George Soros Warns “China Resembles US In 2008”, Hard Landing “Practically Unavoidable”
by Tyler Durden
ZeroHedge.com
04/20/2016
China’s massive credit growth in March (and $1 trillion surge in total social financing in Q1) is a “warning sign” according to billionaire George Soros, >”because it shows how much work is needed to stop the slowdown.” Speaking at an event in new York this evening, Soros commented on “troubling developments” in China, the anti-corruption drive’s impact on capital outflows and the real-estate bubble “feeding on itself.” His conclusion, rather ominously, was that despite all the naysayers and fiction-peddlers, China “resembles US in 2007-8,” before credit markets seized up and spurred a global recession.
The Rest…HERE
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