George Soros has predicted the inevitable Chinese “hard landing”

Moscow. January 22. Billionaire and investor George Soros believes that China’s economy is moving towards a “hard landing”, which will increase deflationary pressure in the world, will exacerbate the fall in stock markets and increase the profitability of U.S. government bonds.

A hard landing is almost inevitable, said Soros in an interview with Bloomberg on the sidelines of the world economic forum in Davos. – I wouldn’t expect it, I see”.

The billionaire said that China can cope with its problems due to large resources and gold reserves by $3 trillion, however, the slowdown of the Chinese GDP will have consequences for the rest of the world.

According to Soros, the time to buy shares has not yet come, and he bet on the fall of the s & P 500 from the beginning of this year lost about 8.5%. The investor also negatively assessed the prospects of the economies of commodity exporters and Asian currencies, however, said that he is placing on growth of U.S. government bonds.

In addition, Soros said he would surprised if the Federal reserve (the fed) will raise interest rates after the first in almost a decade in December. According to him, the decision to raise rates was a mistake.