Soros: Uncertainty about higher cost of new energy development

Yesterday afternoon, the founder and chairman of the Quantum Fund, George Soros, a leading international investor, said in a question-and-answer session after a speech at Fudan University that the global bull market had not yet come, but that China could be the exception and that the Chinese economy was recovering better than other countries.　　As for the Asian financial crisis of 1998, "I am a little worse than others". In the face of inflation expectations reflected in recent commodity increases such as oil prices, Soros believes inflationary pressures are obvious.　　He said the global economic recovery will be slow, but there is little room to continue the downward spiral. Soros said energy is an important global problem for new energy sources, but the cost of new energy is higher.　　In this respect, Soros Fund management company Macro Investment Department, Dr. Dai told Xinhua news agency reporter, the new energy industry's development prospects are uncertain, but Soros Fund management companies in the new energy and agricultural areas have investment.　　Never offer investment advice Q: You are an investment expert, you will give Chinese investors what kind of advice, will be actively bold to buy? Soros: I never offer that advice.　　As I have said before, the market has been changing, our financial system and economic system is always in a distorted state, this is a fact, and our understanding, will lead to future financial markets in a way we can not predict to an unprecedented direction in the development.　　Q: How do you view the current world economic situation and how to judge the bottom of the global economy? Soros: Many governments are trying to avoid a market slump, but as I said before, financial markets reflect some of our economic expectations, and so far the market has seen some panic about the unknown.　　In short, the global economy has so far been unable to show reliable growth signals.　　1998 I'm worse than others. Q: How do you evaluate the U.S. government bailout policy, and is the banking system in the US now improving? Soros: The US government has done a lot, and that is enough, but not very successful. Perhaps the problem is how banks can use the money from the government to restore lending to the banking system as the key to resolving the current crisis. It is now the case that the U.S. government is offering money to banks, but banks that accept government money are not willing to make up for their balance-sheet loopholes to return the money to the government as soon as possible.　　But banks are still watching and people have not started saving. Q: There is also a historical problem, the Asian financial crisis in 1998, which caused great damage to the countries of Asia, but made you make a lot of money, do you have any regrets?　　Do you also worry when someone is dissatisfied with you?　　Soros: What I want to say is that there are principles to be followed in the trading of financial markets, and I have been trading under the market principles, perhaps different, in accordance with the premise of market principles, I am a little bit worse than others.　　Q: Can you talk about China's current economic situation, banking system and future trend? Soros: from ChinaBefore the situation of energy consumption, the Chinese economy has bottomed out and began to recover. In the future, the world financial system will emerge from the collapse and be rebuilt.　　But the long-term development of China's economy awaits the development of domestic demand, otherwise the economic growth will be capped.　　China's banking system is in good condition.　　Not interested in the U.S. market Q: Do you think China has started to restore growth to become the engine of global growth? Soros: China will be the world's first country to recover, but the figures show that growth is not stable, that some numbers are doing well, while others are not.　　But with the stimulus of the Chinese government to expand credit and expand investment, China's economy will grow significantly.　　China's economic development scale is only one-fourth of the U.S. economy, the future of China's economic development is limitless, will become the driving force for the development of the world economy.　　Q: From the capital market situation, will you increase your global investment? Soros: I will not put all my money into equities or other financial assets because the outlook is uncertain. Global stock markets remain pessimistic, and it is hard to agree that the so-called global market will usher in a bull. If only from China's perspective, the market outlook is expected, China is a very potential economy, the economic recovery will be faster than other countries. Frankly speaking, I'm not interested in the American market.