What is one of the worst disasters that could happen to you in our materialistic society today? Answer: To grow older than you expected.

That conclusion will surely seem perverse. Isn’t it true that lifespans are much longer today than ever before, and isn’t that a blessed thing? Yes, indeed. More grandparents have been enjoying their grandchildren for longer (though there may be less of grandkids than in previous generations). Many people have profited from an extension in their productive lives.

We still live in a culture that identifies with such phrases as, “Long live the king,” or, “May you live to a ripe old age.” Also, the Bible repeatedly refers to old age favorably … i.e., “And thou shalt go to thy fathers in peace; thou shalt be buried in a good old age” (Genesis 15:15). The expression “good old age” is found several times (Genesis 25:8; Judges 8:32; 1 Chronicles 29:28). Abraham was said to be “Well stricken in age”—not “bad stricken of age” (Genesis 24:1).

All of the above may be true; however, today in our highly financialized and materialistic world, becoming too old has become a major risk. Savers striving to build-up retirement assets to see them through their aged years, are waging a losing battle. Several new impediments have emerged in recent decades. A change in beliefs and values has occurred—therefore, also changing economic challenges.

Accelerating Global Income Crisis

Most recently, interest rate levels have fallen around the world. Spectacularly, interest rates have even become “negative” in some countries. Whoever thought that that could be possible? In a sense, the cost of retirement has inflated sharply in recent years. Why? With interest rates so low, it requires more assets today to generate the income that is needed to support a given retirement lifestyle.

Therefore, even while consumer price inflation may be low, the type of inflation that applies to the purchase price of retirement income has raged at a high pace. Few economists recognize this kind of “pension” inflation to be such an obstacle.

The fact is that any type of inflation has a distorting effect upon income and wealth distribution. There are winners and losers; and most often, the losers are the elderly or the poor.

Two other dynamics add to retirement challenges for aging societies today. Firstly, there is a surge in demand for retirement earnings because the leading edge of the ‘Baby Boom” generation has begun to enter the retirement years. In a sense, that creates a competition for a finite amount of financial income in the world. Secondly (as already alluded to), people are living longer. In other words, their longevity is increasing.

As mentioned, this should be seen as a good thing—a blessing for humans; but, not so from the perspective of an actuary. To explain, an actuary is someone who works with the probabilities of mortality, to ensure that insurance companies or pensions are laying enough money aside to cover their liabilities (i.e. the chance that people will die early or perhaps live longer than expected).

Upside Down Blessings

The big challenge for pension systems (including private retirement savings) is seen as “longevity risk.” For a number of decades now, actuaries have underestimated the increase in human longevity. People (on average) continue to live longer than these experts had predicted.

That cuts two ways. For one, the average length of retirement is increasing (assuming that the retirement age does not increase as quickly as mortality); and, the risk that one actually lives longer than expected also increases. Add to this the fact that interest income around the world has collapsed, and a global income crisis is therefore underway.

So, we see here a clash between the constraints of income economics and the general “social good” of living longer. Growing old doesn’t come cheaply, seen from the perspective of a pension fund manager living in a low-interest rate world. It all points to this rather warped, but true, reality we have identified. The biggest “negative” risk that can happen to people, is to become too old … and even worse, to become older than expected.

Not only do pension systems today creak and groan under the strains of retiree income requirements, economists sometimes lament what they call “demand deficiency syndrome,” this largely being attributable to aging populations. Given that every individual today in our hyper-charged commercial existence is valued on their future consumption potential, “demand deficiency syndrome” is the new death. It is the ultimate uncooperative act in a materialistic world that demands continuously rising stock and bond markets—to die and stop consuming.

On a serious note, as people become older, they naturally do tend to spend and consume less.  Economists attribute this to be the main ailment behind slow economic growth. None of this should be surprising, really. It all comes full circle and is evidence to the fact that financial and economic systems are indeed extensions of the human life cycle and mankind’s values, whether idolatrous or otherwise.

Practical Remedies, But Not for Everyone

So, what can we do to minimize the “financial bad” of what should be seen as a “social good” … that being to live longer lives? There are a number of options. Most obviously, people must simply save more and build up larger income generating assets, in order to generate the types of returns that are needed.

Not everyone will be able to do so, unfortunately. In any case, the math here will not work if everyone were to respond in this way. Yet, as individual decision-makers, we are not discharged from making good stewardship decisions. Above all, of course, we must first remain obedient to God’s call upon our life and conduct with material blessings.

