Investors’ concerns over the economic situation in China may not be overblown, as the country is now the root cause that will lead to another 2008, George Soros
) said while speaking with Bloomberg
on Jan. 21 from Davos, where he was attending the World Economic Forum.
In fact, Soros said, the market is already headed toward repeating 2008. The main problem is deflation and over indebtness of the Chinese economy, coupled with the fact that China’s problems have a tendency to affect other parts of the world. In addition, China has long ignored the problem, making “a hard landing practically unavoidable,” Soros said. Continue Reading »