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Why I’m Raising My Girls in Asia
05/13/2011 9:00 am EST
This article was excerpted from Jim Rogers’ presentation at the inaugural World MoneyShow Shanghai in April. It is part of a special series featuring Rogers’ unique insights into China’s economic growth, how you can profit, and where you should invest.
The United States, as recently as 1987, was the largest creditor nation in the world. The US is now the largest debtor nation—not just the largest debtor nation in the world, but the largest debtor nation in the history of the world.
Another historic shift is taking place. Sixty or 80 years ago, there was a shift from the pound sterling as the world currency to the US dollar. That same change is taking place now, but it’s away from the US dollar this time.
Where it’s going to wind up, I don’t know, but you have got to understand that putting your eggs in the basket of the US or of the US dollar is not going to be a wise approach in the next century.
US Debt Going Through the Roof
The United States, as I said, is the largest debtor nation in the history of the world, and the debts are going higher and higher.
Most people in America don’t know or care that the debts are going through the roof. They don’t seem to understand the historic significance, but this is part of this gigantic historic shift which is taking place.
My little girls are American citizens. My little girls have bank accounts. My little girls do not have American bank accounts. My little girls have their bank accounts in Asia, because they know what’s happening to the US, and they know what’s happening to the US dollar.
So, again, I bring this up because I want you to focus your attention on Asia going forward—this is where the opportunities are. The West is in decline. The US especially is certainly in relative decline, and you need to understand this going forward.
I know...many of you want your children to go to school in the US, or whatever. I want my children to go to school in Asia.
I want my children to go to the university in China because this is where the future is.
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