Now Entering Russ's World
In the last few months, George Soros has been at his most outspoken as he attempts to warn world leaders and investors of the problems he fears will strike the global economy on marketwatch.com if the problems facing the world markets are not addressed. Soros has explained the problems he has seen in the refugee crisis in the European Union and how Russia is playing a pivotal role in this problem; George Soros has now turned his attention to the growing problems he feels could follow the ongoing debt problems that are affecting the Chinese economy.
This is not the first time George Soros has been critical of the Chinese economy and recently discussed the chances of a global economic collapse that would be contributed to by failures in the Chinese economy; Soros stated his belief that China was failing to handle the change from a manufacturing based economy to a consumption based market effectively. The issues on georgesoros.com originally raised by Soros appear to be correct after a number of financial experts backed his thoughts on the Chinese economy resembling that of the U.S. prior to the global slowdown of 2008.
George Soros and other financial experts have joined together to explain their belief that China will be unable to continue to function as it does in the present with high levels of debt taken on at all levels. Not only has the world’s second largest economy on http://www.nybooks.com/contributors/george-soros/ been seeking ways of propping up its markets with an influx of funds using its high credit rating. Alongside the problems caused by the growing issues of government officials failing to handle economic problems, officials at consumer banks are also facing their own share of the blame for their failure to stem the growing tide of loans issued within the country. Chinese financial institutions have recently seen the number of loans provided outstrip the number of deposits made to banks, which is reminiscent of the events in the U.S. that led to the economic slowdown of 2008.