Hedge fund mogul and Democratic supporter George Soros says the near financial meltdown in 2008 taught him valuable lessons. “The world does need order, and that order needs maintenance,” he told The New York Times. And China is a country that demands order.
“The idea that markets can correct their excesses turned out to be false,” Soros said.
And that leads to his point about China. “Perfect order and global governance are not realistic expectations. However, it is a sad fact that Western democracies provide less successful leadership than China.”
To be sure, China’s combination of capitalism and dictatorship, where the government trumps individual rights, isn’t something Soros wants to see spread. He hopes China’s system doesn’t become “the envy of the world.”
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