Hedge fund legend/philanthropist George Soros thinks Russia’s attack against Ukraine and its alliance with China could spell serious trouble for the world as a whole.
After securing the backing of Chinese President Xi Jinping, “Putin set about realizing his life’s dream with incredible brutality” in attacking Ukraine, Soros wrote on Project Syndicate.
He noted that Putin has threatened to turn Kyiv into rubble.
“Having developed an idée fixe, he appears to have lost touch with reality,” Soros said. Putin erred in thinking Russian-speaking Ukrainians would welcome the invasion, Soros said.
He is chairman of Soros Fund Management and of the Open Society Foundations. He made himself into a billionaire at this hedge fund, famously earning a reported $1 billion by selling the British pound in 1992. Starting in the 1980s, Soros set up foundations to promote democracy all over Central and Eastern Europe.
As for Putin, in the wake of the Russian army’s underperformance in Ukraine, “Putin seems to have gone literally mad,” Soros said. “He appears to be acting without any constraint. He is throwing the entire Russian army into the battle and ignoring all the rules of war, not least by indiscriminately bombing the civilian population.” It’s possible Russia could lose the war, Soros said.
When it comes to China, “Xi seems to have realized that Putin has gone rogue,” Soros said. Xi has supported European-led peace efforts. But, “It is far from certain that Putin will accede to Xi’s wishes,” Soros said.
“We can only hope that Putin and Xi will be removed from power before they can destroy our civilization.” Soros said, “Russia’s invasion of Ukraine on Feb. 24 was the beginning of a third world war…”