Billionaire George Soros said at an economic forum in Sri Lanka on Thursday that the global markets are facing a crisis, noting that China is a main risk factor for the global economy.
"China has a major adjustment problem. I would say it amounts to a crisis. When I look at the financial markets there is a serious challenge which reminds me of the crisis we had in 2008," he said.
Soros pointed out that the slowdown in the Chinese economy and the devaluation of the yuan weigh on the global economy.