What’s happening in China right now is downright frightening. In the past few days, the following startling developments have come to light:

•    China’s air force just staged its largest-ever drill. The exercise involved more than 100 pilots engaging in dog fights and electronic warfare.
•    Beijing has banned U.S. regulators from auditing nine Chinese companies, putting all American companies that do business in China at great risk.
•    And amid out-of-control corruption scandals, China’s new leadership is attempting to reinvent its global image, but intelligence suggests there is unlikely to be any substantive reform.
•    Clearly, there is a growing mistrust between the United States and China as tensions continue to escalate.

The special intelligence panel was led by Gen. Michael Hayden and Gov. Jon Huntsman, a former U.S. ambassador to China. Both agree the level of corruption in China is a deep and endemic problem that could have a major economic impact on America.

Hayden: “I stand back in awe about the Chinese espionage efforts against the United States.”

Huntsman: “They have manipulated their currency. There is no doubt about that.”

During the LIGNET briefing, the panel also addressed:

1.    The implications surrounding China's erratic changes in leadership
2.    China's "unprecedented" skill at economic espionage
3.    How some Americans are being tricked into investing in fraudulent Chinese companies
4.    Why the U.S. had better keep a "close eye" on the Chinese military
5.    How China plans to "stride the world" and surpass the U.S. as the global economic superpower
6.    The impact of China's sudden military expansion and cyber-warfare capabilities
7.    The possibility China will move to seize control of the South China Sea and why
8.    The impact of China's worldwide currency manipulation
9.    The immense investment opportunities in China
10.    Why China's access to raw materials is a major issue

What transpires between the U.S. and China could have dire consequences for America and unimaginable economic implications.

Please keep China, its growing Christian movement in the tens of millions, and its relationship with the USA in your prayers. Pray for a strong friendship between these two leading countries and that conflict will be averted.