Born in 1947 in Budapest, George Soros fled from Hungary to the United Kingdom in 1947. After settling in the United Kingdom, he later joined the London School of Economics from where he graduated with a bachelor’s degree. George Soros then moved to the United States, where he established the international investment fund movement. He also developed the open society movement network through which he has been able to champion for the human rights and transparency in the society. Soros is also an author; he has written many articles and essays touching on different issues in the world. Through his long-time involvement in the business field, he has been able to acquire a lot of experience on matters regarding the economy.
His articles and essays have been broadcasted in the major newspapers and magazines like Bloomberg across the globe. Soros teachings and views on various issues facing the current global market have made him famous among many people in the world. His current view on the current crunch that is confronting the world market has attracted attention from all over the world. The business guru has stated that the current crisis that the global market is going through since the beginning of the New Year is a reflection of what was there back in 2008. He states that the current situation could end up being even worse than what was seen back in the 2008 catastrophe. George used an economic forum that was based in Sri Lanka to caution investors to pay more attention to the current trends in the global market. The expert also talked about the current crisis that the currency of China is going through. The challenge the economy of China is going through is threatening to become a global issue. Developing world countries are not in a position to get themselves back into the positive interest rates, and this is affecting the global marketplace.
The commodity markets, stock and the global currency are not growing since the beginning of the New Year. China’s economy is now threatening to cripple due to the devaluation process of the Yuan currency. Consumption and services are now shooting up than the investment and the manufacturing industries. China’s inability to adjust to the changing in the economy is threatening the whole global economy. Soros is reported to have predicted the reoccurrence of the 2008 catastrophe that hit the global market. He stated that the Greece-born European debt should worry investors as it could end up becoming a bigger issue than what was experienced back in 2008. The billionaire has built his reputation since 1992, and this has seen him gain a large following all over the world.
Despite the challenges being faced by China, the Communist Party of China has promised the people to increase the exchange rates of Yuan by the year 2020.