Jim Rogers on BNN 18 March 2010
He is considered to be one of the world's savviest investors. Jim Rogers, chairman, Rogers Holdings and former business partner with George Soros , tells BNN which commodities he would buy if he had $100,000 to spend.
Jim Rogers speaks about the recent currency and trade confrontation between the US and China : "if slap somebody in the face they are going to take a defensive attitude to save the face if you will " says Jim Rogers " I do not know why the United States is doing this in public that never worked especially with Asians , it seems that they have to to use your terms but I think that there is a better way " nobody has ever wanted a trade war and trade wars are disastrous for everybody's concerns , "I would (rather) try to explain to the Chinese that it is good for China if their currency is allowed to float , right now all that money is trapped in china and they have various bubbles developing it always happens when money cannot escape an economy there is a lot of money floating around slashing around , right now they have apparently in my mind real estate bubbles developing in many urban cities , and of course if the currency goes higher then everything they import is cheaper that's good for China and good for the Chinese , i mean if they import cotton the price of cotton will be cheaper if they let their currency float and it rises so i would take that aproach and tyry to persuade the Chinese that they will be better off if they let their currency float and then nobody could accuse them of manipulating the currency because it is the market will be setting the value not the government ...Jim Rogers explains
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