December 28, 2007
News & Opinion: Book Excerpt - Bull in China
This is from Rogers' current book in which he examines the growth and future of the Chinese economy. He just didn't stumble upon this, he first came upon China's importance in the world back in 1984 on his motorcycle tour around the world. Rogers has been following this certain country's growth and development for some time. Take a look at just one of the many things he has noticed:
With a growth rate averaging 9 percent since the start of the 1980s, the value of the Chinese economy has pretty much doubled each decade, and shows few signs of stopping.
If projections hold, China will surpass the United States as the world's largest economy within twenty years. On top of that, China attracted nearly US$70 billion in direct foreign investment during 2006, which, combined with its trade surplus, has brought Beijing's foreign-currency reserves above US$1.3 trillion (now the larget in the world). In one astounding decade, China's manufacturing base for durable goods increased one hundredfold.
But all those heavy numbers are just a starting point. Sleek office towers and assembly lines rising from rice paddies don't mean as much as China's immeasurable advances in civil conduct, internationalized awareness, and opportunities for achievement. In urban areas, the traditional greeting "Have you eaten today?" has been replaced by "Have you surfed the Net today?" Chinese executives, engineers, artists, athletes, and designers are already leading the world into "the Chinese century".
FYI: Rogers' book Hot Commodities has just been published in paperback!
Other Jim Rogers books include:
About Dylan Schleicher
Dylan Schleicher has been a part of the 800-CEO-READ claque since 2003. Even though he's stayed on at the company, he has not stayed put. After beginning in shipping & receiving, he joined customer service and accounting before moving into his current, highly elliptical orbit of duties overseeing the ChangeThis and In the Books websites, the company's annual review of books and in-house design. He lives with his wife and two children in the Washington Heights neighborhood on Milwaukee's West Side.