A financial meltdown in China is currently the leading competitor for “Next global financial crisis that will definitely screw you somehow, even though you don’t have that much money.” We currently understand that GEORGE SOROS is betting on China’s collapse as well.
Soros is famous for generating a billion bucks betting against the British pound, so uh.. he likes to wager against things, for money. (Technical finance term). He’s a multi-billionaire, one of the originators of the hedge fund industry, and a heavy political donor. He has also semi-retired, so any investment moves he makes draw a great deal of examination.
And the Wall Street Journal accounts that he’s jumped back into the trading game particularly to bet on an impending global economic decline. He’s piling into gold! He’s selling off stocks! And, most of all, he’s betting on a dysfunction in China:
“China continues to suffer from capital flight and has been depleting its foreign currency reserves while other Asian countries have been accumulating foreign currency,” Mr. Soros said. “China is facing internal conflict within its political leadership, and over the coming year this will complicate its ability to deal with financial issues.”
Mr. Soros worries that new troubles will arise in China partly because he said the nation doesn’t seem willing to embrace a transparent political system that he contends is necessary to enact lasting economic overhauls.
It would be amazing for the Chinese government to promptly become fair and transparent and well-run to avoid an economic disaster just to demonstrate to these billionaires what’s what, and also to avoid an economic disaster.
Feel free to leave a comment. We would like to know what you think.