CHINA - Quality Development Brings Opportunities
China’s economy moves forward steadily. In 2023, China’s gross domestic product surpassed 126 trillion RMB, achieving the growth target of 5.2 percent expected at the start of the year.
Compared horizontally, a growth rate of 5.2 percent is significantly higher than the United States’ 2.5 percent, the Eurozone’s 0.4 percent, and Japan’s 1.9 percent, ranking China among the fastest-growing major economies in the world. In 2023, China contributed more than 30 percent to world economic growth and remains the most important engine for global economy.
High-quality development advances solidly. The structure of China’s economic development has been continuously optimized and upgraded, with the leading role of domestic demand more prominent.
The Chinese economy becomes more and more innovative and green. China’s scientific and technological innovation continues to achieve new breakthroughs. In 2023, the number of invention patents granted exceeded 920,000, and the total expenditure on social research and experiment reached 3.3 trillion RMB.
China’s high-quality economic development and high-level opening-up have provided more opportunities for market, investment, and growth to Europe and the whole world.
-euobserver.com, 12 April 2024
Arno's Commentary
According to most news media, anti-China sentiment seems preeminent, particularly due to the fact that it is a communist state. Yet they practice a mixture of communism, socialism, and capitalism, and that rather successfully.
Experts debate the strength of China’s economic position in the world. The facts on the table are clear: According to cepr.org, China dominates in global manufacturing at 35%, with the US a distant 12%. Now their target is to produce more high-quality products. Will they succeed? Doubtless.
Elderly people will recall the late 1960s, when Japanese cars were made available in the West. Their products became a laughingstock. Not so today; they compete with the best motor vehicles, and mostly win.
What does this mean prophetically? The fulfillment of the EU’s slogan: “United in diversity.”
Several reports indicate each country’s essential dependence upon one another; in this case, the US and China.
This foreshadows the god of this world’s intention to bring about a copycat form of peace for planet earth. He will succeed, albeit temporarily. The end is documented in Philippians 2:10-11: “That at the name of Jesus every knee should bow, of things in heaven, and things in earth, and things under the earth; And that every tongue should confess that Jesus Christ is Lord, to the glory of God the Father.”
Arno Froese is the executive director of Midnight Call Ministries and editor-in-chief of the acclaimed prophetic magazines Midnight Call and News From Israel. He has authored a number of well-received books, and has sponsored many prophecy conferences in the U.S., Canada, and Israel. His extensive travels have contributed to his keen insight into Bible prophecy, as he sees it from an international perspective.
