Worldwide Economic Collapse:
Jesus said the coming of the Son of Man will be just like the days of Noah (Matthew 24:37-39). The thing about the days of Noah is that even in the midst of terrible apostasy, evil, violence, and rebellion against God, the people went ahead with their normal lives. They planted fields, they harvested crops, they built houses, they got married, and they had children. They went about business as usual, until the very day that Noah entered the ark, and then destruction came and took them all away
1 Thessalonians 5:3 For when they shall say, Peace and safety; then sudden destruction cometh upon them, as travail upon a woman with child; and they shall not escape.
Revelation 13:16-17 And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.
Japan-South Korea dispute is called ‘disturbing and unhelpful’ for the global economy. ‘Business as Usual.’ Relations worse since 1965.
PUBLISHED TUE, JUL 16 2019 1:50 AM EDTUPDATED TUE, JUL 16 2019 4:51 AM EDT
The dispute between Japan and South Korea is “a lose-lose proposition” as it comes amid an ongoing global trade war that the U.S. and its trading partners are embroiled in, an economist said on Tuesday.
Tokyo and Seoul have long had political disagreements stemming from Japan’s conduct during the second World War. The dispute between the neighborsspilled into the economic arena when Japan earlier this month restricted exports of materials critical to South Korea’s high-tech industry, citing national security concerns.
Japan and South Korea are large exporters of products such as chips and smartphone displays. An escalated trade fight between the two could be bad news for the global technology industry and consumers may end up having to pay more for products.
“This development that we’re seeing now is disturbing and unhelpful for the global economic sentiment. To begin with, we already have so much around the trade war between the U.S. and the rest of the world,” Taimur Baig, chief economist at DBS Group Research, told CNBC’s “Squawk Box” on Tuesday.
He added that Japanese and South Korean companies have spent years building up “intricate” supply chains, and it’ll be “so hard to redo” such arrangements when trust among all those involved has been breached.
“It doesn’t help anybody,” he said. “To me, it’s a lose-lose proposition.”
Baig is not the only one who has warned about a potential disruption to the technology supply chain. Troy Stangarone, a senior director at think tank Korea Economic Institute of America, said prices of semiconductors could rise if South Korean manufacturers cut production as a result of Japan’s trade restrictions.
That higher cost may be passed on to consumers, some experts warned.
Categories: Economic Collapse