Soros sees crisis in global markets that echoes 2008

Colombo

GLOBAL markets are facing a crisis and investors need to be very cautious, billionaire George Soros told an economic forum in Sri Lanka on Thursday.

China is struggling to find a new growth model and its currency devaluation is transferring problems to the rest of the world, Mr Soros said in Colombo. A return to positive interest rates is a challenge for the developing world, he noted, adding that the current environment has similarities to 2008.