Also in this playlist...
This transcript is automatically generated
-- that's one line of a debate that I'm willing to -- our next guest disagrees with at least in part we welcome back to America from Singapore the author of a gift.
But my children and one of the world's best known international investors Jim Rogers Jim great to see I am very -- -- be here David and by the way you're still -- you're still a citizen of the US even though you that you spend most your time in Singapore I am a citizen and a taxpayer Harris voter in the US let's start with Singapore -- the place where you hang your -- most of -- Isn't that sort of perfect example of the nanny state where -- You can't spit on the streets for fear of getting arrested.
Well it's loosening hub should you but all due respect the singer I think it was an enormously successful of course -- has -- has been astonishing.
And a lot of that has been because a very strict discipline.
A lot of other nations should have had should just -- they have the Congo's had a very strict political system.
But they've gone down the tubes in the last forty years but you also have to have.
Companies have to have a certain flexibility that.
That a nanny staters certainly Communist state don't give it right -- and it Singapore if you come in say this is what we need Singapore says OK now you've gotten.
If you -- -- the -- factored -- -- -- you get it you needed and you can you can succeed in places like that.
Now as far as China I heard you call them you know they call themselves -- -- there's no question about that.
But they had the best capitalists are among the best -- in the world.
California's more Communist than China is -- what -- be specific but India China if you all -- businessman I know most of them say we'd rather do business in China than just about anywhere because if you need something.
The less -- some third you can get you can get it done but sometimes.
Way you get it is not through the rule of law doing things regularly but through bribes are doing -- under the counter right -- and -- I was like cause problems but sounds like America doesn't you know all of that out.
There are -- -- you have -- look look I'm not naive Jim I I am not naive I understand that there are times.
When he got to pass the -- when he got to do things under the table setter here -- what we we have many too many regulations here but you do have the rule of law here and you don't have.
That sort of arbitrary nature of what will favor you but I won't favor you that you have over in China.
But you certainly do have some of that David we -- -- -- to -- you remember Fannie Mae absolutely regular at a 100% global political boondoggle.
But -- paying off congressman every day senators and they -- should be in jail.
The people -- and congressman -- -- in -- come always but I've bribes in China apparently gotten to the point where a lot of companies are moving back we've had we've had companies here -- scoreboard.
That had their operations in China but since so many.
We had to -- so many bribes -- so many of our shipments came back ruined that we finally decided to move back to the United States even though we have higher labor.
Aaron allow -- -- China been since you're gonna take the other side I'll take this -- and that's the story for okay.
Yes they're going to be lots of problems in in China I assure you and there are lots of problems in China.
But the country that I see on the rise is China -- the largest creditor nation in the world.
They have a huge balance of trade surplus.
And it's getting better we're the largest debtor nation in the history of the world and it's getting worse do you believe that their stats in terms of their growth rate.
But I don't believe any government stats.
Probably not a -- -- millionaires out of Germany -- -- anybody because some generals say send particularly -- -- again talking to some of the businesses that have pulled back hearsay.
They believe that there is a slow down a great still growing great guns compared ours but at a slower rate they're trying to have a slowdown they've got a serious inflation problem when the big mistakes in China has -- -- in the Phillips curve you can have high growth without inflation gets it.
Please I don't believe any I don't believe economy suddenly politicians but I don't believe bureaucrats.
But I will say that China is growing very dramatic that they're trying to slow down they've got an inflation problem serious and players and they got to property bubble.
In urban coastal cities.
And they're trying to do -- -- here's here's the bottom line don't you eventually have to have a political system.
That as is as free or at least I tends to be as free as the economic system for the whole country to sustain its growth David is opening up when I first went to China thirty years ago one -- One.
One TV -- television one.
Radio One news right now there dozens and scores.
Everybody's on the Internet people to protest you know -- the Communist Party down there.
They -- -- may call themselves com Italy called himself a Catholic country it is not a Catholic country -- they say they -- up.
The Communist Party may be around 100 years but is not the Communist Party no Communist party's ever succeeded.
And that's why they change what Jim Rogers I wish you hung your hand here in New -- we wanna see more of you please come back to -- again our discuss things -- you many times you need help.
Chicken thank you were we all need help but I'll take your advice and -- that Jimmer.
Filter by section