Soros Says China Will Help World Economy Recover From Recession

Discussion in 'Wall St. News' started by ASusilovic, Jul 8, 2009.

  1. July 8 (Bloomberg) -- Billionaire George Soros called China “a positive force” that will help drive growth as the world emerges from the current economic crisis.

    “For China, the crisis is something affecting them from the outside,” said Soros, 78, in a Bloomberg Radio interview. “They can stimulate their economy. They have reserves. They have a trade surplus. They will be one of the motors of the world economy.”

    Soros, who is no longer involved in the day-to-day operation of his $24 billion New York-based Soros Fund Management LLC, has said the growth rate of the last 25 years won’t resume.

    The International Monetary Fund said the global economic rebound next year will be stronger than it forecast in April as the financial system stabilizes.
  2. Maybe Soros is talking his book?

    China imports a lot of raw materials and commodities and not much else.

    I once read that each shipment from the Port of Long Beach to China was mainly commodities and raw materials valued at around 3oo million, and the average return trip to the U.S., after production and assembly, was worth 3.7 billion.

    If China truly can avoid a massive downturn, maybe it will help out Australia, Indonesia, Peru and the like (all being commodity-centric countries)...
  3. toc


    I would say BRIC nations are on the growth momentum. India is supposed to be growing by 7-9% annually. Brazil is also solid. BRIC has become the third main economic cluster after NAFTA and EU.