When a billionaire talks, one listens. When a billionaire makes a prediction it’s a sure bet. George Soros is a sage investor and knows global business, so take heed China. China has many of the same tribulations as the United States (U.S.) did in the year 2008. The average onlooker can see this copycat trend between the U.S. and China. The U.S. had a growing population; it had a large manufacturing industrial age. The U.S. collected debt, and then it had a financial crisis in 2008 on http://www.profitconfidential.com/economy/economic-collapse-george-soros-delivers-grim-warning-for-investors/. It is not surprisingly George Soros notices the similarities; it would take a purblind oligarchy not to notice. He has said China’s past credit and growth statistics are indicators of pending doom.
George Soros is not a charlatan psychic palm reader quoting an enchanted crystal ball; he is a financial specialist and is forecasting China’s future. He is a billionaire, ranked number 23 on Forbes world list. George Soros started making money in his prime youth in the 1950s with hedge funds. Thereafter, money started poured in George Soros financial buckets like a rainstorm. So, one does not get to be the top tier money maker in the world on https://www.opensocietyfoundations.org/people/george-soros for being shortsighted; he knows his stuff. His stuff is money. Consider if every living, breathing person on the plant donated one U.S. dollar to a fund account, it would not match Gorge Soros’s $23 billion dollar net worth. There are 7.4 billion people living on planet Earth. George Soros has three times more money than the world population.
So understandably China’s government is sour to Gorge Soros’s newsflash, but he says the prediction is inevitable. To his credit Soros points out that China’s banking configuration shows more money going out than in; it’s upside down financially. He considers the Chinese deficit may struggle for a few more years; but, it will falter even though some progress is being made in China’s housing projects on http://www.nybooks.com/contributors/george-soros/. He also adds that human-provider services are good; but service oriented businesses do not make financial gains like manufacturing products. He cites the Chinese’s are skeptical about their economy and put their money outside the county. The savvy Chinese investors diversify their assets.
Consequently, some Asian financiers agree with Mr. Soros. They too are concerned about China’s debt growth. Some Asian economists worry about China’s government not taking a more active role in economic improvements. The debt is not supported economically and so the bottom is likely to fall out. Even when the topmost Chinese financial gurus talk about their economic predicament they are humbling. They have no reassurance that any type of stabilization program will help. No real promise is given from the Chinese government to augment the economy either. So China, get the economic umbrella out and watch for the financial storm.
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