Troubled Economic Forecasts
Recently, an article entitled “It’s 2008 All Over Again: George Soros Warns China Will Spark Global Financial MELTDOWN” appeared on the online news website Express. The piece reported that billionaire financier George Soros has told an economic forum recently that the current global economic situation reminded him of the fiscal crisis which occurred during 2008.
His gloomy predictions about current market trends have fueled extensive coverage in some media publications. Possibly recent political events in Russia support the idea that a chill has descended across free market processes in some parts of Eastern Europe. The issue of whether artificial restrictions upon the free flow of ideas usually accompany economic downturns has fascinated historians for generations.
Of course, most Americans appreciate that the diplomacy between the United States and Russia has not always proceeded smoothly even during prosperous economic times. While the United States enjoyed a booming free market economy during the hip 1960s, Russia and many states in Eastern Europe struggled under oppressive Soviet Bloc monopolies. The USA and the U.S.S.R. narrowly avoided global conflict during the early years of that decade.
With the end of the Cold War during the early 1990s, most people hoped that relations between the the two superpowers would inspire international friendship. George Soros and others worked hard to persuade Russians to modernize economic and political institutions. Americans briefly began adopting Russian orphans in large numbers and welcoming Russian immigrants into U.S. society.
A Cold Front Strikes Eastern Europe
Recent events suggest that not everyone has forgotten lingering Cold War tensions. Billionaire George Soros has invested considerable time, money and energy attempting to promote the spread of democratic ideals in former totalitarian states through his charitable civic endeavors.
Yet after Russia’s post-Cold War political relations with the Obama Administration turned frosty in the wake of Russia’s seizure of the Crimea, officials in Moscow placed two branches of organizations associated with George Soros on a list of entities viewed as undesirable by the Russian government. This year an educational institution in Northern Russia reportedly permitted political activists to remove hundreds of books from college library shelves, some of them linked to the charities founded by the billionaire investment manager.
Does the recent Russian censorship relate to a purely political chill? Or do overtones of economic gloom motivate these harsh measures? Answering this question holds importance for entrepreneurs.