Details of George Soros’ failed deals in China have begun to reemerge as the leftist billionaire recently renewed his calls for a change in the Chinese Communist Party’s leadership.
As Slay News first reported last week, Soros delivered a speech at the conservative Hoover Institution, ahead of the 2022 Beijing Winter Olympics.
During his address, Soros compared the Chinese Olympics to the 1936 Olympics in Nazi Germany.
He continued by blasting China as the “world’s most powerful authoritarian state” and warned that the Chinese Communist Party (CCP) is “the greatest threat that open societies face today.”
Soros cautioned that China, “like Germany in 1936,” will “attempt to use the spectacle” of the upcoming Beijing Olympic Games “to score a propaganda victory for its system of strict controls.”
Describing President Xi as “a true believer in communism,” Soros called for new leadership at the top of the CCP.
China’s Xi Jinping is the greatest threat that open societies face today. The country’s roiling real estate market, falling population, and fast-spreading omicron variant might be his undoing, all during his prestige project of the Winter Olympics. https://t.co/1Pf0XEy29M pic.twitter.com/WMyWpPKg0y
— George Soros (@georgesoros) January 31, 2022
However, Soros’ renewed attacks have raised more questions than answers.
In the past, socialist megadonor Soros has previously heaped praise on the Chinese dictatorship.
In 2010, he praised China’s communist dictatorship, insisting that the regime functions better than the U.S. government.
Yet, by August last year, Soros had taken a complete U-turn on his support for the CCP.
Writing in the WSJ, Soros blames his change of heart on Xi Jinping’s rule, which started in 2013.
“I consider Mr. Xi the most dangerous enemy of open societies in the world,” Soros argues.
Despite Soros’ criticisms of China under Xi, however, he has still pumped tens of millions of dollars into Communist China under the current leadership.
Details of Soros’ past dealings in China were uncovered by renowned investigative journalist Matt Palumbo.
According to Palumbo’s findings, Soros’ huge investments in Chinese Communist Party-linked firms are far from consistent with his anti-China rhetoric.
In November 2016, Soros purchased 633,024 shares (or roughly $24 million worth) in the iShares Large Cap China ETF, a fund that invests in large Chinese companies.
He no longer holds this investment.
Another former Soros investment was Alibaba, of which he formally was one of the three biggest shareholders, Palumbo revealed in his report.
When criticizing China’s crackdown on business, Soros leads with the treatment of Alibaba, yet fails to mention his past investment in the company.
“That process has been unfolding in the past year and reached a crescendo in recent weeks,” Soros writes.
“It started with the sudden cancellation of a new issue by Alibaba’s Ant Group in November 2020 and the temporary disappearance of its former executive chairman, Jack Ma.”
“Then came the disciplinary measures taken against Didi Chuxing after it floated an issue in New York in June 2021.”
Soros also invested in Didi back in 2017 when it was still a private company.
As a public company, Soros Fund Management holds a staggering $38.4 million in shares of Didi (at the time Palumbo made the discovery in August 2021).
Immediately after their U.S. IPO, China cracked down on Didi, sending their shares crashing down n a matter of weeks.
Obviously, Soros has a financial incentive for his criticism of the Chinese dictatorship.
Rather unsurprisingly, however, Soros has failed to mention his past failed deals in China.
Instead, he chooses to frame his attacks as being in defense of “open societies.”
In his explosive new book, “The Man Behind the Curtain: Inside the Secret Network of George Soros,” Matt Palumbo exposes how the radical billionaire uses his global groups to peddle influence around the world.
Palumbo details how Soros uses his wealth to fund a power grab that finds its way right into the upper echelons of Democrat President Joe Biden’s White House.
The hugely popular exposé was recently snubbed from the New York Times “Best Seller” list.
Unsurprisingly, Soros owns millions of dollars worth of stock in the newspaper.
Palumbo’s “Man Behind the Curtain” is Slay News’s recommended “Must Read” book.