paper even stating that the national economy will continue to grow. Most are united in their view that, once the dust settles, financial markets will be a lot more transparent after this fiasco…
The business daily Financial Times Deutschland writes:
“The earthquake on Wall Street may have the walls shaking at some European financial institutions, but there is no acute threat of collapse here. So far, there is no evidence that the finance crisis is having any real impact on the German economy. Credit continues to flow; and the loss of capital has not been extraordinary. Nor have companies and consumers been forced to lower their consumption. So the good news is that Germany and Europe are not having economic trouble because of the finance crisis. The bad news, however, is that they still have an economic problem.”
The center-right Frankfurter Allgemeine Zeitung uses the German economy as its jumping off point, noting that the latest crisis is likely to fuel calls for the government to create a spending program aimed at boosting growth as Berlin begins debating the federal budget.
“At the start of the federal budget debate, Finance Minister Peer Steinbrück is walking a tightrope — he has to address the growing risks without painting too dark a picture. He has so far rejected a economic stimulus package despite support for one in some corners of his party. In fact, there are no reasons to justify a package. The German economy is in better shape than that of the US, Britain or Spain, which had their roots in the burst real estate bubble. Even if the forecast for next year is now worse than it was a shot time ago, the German economy will still continue to grow. Past experience shows that stimulus packages just create more debt.” http://www.spiegel.de/international/business/0,1518,578780,00.html.
A German dominated European power will, temporarily according to Bible prophecy, take over the world. Especially after the future King of the North (a European leader) fulfills biblical prophecy and eliminates the USA and its Anglo-allies militarily.
Several articles of possibly related interest may include:
Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? When does the Bible show that economic collapse will affect the United States?
End of Mayan Calendar 2012–Might 2012 Mean Something? There is a Mayan calendar prediction for change in 2012. 2012 changes were also centuries ago predicted by the Hopi Native Americans (the Hindus may have some predictions for the next decade as well). Do these Mayan/Hindu/Hopi prophecies have any value? Why might Satan have inspired this date? Does the Dresden codex show destruction of the earth by flood? Can the great tribulation start before 2012?
Does God Have a 6,000 Year Plan? What Year Does the 6,000 Years End? Was a 6000 year time allowed for humans to rule followed by a literal thousand year reign of Christ on Earth taught by the early Christians? When does the six thousand years of human rule end?
Africa: Its Biblical Past and Prophesied Future What does the Bible teach about Africa and its future? Did the early Church reach Africa? Will God call all the Africans?
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, British, Scottish, Welsh, Australians, Anglo-Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo nations? Why might God allow them to be punished first?
The Arab World In the Bible, History, and Prophecy The Bible discusses the origins of the Arab world and discusses the Middle East in prophecy. What is ahead for the Middle East and those who follow Islam?
Asia in Prophecy What is Ahead for China? Is it a “King of the East”? What will happen to nearly all the Chinese, Russians, and others of Asia? China in prophecy, where?
End of Mayan Calendar 2012–Might 2012 Mean Something? There is a Mayan calendar prediction for change in 2012. 2012 changes were also centuries ago predicted by the Hopi Native Americans (the Hindus may have some predictions for the next decade as well). Do these Mayan/Hindu/Hopi prophecies have any value? Why might Satan have inspired this date? Does the Dresden codex show destruction of the earth by flood? Can the great tribulation start before 2012?
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? What is ahead for Europe?
India, Its Biblical Past and Future: Any Witness? The Bible discusses the origins of those of Indian heritage and discusses some of the witness to them.
Islands and Bible Prophecy What’s ahead for islands? What does the Bible prophesy about them?
Japan, Its Biblical Past and Future, Part 2: Prophecy Japan in prophecy. What is prophesied for Japan. Will God save the Japanese?
Mexico, Central America, South America, and Brazil in Prophecy What will happen to those of Latin America? Will they have prosperity? Will they suffer in the future?
Russia: Its Origins and Prophesied Future Where do the Russians come from? What is prophesied for Russia? What will it do to the Europeans that supported the Beast in the end?
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