The first quarter GDP numbers were just released, showing a 6.1% decline in US GDP, significantly worse than expected.
Meanwhile, despite falling exports and a worldwide recession, China’s GDP grew by 6.1% in the first quarter.
Last year alone, the U.S. trade deficit with China was $266.3 Billion. That is, we imported a quarter of a trillion dollars more in products from China, than we exported to it.
The Chinese standard of living is advancing, and once that country is free of the shackles of a centrally planned economy, their skyrocketing economy will explode even more.
The Chinese people are industrious and intelligent. Even though they earn far, far less than Americans, they save over 50% of their earnings. Americans have a negative savings rate. We don’t save at all. We just go deeper into debt.
And it’s the Chinese to whom we are becoming increasingly, and dangerously, indebted. The Chinese are essentially loaning us their savings, so we can continue to live beyond our means. And the borrower is the servant of the lender.
Meanwhile, as the number of Christians in the United States continue to decline, the faith is booming in China. Despite (or perhaps because of) persecution, there are now more Christians in China than in any other country on earth. And there are about 1 million new believers in China every year.
The Red Sun is rising.