Investor Jim Rogers says China's bright future remains unchanged
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E-mail Xinhua, October 2, 2021
China's economy will continue to grow and expand, said U.S. investor Jim Rogers in a recent interview with Xinhua.
Talking about China's efforts to actively participate in the building of a multilateral economic and trade system, Rogers lauded China's commitment to greater reform and opening-up. "Open trade, open travel and open mixing with people lead to new ideas. And new ideas lead to new trade, new prosperity," he said.
He also highlighted that China's reform and opening-up has brought more people out of poverty "than ever in history, than any other country in the world."
For Rogers, a country closing off always hurts itself and the rest of the world. In this regard, he sounded the alarm over signs of the United States' own closing off.
Rogers said the competition between the United States and China should be win-win and not the target of political machination. In his eyes, the United States tries to "use politics to win the competition," which is the wrong approach.
For his next investment focus, Rogers says he is bullish about China's agriculture and rural vitalization strategy. "I'm certainly looking for investments in that area all over the world, but especially in China," he said.
Rogers also pays attention to the businesses disrupted by the pandemic. "In Mandarin you have a word, Weiji, which means disaster and opportunity are the same thing. We've had this big disaster recently, so I am looking for things to do with travel, entertainment, transportation. Anything that got really hurt by the virus, I am looking for opportunities there."
Rogers is a co-founder of the Quantum Fund. In 1980, he left the partnership, and embarked upon an independent investment career audaciously focused on frontier markets.
Having achieved building a moderately prosperous society in all aspects, China is now pursuing common prosperity, Rogers said. He expects no less from China's development objectives going forward.
When asked about China's recent regulatory moves to better manage financial risks, Rogers recalled being concerned about the aggressive lending practices present several years ago over the internet. He expressed relief at the regulatory curbs recently put in place.
"Fortunately, Beijing has figured out this could be a problem, and they have started regulating and cutting it back," Rogers said.
"I have said many times that China is going to be the most important country of the 21st century, I don't see anything that's going to change that," Rogers said.
"I know China is going to be the most important or at least a very important and successful country in the 21st century ... I'm very keen on my daughters, and I made mandatory for both of them to speak good Mandarin and to know China," he said. "I am preparing them for the 21st century."
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