Daily Archives: January 27, 2008

When Soros Speaks, It’s Best to Listen

In a recent article that appeared in the Financial Times, George Soros describes “The Worst Market Crisis in 60 Years.” He concludes by saying, “Although a recession in the developed world is now more or less inevitable, China, India and some of the oil-producing countries are in a very strong countertrend. So, the current financial crisis is less likely to cause a global recession than a radical realignment of the global economy, with a relative decline of the US and the rise of China and other countries in the developing world.The danger is that the resulting political tensions, including US protectionism, may disrupt the global economy and plunge the world into recession or worse.”