One of the consequences of the financial upheaval of the past 18 months is that Europe is now richer than North America. The accumulated national wealth of North Americans has dropped by 21.8 percent while Europe's fell by only 5.8 percent, "down to 22.2 trillion euros—a quarter of the globe's total wealth" ("Europe Now Richer Than North America," BusinessWeek, Sept. 16, 2009).
Since great wealth is necessary for global power, could Europe be on the verge of taking over from the United States?
Bible prophecy shows that a new, European centered superpower will exist immediately before Jesus Christ's return. It will be a great commercial system whose trade dominates the world.
It's no coincidence that all 27 member countries of the European Union have signed the Lisbon Treaty, uniting Europe more than ever before with its own president and foreign minister collectively representing all member nations.
Its currency, the euro, is now valued at 1½ times the U.S. dollar and is used by more people. With more than 500 million citizens, the EU is the world's biggest single market and by far the world's greatest trading power. Having now surpassed the United States in economic power, could it soon replace America as the world's foremost political and military power?
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