Saturday, April 22, 2006

TAIWAN TO BE 'EXCITING' MARKET IF CHINA TIES IMPROVE: FUND MANAGER

Taipei, April 22 by Sofia Wu (CNA)

Taiwan will be an "exciting" market if relations across the Taiwan Strait improve, a legendary U.S. investment expert said in Taipei Saturday.

Jim Rogers, a co-founder of the Quantum Fund, one of the world's most successful hedge funds, made the forecast after delivering a speech to local fund managers and stock investors.

Rogers is known to bear a strong confidence in the vast Chinese market. He once famously predicted that China would emerge as the world's largest economy in 20 years. He hires a babysitter of Chinese descent to care for his 3-year old daughter to allow for her to grow in an English-Chinese bilingual environment.
If Taiwan maintains a good relationship with China, Rogers said Taiwan will definitely be an "exciting" market for investors.

Rogers also predicted that the current raw materials market boom will continue gaining momentum in the coming decade. He attributed the phenomenon in part to China's rise.

For those intending to invest in China, Rogers said farm produce, industrial raw materials and tourism-related industries could be the best bets.

Noting that Chinese people have been banned free movements for nearly a century, Rogers said the travel service sector has an amazing growth potential when their government lifts overseas travel ban.

Rogers said he plans to relocate to the greater Chinese region. In addition to Shanghai, Singapore and Hong Kong, he said Taipei is also a possible destination.
Meanwhile, Rogers gave a pessimistic forecast on the U.S. dollar's prospect. The astronomical U.S. trade deficit has dimmed the greenback's value, he said, adding that at least 10 to 12 other foreign currencies, such as the Chinese yuan, the Singaporean dollar and the Canadian dollar, are more valuable than the greenback.

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