What are some of last year’s really important benchmark events and trends? How does the Bible pass judgment on these happenings today?
by John Ross Schroeder
Last year was heavy with happenings of great significance. We selected five of the most crucial trends that will inevitably shape our future world during this age of man.
Number one: The erosion of American power
Fifteen years ago the Cold War ended and the Soviet Union collapsed as a major superpower. The United States reigned supreme as a superpower perhaps without precedent in all of world history. In the aftermath of the demise of Soviet power over Eastern Europe, President George Herbert Walker Bush spoke of a new world order and even of a kinder, more compassionate America.
Yet today the United States is perceived by many observers as a declining power in the world. The war in Iraq has been stalemated for now and the war in Afghanistan is heating up again. Iran and North Korea threaten to become aggressive, dangerous members of the nuclear club.
Strenuous objections to potential Iranian nuclear weaponry by both America and Israel have been virtually ignored for a long time. Now the United Nations has finally acted, at least in part.
According to The Sunday Times: "By unanimous vote, the security council banned exports of nuclear-related technology and materials to Iran, ordered a freeze on overseas assets held by Iranians involved in nuclear research and placed limited restrictions on their ability to travel abroad" (Dec. 24, 2006).
On the financial front, London and Hong Kong have captured valuable business from New York City—long the world's financial capital.
The Associated Press reports that corporations making their initial public offerings (IPOs) of shares preferred these investment hubs to New York for two primary reasons. First is the stringent accounting rules the United States has put in place to lessen white-collar crime (it's easier for companies to go elsewhere than to meet these regulations). Second is the booming Chinese economy.
