The current market situation on http://www.bloomberg.com/news/articles/2016-01-07/global-markets-at-the-beginning-of-a-crisis-george-soros-says that we are in globally is quite reminiscent of a terrible economic time in the United States and other parts of the World, which happened in the year 2008, which is currently on the mind of one of the wealthiest billionaires on the planet. 2008 was a year of a lot of troubles when you look at the financial market globally, as things got pretty bad economically, which was called ahead of time by George Soros. He has stated that the current situation in China, as their economy is starting to sputter and is slowing down in production, looks very similar in terms of potential for a crisis that we experienced eight years ago.
One of the biggest ways that he has capitalized in his life is by figuring out when a certain monetary unit that a country is using is going to go up or down, and making financial investments as a result. George Soros has made billions of dollars doing this type of thing, and the best part as it applies to his predictions is the fact that he has been very accurate. He stated that there was a big problem on http://www.cnbc.com/2016/04/12/soros-european-union-in-mortal-danger.html lurking before thinks took a big dive in the year 2008, and even more recently he signified that there was a big threat involving Europe and Greece five years ago. The thing to realize here is that the events that he is talking about are absolutely predictable, and also that he is not stating that a certain outcome is going to happen for the most part. In 2011 the problem got figured out better than expected and a lot worse things could have happened, but George Soros still managed to see that there was a big problem and put out statements about it.
China finds themselves in a time where their economy has failed to figure out how to expand anymore. They are following the same sort of pattern that the United States experienced when we industrialized the country and eventually hit a point where we could not expand much anymore, as well as started to see the dollar devalued. The Yuan, which is Chinese currency, is dropping, which is a reason for concern when it comes to investing. There is no question that investing in Chinese businesses is going to be risky, as they are devaluing their currency, and there could be problems that hit all sorts of countries that work with them and buy their products. China is absolutely immersed in global trade, meaning their overall economic standing and the state of their currency can dramatically affect the rest of the planet. This is something that is abundantly clear when you really look at the situation, what has transpired and what is in front of China, so George Soros looks to be accurate again when he says that there may be a big crisis in the near future.
Learn more about his profile at forbes.com