The great investor George Soros said that the war in Ukraine should be ended as soon as possible because it diverts attention from climate change, and therefore threatens civilization.
“While the war is on, the fight against climate change has to take second place. Yet experts tell us that we are already far behind, and climate change is on the verge of becoming irreversible,” Soros said.
Speaking at his annual presentation before the World Economic Forum in Davos, Switzerland, the 91-year-old lashed out at Russian President Vladimir Putin and Chinese President Xi Jinping, saying they were a threat to open societies.
“What do the two dictators, Vladimir Putin and Xi Jinping, have to show for themselves? They are bound in an alliance that knows no bounds,” said the founder of the Open Society Foundation. They both rule by intimidation, and they make “mind-shattering mistakes” as a result.
He said Xi’s focus on zero-COVID policies has had disastrous economic consequences – which, Soros says, he will never do because he cannot admit a mistake. He said, coming on top of China’s real estate crisis, there is a risk of damage to the global economy by disrupting global supply chains.
Soros also called on former German Chancellor Angela Merkel to make special deals with Russia for natural gas, making China Germany’s top export market. Merkel’s successor, Olaf Scholz, “seems to always do the right thing – in the end,” he said.
Soros says he wrote a letter to Italian Prime Minister Mario Draghi on Monday, saying Russian reservoirs would be filled by July if the country did not continue selling natural gas. He said that if farms in Siberia had to close, they would lose half their production when they started again because of outdated equipment. He said he does not support an oil ban because “oil is fungible,” but that natural gas in Europe has higher returns than is generally believed.
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Credit: www.marketwatch.com /