Jim Rogers: The China Economic Success Story is Not Over

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Olly Ludwig: Let's talk about China for a moment. There's a fair amount of talk that the China juggernaut is at a crossroads, that what Deng Xiaoping achieved in the past generation was the easy part, and achieving steady growth is going to be a lot harder going forward. What's your take on that view?
Jim Rogers: There's no question that the first 30 years are the easiest 30 years when you're doing something like Deng Xiaoping did. And, secondly, there will certainly always be setbacks. Any country, any company, any family, any individual that rises has setbacks along the way. That's the way the world works. It's normal.
And, as we just discussed, China has been trying to slow its economy for the past three years. Anyone who doesn't understand that China is slowing down should read the newspapers. And, I as I was just saying, they're trying to loosen up too soon. But this is part of a plan. They have been successful so far, but whether they will continue to be successful, who knows?
In America, in the 19th century, we had a horrible Civil War; we had many Depressions; we had very little rule of law; we had periodic massacres in the streets; and we had few human rights. And yet we became an extremely successful country in the 20th century.
China is going to have plenty of problems as we go along. What they're going to be and when and why, I don't know. But I do know there are going to be plenty of problems.
in Goldnews interview 10 July 2012


 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%.