Ukraine invasion may be start of ‘third world war’, says George Soros
Russia’s invasion of Ukraine threatens to be the “beginning of the third world war” that could spell the end of civilisation, the veteran philanthropist and former financier George Soros has warned.
In a ferocious attack on Vladimir Putin and China’s Xi Jinping at the World Economic Forum in Davos, Soros warned that autocratic regimes were in the ascendant and the global economy was heading for a depression.
Soros, who has become a hate figure for the hard right in the US, also heavily criticised the former German chancellor Angela Merkel for cosying up to Moscow and Beijing.
With the mood in Davos already downbeat due to the war in Ukraine, Soros ramped up the gloomy rhetoric to new heights.
“The invasion may have been the beginning of the third world war and our civilisation may not survive it,” he said.
“The invasion of Ukraine didn’t come out of the blue. The world has been increasingly engaged in a struggle between two systems of governance that are diametrically opposed to each other: open society and closed society.”
The 91-year-old former hedge fund owner said the tide had started to turn against open societies in the aftermath of the 9/11 terrorist attacks on the US in 2001. “Repressive regimes are now in the ascendant and open societies are under siege. Today China and Russia present the greatest threat to open society.”
Soros, who led the speculative financial attack that drove the pound out of the European exchange rate mechanism 30 years ago, said Europe had responded well to the crisis triggered by Russia’s invasion.
“It will take a long time to work out the details, but Europe seems to be moving in the right direction. It has responded to the invasion of Ukraine with greater speed, unity and vigour than ever
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