Tags: george | Soros | rupert | Murdoch | China

Soros, Murdoch Praise China

Wednesday, 17 Nov 2010 01:17 PM

Billionaires George Soros and Rupert Murdoch say China’s beating out the U.S.

"Today China has not only a more vigorous economy, but actually a better functioning government than the United States," Soros Fund head George Soros told Foreign Policy. "There is a really remarkable, rapid shift of power and influence from the United States to China.”

Soros compared the decline of the United States as a world power to that of the United Kingdom after World War II, noting that the political gridlock in Washington gives China an edge on power.

"China has risen very rapidly by looking out for its own interests," Soros said. "They have now got to accept responsibility for world order and the interests of other people as well."

Murdoch says the U.S. is facing a huge economic challenge from China.

"They [China] have enormous economic power," Murdoch told Fox News. "I'm not saying they would use it to hurt people, they would use it to certainly help themselves."

Murdoch points out that China's 1.3 billion population will continue to drive the country's economy. "They [China] are not going to give up on expanding and manufacturing jobs, service jobs — anything at all — so they can lift the standard of living of the whole population."

Murdoch says he found it quite scary "when Larry Summers, the chief economic adviser of the president, said, when we look back at the end of the century, people are not going to talk about this recession, they are going to talk about the rise of China."

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Billionaires George Soros and Rupert Murdoch say China s beating out the U.S. Today China has not only a more vigorous economy, but actually a better functioning government than the United States, Soros Fund head George Soros told Foreign Policy. There is a really...
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2010-17-17
Wednesday, 17 Nov 2010 01:17 PM
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