Ezekiel 33:6 But if the watchman see the sword come, and blow not the trumpet, and the people be not warned; if the sword come, and take any person from among them, he is taken away in his iniquity; but his blood will I require at the watchman’s hand.
Strict pandemic policies in China are causing its industrial production to slow and its economy to take a beating as millions of its citizens are forced under lock down orders.
Shanghai, an urban hub with a population nearly equivalent to that of Australia, has been on lock down for five weeks now.
The CSI 300 Index has languished during the lock downs, shedding more than 6% of its total value over the past month alone and nearly 20% over the last six months.
Additionally, fearing that the lock downs will continue, investors from other countries have begun taking their money out of the Chinese economy.
In March, some $7 billion worth of shares were yanked from China’s markets by overseas investors, and April has seen outflows of about $1 billion so far, according to Bloomberg.
Retail sales across mainland China fell 2% in March and 3.5% from a year ago, the worst annual drop since the height of the pandemic in 2020.
The Chinese unemployment rate has also ticked upward in light of the economic slowdown, rising to 5.8% the worst since 2020, and above Beijing’s target.
Since almost everything that America uses is made in China, the lock downs in China could further worsen U.S. inflation by adding to supply constraints. U.S. inflation has been rising rapidly.
Consumer prices increased by 8.5% for the 12 months ending in March, the fastest pace since 1981.
Congress play their part too, hauling in energy and agriculture executives for what amounts to show trials, a nation that was a net exporter of oil for the first time in 80 years, where food stamp usage hit a record low, and where the post-pandemic economy was starting to boom thanks to President Trump.
Minneapolis Fed President Neel Kashkari warned this week that if the Chinese lock downs put too much further strain on global supply chains, the Fed might need to use its monetary policy more hawkishly to stave off rising prices.
Russian and Ukrainian wheat, barley, fertilizer, and, most of all, energy have made every mouthful cost more.
Russia and Ukraine produce almost 1/3 of the world’s wheat, and Russia exports 20% of the world’s natural gas supply.
This worldwide economic slow down and shortages hurt the poor nations the most.
Luke 21:9 But when ye shall hear of wars and commotions, be not terrified: for these things must first come to pass; but the end is not by and by.
Luke 21:11 And great earthquakes shall be in divers places, and famines, and diseases; and fearful sights and great signs shall there be from heaven.
Luke 21:25 And there shall be signs in the sun, and in the moon, and in the stars; and upon the earth distress of nations, with perplexity; the sea and the waves roaring;
Luke 21:28 And when these things begin to come to pass, then look up, and lift up your heads; for your redemption draweth nigh.
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