George Soros Warning of another Financial Crisis
George Soros is an experienced executive and billionaire with vast experience. His experience has earned him respect and authority in the financial field having entertained the investment business since the late 1960s. Recently, Soros indicates that the challenges that the Chinese banks and currencies were facing were a pointer to bad things to come. George Soros insists that given the Chinese rise in the recent years, its influence on the developing countries cannot be ignored. Also, he goes ahead to intimate that the mere fact that it does business with lots of countries will bring a challenge and possible problem if its currency does not improve.
The Chinese currency has lost value on http://latino.foxnews.com/latino/politics/2016/03/10/billionaire-smackdown-george-soros-funds-effort-to-stop-trump-mobilize-latinos/, and it is beginning to bite on the close allies. He warns that the associates were at risk too. The primary concern is that the Chinese economy was insisting on investment and manufacturing, but had never paid attention to consumption issues. The economy cannot sustain itself in that in case there will be no market, and the industries will not last for long. The Chinese are being asked to being a self-sustaining economy before getting out.
Over the last few years, the Chinese economy has grown, but lacks the continuity formula. According to Soros, the Chinese need a new growth model that they will stick to, and will bring possible revaluation of the currency. In a panel in Washington, he warned that the effects of the one he anticipates may be worse compared to the previous one.
Apart from the financial world and investment, George Soros is a donor who likes to promote democracy. Given that many nations do not have a soft touch for democracy in their countries, they have resisted his work and even gone ahead to ban the activities of organizations linked to him. The Open Society Foundation has been prohibited in Russia and named among the groups that are a threat to national security. Also, they have found out that the organization is abusing its constitution.
The Open Society Institute and the Open Society Foundation were founded by Soros so as to help see an end to communism and promote democracy. Their work on http://www.nybooks.com/articles/2016/02/11/europe-verge-collapse-interview/ has seen resistance in Russia and Hungary. In fact, Hungary accuses the OSF of supporting immigration. In their view, by championing for their rights, the level of immigrants flowing into the country will increase. However, Soros sees it differently. He sees that all human beings should have their rights upheld and freedoms cultivated.
Despite the tough talk by some nations, the Soros organizations have continued to do what they were founded for and have seen success. Also, the organizations have received tremendous support from some local NGOs within their countries of operation. It is the support they receive that helps sustain their efforts. Also, other international organizations have stepped in its support so that all people can have their rights upheld and freedoms guaranteed. The nature of work associated with George Soros has made him a man of outstanding character and admirable professional abilities. Therefore, his sentiments on an impending financial crisis are taken seriously.