George Soros on global imbalances
From State of Financial Markets George Soros. · · Archivo Geopolitico
“The American consumer became the motor of the world economy and we were absorbing the savings of the world to finance that overconsumption. And that could have continued indefinitely because there were countries that were very happy to produce more than they consumed and to accumulate reserves to build up their wealth.”
On , George Soros, Founder of Open Society Foundations at Open Society Foundations, spoke about global imbalances during State of Financial Markets George Soros. on Archivo Geopolitico.
About George Soros
In a 2010 interview with Chrystia Freeland, George Soros discussed global disorder and the fragility of European institutions. He argued that the European Union, which he described as the embodiment of an "open society," had been transformed by the euro crisis from a voluntary association of equals into a hierarchical structure of creditors and debtors. Soros also characterized Russia under Vladimir Putin as resembling inter-war Germany, calling it "nationalistic and based on resentment," and said the Putin regime's primary interest was preserving itself in power and maximizing rents. Soros stated that sanctions alone were insufficient to address the situation in Ukraine, as they reinforced Putin's narrative of Western hostility. He advocated for a strategy combining sanctions with effective assistance to Ukraine, arguing that a flourishing Ukraine could serve as a role model for people under Putin's domination and eventually bring about change in Russia.