Global markets turmoil echoes 2008 financial crisis, warns George Soros

Billionaire investor-turned-philanthropist says China's struggle to find a new growth model is spreading problems to the rest of the world

Billionaire speculator George Soros has added to the gloom in global markets by claiming the world risks a return to the turmoil of the 2008 financial crisis.

Soros, who famously helped to force the pound out of the exchange rate mechanism on Black Wednesday in 1992, highlighted China's struggles to find a new growth model and said its currency devaluation was spreading problems to the rest of the world.