George Soros says the US and China are in a cold war that ‘threatens to turn into a hot one’

CNBC
January 25, 2019

Liberal billionaire George Soros on Thursday warned that the U.S.and China, the world’s two largest economies, are locked in a “cold war that could soon turn into a hot one.”

His comments come at a time when investors are increasingly concerned about a serious economic downturn, with a long-running U.S.-China trade war souring business and consumer sentiment.

Referencing Trump’s decision to label China as a “strategic” competitor in late 2017, Soros said this approach was “too simplistic.”

“An effective policy towards China can’t be reduced to a slogan. It needs to be far more sophisticated, detailed and practical; and it must include an American economic response to the Belt and Road Initiative,” he said.

Soros, a major Democratic donor and critic of President Donald Trump, was speaking at a private dinner at the World Economic Forum (WEF) in Davos, Switzerland.

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This article was posted: Friday, January 25, 2019 at 6:58 am

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