George Soros: The Worst Is Behind Us But Globalisation Is At Threat From Recent Trade Protectionis_George Soros

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George Soros: The Worst Is Behind Us But Globalisation Is At Threat From Recent Trade Protectionis

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whereiszemoola 2009-06-21 13:22:42 Publish:

On Business Times.

BILLIONAIRE hedge fund manager George Soros said the worst of the global financial crisis is over, and called for new international regulations to maintain open markets.

“Definitely, the worst is behind us,” Hungarian-born Soros said in an interview yesterday with Polish television station TVN24.

He called the crisis the most serious in his lifetime, adding, “This is the end of an era. The question is what’s going to come out of it in the future.”

Without new international regulations, “globalisation will fall apart,” possibly spawning a system of “state capitalism” like the one that exists in China, he said.

Soros, who recently returned from China, said the world’s third-largest economy is “growing in strength” because the country was relatively unaffected by the crisis. -- Bloomberg

Ah.. globalisation will fall apart.

The Buy American policy which is causing much protest worldwide, which is not helped at all with the recent Buy Chinese Vs Buy American.

See also Would Current Trade Protectionism Issue Hinder Global Financial Recovery? and Canada Continues Its Protest Against 'Buy American' Policy

Comments:

If history is any indication, he has certainly been ahead of the time in predicting trends, and benefiting from his own predictions. Wonder if Mr. Soros has a crystal glass that most others don’t?!

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