China must take the entire world by the economic reins, says Soros

Financier extraordinaire Soros is no unfamiliar person to debate, whether genuine or imagined by his scores of conservative critics. Based on Foreign Policy, Soros’ latest bombshell regarding the superiority of China’s economy and govt to that of the United States is sure to raise the hairs on the back of Glenn Beck’s neck. Post resource – George Soros says China has upper hand on U.S. by Money Blog Newz.

China responsible for the world, according to Soros

China is too focused on its own interest. Soros suggests they work more on foreign policy. The shift of economic power from the United States to China has occurred along the way. Soros even compares the United States’ financial decline to that of the United Kingdom following World War II.

The economic power being in China means China has to change. It needs to start looking outward, suggests Soros. The world economic order is its responsibility. This is what Soros says. The issues with currency are an excellent place to start. This is what China should consider.

Seeing Congressional difficulties with Gridlock

Soros says in the Globe and Mail that China has a "better functioning government" and "more vigorous economy" because the U.S. economy can't move forward with Congress being so bad at making decisions. The us government is quite bad about making things like national security significant within the U.S. with distractions like the filibuster. This is what Kay King of the Council on Foreign Relations said. King’s argument mirrors many of Soros’ statements:

When Congress fails to perform, national security suffers thanks to ill-considered policies, delayed or inadequate resources, and insufficient personnel. Without congressional guidance, allies and adversaries alike devalue U.S. policies because they lack the support of the American people that is provided through their representatives in Congress.

Information from

CFR

cfr.org/content/publications/attachments/Congress_CSR58.pdf

Foreign Policy

blog.foreignpolicy.com/posts/2010/11/16/soros_china_has_better_functioning_government_than_us

The Globe and Mail

theglobeandmail.com/report-on-business/economic-power-shifting-from-us-to-china-soros-says/article1800333/

Soros on a lack of confidence in currency

youtube.com/watch?v=3iNkJ2HQbvs