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"China is the next great country in the world," said Jim Rogers, chairman of Rogers Holding, stating the center of the world is shifting to Asia in his special lecture themed "How I see the World Today and Commodity Market," chaired by Andreas Neuber, CEO of UBS Hana Asset Management, on October 15.

Rogers started out with a two-minute video on his three-year journey through 116 countries, and then shared his views on the future of commodity market and the emergence of Asia. "Center of the gravity is shifting. It is going to be dramatic in the future," said Rogers emphasizing a greater role that Asia is to play in the future.

The bullish commodities investor pointed out that the U.S. is becoming the largest debtor nation in the history of the world, whereas Asia is becoming a place where all the capital and assets are flowing into. Regarding the U.S. dollar, Rogers said that it is a possibility that the dollar may lose its reserve currency status in the near future, adding that there is a need to prepare against such a scenario from now.

With respect to the bond market, Rogers has strongly recommended selling all the bonds owned, adding that "the bond market is not looking good." He emphasized a gloomy outlook on the bond market even by making a joke about switching careers and said, "If you are a bond manager, I would get another job." Such a comment aroused laughter from his audience.

One of the points that Rogers stressed the most in this special lecture was on investments in commodities. He said that commodities were in a bear market in 19080s and 90s but they are forecast to be in a bull market in the future. Such a trend is projected to be seen with supplies going up while demands going down.

Rogers concluded his lecture with a statement stressing that "the best place is to be is in commodities," and also emphasized that agriculture is going to be one of the fields that is going to rise for the next 20 years.

In response to one of the questions from the audience, the famed investor highlighted that South Korea can be a much more powerful country upon the unification of two Koreas, adding that "there will be a merger in a foreseeable future."

[written and edited by Jae-yoon Jung]

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