China Bears Have It Wrong: Jim Rogers

I like Jim Rogers, but I think he has the China fever. Like most people, he has been blinded into believing that the economic boom in China will continue for posterity. He likes to make the analogy that, just like America rose to power in the 20th century, China will continue to rise to power in the 21th century. But there is a big difference. America rose to power on a foundation of integrity whilst China is doing so on a foundation of deceit.

He is quick to criticize Jim Chanos' view about China by pointing out that "he's been dead wrong for two years, I hope he's still solvent." As early as 1995, Rogers was expecting a bull market in commodities, and it didn't really start until the year 2001. So he was dead wrong for six years. As a consequence, Rogers has described himself as the worst market timer. Well, now he is not alone. In the same way as Rogers was off by a few years although his views were right, Chanos will be off by a few years although his views are right.

Source: http://www.cnbc.com/id/43629269

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