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    An employee counts 100-yuan (15 USD) banknotes at a bank in Lianyungang, in eastern China's Jiangsu province on January 7, 2016

    China Gives 'Tough Response' to George Soros’ Attempts of Currency War

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    Billionaire investor George Soros has a new enemy as the businessman with a net worth of $24 billion has recently engaged in an information war against the Chinese government, an article on the French news and analytics website Boulevard Voltaire read.

    George Soros declared war on the Chinese currency at the World Economic Forum at Davos and his influence has already affected fluctuations at global financial markets.

    Soros said he would bet against Asian currencies, predicting a "hard landing" for the Chinese economy, according to Bloomberg.

    However, in response, Beijing recommended not to take Soros’ predictions seriously.

    On June 7, the Chinese government warned the billionaire from starting a currency war against yuan. In a press-release, the government said that attempts by Soros to take on the renminbi and Hong Kong dollar were "doomed to fail."

    Recently, the well-informed American website ZeroHedge published an article which stated that the US is suffering from a "Dutch disease" and "financial predators."

    The article was in response to Soros who last week once again predicted an economic collapse in China.

    In 1992, Soros dealt a blow to the British pound, bringing the Bank of England to its knees. The British government had to withdraw its national currency from the European exchange system. This is enough for the Chinese government to be alarmed over Soros’ predictions, the article read.

    Beijing’s response to Soros is part of China’s tough measures against those trying to provoke a meltdown in the Chinese market, it added.

    "Currently, there is a downturn in the Chinese economy. Neocons are trying to use the situation to destroy everyone threating to American hegemony, including China," the author wrote. 

    George Soros is a well-known American business magnate and philanthropist. The financier rules a huge financial empire and has written 12 books on subjects ranging from terrorism to global capitalism and is one of the richest, most influential people in the world.

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    Tags:
    currency war, yuan, economy, George Soros, China
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