Soros is worried that the Chinese stock market tanking is a repeat of 2008. He said that in 2011 as well.

“China has a major adjustment problem,” Soros said. “I would say it amounts to a crisis. When I look at the financial markets there is a serious challenge which reminds me of the crisis we had in 2008.”
Soros has warned of a 2008-like catastrophe before. On a panel in Washington in September 2011, he said the Greece-born European debt crunch was “more serious than the crisis of 2008.”

After a 7% slide, trading was halted again in the Chinese stock market.