During a recent Asia Society forum that was held in New York City, George Soros was among the key panelists. He was quick to compare the crisis that China is facing to the global financial crisis that hit the United States in the years 2007-2008. Currently in China the banking system is facing numerous challenges. The banks are experiencing high amounts of debts on https://en.wikipedia.org/wiki/George_Soros and they are literally lending to one another to keep each other afloat. The total number amount of loans exceed the number of deposits from the banks’ customers.
China’s financial stability has raised a lot of concerns from the global financial world. George Soros is joined together with Andrew Colquhoun who is the Head of Asia Pacific Sovereigns. He too is concerned with the stability Chinas’ economy, saying that the confidence that people once had in China’s economy is coming to an end. The United Sates has come to the aid of China. It has entered into agreements and partnerships on http://www.bloomberg.com/news/articles/2016-04-20/soros-says-china-s-debt-fueled-economy-resembles-u-s-in-2007-08 with its government in order to build up the credibility of its banking system.
Though George Soros and other international entrepreneurs are casting doubt in China’s banking system, there are those who maintain that what China is facing is just the common challenges that any banking system facing. The actions and attitudes towards Chin have been described as overrated.
Read more about this: George Soros’ Take on China’s Economy
George Soros was born in Hungary in the year 1930. Due to the Nazi regime in his country, he fled and went to England in the year 1947. He enrolled into the London School of Economics where he managed to graduate successfully. Upon graduating from the London School of Economics, he started his financial career on https://www.opensocietyfoundations.org/people/george-soros at a merchant bank in London in 1954 until 1956. He later moved to F.M Mayer where he gained a wealth of experience in European stocks.
Upon moving to the United States, he established the Double Eagle hedge fund that ultimately led to the creation of Soros Fund Management in the year 1970. He has been described as a philanthropist due to Open Society Foundations which he established in the year 1970. Through Open Society, Soros has managed to successfully sponsor black students to study in Cape Town University. Open Society is also dedicated towards promoting transparency, democracy and recognition of human rights all over the world.
He is a believer of open societies and through Open Society Foundation, George Soros has been able to contribute to political debates and promotion of democracy. Due to his knowledge and experience, George Soros has authored various books on politics and entrepreneurship. Major magazines and newspapers have also published his articles and this has enabled him to successfully give his opinions and views on business investments and the society at large.