George Soros: China a 'positive force'

George Soros: China a 'positive force'
The billionaire financier George Soros says that China's economy will grow faster than people expect and so will its global economic influence.

SHANGHAI (Reuters) -- Financier George Soros said on Sunday that China's global influence is set to grow faster than most people expect, with its isolation from the global financial system and a heavy state role in banking aiding a relatively swift economic recovery.

He reiterated his cautious views regarding the surge in global stock markets, although he said it may have further to go given liquidity in the markets and that many investors are still sitting on the sidelines.
"In many ways, Chinese banking has benefited from being isolated from the rest of the world and is in better shape than the international banking system," he told an audience at Shanghai's Fudan University.

China's extensive capital controls have helped to shield its financial institutions from the worst of the global financial crisis.
http://money.cnn.com/2009/06/07/news/international/soros_china.reut/index.htm?postversion=2009060712