George Soros, the venerated American billionaire hedge fund investor, fears China is headed toward a financial crisis like that of the United States and much of the world in 2008. Debt is spiraling, he noted in April, and when America let that happen it set off the Global Financial Crisis. Since Soros made the comment in April, he has been showered with criticism that all but puts a shine on China. Its debt won’t spill over into the rest of the world. It might not even taint China, which in turn might not be too concerned, some of the detractors say.
|