"Ukraine War, Prelude to World War III... Soros Warns Humanity's Civilization May Not Survive"

A torn Ukrainian flag is fluttering among the ruins of a school destroyed by Russian bombing in Bakhmut, eastern Ukraine.
[Image source=AP Yonhap News]

[Asia Economy Reporter Jeong Hyunjin] "Russia's invasion of Ukraine is the prelude to World War III. Our civilization will not survive this."

George Soros, known as one of the world's top three investors and the "legend of hedge funds," issued a chilling warning of a "civilizational crisis" at the World Economic Forum (WEF, Davos Forum) held in Davos, Switzerland, on the 24th (local time). The 91-year-old veteran investor raised his voice, saying that humanity is in turmoil due to the rise of oppressive regimes like Russia and China, and that early measures must be found.

According to Bloomberg News, Soros said at the WEF dinner, "Other issues that all humanity should worry about, such as fighting the pandemic, climate change, avoiding nuclear war, and maintaining the global system, have been pushed to the back burner because of the war," adding, "All resources must be mobilized to end the war quickly. The only way for the world to preserve civilization is to defeat Russian President Vladimir Putin."

George Soros [Photo by Reuters Yonhap News]

Soros, a Holocaust survivor from Hungary, settled in the United States after passing through the United Kingdom. Through his nonprofit organization, the Open Society Foundations, he continues global support for justice, democracy, human rights, and progressive politics.

He pointed out that after the 9/11 terrorist attacks in the United States in 2001, open societies were hit hard, resulting in "oppressive regimes gaining power and open societies being surrounded," and said, "Today, China and Russia pose the greatest threat to open societies." He evaluated, "In open societies, the rules of the state protect freedom and the individual, but in oppressive and closed societies, the role of the individual is to assist the state rulers." He further criticized President Putin and Chinese President Xi Jinping, saying, "They rule through intimidation, which leads to absurd mistakes."

Besides the Russia-Ukraine war, Soros strongly criticized China's zero-COVID policy. He said, "The ongoing lockdowns have caused catastrophic results, causing China's economy to plummet since March," and predicted that the decline in China's economic activity would have global repercussions. He warned, "Negative outcomes will continue until President Xi changes direction," adding, "If a real estate crisis occurs, the damage will be immense, spreading to the global economy, and along with supply chain crises, global inflation could lead to a recession."

Soros has voiced criticism on various issues through past WEF meetings. At the January 2020 meeting just before the COVID-19 outbreak, he pointed out problems related to former U.S. President Donald Trump, and in 2019, he mentioned China's use of artificial intelligence (AI) for national oppression.

Meanwhile, at this WEF, Europe's energy issues due to the Ukraine war were a key topic. Soros introduced that he recently sent a memo to Italian Prime Minister Mario Draghi, stating that Europe is in a stronger position than expected in negotiations with Russia. He said, "Europe is Putin's only market," and warned, "If Europe stops supplying, oil fields in Siberia and elsewhere will have to be shut down, and over time, due to equipment aging, it will be difficult to reopen."

Ursula von der Leyen, President of the European Commission (EU), said that Russia is using food supply as a weapon and engaging in intimidation, adding, "Global cooperation is the antidote to Russia's threats." Von der Leyen also expressed hope that an agreement on sanctions against Russian crude oil would be reached within days.