Experts deny down for pound advised by Soros

Soros, a financial crocodile, said recently to allow pound devalued by the new British government in May for the purpose of keeping its economic growth.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

He said: “It would be many ways to adjust economic growth, depreciation of the might be one of the choices for British government to plan the policy.” Data shows pound sterling has dropped 25 percent since 2007, with budget deficit accounting for 12 percent of U.K. GDP, almost the same with that of <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />Greece. In February its debt rate climbed to 60.3 percent of the GDP.

Doctor Jiang Shu with Industrial Bank Corp. says that Soros advice is reasonable, difficult in exertion, because, first, U.K. would suffer losses politically in blaming others “exchange manipulator”; second, depreciation of pound is rather difficult at present when its central bank plans to limit inflation rate about 2 percent, as the market expecting the increase of interest rate. Jinag also indicates although Soros’s advice adopted, it could hardly see economic warming in UK, for the effective of time lag exists after depreciation.