The CNN Daily yesterday mentioned that President Barak Obama is meeting with China, and one of the items on the agenda is the artificial deflation of Chinese currency. This is currency, of course, that is helping to boost up all of the spending going on of late. The reporter made the remark that was similar to Mr Obama meeting with his bankers.
His trek through Asia isn’t all bad, though. He called for the release of Myanmar political prisoner Aung Sang Suu Kyi and spoke to Chinese college students about freedom on the Internet and human rights.
The irony, though, is that most of Chinese television censored the talk. Even more ironic is that a reporter who tried to interview students afterwards was asked to stop. Perhaps he was being rude, as some reporters are wont to do, but I didn’t see any rude behavior during the few interviews that were shown.
Whether the President can even have a signficant positive effect upon China under these circumstances is questionable.
One thing we do know is that our economic situation is going to continue to grate upon our foreign allies, and it certainly will restrain China’s economic ambitions. The most likely result will be China stepping up trade relations with Europe, which will strengthen Europe even more as the US continues its decline.
I am reminded of what was prophesied about Japheth.
26And he said, Blessed be the LORD God of Shem; and Canaan shall be his servant.
Cooperation between Asia and the US as well as Europe is not unusual, given this prophecy. But, Japheth will still be in the shadows of Shem, and this will continue until Europe becomes the dominant player in the time leading up to the return of Jesus Christ.