As mentioned, there are additional options. People can choose to stay in the work force past the usual retirement age. Even income from a part-time job can adequately supplement income requirements and reduce a savings run-down. Some portfolio managers are biasing retirement investments toward countries with higher birth rates. There is a wide difference in population growth by country. For example, today, the majority of core European nations actually have negative population growth, as does Japan. On the other hand, other nations have much higher population growth. For example, India is adding 1.2% to their population every year; the Philippines 1.9% (as a comparison, the U.S. population is growing at 0.75% per annum).

Higher population growth (everything else being equal) leads to higher workforce growth, ergo higher economic growth, interest rates … etc. Ultimately, in theory, this should translate into higher income. That doesn’t always happen over shorter periods of time, but should manifest itself over the long term. Pursuing this theme, people living in lower-growth populations can attempt to glean some of the benefits of faster-growing populations.

The global income crisis will continue. If anything, it should be expected to become much more acute in future years. The challenges and fears that will be an outgrowth of these realities will contribute to wild and shaky financial markets and perverse competitive behaviors.

The Elderly: To Be Respected, or a Hindrance?

How the elderly are treated differs around the world by society and culture. For example, western societies tend to send their aged to nursing homes; Asian societies are more likely to care for the aged in their own homes. High-income nations have gradually fallen victim to the expectation that pension systems can overcome declining birth rates. Lower-income nations still depend upon extended family members to look after their elderly, although this has begun to change as birth rates have plunged.

The Bible advocates respect for the elderly. We see this principle in this verse, “Stand up in the presence of the aged, show respect for the elderly and revere your God. I am the LORD” (Leviticus 19:32). In fact, it is one of the 10 Commandments.

In the New Testament, Apostle Paul clearly advocates the same perspective, saying: “Children, obey your parents in the Lord: for this is right. Honor thy father and mother; (which is the first commandment with promise;) That it may be well with thee, and thou mayest live long on the earth” (Ephesians 6:1-3). Here again we see that “living long” is seen as good, not bad.

Generally, this Judeo-Christian perspective of honoring the elderly is broadly practiced around the world.

The Chinese even go so far as to mandate the respect of the elderly by law. Not too long ago, the Elderly Rights Law was passed, warning children to “never neglect or snub elderly people.” It even requires them to visit their elderly parents often, and threatens enforcement of fines (including jail time) for offspring who fail to make trips to see their parent, no matter how far away they might live. France also has such laws in place.

Says Jared Diamond, UCLA professor of geography and physiology and well-known author, that from a scientific perspective—i.e. natural selection—“It may under some circumstances be better for children to abandon or kill their parents and for the parents to abandon or kill their children.”

Diamond cites an extreme example of this with Paraguay’s nomadic Aché Indians. They assign young men the task of killing old people with an ax or spear, or burying them alive. While a rare example, the perspective that the elderly are burdensome to society can only arise out of a godless evolutionary perspective and extreme materialistic humanism.

It is a fact, however, that societies are becoming ever more atheistic, pro-evolution, narcissistic and materialistic. And, this is occurring in lock step with (in fact, it could be argued, because of) declining birth rates and aging populations. Only in recent years have some economists come to recognize that prosperity cannot be built up on the back of aging populations.

As such, much disappointment lies ahead for future and present retirees. Financial market trends are inextricably tied to these underlying developments. Massive financial bubbles and immoral monetary policies today, in effect are attempts to overcome these new limitations.  These efforts will only lead to great destruction and ultimately a complete collapse of financial systems.

Thoughts to Ponder

Gone are the days where “Children’s children are a crown to the aged, and parents are the pride of their children” (Proverbs 17:6).

As today’s financial perversions are attributable to worldwide godlessness, denial of Truth and transgressions against God, a final and inevitable financial collapse should be seen as part of God’s wrath and judgment upon mankind, which unfolds as the Tribulation period.

There is a small group of financial analysts that have predicated collapse for years … indeed many decades. Their analysis is not so much incorrect as it is mistimed. Indeed, economic, financial and monetary trends are on a destructive path. Any thinking person can recognize this.  However, what has been thoroughly underestimated is mankind’s capacity and penchant for delusion, perversion and sin.

Those nations that have adopted or promoted funded pensions systems face challenges. In effect, plummeting interest rates (to the point of becoming negative) is a form of disrespecting the elderly in a broader sense.

How so? Retirees tend to be reliant upon personal financial income and pension fund payments. When interest rates fall, this generally and eventually generates less income for the elderly. This is an aspect that seems to be ignored by central banks, which have manipulated down interest rates around the globe. Their intended objective is to boost the pace of economic growth.

