Soros gave fairly gloomy forecasts for world's economy

American billionaire George Soros presented fairly gloomy forecasts for the world's leading economies in an interview during the annual meeting of the World Economic Forum. The investor is one of the biggest critics of the newly elected US President Donald Trump, but he also sees a big skepticism and populism in European Union, which might cause additional delay of the world economy growth.

"America elected for president, a man dreaming to be a dictator, while the European Union is falling apart, British Prime Minister Theresa May will not rule for a long time while her country is trying to leave the union, and China will become even more repressive society", said the US investor George Soros. "It is unlikely the UK prime minister Theresa May to keep power", he said. In his words, she manages a divided cabinet and the British are quite reserved in terms of economic effect of Brexit.

On Tuesday, Theresa May, who form a government after the referendum in July, presented her strategy for exiting the EU, including leaving the single trade union.

"The growth in the stock market since November after the vote in the US, fueled by promises of Trump, will come to its end. The uncertainty is leading, but it is the enemy of long-term investment", says Soros. "I do not think that the markets will do very well. Now they still celebrate. When the reality came, however, it will prevail", added the investor.

George Soros stated that Brexit and Italian referendum had a significant pressure on the EU. He said that commercial unit is not functioning properly because it is guided by laws that are not appropriate to the circumstances in the present.

"If Europe collapses, the consequences will be very scary. I see an opportunity, however, the union can be saved and the same opinion are many people in Brussels", said the businessman. "China has not succeeded in changing the growth model and probably will not be able to do so in the next two years because Xi Jinping wants to maintain an unsustainable growth rate. It does this by producing more goods and glut of supply", added he.