George Soros Shares His Perspective On The Similarities Of The Current Market Crisis And That Of 2008.
For a long time, the European Union has been the cream of the world trade and regional unity. The Euro, the currency of the European Union, has been stronger than most of the currencies of the first world countries for quite some time now. But soon this might not be the case anymore. The European Union is caught up with numerous crisis at the moment that is threatening its unity and the strength if the Euro. The major problem that the union is facing is the Ukrainian crisis, where Russia is attacking the country. The existence of this crisis means that the European Union has lost control of its member states. This crisis threatens to divide the union into two factions. One faction supporting Ukraine and the other supporting Russia. There is also the current economic crisis that is affecting the world.
The current economic crisis is caused by China’s change in its economic growth model. China’ s currently relies on the manufacturing and production industries for it’s economic growth. The country is attempting to move on to a new model that relies on the services and consumption industries. This change has a very bad effect on the global markets as it has lead to instability of Chinese equities. Europe, which is badly affected by other crisis, will not be stable enough to go through the crisis if it does not act fast to resolve its internal crisis according to George Soros. He advises that the European Union works on the internal issues affecting it like the Ukrainian crisis, the Syrian crisis, the Greece debt problem and the British referendum if it wants to survive the crisis. Read his profile at Forbes.
George Soros is a very successful investor, entrepreneur, business person and philanthropist who is worth over $27 billion. This is the worth he has been able to acquire from his business enterprise, Soros Fund Management, one of the best hedge fund firms in the world. George Soros was born in Hungary, but later moved to the United Kingdom and later settled in the United States. He is one of the most prolific investors who has made billions of dollars through his investments. He is also a philanthropist who is concerned with promoting a democratic world. He founded the Open Society Foundation, an organization that supports democratic movements all over the world.
George Soros is also an economic analyst and a critic of poor economic policies.
George Soros says on Bloomberg that from his long-term experience in the business field, he can confuse that the current economic crisis and the 2008 crisis are similar. There is an increase in rates of interest in developing countries, and there are instabilities in the global stock markets. He asks investors to invest with extreme caution during this period of crisis.