NEW YORK (Commodity Online): China permabull Rogers still believes in Chinese economic strength and opines that the US will lose its reserve currency status to China. So what about the property bubble?
“China's property market has a price bubble, but not a credit bubble the US had”, he makes a clear distinction.
"The Renminbi (Chinese currency) will go massively higher over the next few decades”, Rogers said in the ChinaMoneyPodcast and argues that the Chinese should let their currency appreciate faster.
“Once the Chinese currency is freely convertible and freely traded, you are going to have a lot of people leaving the U.S. dollar and going into the RMB. Then the U.S. is going to lose its status as the world's reserve currency."
And with the US economic crisis set to worsen in 2012, Jim Rogers believes shorting shares is the way to make money.
"I mainly short shares around the world. I have shorted American technology companies, I have shorted European stocks and shorted emerging market stocks”, he said.
