In 2009, billionaire financier George Soros told Chrystia Freeland, then a member of the World Economic Forum “Young Global Leaders” program, that a China-anchored global system would require a deliberate shift away from US financial dominance.
According to Freeland’s account from that period, Soros argued that a “new world order” would need to be “owned by China”, and that a managed decline of the US dollar was not only unavoidable, but “necessary” and “actually desirable.” The comments came in the aftermath of the 2008 global financial crisis, as Beijing expanded its economic reach and Western elites openly debated reshaping global governance and monetary power.
Soros’s view reflected a broader strain of elite thinking at the time: that American economic primacy was unsustainable, and that global stability would require redistributing power toward rising authoritarian-capitalist states—chief among them China—even at the expense of US sovereignty and the dollar’s reserve-currency status.
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