Saturday, March 13, 2010

China To Build Own Jumbo Jet

China plans to build its own jumbo jet. The C919 is expected to test fly in 2014.

Steve Forbes Do not Force Chinese Currency Change

Steve Forbes the editor in chief of Forbes Magazine says the US should stop pressuring China to appreciate its currency ( The Yuan ),"well I always believed that it was a mistake for the United States government to put pressure on China to revalue its currency , I think it is fine to have a stable value between the two currencies , makes life a lot easier " Forbes says that artificially changing the price of things does not work in the long term and in the short term it is disruptive ..."we tarted in the 1970s to put pressure on Japan to change the value of the Yen , the dollar today has fallen 75 percent against the yen , and we still have a trade deficit " says Steve Forbes
The US should seek cooperation with China instead
Steve Forbes says stop pressuring China to revalue its currency.

Jim Rogers on India vs China

Jim Roger

What would take India to perform like China ?

Forbes India : "Some specific global lessons or examples that India can adopt from other countries such as China?"
Jim Rogers :"Open your borders to foreign capital and brains. For example, foreigners cannot enter retailing in India, but Wal-Mart etc. are all over China. Your politicians close down free commodity markets every time prices rise as if the markets were making the prices rise!

Farmers can own only very, very small farms so India cannot compete on the world stage, yet India should be one of the great agriculture nations of the world. "

Forbes India : "What will it take to get you to invest in India? "
Jim Rogers : "Some sense of 21st Century reality. Open the economy such as retailing, energy, agriculture, etc. Make the currency fully convertible. "

Read Full Interview

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Who is Jim Rogers ?

James "Jim" Rogers was born in Oct. 19, 1942 and grew up in Demopolis, Alabama .Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendry investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%. They ran what is considered to be one of the first truly global macro hedge funds. . In 1964 he got his first job on Wall Street at Dominick & Dominick in the summer between high school and Yale University, that's how he got his first experience with stocks and bonds. He immediately fell in love with the job. After Oxford, he returned to the U.S. and joined the army in 1970 he returned to Wall Street, working again with Dominick & Dominick. That same year he joined Arnold S. Bleichroeder, where he met George Soros, and together founded the Quantum Fund. This has opened a new era of global macrotrading and inspired numerous imitations and spin-offs. In the book "Money Masters of Our Time," Jim Rogers writes about that time "the most important thing in my life was work. I did not do anything until I had completed my work." To emphasize this professional ethic , it is good to remember that he did not made any holiday for ten years. In 1980, Jim Rogers has decided to "retire" at 37 years. Since then he has spent much of his time traveling and supporting the causes of philanthropic and taking on many high profile roles in the media. However, he continues to be an active investor and media commentator

Mr. Jim Rogers is Independent Director at Xylem, Inc., a Member-American Section at Société de Chimie Industrielle, a Member-Executive Committee at Sequoyah Corp., a Member at The Business Roundtable, and a Member-Executive Committee Sequoyah Council at Boy Scouts of America.

He is on the Board of Directors at Xylem, Inc. and LORD Corp.

Mr. Rogers was previously employed as a Member by American Chemistry Council, Inc., President by United Way of Greater Kingsport, Executive Chairman by Eastman Chemical Co., Chairman & Chief Executive Officer by Eastman Ventures, Chief Financial Officer & Executive Vice President by Building Materials Corp. of America, Chief Financial Officer & Executive Vice President by GAF Corp., Executive Vice President-Finance by International Specialty Products, Inc., Treasurer by Amphenol Corp., Vice President-Finance by Morgan Guaranty Trust Company of New York, and Naval Aviator by United States Navy.

He also served on the board at Genencor International, Inc.

He received his undergraduate degree from the University of Virginia and an MBA from The Wharton School of the University of Pennsylvania.