[Asia Economy Reporter Naju-seok] George Soros, known as the 'godfather of hedge funds,' expressed concerns about the overheating of the U.S. economy. He warned that President Donald Trump might forcibly stimulate the economy ahead of this year's U.S. presidential election, potentially leading the American economy to a catastrophe.
According to foreign media on the 23rd (local time), Soros stated at an informal dinner of the World Economic Forum (WEF) held in Davos, Switzerland, "President Trump's economic team is trying to overheat an economy that is already booming," adding, "The stock market has already reached new highs. An overheated economy cannot be sustained for long."
Soros said, "If all this is happening just before the election, President Trump would surely be re-elected, but the problem is that the election is still more than 10 months away," and added, "In revolutionary times, (10 months) is as long as a lifetime."
Experts cite the large-scale tax cuts and various trade agreements implemented by President Trump as major reasons for the U.S. economy's boom. In fact, despite the improved economic situation, the U.S. government is not making efforts to reduce the fiscal deficit.
Additionally, Soros described President Trump as "a narcissist and a fraud who wants the world to revolve around himself," and criticized, "From the moment his fantasy of becoming president became reality, his narcissism turned into a malignant disease."
Regarding the U.S.-China Phase One trade agreement, he said, "Chinese President Xi Jinping took advantage of President Trump's weakness."
Meanwhile, Soros also announced plans to establish a global university network to counter populism and nationalism. He revealed that he would create the 'Open Society University Network' (OSUN) at the Central European University (CEU).
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