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George Soros Sees Crisis in Global Markets That Echoes 2008

  • Soros speaks at economic forum in Sri Lanka's capital
  • China's devaluation hurting the rest of the world, Soros says
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Are Investors Right to Be Nervous Over China?

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Global markets are facing a crisis and investors need to be very cautious, billionaire George Soros told an economic forum in Sri Lanka on Thursday.

China is struggling to find a new growth model and its currency devaluation is transferring problems to the rest of the world, Soros said in Colombo. A return to positive interest rates is a challenge for the developing world, he said, adding that the current environment has similarities to 2008.