Soros Warns Of Increasing Danger To World From China

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Soros Warns Of Increasing Danger To World From China
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George Soros delivered his annual speech at Davos which he devoted to discussing the geopolitical situation. Once again, Soros spent the bulk of his time on Donald Trump, and Russia. However, Soros finally realizes that the biggest threat is China. As I have pointed out for years, Soros’ fearmongering of Russia helped push that country into the hands of the Chinese. In addition, a lot of political attention has been diverted to the nonexistent Russian boogeyman which helped China as it continued its economic and military aggression. Russia has been on the decline for 30 years, in contrast, every year China is getting stronger and stronger. Soros acknowledges China is the main threat but its too little too late.

Below are some excerpts from the speech.

In the middle of last year I still cherished some hopes that there would be another reversal towards international cooperation. The European parliamentary elections produced surprisingly favorable results. Participation increased by 8%—the first uptick since the Parliament was established. More importantly, the silent majority spoke up in favor of greater European cooperation.

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But by the end of the year my hopes were dashed. The strongest powers, the US, China and Russia remained in the hands of would-be or actual dictators and the ranks of authoritarian rulers continued to grow.

….

I hate to say I told you so but the attitude of Soros and many of his Davos friends, many big investors like BlackRock, Blackstone, Goldman etc ensured that the above happen and will continue to do so.

Furthermore, Soros states;

Xi’s success is far from assured. One of China’s vulnerabilities is that it still depends on the United States to supply it with the microprocessors it needs to dominate the 5G market and to fully implement the social credit system that is a threat to open societies.

At the end of his speech Soros blames Trump for how he is dealing with the issue.

Soros states:

Unfortunately from an open society point of view, he is capable of doing so, as he has demonstrated by putting Huawei on the bargaining table with Xi Jinping.

5G is an issue no one before Trump even lifted a finger to combat. Even now, many European countries are allowing Huawei into their network. If it was up to Soros and his WEF friends Huawei and their spying apparatus would be an integral part of US communications within the next five years.

I agree Huawei should be a separate issue, but if it was up to Davos type “experts” it would not be dealt with at all. Did Soros in his obsession with Russia even mention China until Trump made it front and center?

Soros further continues:

If we survive the near-term, we still need a long-term strategy. If Xi Jinping succeeds in fully implementing his social credit system, he will bring into existence a new type of authoritarian system and a new type of human being who is willing to surrender his personal autonomy in order to stay out of trouble. Once lost, personal autonomy will be difficult to recover. An open society would have no place in such a world.

I believe that as a long-term strategy our best hope lies in access to quality education, specifically an education that reinforces the autonomy of the individual by cultivating critical thinking and emphasizing academic freedom.

This is naive and I wish it were true, but there is no evidence for it. The hope was China would become more democratic as it traded more with the West. China places high values on its education system but rightfully many residents see that their system has many of the benefits of ours without the downsides.

Soros (at least this year) did not warn of a world war with China, but lets hope that his round about on this topic will not be too little too late to prevent such a catastrophe.

See the full transcript here.

The video can be found here.

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Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver

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