Everywhere you turn, the news seems to be focused on COVID-19—the newest version of a coronavirus. The World Health Organization (WHO) has now released a statement raising the coronavirus assessment to its highest level.
“We are on the highest level of alert or highest level of risk assessment in terms of spread and in terms of impact” said Dr. Mike Ryan, executive director of WHO’s health emergencies program.
While the organization states that they are not trying to cause panic, they were merely saying, “This is a reality check for every government on the planet: wake up, get ready, this virus may be on its way and you need to be ready. You have a duty to your citizens; you have a duty to the world to be ready.”
While the focus of “infections” is in regard to people, the virus is beginning to cause hemorrhaging in the global financial world. The coronavirus outbreak has sapped financial markets, emptied shops and businesses and put major sites and events off limits. As of this writing, the major stock indices for the U.S. is down over 3600 points this week alone.
Major concern has come to the forefront as China is facing an implosion in its retail and financial sectors due to the virus. A recent report revealed that 85% of China’s small businesses which employ 80% of China’s workforce, will run out of money in less than 90 days. A third of those companies will be out of cash in less than 30 days. Should this happen, not only will China’s economy collapse, but China’s $40 trillion financial system will disintegrate, as it is suddenly flooded with trillions in bad loans.
There is a growing chorus calling for the Chinese government to step in and prevent this from happening with whatever means possible. The reason is simple: These smaller employers account for 99.8% of registered companies in China and contribute more than 60% of gross domestic product and more than 50% of tax revenue for the Chinese government.
A recent Bloomberg headline read, “Millions of Chinese Firms Face Collapse If Banks Don’t Act Fast”. The article highlighted and described the dilemma of Brigita, a director at one of China’s largest car dealers.
Her firm’s 100 outlets have been closed for about a month because of the coronavirus, cash reserves are shrinking, and banks are hesitant to extend deadlines on billions of yuan in debt coming due over the next few months, not to mention other creditors.
In this day of globalism, nations have been forced to rely on production centers on the other side of the world for a vast majority of our goods. When China shuts down, the US economy loses almost 20% of its supply chain. When you add in virus impacted Japan, Singapore, Taiwan, Hong Kong and Vietnam, you can add another 10% to 15% on top of that. Retailers in the US represent around 70% of GDP. Cut off the supply chain in Asia and retailers lose a vast array of goods to sell. Even if the virus never spreads throughout the U.S., its economy is essentially shut down.
So, it’s not surprising to see a call by a former Federal Reserve Governor come out today saying that he expects to see coordinated Central Bank action in response to the virus outbreak.
So, what does this have to do with bible prophecy? These events and responses are setting the stage for global elitist and national leaders to form the coming one-world government. It gives them the reason to form an infrastructure to bring this about at some future time as this virus event shows the ineptness of divided governments to deal with cataclysmic events.
Jesus said that when we saw these things beginning to take place, know that the time is coming for His return. It’s time for Christians to declare to the world, “Jesus is coming soon—are you ready?”
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