China is Near a Financial Crisis Similar to the U.S. in 2008, Says Soros
China’s debt is more than twice the size of its GDP
by Sue Chang
Market Watch
Billionaire investor George Soros has warned that a surge in China’s debt is bringing the world’s second-largest economy on the brink of a financial crisis similar to one the U.S. faced in 2008.
“There is an eerie resemblance to what’s happening in China to what’s happened here leading up to the financial crisis in 2007-2008 and it is similarly fueled by credit growth,” Soros said at a round table hosted by Asia Society late Wednesday. “It’s eventually unsustainable. But it feeds on itself and it has a lot to do with real estate,” he said.
A collapse of a U.S. housing bubble in 2007 and the resulting upheaval in the banking sector triggered the failure of major financial institutions in 2008. While it was, in essence, a U.S.-centric event, the crisis had far-reaching implications around the world, depressing trade, investment and growth.
Continue Reading at MarketWatch.com…
The post China is Near a Financial Crisis Similar to the U.S. in 2008, Says Soros appeared first on Financial Survival Network.
Source: http://financialsurvivalnetwork.com/2016/04/china-near-financial-crisis-similar-u-s-2008-says-soros/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).