Jim Rogers : China will have many setbacks

HAI: Do you think China’s transition from a manufacturing-based economy to a more consumer-oriented economy is going smoothly?

Jim Rogers: I read all this stuff in the press. And I'm not quite sure how you tell 1.3 billion people they’ve got to stop building infrastructure and start consuming. That’s not the way the world works, at least with no human beings I know. It’s happening gradually, just as it happened in the U.S., U.K. and many other countries historically. There are going to be setbacks in China. Goodness knows, no economy or market goes straight up. They all have setbacks. China will have many setbacks.
In the 19^th century, America had a horrible Civil War. We had several depressions, very little rule of law, very few human rights. And yet we became a pretty successful country in the 20^th century. So China is going to have plenty of problems. What I plan to do is, when I see serious problems in China again, I hope I'm smart enough to pick up the phone and buy more China.  - in HardAssetsInvestor



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%.