"The Chinese government does have a plan to stay tight to calm things down. Some people are going to suffer, and that's what's happening. But that will be good for China in the end," said Rogers.
"Even if some sectors of the Chinese economy have a hard landing and some people go bankrupt, people (doing business) in other sectors, such as agriculture, culture, pollution, etc, will not be affected at all, because these fields will enjoy great prosperity in the years to come," he added.
He said all countries that rise have periodic setbacks along the way, but that's the way the world works.
"China is going to be the most important country in the 21st century, and eventually the largest economy in the world," he said.- in chinadaily
Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.
