George Soros States Struggling Chinese Economy is Eerily Familiar
If you don’t know who George Soros is, he is one of the richest men in the world, racking up his staggering net worth of just over twenty seven billion dollars on http://www.nytimes.com/topic/person/george-soros through wise investments and his hedge fund firm. His hedge fund firm grew at a solid twenty percent throughout the majority of his career, and his solid understanding of the economy has made him a truly wealthy man. However, the bulk of George Soros’ success has really come from analyzing the current economies and monetary systems in the World, and using that developed skill to make a lot of money. He made a cool billion dollars by predicting that the United Kingdom was going to have no choice other than to devalue their pound. This prediction and decision is important when it comes to talking to George Soros, because he not only predicted that the UK was going to have to devalue the pound, but he put a huge amount of money on the line to back that prediction.
George Soros came out before the 2008 economic disaster that has caused so many problems in the United States, as well as other areas of the World. At the current moment on https://www.facebook.com/breakingpolitical/posts/1562000144097945, China is facing major problems economically, as they are struggling to figure out a way to expand and is seeking out a growth model that will rectify their situation, but things are not looking good for them. They are devaluing their currency, which is directly going to affect the economies of countries all over the World. China exports massive amounts of products to the entire Western World and the fact that a huge amount of countries do business with China, coupled with their devaluation of currency and economic growth problems, there very well may be catastrophic events in the future.
George Soros has stated that after analyzing the current situation in China and the rest of the World that it is very reminiscent of what took place in 2008. Because of this, he asserts that it really does appear to be a crisis and has warned investors to really think hard about any type of investments that they may make during this time. Soros also warned in 2011 that there was a bigger threat of crisis than in 2008, which was rooted in Europe, but things did not end up being as bad as they could have been. In essence, there was a greater problem in 2008, but a major crisis ended up being for the most part avoided, but that does not take away from the fact that George Soros was right about the potential of a disaster. The current situation in China is absolutely troublesome, and without approaching it the right way, there is no question that we could end up ultimately experiencing a disaster as big, or potentially bigger than in 2008. When it comes to accurate predictions, Soros has been on point, so it may be a great idea to keep an open ear out to what he has to say.