George Soros calls Xi Jinping the biggest threat to the world, says he will be overthrown over huge grievances over economy, Covid-19 control

George Soros, a billionaire businessman and founder of the controversial Open Society Foundation, has said that China is facing a severe economic crisis and predicted that President Xi Jinping’s orchestrated ascension to the level of Mao Zedong and Deng Xiaoping may never materialize.

Soros made those remarks on Monday (January 31), while provide address At an event organized by the Hoover Institution, a think tank, titled “China on the Eve of the Winter Olympics: Difficult Choices for the World’s Democracies.”

Soros pointed out that Xi Jinping has many internal enemies, and a fierce struggle is brewing within the CCP, so much so that it is expressed in various party journals, Soros said that no one is openly opposed to him now because he controls all power lever. Soros claimed that Xi was under attack from those who were inspired by Deng Xiaoping’s ideas and wanted to see private enterprises play a bigger role in China’s economy.

“Hopefully Xi Jinping may be replaced by someone who is less authoritarian at home and more peaceful abroad. This will remove the biggest threat facing open societies today, and they should do everything they can to encourage China to move in the desired direction.”

Soros, who called China the most powerful authoritarian state in the world, compared the Beijing Winter Olympics to the 1936 Berlin Olympics, when Germany was Nazi Germany in 1936. Soros said organizing sports events was seen by Xi as a way to win propaganda. Its strict control system.

Soros said China’s zero-coronavirus policy was having a negative impact on economic activity and would cause serious hardship for people “who are instantly quarantined wherever they are and whose complaints cannot be quelled.”

Soros accused Xi of undermining Deng Xiaoping’s achievements, saying the Chinese president was bringing private companies established under Deng Xiaoping under the control of the Communist Party and undermining their past dynamism.

“Compared to Deng, Xi Jinping is a true believer in communism. Mao Zedong and Vladimir Lenin are his idols. At the 100th anniversary of the founding of the Communist Party of China, he dressed like Mao, and the rest of the audience wore formal clothes.” Soros said

China’s property boom is based on an “unsustainable” model that benefits local governments and encourages people to invest most of their savings in real estate, Soros said.

He added that government policies aimed at curbing the boom have made it difficult for debt-laden property giant Evergrande to service its debts.

“The model on which the housing boom is based is unsustainable. People who buy apartments have to start paying before they are even built. So the system is built on credit. Most of the local government’s revenue comes from rising prices. Sell ​​the land,” Soros said.

“Eventually, prices have to rise beyond what the average person can afford. That happened in mid-2021. By then, the boom has grown to unhealthy levels. It accounts for nearly 30% of the economy and is gobbling up more and more credit,” he added.

Soros also highlighted the demographic challenges China faces. Noting that the birth rate is much lower than the official figure, Soros said demographers’ calculations suggest the actual population is about 130 million lower than the official figure of 1.4 billion.

“It’s not widely known, but it will exacerbate the housing crisis, leading to labor shortages, financial strains and a slowdown in the economy,” Soros said.

Contrary to popular belief, Soros says China’s handling of the pandemic could spell serious trouble for Xi Jinping

“Xi Jinping also has serious problems with vaccines. The Chinese vaccine was designed to deal with the Wuhan variant, but the world is now fighting other variants, first Delta, now Omicron. Xi Jinping awaits a third term in office It is impossible to admit that. He is hiding it from the Chinese people as a guilty secret,” Soros said.