Jim Rogers: I don’t trust numbers from any government, as most are
made up, as you probably know. China has had astonishing growth, but
they have problems with housing and inflation. We had the same problems
in the 19th century when we were growing rapidly. Every country that
rises rapidly has problems. China can see a recession, but the US saw
recessions and 13 depressions in the 19th century, and was still the
greatest nation in the 20th century. They are trying to slow down, which
is the right thing to do. It’s natural they slow down from these growth
rates. They are preparing the economy for long term sustainable growth.
The only way the China story runs into big problems is if they run out
of water. China has a major water problem. They are working hard to
solve it. I believe they will solve it. If you want to make a lot of
money find companies that are working to fix that problem. As for their
stock market, it’s getting closer to a buy. I bought a few shares on
Friday. Their market is getting to the point it should be bought.
Jim Rogers is a bestselling author, financial commentator and successful international investor. Rogers was a co-founder of the Quantum Fund (considered to be the first truly international fund of its kind) and is the creator of the Rogers International Commodities Index (RICI).