“The Chinese government is struggling to contain the collapse of a stock-market rally it helped engineer, announcing late Monday that it will step up its purchases of shares to prop up sagging indexes. Chinese shares suffered their biggest one-day percentage drop in over eight years Monday, wiping out hundreds of billions of dollars of market value and putting an end to a three-week period of stability Beijing had achieved by intervening with stock purchases and other steps to stop the market’s slide” (The Wall Street Journal, July 28, 2015). This has led to widespread fears that China’s slump will create a tsunami of instability on the world market. “The wild volatility in China’s markets has stoked fears among global investors about the broader health of the Chinese economy, and sent Asian investors scurrying on Tuesday for safe-haven assets…” (Reuters, July 28, 2015).
In light of these events, it will be important to watch Europe! Tomorrow’s World readers and listeners know from Scripture that a European superpower will emerge on the world stage and bring a brief period of prosperity (Revelation 17-18). Though Asia will also play a key role in end-time events from a military perspective (Revelation 9:16), it will be the European-led system that will play a bigger economic role. The events surrounding China’s instability could enable a German-led Europe to exert more economic influence in the world.
To learn more about Europe in prophecy, read our article, “Coming: A ‘United States of Europe’!”