Hong Kong and UK Financial Matters


The financial news all over the world has been stressful in the past few weeks.

Now Hong Kong had a major drop:

Hong Kong stocks tumble 8.17% amid deepening global financial turmoil
Xinhua, China – Oct 8, 2008
HONG KONG (Xinhua) — Hong Kong stocks shed 1,372.03 points, or 8.17 percent, to close at 15,431.73 on Wednesday amid the worsening global financial turmoil, ignoring United States and British boost measures.

The benchmark Hang Seng Index tracked heavy overnight losses on Wall Street to open 4.14 percent lower at 16,107.98 and soon went below the 16,000 mark. It once pared losses in the afternoon to bounce back to the intra-day high of 16,422.52 but tumbled even more thereafter to close down 8.17 percent at 15,431.73.

It was the lowest for the blue chip index in over two years. The drop was one of the biggest losses for the blue-chip index in terms of either points or percentage points. http://news.xinhuanet.com/english/2008-10/08/content_10166755.htm

Notice the symbol for the Chinese word lán for desire or greed is a combination of the symbols for woman and two trees:

lá nu


= Woman + Trees

Hence, the Chinese seem to tie greed into the story of Genesis involving the woman Eve and the two trees (cf. Genesis 3).

But Hong Kong is not the only nation to have reported financial problems today.

Developed nations, in general, and  the United Kingdom in particular, are becoming a concerns:

IMF warns UK heading into recession
The International Monetary Fund has slashed its growth forecast for the UK by more than any other major country in the world, as it warned that the UK is heading into recession.
Telegraph – Oct 8, 2008

The Washington-based Fund used its World Economic Outlook to warn that the UK will contract next year by 0.1pc.

Although other institutions, including the Organisation for Economic Co-operation and Development, have also warned that the UK is facing a recession, none has predicted a full year of contraction.

The IMF warned in the report that most major developing countries are now in or close to recession, and predicted that the world economy would come within a whisker of what it classifies as a global recession, with growth of just 3pc.

It said: “The world economy is now entering a major downturn in the face of the most dangerous shock in mature financial markets since the 1930s. Against an exceptionally uncertain background, global growth projections for 2009 have been marked down to 3pc, the slowest pace since 2002, and the outlook is subject to considerable downside risks…

The UK projection indicates a recession almost comparable in severity to that in the early 1990s. The IMF also warned that unemployment was likely to rise sharply to around 6pc next year. The Fund also cut its growth forecast for this year from 1.8pc to just 1pc. However, it is the growth forecast next year which will cause most consternation. It cut its projection by a full 1.9pc points to -0.1pc.

If Alistair Darling follows suit in the forthcoming Pre-Budget Report he will have presided over the biggest ever cut in an official UK economic growth forecast, since Chancellors started putting together annual projections in the 1970s. http://www.telegraph.co.uk/finance/economics/3158810/IMF-warns-UK-heading-into-recession.html

We live in perilous times and they were prophesied to come per 2 Timothy 3:1 (see also LCG: Perils Test Our Faith).  But the end is not yet (Matthew 24:6) (see also Does God Have a 6,000 Year Plan? What Year Does the 6,000 Years End?).

But Hong Kong should do better than the UK in a while.

Articles of possibly related interest may include:

China, Its Biblical Past and Future, Part 1: Genesis and Chinese Characters This article provides information showing that the Chinese peoples must have known about various accounts in the Book of Genesis up until their dispersion after the Tower of Babel.
China, Its Biblical Past and Future, Part 2: The Sabbath and Some of God’s Witness in China When did Christianity first come to China? And is there early evidence that they observed the seventh day sabbath?
Asia in Prophecy What is Ahead for China? Is it a “King of the East”? What will happen to nearly all the Chinese, Russians, and others of Asia? China in prophecy, where?
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, British, Scottish, Welsh, Australians, Anglo-Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo nations? Why might God allow them to be punished first?

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