Category Archives: Global Markets Crisis

Chinese Economic Problems Cause Concern For George Soros

Legendary hedge fund manager George Soros has recently been discussing his concerns for the future of the global markets in an interview at an economic forum in Sri Lanka. Bloomberg has reported Soros expressed his concerns for the future of the global economy as he believes the current situation is shifting to echo that of 2008, which saw a global downturn still impacting the markets of the world to the present day. The problems of the global economy are largely being caused by the instability of the Chinese economy, but also by other factors across the U.S., Europe, and Japan that continue to cause issues within the global economy.

Soros has played an important role in the global economy over recent years, and is often cited as the financial expert responsible for the devaluation of the British Pound in 1992. Over the course of his career Soros has tried to give something back to the people of the world through his Open Society Foundations, which he uses to try and bring the ideology of democracy to people living in closed societies. CNBC have recently reported the Open Society Foundations have been barred from working within Russia as the ideology being promoted does not fit into that promoted by President Vladimir Putin.

The major problems facing the global economy can be seen in the volatility in the financial markets of the world over recent months, which include those spotted by Soros in the Chinese markets. During the last decade of the 20th century and the start of the 21st century China forced itself into a position of power across the financial markets through its market based upon investment and manufacturing. George Soros believes the markets and entire economy in China are now changing towards a consumption and service based model, which the country is struggling to cope with. George Soros used the economic forum in Sri Lanka to explain his view that Chinese officials must evolve a new way of addressing the economy to halt the problems seen with the struggling Yuan.