George Soros says the US and China are in a cold war that could turn into a hot one

The US billionaire George Soros warned that the United States and China, the world’s two largest economies, are locked in a cold war that could soon turn into a hot one.

Soros, a major donor of the Democratic Party and critic of US president Donald Trump, was speaking at a private dinner at the World Economic Forum in Davos, Switzerland.

“Regrettably, President Trump seems to be following a different course: make concessions to China and declare victory while renewing his attacks on U.S. allies. This is liable to undermine the U.S. policy objective of curbing China’s abuses and excesses,” Soros said, cited by cnbc.com.

“The reality is that we are in a cold war that threatens to turn into a hot one,” he added.

Washington and Beijing have been stuck in a tit-for-tat trade battle for several months.

The next round of negotiations is scheduled to take place at the end of this month, when Chinese Vice Premier Liu He travels to meet US officials in Washington.

At the same speaking event, the Hungarian-American businessman also described China’s Xi as the “most dangerous” opponent to those who believe in open society.