Davos: On the eve of Donald Trump’s inauguration as the 45th President of the US on Friday, Billionaire investor George Soros said the incoming President was “going to fail”.
During a speech here, the venue for the World Economic Forum, Soros on Thursday called Trump a “would-be-dictator”, saying he was “gearing up for a trade war”, Xinhua news agency reported.
A trade war would have “a very far reaching effect in Europe and other parts of the world”, warned Soros, a supporter of Democratic candidate Hillary Clinton during the 2016 presidential campaign.
The “would-be-dictator … didn’t expect to win”, he said.
He is going to fail “not because of people like me who would like him to fail, but because the ideas that guide him are inherently self-contradictory,” Soros said.
The financial markets will “not do very well” due to the uncertainty caused by the Trump administration, Soros further predicted.
“Right now uncertainty is at the peak,” Soros said, adding it was “impossible to predict exactly how Trump is going to act”.