The 21st Century will belong to China, says Jim Rogers, CEO of Rogers Holdings and author of “Street Smarts.” While China may face domestic crises in coming years, Rogers tells Reuters Consumer News Editor Chrystia Freeland he sees these as natural hurdles on a nation’s rise to power.
Yes I was gonna have a lot of problems I don't know what to win wire house but I assure you. Every company a family or individual north country which rises. -- setbacks along the -- When -- your strong he is that we are really entering. Asian century. To persuade some people are. Are starting to raise questions that people talk but the Chinese economy isn't slowing down and yup bogged down by government and bureaucracy. Why why he's such an. Asian -- I'm delighted that people are skeptical because that means you know there's this thing and in the investment world a bull market climbs a wall of worry. Those loans are skeptics is fun and by the way I'm very skeptical and -- to. I have no confidence in the future of India but I have great confidence in the future of China and a few other places. As I've said in the book and other places. The nineteenth century with a century of the UK -- and she was this entry of the US the 21 interest going -- to -- this entry. China and then Asia and they columns those Communists in China yes but I assure you Christian they are among the best capitalist in the world if not feet. That's kept capitalists in the world right now they save and invest over 35% of their income we in America safe to a 3% of our income. They were from -- to do when they come to work in China they don't say how many days holiday idea as they have many days and I come to work. They have a long history of entrepreneurship and capitalism. In 1978 don't show things that this is not worked this has failed let's start over. The rest is history but it's gonna go on for a long time. You just spoke in a lot about China isn't there any coming. Political crisis in China isn't there going to be a moment when. One party Communist dictatorship runs up against this sort of rising middle class and. I suspect there will be a lot of crises since and you know in the nineteenth century is America was rising. We had a horrible civil war we had fifteen deep relations with the we had very little -- of -- we had very few human rights periodic massacres in the streets you could buy and -- congress. You can still buy so congressman and America but in the nineteenth century they -- cheap. This -- 1907 host system collapse in the US and yet we became the most successful country. In between as -- -- yes I was gonna have a lot of problems I don't know what to win wire house but I assure you. Every company a family or individual or country which rises. Has setbacks along. That if any problems. And does this Asian rise which you were betting on also mean a relative decline of the US. Well the largest. Debtor nation in the history of the world is the United States of America you know who the other huge debtors are and where they are. The largest creditor nations in the world China Korea Taiwan Japan Hong Kong Singapore. The assets are in Asia and the deaths -- -- so probably. Unless something dramatic happens. You know -- -- -- in decline in the UK was the richest most powerful country in the world in 1918. We've been through generations it was bankrupt they couldn't -- government bonds I don't particularly like saying -- I'm an American citizen and American taxpayer. But facts are facts.