USA/CHINA - Trade Between Two Giants Still Robust

Arno Froese

Despite all the talk of decoupling amid other diplomatic discord, the United States’ trade with China remains exceptionally strong.

The deficit with China rose by $2.2 billion to $26.5 billion in October, according to a US Commerce Department report. Exports to China increased $1.1 billion to $13.1 billion, and imports were up $3.3 billion to $39.7 billion.

US goods exports to China rose to a record $14.72 billion in October from $11.54 billion in September. Imports from China jumped to $44.83 billion from $41.21 billion in the month, hitting their highest mark since December 2018.

Total US exports and imports rose for the fifth straight month, with the global economy getting a boost from a strong post-pandemic economic rebound in China.

China remained the US’ top trading partner in October, and commerce between the world’s two largest economies accounted for 16.9 percent of all US trade in the month, according to US Census Bureau data.

“Trade imbalances between nations do not occur in a vacuum. They are an outgrowth of macroeconomic saving problems,” wrote economist Stephen Roach. “The US, with its chronic shortfall of domestic saving, ran merchandise trade deficits with 102 nations in 2019. China, with its chronic saving surplus, ran merchandise trade surpluses with 159 nations in 2018.”

China also has experienced strong trade growth with the European Union.

According to the EU’s statistical office, the volume of Chinese-EU trade from January through September was 425.5 billion euros, or about $516.8 billion, surpassing US trade with the EU, which was valued at 412.5 billion euros, or about $501 billion during the same three quarters.

“As important trade partners to each other, China and the EU are highly complementary in economies and boast huge potential in broad cooperation areas,” Chinese Foreign Ministry spokesperson Hua Chunying told a news conference in Beijing.

-global.chinadaily.com.cn, 7 December 2020

Arno's Commentary

Globalism is in, national protectionism is out, no matter who likes it or not. In the meantime, China—according to their own estimation—declares itself the world’s largest economy, thus able to dominate various fields of global merchandising. What’s most interesting is that they are doing it without firing a shot, without threatening war. This has caused other super-rich and successful countries to occupy themselves with protectionism.

What will be the outcome? From the prophetic standpoint, simply one word: equality. The nations of the world must become more united, in order to eventually lift their fist against God, the Creator of heaven and earth, and exclaim: “We are gods.” That, incidentally, is already in the works within various levels of the evangelical world, where popular teachers insist you are a little god and can dictate the future: your own wealth, health, and prosperity. That is actually occurring on the surface level, but the end is global catastrophe, as we read in Revelation 18:9: “And the kings of the earth, who have committed fornication and lived deliciously with her, shall bewail her, and lament for her, when they shall see the smoke of her burning.”

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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