Jim Rogers attended the China International Financial Services Conference (CIFSC) held in Guangzhou on September 10, 2009.
Since the global financial crisis, the governments around the world have adopted a quantitative monetary policy to stimulate economic growth. How does Rogers see these policies? Does he think there is space for improvement?
Rogers notes that the Chinese Government is very wise to buy a lot of energy and raw materials when prices were low. In another 15 years, the world will be shocked by how much energy the Chinese 4 trillion Renminbi gets.
Rogers thinks that China's future is very promising. He gives the highest score to Chinese government's response to the crisis in the world. The Chinese government has accumulated a lot of resources and capital in the past 50 years. Now they have begun to put it into infrastructure, and investment health care, education and other causes. In the future the competitiveness of China will be very strong.
He adds, however, Guangdong and other provinces need to focus on exports to domestic market, other Asian countries such as India, Africa and South America. The purchasing power of the United States is unlikely to be as strong as in the past, but rather a long-term decline.
By People's Daily Online
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