Soros Falls Totally Out of Love with China’s Communists

Ultraliberal billionaire George Soros has lost his love for the Chinese Communist regime.

How Soros Turned Against China

In an interesting plot twist, Soros has openly lambasted Chinese leader Xi Jinping, just several days before the opening of the 2022 Winter Olympics in Beijing.

The Chinese regime is using this international event to spruce up its image that’s been damaged by numerous revelations, including the ongoing Uyghur genocide.

In 2010, Soros famous quipped that China’s government is “better functioning” than that of the United States. However, back in 2019, at the economic forum in Davos, Soros described Xi as a “mortal threat” to open societies.

Whatever lefty “love” George Soros may have had for the communists in Beijing is now totally gone. He just publicly warned against investing in China.

The hedge-fund billionaire delivered a speech at the Hoover Institution of Stanford University, counseling against any investments in the communist country, as cited by CNN.

In his speech on Monday, the billionaire emphasized that China’s real estate boom ended last year “with a bang” after decades of huge growth; now, the country is facing a full-fledged economic crisis.

Noting that the Chinese properties market has been plagued by falling prices and developer defaults, Soros demonstrated skepticism that Chinese President Xi Jinping could manage to restore confidence in the sector.

Dwelling on the $300 Billion Chinese Giant on Brink of Collapse

The globalist, pro-Marxist billionaire called the real estate boom in China “unsustainable” because it’s based on a modal that incentivized people to put their savings in properties while benefitting local governments.

Soros pointed out the policies of the Beijing regime actually debilitated the capacity of gigantic Chinese real estate developer, Evergrande, to service its debts.

Evergrande has been teetering on the brink of collapse for months now; its total liabilities amount to $300 billion, of which some $19 billion comprise offshore bonds held by private banks and foreign asset managers.

During the panel discussion after his speech, George Soros declared the Chinese might have been putting off dealing with the Evergrande crisis, and it might get out of hand.

According to the notorious globalist, China’s property market situation “doesn’t look promising” and the falling prices might cost lots of people their investments.

He did acknowledge, however, that Chinese President Xi has enough tools at his disposal in order to “re-establish confidence,” but there is no way to know whether he would use them correctly.

From a China champion, Soros has morphed into a virulent critic of the Xi regime over the Chinese leader’s crackdown on private companies and the staggering surveillance policies of his regime using the latest top-notch tech.

Back in September, Soros criticized BlackRock, an asset management company, for growing its business in China, calling that a “tragic mistake”.