China is one of the BRICS (Brazil, Russia, India, China and South Africa) alliance of nations. They continue to take steps to dethrone the dominance of the USA dollar:

May 15, 2024
BRICS nations—Brazil, Russia, India, China, and South Africa—introduce a groundbreaking gold-backed trading currency, … This significant move, challenging the dominance of the U.S. dollar, marks a pivotal step towards economic sovereignty and resilience, reflecting the prudent principle of building on solid foundations. … Expected to be detailed further at the upcoming BRICS summit in South Africa, this initiative underscores a global trend towards reevaluating ‘safe haven’ assets. https://www.prnewswire.com/news-releases/american-independence-gold-reaffirms-commitment-amid-brics-move-towards-destroying-the-american-dollar-302145787.html
Dedollarization: BRICS is getting ready to give the dollar a run for its money
May 15, 2024
The upcoming BRICS meeting in Russia will give top priority to the dedollarization agenda and take steps to further decrease the dependence on the US currency in cross-border trade between the nations. BRICS is currently exploring strategies to undermine the use of the dollar in worldwide corporate transactions. …
China, the second-largest global economy, is rapidly reducing its ownership of US Treasury bonds while simultaneously boosting its gold reserves. According to figures issued by the US Treasury on Wednesday, Chinese ownership of US Treasury bonds decreased to $775 billion after seeing a decline of $22.7 billion in February and $18.6 billion in January. In February, China remained the second-largest holder of US government debt. However, China’s holding of US government debt has been below the $1 trillion mark since April 2022.
With the onset of the global dedollarization trend, numerous countries have expedited the process of diversifying their reserves by augmenting their gold holdings and adopting local currencies for international transactions.
According to data released by the People’s Bank of China, China’s gold reserves rose to 2264.87 tons in the first quarter of 2024, up from 2235.39 tons in the fourth quarter of 2023. A country’s central bank holds or controls its gold reserves.
China’s foreign exchange reserves reached a record high of $3.246 trillion as of March 2024, making them the largest in the world. The Chinese economy experienced a significant increase of $19.8 billion in February 2024, surpassing market expectations. This growth will contribute to maintaining the overall stability of the country’s foreign exchange reserves.
Interestingly, the US ally, Japan, is also dumping the dollar precisely because of the decline of the US economy and exchange rates, given the stunning internal and external debts. https://english.almayadeen.net/articles/analysis/dedollarization–brics-is-getting-ready-to-give-the-dollar-a

Yesterday’s announcement by the Biden-Harris Administration to greatly increase tariffs against the China will further motivate the Chinese to move away from the USA dollar (see Joe Biden hits Chinese electric cars with 102% tariff ).

Before the tariff increase was announced, notice the following that was posted related to China:

Make China Great Again!
The mass media and Wall Street have been speculating on a devaluation of the Chinese Yuan over the past 12 months. However, investors have to understand that the CCP will sacrifice everything to keep the chart above going. This is the path to de-dollarization and thus to financial freedom. Getting out from under the USD’s dominance will finally mark the end of the “century of humiliation” in which foreign powers dictated their way to China. Foreigners must understand Xi’s desire to be a “great power” once again. China will likely be the first great civilization that collapsed, dusted itself off, and came back. Rome didn’t do it. Neither did the Ottomans. Nor the Egyptians. Nor the Persians.
A country can’t be a great power with a weak currency. And you definitely cannot be a great power if you settle your trade in your rival power’s currency. Western investors have to understand that the Chinese people have a greater ability to endure suffering for their future prestige than Westerners can comprehend. In that context, Xi will impose all the pain in the world on the Chinese economy before devaluing meaningfully. Not that a devaluation solves anything anyway. China already has a massive trade surplus, and other countries are putting up trade barriers because it is so competitive. The way Xi can address the current domestic crisis is to turn the PBoC into the new Bundesbank of the Global South. Western investors have complained over the years that the PBOC doesn’t ride to the rescue of their stock market. But that’s not the game Xi is playing. Xi wants the Yuan to be the Deutsche Mark of emerging markets. You don’t get to be that by bailing out the stonk monkeys. You get to be that by having a strong bond market and a strong currency. People have had China wrong for ten years and continue to do so because they can’t imagine a world in which the central bank doesn’t bail out corrupted bankers. …
China is using same playbook as US post 1945:
Marshall Plan = Silk Road fund/OBORAsia infrastructure investment bank = World BankWTO = BRICS
First, you lend the people the CNY they need to buy your capital goods (in 1945, it was Caterpillar; today it is LongHe machinery). Then you tell them that they can earn the CNY they need by either selling you cheap assets (i.e., JP Morgan buying its headquarters on the Place Vendôme for a song in 1958) or by selling you cheap goods. When the latter happens, you start to move into a trade deficit. But that’s still way down the line for China in its trade with the Global South.
With US imports from China declining structurally in a more bipolarized world, it would not make any sense for the PBOC to devalue the Yuan against the USD, as China is increasingly focused on becoming a reliable trading partner of the global South in general and ASEAN in particular. …
the weaponization of the USD … has been the major trigger for China to structurally reduce its holdings in US Treasuries and increase its physical gold holdings.
Indeed, while Western investors have been piling into the YOLO-driven cryptocurrency trade, Chinese investors have been accumulating physical gold, likely due to their longstanding tradition of viewing gold as a crucial asset to own for rainy days and as a legacy to pass on to heirs …
Similar to Russia, US administration has tried to stop China’s economic growth by imposing sanction on transfer of technology as part of its trade war with China. These decisions have proven highly ineffective in curbing the technological advancement of the country so far. China’s technological progress is grossly underestimated by Western powers which tend to still think they will dominate the World forever. https://www.zerohedge.com/news/2024-05-12/make-china-great-again

