George Soros on the Markets
Investor George Soros has predicated that the current situation is reminiscent of the 2008 financial downturn. He said China is struggling to find a new financial model as it shifts away from manufacturing and investment and into consumer services. Commodity markets are on a downturn and Soros believes there could be a problem.
George Soros is the founder of Open Society and has written books on the financial markets and recent events , He left Communist Hungary after WW2, got educated in the UK and worked on Wall Street. He made money in the markets including on currency transactions. Soros has done work in Philanthropy including setting up a foundation for black students to study in Cape Town University in South Africa.
He is influential in politics as a democratic contributor and has opinions in the world of finance and politics.
He says China’s currency devaluation is hurting countries. He says this as China cut interest rates to record lows and pumped large amounts of money into the economy. He has written and lectured on financial markets and is considered a knowledgeable figure in the commodity and currency markets. Recently he has also turned his thoughts to the European Union and believes that it could be a changing situation- he talks about the consequences of countries leaving the Euro and says the situation with the currency was not inevitable.
He still believes the European Union is a model for an open society has positive predictions for the future. He conducted a series of interviews with George Peter Schmitz where he outlined his views on the European Union and euro currency. He also Xenophobia and elections and says the EU’s situation is important to the world. Soros therefore is an influential figure whose knowledge of global politics and finance has bearing on the markets.