Comments from George Soros saying China and the US could be on the threshold of a war!
Soros was speaking on Tuesday at a Bretton Woods conference at the World Bank
- He called on the U.S. to make the "major concession" & allow China's currency to join the International Monetary Fund's basket of currencies
- This would make the yuan a rival to the dollar as a global reserve currency
- In return, China would also have to make concessions to reform its economy
OK, so far so good. He went on:
- Said it was not an exaggeration to say the world could be on the threshold of a third world war, especially if China's economy falters
- Said if China is unsuccessful at making the transition from an export-led economy to domestic-demand-led growth, the ruling party might resort to external conflict to keep the country together and stay in power