But, in actuality, by reducing interest rates they are actually retarding economic growth. Why? Because populations are aging. There are more households or retirees relative to non-retired ones than previously.

All the above are the problems of a greedy, self-obsessed and materialistic world. Political economists try to devise solutions. But none of these sufficiently deal with the human heart. As a result, even the faithful face these same struggles and concerns.

The Bible says: “As fish are caught in a cruel net, or birds are taken in a snare, so people are trapped by evil times that fall unexpectedly upon them” (Ecclesiastes 9:12). Trials and adversities fall upon all, just as the Lord allows it to rain on both the righteous and unrighteous. “In this world you will have trouble” (John 16:33).

Pension systems overall are sure to fail … eventually. “Provide purses for yourselves that will not wear out, a treasure in heaven that will never fail, where no thief comes near and no moth destroys” (Luke 12:33).

A little more than five years ago, a 3-part series entitled “Far East Asia Trends Today” was published in this column. We discussed the prophetic implications both for and involving Asia (i.e. the collective of nations east of the Euphrates River). Already, an update is in order. Why? Events and developments in Asia have been fast-paced. Particularly, China is in much of the news these days. Rapid changes are taking place with this country that have the potential to radically alter the post-World War II geopolitical order.

As we concluded in the previous series, there indeed are some prophetic perspectives concerning “Asian nations” that can be deduced from the Bible. We will again briefly mention these. At the very least, it is reasonable to identify the rapid developments in Asia today as being “prophetically significant” … though likely not in the ways popularly speculated.

All of the five, tell-tale hallmarks of a last-day phenomenon can be observed with China: 1. An acceleration trend taking place sometime after 1948 (that being the point at which God’s timepiece, Israel, again became a sovereign entity in its original land). 2. A seeming improbability and inexplicability of the occurrence of a change … at least at first. 3. Driving factors of change marked by humanism and political amorality (including apostasy and antichrist spiritual elements). 4. A large scope for worldwide impact. 5. And, above all, suddenness and rapidity.

All of these five markers apply to a number of Asian countries, and most latterly, to China. A review of our earlier 3-part series will substantiate and convince of just how improbable and incredible the developments in Asia have been. Seen in perspective, the scale and rapidity is awe-striking.

With respect to China, Napoleon Bonaparte’s prediction could not have been more discerning. Returning from a trip to that nation 200 years ago, he uttered these now famous words, “When China awakes, it will shake the world.”

Today, hardly 40 years after China began to awake, the world is indeed shaking.

What Is Newly Afoot in China?

Many developments in China have been progressing for some time in the background. Now, these are coming to the forefront, gaining rapid recognition. For example, China has been gradually opening its financial system for several decades. All this, while the country continued to be viewed as a “developing” country” with a small and inefficient financial system. Now, all of a sudden, moves are underway for China to penetrate the ranks of the Western nations, standing shoulder to shoulder if not higher than the Roman-based, European nations that ruled the world these past centuries.

China continues to accelerate its influence upon the world. Its current President, Xi Jinping, is its most powerful perhaps since Mao Tse-tung. He has set high goals to “rejuvenate” China—to re-attain its glory experienced between the 3rd century BC and the eighteenth century. He has shown himself ruthless as demonstrated in his campaign against corruption (having netted some 100 high-ranking officials to date).

We will highlight just 6 recent developments involving China to help readers gain a perspective of the scope and potential impact of these changes.

1. Joining the World Stock Market. Recently, Morgan Stanley Capital International (MSCI) has begun the process of adding the value of China’s stock market to its various regional and global stock market benchmarks. It may require a few more years to be accomplished, though it is virtually inevitable that it will happen. Readers may not understand why this is significant. The MSCI stock market indices are yet another “accounting system” that has been dominated by the high-income countries of the world. Though China’s stock market is quite large today, it is not considered to be fully part of the world stock market sanctioned by MSCI. As such, institutional investors around the world (controlling in excess of $200 trillion in assets) consider the Chinese stock market as if it did not exist (somewhat analogous to the nation of Israel not appearing on maps taught in Arab schools).

Once the Chinese stock market is added to the MSCI indices, there will be an overnight recognition of just how large China’s stock market is (then likely representing in excess of 10% of the entire global stock market, the second largest in the world). This is remarkable. China today is still a communist nation, after all. Three decades ago its stock market was virtually non-existent. The significance of this is that China stands to gain much more economic clout in the world.

