Jim Rogers spoke to BBC’s HardTalk about his investments in Asia, what he’s short, and where he remains bullish.
Rogers defends his long-term position in Asia, noting that, while there are certain to be hiccups, it’s a much better place to be investing than in the bankrupt countries of the west. He admits that there is a bubble in coastal Chinese real estate, but does not see it as being similar to the situation in U.S.
Rogers also spoke on what he sees as the number one problem for China’s economy.
“I don’t mind if China has civil war, epidemics, panics, depressions, all of that. You can recover from that. The only thing you cannot recover from is water,” says Rogers. “If China doesn’t solve its water problems than there’s no China story.” He says they’re spending large amounts of money to solve this problem.
Rogers also engages in an impassioned fight over the role of speculation in the water market.
From the BBC (via Credit Writedowns):