EU - China Now Top Trading Partner

Arno Froese

During global trade’s annus horribilis, heavily impacted by the coronavirus pandemic, EU-China trade grew while imports and exports to the United States dramatically dropped compared with 2019, according to data by the EU’s statistics office Eurostat. 

In 2020, exports of EU goods to China increased by 2.2 percent and imports went up 5.6 percent, while EU trade with the rest of the world dramatically dropped (down 9.4 percent in term of exports, and down 11.6 percent in terms imports compared with 2019). The pandemic severely hit transatlantic trade, with exports of European goods to the U.S. falling by 8.2 percent year-on-year. Imports fell 13.2 percent.

As a result, the U.S. is no longer the bloc’s top commercial partner and has been replaced by China. EU exports to China in 2020 amounted to €202.5 billion while imports reached €383.5 billion.

This new data come as Brussels is trying to intensify its economic ties with Beijing by concluding an EU-China investment pact, which has raised concerns among European lawmakers and civil society. 

Eurostat estimates also show that EU trade started recovering during the second half of the year to the point that, in December 2020, exports of EU goods to the rest of the world as well as intra-EU trade were larger compared to the same month of the previous year.

During the global trade crisis, the bloc increased its trade surplus (€30.1 billion in 2020 compared with €22.1 billion). 

-www.politico.eu, 15 February 2021

Arno's Commentary

With this development, the US has lost the spot as the EU’s top trade partner. 

There is no doubt that this growth will continue, for such is the basic principle of global economy. No growth is often interpreted as recession, which if extended can lead to catastrophe. 

What is catastrophe? Simply the reduction or even ceasing of world commerce. No country can afford to be isolated. All will have to follow, consciously or unconsciously, the dictates of the spirit of the end times, under the auspices of the god of this world.

Is this a positive development? It is neither; the simple answer is that it is fulfillment of Bible prophecy in progress. No country can function in a civilized, democratic manner without having trade relations with as many other countries as possible. Where will it lead? We reemphasize: a peaceful, prosperous, and secure global society. But, we add, at the epitome of success comes catastrophe: “And they cast dust on their heads, and cried, weeping and wailing, saying, Alas, alas that great city, wherein were made rich all that had ships in the sea by reason of her costliness! for in one hour is she made desolate” (Revelation 18:19).

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.

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