Kevin O’Leary called on Monday that “extremely aggressive steps” must be taken to balance the economic situation between China and the US.
The president of the O’Shares ETF, who acknowledges that he has put China under surveillance, CNBC to Hadley Gamble, the United States; He said that Chinese companies must face some hurdles because this is exactly what China is doing to American companies in its home country.
He explained that this could include the delisting of Chinese stocks and the removal of Chinese companies from the American court system, adding that he is a manufacturer in China but faced obstacles in selling to the Chinese market.
“I can’t sell my product there, but they enjoy these benefits in Europe and North America.”
Competition between China and the USA in technology and trade has intensified in recent years. President Joe Biden stated that America and its allies should hold China responsible for “coercion and abuses that undermine the foundations of the international economic system.”
O’Leary said that he thinks Trump is much more effective when it comes to policies regarding China, because China only understands the threat. O’Leary, who thinks that European countries will not take a strong stance against China because they trust China: “The idea that we will form a coalition… This will not happen.” He stated his views on the subject.
O’Leary also shared his thoughts on Bitcoin investments
O’Leary stated that he accepted the existence of only two types of coins in the future and will only buy clean coins mined in countries using sustainable clean energy. The other of the two types of coins he mentions is the coins mined using coal in China, which he describes as “bloody coin”. He made his choice, “I am on the clean side of bitcoin.” he stated.
Although he does not give information about where he got the “clean” Bitcoin in his own words, it is known that renewable clean energy is used more in Bitcoin mining in some countries and companies.
We know that the president of the O’Shares ETF once called Bitcon garbage. However, O’Leary changed his mind and stated that he would allocate 3% of his personal portfolio to cryptocurrency.
O’Leary said that institutions do not want to support China due to the problems they have with human rights, and stated that he does his best to ensure that every coin he personally owns conforms to the conditions.