He's been predicting global financial meltdown for over 20 years. First in 1987, then again in 1998, and finally, and correctly, in 2008.

Mr. Soros was speaking at Peking university on the topic of the “Causes of the Global Financial Crisis” to some of China's top students and business professionals. He said that in his view A Super Bubble has been building for 25 years and was bound to burst - but it has taken longer then he expected to come about. However due to his firm belief in this theory, the seat of most of his $11bn fortune – Soros fund management – has been one of the few financial organizations to escape the worst of the current chaos.

The financial guru also had good news for China and those investing in the country regarding it's role in financial recovery.