"Self-proclaimed "adventure capitalist" Jim Rogers made millions on Wall Street, cofounding the Quantum Fund with legendary investor George Soros before "retiring" in 1980, at age 37, to travel the world in high and low style looking for the next big moneymaking idea. Since then, Rogers has notched a couple Guinness Book of World Records mentions for his global road trips chronicled in Investment Biker: Around the World With Jim Rogers and Adventure Capitalist: The Ultimate Road Trip. And he has been lauded for predicting the current rally in commodities. Now, he's touting the big boom in China. Ahead of the release of his new book, A Bull in China: Investing Profitably in the World's Greatest Market, Rogers talked with U.S. News about Asia's rise and America's problems. Excerpts:"
What is China's economic growth comparable to?
It is their industrial revolution. I don't think we've ever seen a huge economy transformed so quickly as we've seen happen in China over the past 30 years. We're talking about a billion 300 million people who've gone essentially from subsistence living to the most rapidly growing economy in the world.
How should you invest in China today?
The best thing to buy now is the currency, the renminbi. I don't see how one could fail there. It's got to go higher over the years. Buying commodities is another way to invest in China because China absolutely has to buy them....MORE