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Strategies & Market Trends : JAPAN-Nikkei-Time to go back up? -- Ignore unavailable to you. Want to Upgrade?

To: borb who wrote (3280)	2/27/2003 7:55:23 PM
From: big guy	Read Replies (1) \| Respond to of 3902

A little dated but interesting article by Jim Rogers. "How long does the dollar have? A year? A decade? I’m not so sure. As long as there’s no other currency stepping up to the plate and EU continues to struggle with the euro, the U.S. government will likely be able to continue to jigger the books, essentially floating our enormous tab on the backs of the rest of the world. But remember: Whenever there has been an economic crisis like this, a new player has always emerged on the economic landscape. A century ago, few people would have believed that the dollar was going to emerge out of the 19th century as the dominant world currency. There’s always a phoenix that rises from the ashes. Who will it be for the 21st century? My guess is the Chinese yuan may eventually have its day in sun. The nation has a recipe for a sound currency—a huge population, an enormous balance of payments surplus, and a sizeable GDP to match. China is now the world’s largest importer and the world’s second largest creditor (Japan is first). For the moment, its currency is not convertible, which must change now that it has been admitted to the World Trade Organization. There are still a lot of cultural barriers to get over—rampant xenophobia and fear of capitalist interests—but nothing assuages fears like steady flows of money into your coffers." The rest of the article can be found here. jimrogers.com