2. Gaining Recognition in the IMF. Western-based countries (and latterly, its institutions such as the World Bank and the International Monetary Fund [IMF]), pretty much ruled the world (economically, financially, geopolitically) the past 200-300 years. Voting rights in the IMF and World Bank were highly skewed in favor of the U.S. and European countries. Though China and India may have accounted for two-fifths of the world’s population, they today still only have 6.1% of the voting rights in the IMF. This is about to change, according to indications given by Christine Lagarde, head of the IMF.

3. Up the Ranks as a Currency. Earlier this year, China made an application to have its currency (the yuan) become part of the currency basket that defines the Special Drawing Right (SDR). This is a global accounting unit (a form of currency) that is employed by the International Monetary Fund (IMF).

Though China accounts for the largest portion of world merchandise trade (even exceeding the U.S.), its currency to this point has not played a significant role in these transactions. The SDR, by the way, is the ideal forerunner to a one-world currency (should this ever happen, though not certain). Founded in 1969, in a sense it has been a currency-in-waiting. As such, for a nation to have its currency as part of the SDR is an important, if mostly symbolic, development.

4. A Chinese Parallel Universe. Earlier this year, China successfully launched a new transnational investment bank, the Asian Infrastructure Investment Bank (AIIB). Fifty-seven nations signed up as founding members, including many Western countries such as Australia, Britain, Canada, Israel and others. This institution is widely seen as a counter-strike to the U.S. and European-dominated IMF and World Bank (and other) institutions. It is a very significant development.

5. Advancing in Every Avenue. China is making new forays on many fronts. Recently, the London Bullion Market Association announced that China would be joining its electronic platform that sets the world’s gold price. It will join seven existing members, including Goldman Sachs, UBS, Barclays and others. This inclusion seems long overdue given that China is the world’s second biggest gold consumer and also the largest producer. China’s role in the gold markets bears watching.

6. The New Silk Road and Marine Belt Initiatives. By far, the most significant initiative of China is the New Silk Road and great Marine Belt programs. These are both enormous infrastructure spending projects designed to benefit the entirety of Asia. The Silk Road (playing on the historic overland trading link between China and Europe) is a grand scheme to finance and build railways, trade and transportation ports across Asia. Given China’s massive currency-exchange reserves (over $3 trillion), it is in an ideal position to finance these building plans.

These investment programs could extend for decades. The end goal is to tie Asia together through mutual interest and benefit, with China at the helm. The impact could be enormous, though there are risks. China in the past has sometimes proven to be too interventionist in local politics (i.e. Sri Lanka), and has not been too discerning when cooperating with corrupt regimes.

In any case, all the above trends point to a new “parallel economic universe” that is taking form—a regional Asian bloc. It sets itself directly against the old-European, post-Westphalian world order … also anti-Anglobalization.

Where once Asian nations ascended the economic ranks through merchandise trade (mostly consumer goods) with the high-income world, their focus now becomes the export of investment as well as trade with each other (as opposed to with the West).

China is rising, as are other Asian nations. Crucially, China is pursuing policies that will serve to pull together the common interests of many Asian nations. It is conceivable that a group of aligned Asian nations could take form that would fulfill the emergence of the “kings of the east” that are mentioned in Revelation 16:12.

Just what is the outlook for Asia according to Bible prophecy?

Prophecy Explaining Asian World Threats

Overall, there are not many references to “kings of the east” and/or Asian countries in Bible prophecy. However, there is at least one significant verse in the Bible that applies to some key Asian countries, where they are not mentioned at all. It is found in Revelation 17:12. It supports an important deduction about some Asian nations, and reads: “The ten horns you saw are ten kings who have not yet received a kingdom, but who for one hour will receive authority as kings along with the beast.” Just how does this verse connect to Asian countries today?

The verse we have quoted from Revelation specifically refers to these last-day 10 kings, and reveals a crucial clue. John, the Revelator tells us here that these 10 kings “have not yet received a kingdom.” This means that neither the kings nor their kingdoms referred to in this verse had yet existed either at or by the time that Apostle John wrote the Book of Revelation (approx. 90-95 AD).

As such, we can validly draw some conclusions from Revelation 17:12: Any nation today that existed at or prior to the time of John’s prophecy, therefore, cannot qualify as one of the 10 final kings … in other words, one of the final 10 nations. If we apply this rule, it reveals that nations such as China, India, Persia and others will not be part of the final 10-king world power coalition.

