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China warns George Soros against going to 'war' on its currency

Published: January 26, 2016
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Source: Yahoo Finance

China has officially issued a warning to George Soros: Beware of going to "war on the renminbi."

The message comes in a piece published in China's People's Daily titled "Declaring war on China's currency? Ha ha."

People's Daily is the Communist Party's mouthpiece.

"Soros's war on the renminbi and the Hong Kong dollar cannot possibly succeed — about this there can be no doubt," the opinion piece by a commerce ministry researcher warned, according to the Financial Times.

This warning comes at time when China's officials are trying hard to get everyone confident in the renminbi again. The currency has fallen by about 5.7% since August, when China's central bank, the People's Bank of China, first depreciated it.

As for Soros, last week the billionaire investor told Bloomberg TV that he had best against the S&P 500, Asian currencies, and commodity-linked economies.

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