George Soros is a very famous investor on Fortune.com who has featured in the likes of Forbes Magazine as a billionaire. He has featured in many investors with his writing and his advocating for an open society. In his writings, George Soros has linked development to democracy.
In his current study of the market, George has identified the current market situation as similar to that in the year 2008. In that in 2008, there was a market crash with a lot of regulation of shares that were deemed irresponsible. Then in 2008, the supervision of the market caused its crash. Same to what is happening in the Chinese market today, where there are sanctions in the market to regulate the shares. This according to George Soros will lead to a market crisis.
China has currently restricted the number of shares per person. This case forms a similarity to the sanctions initiated in 2008 with a lot of lending that was deemed reckless to a point of the market crash.
From Soros view, of the importance of open society and democracy he argues out the case of the European Union not to be just. Soros has warned the Union of collapsing in the near future after tits leader attacked Ukraine. Her attack will most likely affect the state of the common market as she did not consider the concept of the public at first according to Soros. Soros appreciates his independence and uses it to give out opinions on different topics. This includes his view on the current market situation.
From his argument, the financial crisis that is about to happen is the worst since the 1930s. He sees a crash of the market if the Europe does not change its finance and banking system. He has also identified Germany and China as culprits to this crash as he has highly invested on them. Recently, after his advocating the principles of open society in the leadership of the European Union, his two great foundations have been banned in Russia. They include The open society foundations and The Institute of assistance foundation. The foundations assist in educating the financially unstable students and also enhance democracy.
Soros compare this era to when the European Union was not there, and he deems this era undesirable to the common markets. The union has destroyed most financial institutions and all the political processes in the Europe. The euros are not as strong as there before all as a result of the rulings in the European Union. Irresponsible regularities and rules are the cause of this tremor.
Soros, however, appreciate the presence of European Union and sees it as a good model to open society. But it has however not been able to play this role due to bad politics. He sees bad consequences coming through if the union collapses and Europe will face a financial crisis.
To Soros, the financial crisis and the collapse of the market will lead to a dreadful situation in the financial sector that has never been experienced before. This will be more as compared to the 2008 crisis unless the European Union is changed soon to serve as an open society forum.