China already existed in New Testament times. According to historians, the Han Dynasty, a predecessor to modern-day China, was in power at the time of John’s prophecies. The same may be concluded for the nation of Japan today. As already mentioned, the nation of “Hodu” (India) had already existed, as the book of Esther confirms. Crucially, therefore, we discover here that none of these large and influential Asian nations will be part of the last-day rulership represented by the 7th head of the beasts shown in Revelation 12, 13 and 17 … the 10 kings.

What light could this information possibly shed upon our times today? Without a doubt, there indeed will be “kings of the east” that fulfill their action as described in Revelation 16:12, confirming their existence at that time. However, these nations will in the end be dominated by the 10 kings, as the 7th head that they represent is the final power that then has dominance over the entire world with the Antichrist (See Daniel 7).

Beyond the certainty that these nations will not be part of the world ruling order at the time that the Antichrist achieves global control, we can only attempt a few additional speculative conclusions.

A scenario that appears plausible is that the formation of the final 10 kings may very well be a counter strategy to the perceived threats or non-aligned perspectives of other global players, these very possibly being the “kings of the east” who are growing in power. There is no doubt that China is strategically placed geographically, allowing it to become a naval and economic power that can control and coordinate much of Asia. A number of geographers and geo-strategists have long thought this to be the case. As it happens, China today has sharply increased its naval capabilities.

Thoughts to Ponder

Today, China is often mentioned in the same breath as America. It is now popularly perceived that these are the two biggest powers in the world. These two nations are seen to be adversaries by many international relations (IR) scholars. George Soros, the multi-billionaire philanthropist (and ex-hedge fund manager) recently struck an urgent warning that these two nations are on course for a world war if they do not first reach an “understanding.”

China is clearly striking its own course, choosing to build relations with “non-aligned” nations such as Russia and others, while building a cooperative of economically-linked Asian nations. China’s military budget has risen at double-digit rates for well over 20 years. According to estimates of some experts, China’s military budget is more than 40% that of the U.S. (Others argue that China’s effective military spending is the 2nd biggest in the world, soon to exceed U.S. expenditures.)

Interestingly, the “Chinese diaspora” that occurred over the course of the past century, as a result of various revolutions and persecutions in China, has (by happenstance?) contributed enormously to China’s sudden economic flowering over the past three decades. This writer has long-wondered about the significance of this development (in appearance, similar to the plight of the Jews). Though the ethnic Chinese are minority populations in Asian nations (other than China, Taiwan and Hong Kong), they represent the majority of the business class and wealth in these nations. These “family” business networks of dispersed Chinese have proven indispensable in the sudden development of trade with China and Asia overall.

While America is seen to be challenged by China (and lately, seemingly falling in world influence), it would be more balanced to view the world as separating into camps. It would not be overly speculative to identify a trend toward a coalition of “kings of the east.” These nations at one point do rise up, charging west across the Euphrates. Scripture seems to indicate that the Kings of the East are shown to be an opposition force. The catalysts may be economic or geopolitical. The Bible is silent on these matters.

The 10 kings, on the other hand, come together to collect power, to then give it to the Antichrist. The Bible tells us that, “These have one mind, and shall give their power and strength unto the beast” (Revelation 17:13). It is possible that the specter we see developing in Asia today could very well be the world power dynamic that hastens the formation of the 10-king coalition. If so, the time may already be very short.

What we can know is that these geopolitical upheavals occur inside the 7-year Tribulation period. The forerunners of such great geopolitical events will surely already be visible before that time period. Therefore, the generation living during this time will certainly witness these developments. Could that already be our generation? It is highly possible (though, obviously, not certain.)

Finally, we again recall that China will not be part of the 10-king coalition that rules the world briefly during the last rule of the 7th head (shown on the image of the beast in Revelation 17) just prior to the Tribulation period. It therefore has been the conjecture of this writer that a rivalry will form between the collective of these 10 Roman-derived nations and another rising power in the world (the Kings of the East?), which spurs them to pool their powers together. Time will tell. However, one aspect that can be validly concluded is this: The Kings of the East will not be in alignment with the rule of the 7th head—this being the 10-king Roman-derived collective.

As such, that era could very well already be upon us today. We most certainly do not want to “[…] go beyond what is written” (1 Corinthians 4:6). Yet, without a doubt, we live during interesting times, marked by many phenomenal and unprecedented developments. Jesus Christ charged us to “watch.” We can discern the season (though not the timing and detail) of the last days and say Maranatha, Lord come!