The consequences of the eight-year-old crisis still affect the global economy. However, according to the famous billionaire George Soros, this is only the beginning of the decline of world markets. He is sure that the world economy should prepare for the worst.
According to D. Soros problems in the future will arise because of the instability of the Chinese economy. While the Celestial Empire is looking for ways out of the current situation, many countries feel the consequences of the devaluation of the yuan, the expert said. The collapse of the currency, stock and commodity markets, which happened in the end of 2015, can be a confirmation of Soros's correctness.
Photo: Xi Jinping, President of China.
Recall that in 2015, global stock markets have been nervous and unstable. For example, the volatility index of the Chicago Options Stock Exchange VIX (fear index) in late August soared 46% after the devaluation of the yuan. During the year it increased by 13%.
Of course, not only George Soros expresses fears about the impending crisis. The media mogul Rupert Murdoch spoke about this, predicting a new wave of global recession. Some investors hold this point of view.
The International Monetary Fund and the World Bank agree with them, publishing pessimistic forecasts for emerging markets from time to time. They, like D. Soros, draw an analogy with 2008. However, no economist can give an accurate prediction about the future difficulties.
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