George Soros has warned that a global “currency war” pitting China versus the rest of the world could lead to the collapse of the world economy.
Mr Soros, the hedge fund manager best known as the man who broke the Bank of England” after he made a billion betting against the value of Sterling on Black Wednesday in 1992, said the China had created a “lopsided currency” system.
He criticised China for deliberately keeping the yuan - its currency - low in order to keep exports cheap, which is hurting US competitors.
http://www.telegraph.co.uk/finance/currency/8052729/George-Soros-warns-China-of-global-currency-war.html
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