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George Soros Says He Expects Hard Landing for China Economy: Bloomberg

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Billionaire investor George Soros told Bloomberg TV on Thursday he sees a hard landing for China’s economy contributing to global deflation.

“A hard landing is practically unavoidable,” Soros said on Bloomberg from Davos. “I’m not expecting it, I’m observing it. China can manage it. It has resources and greater latitude in policies, with $3 trillion in reserves.”

Soros said the slowdown in China stemming from over-indebtedness is inflicting its problems on the rest of the world. China, along with falling oil prices and raw materials, are the root causes of deflation.

Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.
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