Economists foretell of U.S. decline, China's ascension
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.
In the long run, the United States must face up to inevitably being overtaken by China as the world's largest economy. And it may have missed a chance to rein in its largest financial institutions, many of whom remain too big to fail and are getting bigger.
The United States will need to come to terms with the fact that its prevalence in the world is fated to come to an end, Jorgenson said. This will be difficult for many Americans to swallow and the United States should brace for social unrest amid blame over who was responsible for squandering global primacy, he said.
MIT's Simon Johnson put it more bluntly, saying the damage from the financial crisis and its aftermath have dealt U.S. prominence a permanent blow.
"The age of American predominance is over," he told a panel. "The (Chinese) Yuan will be the world's reserve currency within two decades."
If that isn't enough, we also see this from The Guardian:
US concerned over China's rapid development of new weapons
US defence secretary Robert Gates says China's rapidly developing defence capabilities are worrisome to the US.
China has made strides in building a new stealth fighter jet and Washington is also concerned about a new ballistic missile that could theoretically explode an aircraft carrier nearly 2,000 miles (3,200 kilometres) out to sea. China has also apparently beaten US estimates to develop that weapon.
The Pentagon is focusing scarcer defence dollars on ways to counter the kinds of weapons China is now building. Gates said recently he wants to spend more on a new long-range nuclear bomber and updated electronics gear for the Navy that could throw an incoming missile off course.
"They [China] clearly have potential to put some of our capabilities at risk," Gates told reporters traveling with him to Asia. "We have to pay attention to them, we have to respond appropriately with our own programs." The US has long known that China wanted to field a stealth jet, but development outpaced US intelligence estimates, Gates said.
As mentioned before - this "sign" along with so many others, is right on schedule. One can go back and take a look at Hal Lindsey's "Late Great Planet Earth" and even as far back as 1970, Mr Lindsey, based upon a literal view of prophecy devoted an entire chapter to the expected rise of China as a world power. This came at a time when such discussions seemed ridiculous, as China wasn't even close to being a world power - yet a literal view of prophecy is never incorrect and this is no exception.
China will be a major player during the carnage of the Tribulation - there is no doubt about that. We are seeing their incredibly rapid rise to power - power which will become manifest during the Tribulation.
We sit here and watch incredulously, as the world marches straight into this last 7-year period.
And this is just one of the many signs that we observe daily - this is the season that Jesus so passionately warned us about.
But we have good news in the midst of the coming storm (and it is always worth remembering these key scriptures):
"When these things begin to take place, stand up and lift your heads, because your redemption is drawing near." (Luke 21:28)
"Even so, when you see these things happening, you know that the kingdom of God is near." (Luke 21:31).
Promises that come directly from Jesus. You can count on it. He is coming, and He is coming soon. This fact is as predictable as all of the other prophecies that have been fulfilled exactly as stated in our biblical scriptures.
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