China Is the Story of the Century
Jim Rogers, the legendary investor, recently came to The World MoneyShow Shanghai to give a groundbreaking keynote speech. In his talk, Rogers said that while the greatest opportunities for investors during this century will be in China, there will also be big risks.
Over the next two weeks, we will be running a series of articles excerpted and edited from Rogers’ speech to Chinese investors. The series provides Rogers’ unique insights into China’s economic growth, advice on how you can profit, and which Chinese sectors, specifically, you should keep an eye on.
When I speak in the West, I always tell people the most important thing happening in the 20th and 21st century is the rise of China.
In my view, the 19th century was the century of the UK, the 20th century was the century of the US, and the 21st century is going to be the century of China, whether we like it or not. Many people in the West do not like that—but there’s not much they can do about it.
China is the only country in the world that I know of which has had recurring periods of greatness. Great Britain was great once. Rome was great once. Egypt was great once. But China has been great three or four times.
China’s History of Setbacks
China has been terrible three or four times too. The country had some serious problems in its long history. For 300 years it was in decline, and then in 1978 Deng Xiaoping said China needed to try something new. He opened the gates again to entrepreneurship, and you know the rest of that story.
The reason I bring it up is because most people in China do not even understand the full significance and depth of what’s happening, much less the West.