George Soros Believes A Rerun Of The 2008 Slowdown Could Happen

The economic situation around the world echoes that seen in the buildup to the 2008 global economic slowdown in the eyes of legendary hedge fund manager George Soros. Bloomberg states Hungarian born Soros used an interview at an economic forum in Colombo, Sri Lanka to provide his warning of imminent problems in the global economy based on issues seen in the Chinese economy that is causing major problems across the world. Soros believes the world is heading for major problems in the global economy on that could make it even more difficult to come back from than the long term effects of the 2008 slowdown.

George Soros is one of the most respected figures in global economics after spending almost half a century in charge of his own hedge fund; George Soros has created a personal wealth of more than $25 billion after seeing his hedge fund achieve an average annual growth of over 20 percent.

The success George Soros has achieved over the course of his life has come after a difficult period of time in his early life as he struggled to become the major financial expert he is today. The financial expert, George Soros was born in Hungary and was part of the Nazi occupation of the country leading to his incarceration in a Nazi concentration camp.

The major problems facing the global economy have been blamed by George Soros on issues seen within the Chinese economy on, which has seen a shift in focus over recent years. The success China saw in the latter half of the 20th century was based upon investing and manufacturing, but has now shifted with a growing middle class to become based upon a consumption and service economy. The problems the shift has caused are based upon problems government officials are having keeping up with the shift and coping with rising interest rates; these issues are causing a slowdown in the global economy that George Soros believes need to be addressed quickly or they could lead to even greater problems than those seen in 2008.