Financial security

China accuses George Soros of 'declaring war' on yuan

Chinese state media has stepped up a salvo of biting commentaries againstGeorge Soros and other currency traders as the yuan comes under pressure, with the billionaire investor accused of “declaring war” on the unit.

At the annual World Economic Forum in Davos last week, Soros told Bloomberg TV that the world’s second-largest economy – where growth has already slowed to a 25-year low according to official figures – was heading for more troubles.

“A hard landing is practically unavoidable,” he said.