Billionaire George Soros on Thursday delivered a scathing assessment of Donald Trump, calling the US President-elect a "would-be-dictator" who is "going to fail".
On the eve of Trump's inauguration in Washington, Soros said Trump was "gearing up for a trade war" which would have "a very far reaching effect in Europe and other parts of the world".
The "would-be-dictator... didn't expect to win, he was surprised," the Hungarian-born financier told an audience of business leaders and journalists at a Hotel in Davos where the World Economic Forum is being held.
"I personally have confidence that he's going to fail... because his ideas, that guide him are inherently self-contradictory," said Soros, adding that members of Trump's cabinet are each fighting for different interests.
But he predicted the loss of the US' "positive influence in the world in favour of an open society", which would have "a very far reaching effect in Europe and other parts of the world".
Soros, who was a supporter of Trump's Democratic rival Hillary Clinton during last year's campaign, lost nearly a billion dollars as a consequence of the rally prompted by Trump’s surprise election victory, according to press reports.
But the positive reaction in financial markets would not last long, Soros predicted, because ultimately they do not like uncertainty.
US stocks retreated and the dollar fell against most currencies Thursday in the final session before Trump's inauguration on Friday.
On Brexit and Theresa May, Soros predicted the British Prime Minister's spell in power would not last long and said the UK population were "in denial" about the financial consequences of leaving the European Union.
"It's unlikely that Prime Minister May is actually going to remain in power," he said.
"At the moment people in the UK are in denial. The current economic situation is not as bad as it was predicted, they live in hope, but as the currency depreciates, and inflation will be the driving force, that will lead to declining living standards.
"It's going to take some time but when it does happen, they will realise that they are earning less than before, because wages won't rise as fast as the cost of living."
Source: AFP
GMT 20:32 2018 Friday ,30 November
Turkey hails China's 1st import expo, gets ready for next sessionGMT 12:14 2018 Friday ,26 October
Xi welcomes Abe as China-Japan ties thaw over economic cooperationGMT 15:49 2018 Tuesday ,23 October
Cooperation with Rosatom to provide new workplaces for SerbiaGMT 16:28 2018 Friday ,19 October
Presidents give start to construction project of first NPP in UzbekistanGMT 14:54 2018 Wednesday ,17 October
Presidents Putin, al-Sisi sign strategic cooperation treatyGMT 16:09 2018 Saturday ,13 October
Sisi's visit to Russia to promote cooperation in transport fieldGMT 06:07 2018 Saturday ,06 October
S. Korea, Britain agree on cooperation for post-Brexit trade dealGMT 04:17 2018 Thursday ,20 September
Gulftainer signs US$600 million concession to operate Wilmington PortMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor