The global crisis of 2008 was a time when nearly every market in the world collapsed on itself. Nearly every country in the world went into recession, and the crisis lasted for several years afterward. George Soros is the man who famously made a billion dollars trading on the British pound, and he is a financial genius who sees similarities between today and 2008. This article explains George’s feelings as expressed in an article by Bloomberg.
#1: George Is Not A Fan Of Avoiding Problems
George Soros is able to point at specific things that happened in 2008 that had lingered for a long time. Every one of these problems is occurring in the world today, and George does not understand why analysts do not see the parallels. He has spoken to international groups about his views, and he is using his voice to bring attention to the problems people in power must address.
#2: Why Are The Chinese Faltering?
China has been growing for nearly two decades as they became an industrial power, but the country has not changed its growth plan. The growth plan in China must change to match the times, and George remembers when they did not change in time for the 2008 crisis. China is the most important economy in the world as it affects every other economy in the world. Their currency known as the yuan must be fixed, and George hopes that their government will move faster in this current iteration of the problem.
#3: The EU Is Falling Behind
The EU Falling behind the times as it fits the migrant crisis, pays off the Greek debt crisis and suffers through growing pains. Half the countries in the EU want to leave because it is managed badly, and George wants to see leaders in Europe make changes to the way they manage their countries. World leadership is needed to ensure that the world economy does not fall apart, but George can remember a time when European leaders were lax in their approach to financial issues.
#4: Is George Correct?
George could be correct about the similarities between 2008 and today, but there is no way to know until the world economy makes its way through 2016. The world economy could begin to collapse again, and market experts will begin betting against success. There is a possibility that George’s words reach the ears of enough leaders, and the problems will fade away with better leadership.
George Soros is more than qualified to speak on economic matters around the world, and he wants the world to notice that he has seen this pattern. His views on the global economic crisis must be seriously before it is too late.