George Soros spoke at an economic forum in Sri Lanka’s capital regarding his perspective on China’s current policy of devaluing its currency. Bloomberg reports that Soros is raising a warning flag to the world that this policy is very problematic and could signal a global economic crisis similar to what the world experienced in 2008. According to Soros, investors should be very cautious for the time being as China struggles to reinvent its economic footprint on http://www.bloomberg.com/news/articles/2016-01-07/global-markets-at-the-beginning-of-a-crisis-george-soros-says in the global economy. Soros explained that China is now shifting from a manufacturing economy to one based on services and consumption, which is a major shift in the global manufacturing paradigm. Given that China is the second largest economy in the world, George Soros warns that its government’s challenges in cutting interest rates and trying to stabilize its currency could spell disaster for the global economy overall. In addition, Soros advised that, from his bird’s eye view of the global financial markets, he is seeing similar trends to that of the disaster of 2008 and thinks that investors should brace themselves for a total market nosedive. George Soros has also previously issued warnings about the European debt problem, in wake of the economic turmoil going on in Greece.
Soros is widely consulted for his advice and perspective on global market trends. Soros has experienced incredible success on https://www.facebook.com/breakingpolitical/posts/1562000144097945 at the helm of his own hedge fund, Soros Fund Management. In fact, according to the rankings by Bloomberg Billionaires, Soros is now considered one of the thirty richest individuals in the world. Soros’ breakout success in finance and investing was tied to his ability to understand the currency market in England in 1992, when he took the chance on the short sale of $10 billion worth of pounds. Because of his personal financial success based, in part, on his ability to read overall market trends, Soros is regarded as a highly credible source on the direction of the global economy and long term investment advice.
Although George Soros is probably most recognized by his astounding financial worth, he has also become known as a famous philanthropist. Through his work with the Open Society Foundations, Soros has consistently supported liberal and progressive causes around the world. Even as far back as the 1970s, Soros helped fund Black students’ education in apartheid South Africa. Since then, he has used his financial success and international platform to advocate strongly for human rights, freedom of speech, human development and economic growth in the areas of the world where it is needed most. He speaks openly about supporting immigrant rights and solving the refugee crisis currently plaguing Europe. Soros is also an accomplished writer and has published over a dozen books on a wide range of topics, including financial and investment strategies, world politics, social issues and economic analysis. He also writes frequently in a variety of other print publications on a broad spectrum of current topics.