Author of A Gift to My Children Jim Rogers has returned to America. He is still a citizen and taxpayer of the US, even though he lives in Singapore. One of the gifts that he gave to his children early on was to get them out of America and to relocate them to Singapore.
Singapore has been astonishingly successful the past 40 years, and part of that is because of their flexibility. But you can succeed in a place like that. China is one of the most capitalist places in the world. California is far more communist than China, as A Gift to My Children Jim Rogers book touches on.
There are times in both China and the United States where you have to bribe the politicians to get things done. Some businessmen have complained about all of the bribes in China, and of course there are going to be a lot of problems in China. But that is the part of the world that is on the rise. They are getting better. They are the largest creditor nation. The United States is the largest debtor nation, and they are going the opposite direction. They have a serious inflation problem, but they are growing dramatically. They also have a property bubble in urban coastal cities.
China is opening up. 30 years ago, there was one Party, one television station, radio station, and one newspaper. Now there are dozens. Just because they call themselves communists doesn’t mean they really are. Italy calls itself a Catholic country.
A Gift to My Children Jim Rogers latest book is available here
