Before I answer your questions, I would like to tell you one story first.
In 1992 when I visited a university in the central China, the principal told me that China is still a poor country. I ask him why you think China is poor ? He responsed, short of capitals.
Then I asked him 1) What is the reserve of oil in China? The minerals? Coals?
2) How many universities in China, and the population with degree
of BS, MS, DR, Post DR?
AfterI heard his response, I asked him again why he thinks China is poor ? The reason he think China is poor is because China is in short of paper money,but China's wealth is
still in the ground , in people's brain . Just like you have billions of wealth which is saved
in the bank, not in the form of paper money reserve. The value of paper money can
change anytime, and maybe in time of war, the paper money worth "0", you can not
buy oil, food, minerals with paper money at all when the seller won't sell to you.
So, our conclusion is China is a very rich country, most of the wealth is still reserved in the
form of oil, minerals, ...etc, not in the form of paper money in the bank. Besides, with most
its populations are very young , China offers a very large market to bring the world into
prospersity in the next century, where most of the rest of the world has already saturated
with over production and high productivity. The same to Asia.
I hope this answered your questions as to what Asia can offer to attract outsiders to
invest.
The recent currency crisis is just a small ripple from a long term point of view!!!!I hope
those investors are far sighted!!!
B. Regards, ED
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