Billionaire investor George Soros has warned that the world is on the verge of a third world war unless the U.S. makes a “major concession” and allow China’s currency to join the International Monetary Fund’s (IMF) basket of currencies.
According to MarketWatch, Soros, who speaking at The World Bank’s Bretton Woods conference this week, said that if China’s efforts to transition to a domestic-demand led economy from an export engine falter, there is a “likelihood” that China’s rulers would foster an external conflict to keep the country together and hold on to power.
“If there is conflict between China and a military ally of the United States, like Japan, then it is not an exaggeration to say that we are on the threshold of a third world war,” Soros said, adding that military spending is on the rise in Russia and China.
To avoid disaster, Soros said that the U.S. needs to make a “major concession” and allow China’s currency to join the IMF’s basket of currencies. This would make the yuan a potential rival to the dollar as a global reserve currency, but it would also create “a binding connection” between the two systems.
An agreement along these lines will be difficult to achieve, Soros said, but the alternative would be unpleasant.
“Without it, there is a real danger that China will align itself with Russia politically and militarily, and then the threat of third world war becomes real, so it is worth trying.”
Soros’ comments came in the same week that CNN revealed how China’s Navy has repeatedly issued warnings to U.S. surveillance planes flying over the South China Sea.
Meanwhile, ordained minister, Lindsey Williams, who purportedly has insider connections with the Elite, has confirmed on Facebook of the “planned war with China“, and has warned his fellow Americans of its consequences:
Williams had previously warned of a coming global financial collapse.