https://www.cnbc.com/2019/01/24/dav...-most-dangerous-opponent-of-open-society.html Speaking at the World Economic Forum (WEF) in Davos, Switzerland, Soros lambasted Xi's proposed social credit rating system. His comments come as the Chinese state continues to set up a broad ranking system to monitor its citizens, giving them a social credit score. Billionaire investor and progressive political activist George Soros launched a blistering attack on Chinese President Xi Jinping on Thursday, describing him as the "most dangerous" opponent to those who believe in open society. Speaking at the World Economic Forum (WEF) during a private dinner event in Davos, Switzerland, Soros lambasted Xi's proposed social credit rating system. His comments come as the Chinese state continues to set up a broad ranking system to monitor its citizens, giving them a social credit score. "I want to call attention to the mortal danger facing open societies from the instruments of control that machine learning and artificial intelligence can put in the hands of repressive regimes," Soros said. "The social credit system is not yet fully operational, but it's clear where it's heading. It will subordinate the fate of the individual to the interests of the one-party state in ways unprecedented in history," he added. First announced in 2014, the government-run system will track elements of individual people's behavior and determine some personal privileges for them based on a score. China is piloting the system in various locations, and it is not clear how it will work after it fully rolls out nationally. So, for example, if a person were to get a traffic violation or criticize the government, their personal score may decline. People with lower scores may face penalties, such as being banned from traveling on certain train lines or getting their children into prestigious schools. The system, which is due to be fully operational in 2020, is expected to be mandatory. The head of Soros Fund Management and the Open Society Foundations said the system was "frightening" and "abhorrent." Who is George Soros? The 88-year-old Hungarian-American businessman has spent billions of his own money funding human rights projects and liberal democratic ventures around the world. He has also been a large donor to the U.S. Democratic Party, backing the presidential campaigns of Hillary Clinton and Barack Obama. He has previously described President Donald Trump as "an imposter." Soros has become a frequent target for criticism by right-wing groups in recent years, in large part due to his support for liberal causes.
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The latest out of China about Soros... Chinese state media label George Soros a ‘terrorist’ Billionaire philanthropist and ex-hedge fund manager has urged US funds to eschew Chinese markets in recent op-eds https://asiatimes.com/2021/09/chinese-state-media-label-george-soros-a-terrorist/ China’s mouthpiece Global Times has labeled Hungarian-born American billionaire George Soros a “global economic terrorist” in a tit for tat exchange playing out in dueling op-eds that underscore the rising temperature in US-China relations. The article, published on September 4 and without citing any evidence, accused the hedge fund manager and philanthropist of providing finance to Hong Kong’s jailed newspaper owner Jimmy Lai to support the city’s anti-Beijing protests in 2019. Soon thereafter, Soros penned an op-ed for the Wall Street Journal that said New York-based BlackRock’s recent 6.7 billion yuan (US$1 billion) mutual fund investment in China was a “tragic mistake” and would likely lose money for the asset manager’s clients. Soros wrote the BlackRock investment “imperils the national security interests of the US.” That followed an August 30 op-ed Soros published in the Financial Times that said Chinese President Xi Jinping’s crackdown on private enterprise has been “a significant drag on the Chinese economy” and “could lead to a crash.” He said indices, including MSCI’s ACWI, ESG Leaders Index and BlackRock’s ESG Aware, have “effectively forced hundreds of billions of dollars belonging to US investors into Chinese companies whose corporate governance does not meet the required standard — power and accountability is now exercised by one man (Xi) who is not accountable to any international authority.” The billionaire urged the US Congress to pass legislation limiting asset managers’ investments to “companies where actual governance structures are both transparent and aligned with stakeholders.” Previous reports said that Soros’ hedge fund had disposed all of its exposure to Chinese assets earlier this year. Soros, 91, who reportedly has a net worth of $86 billion and bankrolls the philanthropic Open Society Foundations that provides financial support to non-governmental organizations worldwide, has a long-time love-hate relationship with China. During the Asian financial crisis in 1997-98, he tried to break the Hong Kong dollar’s peg to the US dollar but was ultimately defeated by the Hong Kong government, which intervened heavily in markets to protect the peg. Soros was given the nickname “financial crocodile” by local media at the time. In September 2001, Soros was invited to visit China and met then Chinese Premier Zhu Rongji in Beijing. But after the 2008 global financial crisis, Soros told media in October 2009 that China should step up to the plate as the leader of a new global economic order. He was interviewed by several Chinese media in 2009 and 2010, sharing his experiences as a global investor. In January 2016, Soros told a dinner audience on the margins of the World Economic Forum in Davos that “a hard landing is practically unavoidable” for the Chinese economy. A few days later, the People’s Daily, China’s Communist Party mouthpiece, warned that “Soros’s war on the renminbi and the Hong Kong dollar cannot possibly succeed – about this there can be no doubt.” But the Global Times’ “economic terrorist” label seems to be drawing on unproven allegations against the billionaire. In August 2017, a petition demanding Soros be declared a “domestic terrorist” obtained over 100,000 signatures on the White House website on allegations he funded liberal protests in the US. In November 2018, Soros was accused by Turkish President Recep Tayyip Erdoğan of supporting and financing “terrorists” in the 2013 Gezi Park protests. (More at above url)