A Bull in China by Jim Rogers
This book is subtitled Investing Profitably in the World's Greatest Market." Rogers
writes the most interesting investing books, because he doesn't view life only from a
Manhattan Wall Street window.
He's traveled around the world both by motorcycle and by automobile, going places few
other people (besides the local populations and, by crossing through wilderness areas,
even going where the local people don't) have visited.
He visited China when it was still taken just a few tentative steps down the "Capitalist
Road," was perhaps one of the first foreign devils to buy a share of stock in post-Mao
Shanghai, two years before the modern exchange officially opened.
He's proven his belief in China's economic future by hiring a Chinese nanny for his
daughter so she'll grow up speaking Mandarin. (Actually, I would have thought
Cantonese would have been a better choice for doing business in China, but I'm no
Rogers outlines a sketchy political history of China after Mao's death, and describes its
incredible transformation from the Cultural Revolution to unbridled capitalism with
incredible rates of growth.
He writes chapters on how basic industries -- energy, transportation, tourism, agriculture,
health, education and housing -- are doing in China and provides names and descriptions
of Chinese companies in these areas. He's careful to say these are not suggested starting
places, not recommendations.
His basic thesis is that China in the early 21st century is the equivalent to the United
States of the late 19th century. It's on the verge of a huge surge in wealth creation.
And yes, sometimes it will be rough. They will make mistakes. There is corruption in
China. There are social problems. Companies will go out of business. Sometimes the
market will crash. But twenty years from now investors in China will be happy they took
I suspect that much of what he says is true, though the comparison is not strictly
accurate. China lacks the massive, unt