Jim Rogers in Korea

Jim Rogers in Korea
By Yoon Ja-young
Staff Reporter

``My view is that the bond market has peaked. Bonds will be terrible place to be for next 10 to 20 years. I've sold bonds,'' said Jim Rogers, CEO of Rogers Holdings. He said that there are plenty of stocks while commodities are lacking, and added that prices will go up as central banks print more money. He advised investors to dump dollars, bonds and invest in commodities.
Rogers, the 66-year-old who co-founded the Quantum Fund with George Soros, had a bright outlook for Korea's initiative to become a regional financial hub.

``Asia is the place where the money is now. Previous financial centers like London and New York are in decline.'' He pointed out that massive regulations had marred Korea despite the great success story the country had. When backed up by deregulation, it could be a winner.
``Korea has some advantages. It is a huge country with over 45 million people. Plus in my view, I think there will be a merger between north and south, much sooner than people think. If I am right, Korea will be very, very dynamic place.'' He said the natural resources and very cheap labor of North Korea could have a synergistic effect with the strength of the south.

Its location, being right there on the border of China, also gives the country huge competitiveness. ``I don't think China will become a financial center as they have too many regulations.''

He said that the 21st century would be the century of China, and advised people to learn Chinese. ``I know they call themselves Communist, but they are one of the best capitalists.'' He pointed out that Chinese save over 35 percent of their income and work from dawn to dusk, while Americans save only 2 percent.

``Best advice I can give you is to teach your children and grandchildren Chinese. It's going to be the most important language in their lifetime.'' He added that his two little daughters are learning Chinese.

He criticized the bailout programs taken by the U.S. government. ``What's happening in the West now is governments are taking assets away from competent people to give to incompetent people.'' He said it was a terrible weakening of the system, something the Japanese already tried and failed to do in the 1990s.

http://www.koreatimes.co.kr/www/news/biz/2008/11/123_34280.html
12/11/2008
tjhinkh: Jim mentioned that bonds will be a bad investment for the next 10-20 years. Bonds have peaked at about now.
He also mentioned that the North and South Korea may unite. This will be advantageous. North cheap labour and rich in natural resources. And close proximity to China is also a huge advantage.