Economists foretell of U.S. decline, China's ascension

Is China one of the Kings of the East which is mentioned in the book of Revelation? (Revelation 16:12). We think so.  In a recent post we noted the growing military might of China, and in today’s blog entry we note once again the rising economic power that China has become.  China will be powerful enough during the Tribulation period to give even the Antichrist a major headache.

But reports from the east and the north will alarm him, and he will set out in a great rage to destroy and annihilate many. Daniel 11:44 NIV

From the article:

To hear a number of prominent economists tell it, it doesn't look good for the U.S. economy, not this year, not in 10 years. Leading thinkers in the dismal science speaking at an annual convention offered varying visions of U.S. economic decline, in the short, medium and long term. This year, the recovery may bog down as government stimulus measures dry up. In the long run, the United States must face up to inevitably being overtaken by China as the world's largest economy.
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Europe and the euro will remain among the most important areas of investment for China’s world-record $2.65 trillion of foreign-exchange reserves, a central bank official said in the nation’s latest show of support. “The euro and the European financial markets are an important part of the global financial system and were, are and will be one of the most important investment areas for China’s foreign-exchange reserves,” Deputy Governor Yi Gang said in a statement on the central bank’s website.

Economists foretell of U.S. decline, China's ascension

http://www.reuters.com/article/idUSTRE7082BL20110109

China Backs Europe, Euro for Investment, Central Bank Deputy Governor Says

http://www.bloomberg.com/news/2011-01-07/china-will-put-currency-reserves-into-europe-euro-central-bank-s-yi-says.html