 I think that China is going to be a greater and greater force in the world’s economy in every way. And I think that in our relations generally with them, we’ve often had a superior attitude about things … Americans do that all the time. I probably do it myself. We are used to being King Pin and, we may have to learn a bit more humility. I mean, there are other major countries in the world that do not have to accept orders from the United States.
— Warren Buffett
He also sees a “fairly significant” chance of the US going into a recession.