China has been accumulating gold.

China has indeed been rising in many areas.

But the West, in this case meaning continental Europe, is not going to fall to China economically.

We put together the following video on our Bible News Prophecy YouTube channel related to China:

15:02
China’s Rising, But …
China has risen to be recognized as a major economic power this century. A motto of China’s President Xi Jinping reportedly is “The rise of the East, and the decline of the West.” This rise of China has been concerning many in the West. Is China or Europe prophesied to economically-dominate the world before Jesus returns? What about “peak China”? Did Peter Zeihan say that China might collapse in ten years? Might China’s hukou system contribute to social unrest and other problems? Does the United Nations forecast that China’s population will drop by 620 million people by the end of this century? Has Europe been taking steps to reduce China’s influence in Latin America? Dr. Thiel and Steve Dupuie go over these matters.

Here is a link to our video: China’s Rising, But …

The BRICS nations want to topple the dominance of the US and its dollar.

Notice the following which is in my book Lost Tribes and Prophecies: What will happen to Australia, the British Isles, Canada, Europe, New Zealand and the United States of America?:

Those in Iran and some of the Arab lands, along with nations such as Brazil, China, and India have discussed plans for the removal of the dominance of the U.S.A. in global trade as well. The former (again current) President of Brazil, Luiz Inácio Lula da Silva, even claimed that eliminating the U.S. dollar’s reserve currency status was one of the reasons that the BRICS alliance (Brazil, Russia, India, China, and South Africa) was formed in the first place. [i] Others have noted that bypassing the USA dollar is still an object of BRICS—and officially BRICS nations “are currently working on setting up a new global reserve currency,”[ii] which may have gold-backing.[iii] The expansion of BRICS (which is in progress) may ultimately even hurt Australian trade as well as “severely weaken primacy of the US Dollar as an international currency.”[iv]
The Bible clearly warns against cheapening the money supply and encourages having money hold its value (Proverbs 25:4 Isaiah 1:25, Ezekiel 22:18-22). Debt is also warned against (Habakkuk 2:6-8). Yet policies enacted under the Obama, Trump, and Biden Administrations, following certain other administrations, have ignored these warnings.
[i] Escobar P. BRICS was created as a tool of attack: Lula. Asia Times, August 28, 2019
[ii] BRICS developing new global reserve currency – Putin. RT, June 22, 2022
[iii] Helms K. Economists Discuss Russia, China Potentially Developing Gold-Backed Currency. BRICS Information Portal, November 11, 2022
[iv]Hunter M. BRICS Is Becoming The Big Kid On The Block: Implications For Australia – Analysis. Eurasia Review, November 1, 2022

One day the US dollar will be toppled. But let me add that the Bible teaches that a coming European power will accumulate gold too (cf. Daniel 11:38,43; see also The Plain Truth About Gold in Prophecy. How Should a Christian View Gold?).

Much of the world is moving towards a type of integration that will result in the final time of the Gentiles (Luke 21:24; see also The Times of the Gentiles) and the end of Anglo-American dominance.

Based upon several biblical prophecies, I have long written that the Asians and Europeans will cooperate, for a time, and eliminate the USA and its Anglo-Saxon descended allies. They will divide their lands among them per Daniel 11:39, and many of the survivors will be made slaves (for more details check out the article Will the Anglo-Saxon Nations be Divided and Have People Taken as Slaves?).

It should be added that part of the purpose of the Euro was to bypass the USA dollar for international trade. And, that has happened completely within the Eurozone block in the EU. Plus, the Europeans are also increasing their military spending.

Steps towards pushing away the Anglo-American dominance of the world for the past couple of centuries is happening.

As Jesus said: “And what I say to you, I say to all: Watch!” (Mark 13:37).

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