Jim Rogers : Shanghai to take over New York as the First world Financial hub

Jim Rogers says when Shanghai does become fully open it will be a similar moment to when New York took over from London as the world's financial hub in the 1920s and 1930s. "The financial mistakes made by politicians in London such as pegging sterling to the wrong gold price led to the shift from the UK to the US," he says. He says the New York regulatory authorities are not helping Wall Street's international competitiveness. "At the moment America is coming up with all sort of controls and regulations that is making New York a repressive and expensive place to do business and a lot of the money wants to move somewhere else,"  says Jim Rogers Speaking from Oxford on a visit to Balliol College, where he attended university - via chinadaily


Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary 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%.