Financier extraordinaire Soros is no unfamiliar person to controversy, whether real or imagined by his scores of conservative critics. According to Foreign Policy, Soros’ latest bombshell concerning the superiority of China’s economy and govt to that of the United States is sure to raise the hairs on the back of Glenn Beck’s neck. Source of article – George Soros says China has upper hand on U.S. by Money Blog Newz.
Soros suggests the world is in China's care now
Soros suggests that China focuses on its own economic interest too much rather than spreading the wealth. During this, China has gotten more economic power than the U.S. The U.S. financial decline is compared to the United Kingdom after World War II. This is what Soros does.
Now the balance of economic power has swayed toward China, Soros says that China needs to now look outward. The world economic order is its responsibility. This is what Soros says. The problems with currency are a fantastic place to start. This is what China should consider.
Seeing Congressional difficulties with Gridlock
Soros says in the Globe and Mail that China has a "better functioning government" and "more vigorous economy" since the U.S. economy can't move forward with Congress being so bad at making decisions. The government is quite bad about making things like national security important within the U.S. with distractions like the filibuster. This is what Kay King of the Council on Foreign Relations said. Soros' statements are nearly the same as King's:
When Congress fails to perform, national security suffers thanks to ill-considered policies, delayed or inadequate resources, and insufficient personnel. Without congressional guidance, allies and adversaries alike devalue U.S. policies because they lack the support of the American people that is provided through their representatives in Congress.
Info from
CFR
cfr.org/content/publications/attachments/Congress_CSR58.pdf
Foreign Policy
blog.foreignpolicy.com/posts/2010/11/16/soros_china_has_better_functioning_government_than_us
The Globe and Mail
theglobeandmail.com/report-on-business/economic-power-shifting-from-us-to-china-soros-says/article1800333/
Soros on a lack of confidence in currency
youtube.com/watch?v=3iNkJ2HQbvs
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