Jim Rogers About Commodities, China and Others
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Why is China booming? Are these prices for commodities still safe to buy and what about the U.S. dollar? All these questions and the outlook for the rest of 2009 and 2010 from Jim Rogers.
21st century for China
We must not forget the rest of Asia which is growing as fast as China. The reasons are many, but according to Jim Rogers it is particularly important to note the following:
1.) The Chinese want to live as people living in the west
2.) They are eager to work
3.) They have better morale, in terms of savings
4.) There are about one and a half billion people in China (all Asia population reaches three billion). Western countries are mostly in the role of borrowers.
"Of course, that in emerging Asian economies will be some slowdown, but there are many investment opportunities. And if you already see a slowdown in Asian markets, pick up the phone and get involved in trading. I think that our children should learn Chinese," says Rogers.
The road to global economic domination of China was started in 1978 with Deng Xiaping's capitalist program. Jim Rogers sees China's dominant position in markets like an unstoppable wave of growth, except for one small flaw — problems with water. In China there are many places without drinking water. And where there is no water, they can not even be people. That is why China has come up with aggressive and maybe a bit drastic solution to the problem and therefore can no longer see the future water shortages, as an obstacle to sustainable development.
US dollar outlook
Depreciation of the dollar may result in U.S. currency collapse as a reserve currency. It is seen in the market, where many people sell the dollar, because of its steep decline.
October 28, 2009
Jim Rogers has taught finance at Columbia University's business school and is a media commentator worldwide. He is the author of Adventure Capitalist, Investment Biker, Hot Commodities, A Gift to My Children, and A Bull in China. See his website.
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