The state of the financial markets around world is something each and every person should be concerned about, Bloomberg reports George Soros has warned as the markets of the world remain volatile in 2016. George Soros used his own appearance at an economic forum in Sri Lanka to reveal his gloomy prediction of what lies ahead for the global economy in the coming year and possibly longer into the future. The legendary hedge fund manager believes his own experiences as a refugee and philanthropist allow him the chance to enjoy a unique position in understanding just why the world sits at the brink of a global collapse to match that of 2008.
One of the areas George Soros has revealed as being of major importance to the future state of the global economy is the refugee crisis currently engulfing Europe. Soros himself spent a period of time as a refugee after his home country of Hungary was invaded by Nazi’s during World War II, and Soros was placed in a concentration camp. Over the first months of 2016, George Soros has explained his view that Russia is pushing for the collapse of the European Union by bombing civilian areas of Syria to add to the refugee problem; Russian officials have responded by banning the George Soros backed Open Society Foundations that have been promoting democracy in the country for a number of years, according to CNBC.
George Soros made sure those who witnessed his interview in Sri Lanka understood the major issue facing the world markets are the problems in China, which has struggled for a number of years to cope with a changing economy. Soros used his interview to reveal his belief that the global economy has been struggling under an indecisive policy from Chinese officials, who have yet to come to terms with the changing economy they are managing. The man credited with breaking the Bank of England in 1992 stated investors should be wary of making new deals until the future of the Chinese economy has been assured and the volatile markets have stabilized once more.