Q: You are bullish about China’s future. Why is that? Do you see any setbacks in the next 10 years?
A: … The only thing I worry about is water.
China has one of the worst water problems in the world. Unless you solve your water problem, there’s no China story. I’ve been around the world a couple of times, I’ve seen whole cities, societies and countries disappear because of water problems.
The amount, quality and supply of water could lead to the end of China’s story if the problem is not solved in time.
Q: What do you think of the yuan and China’s currency policy?
A: I think it’s better for China to open its currency market as soon as possible. This is not 1981; this is 2011. China is a strong and independent country now, and they don’t have to worry about the currency. It would be good for China and the 1.3 billion Chinese. Everything China imports will go down in price. You have to have a convertible currency to have a strong international economy. China is doing it but I think they could do it faster ….
Q: Apart from gold and silver, what else do you think is worth investing in China?
A: All commodities and the Chinese yuan. If China collapses and the stock market has a big drop, I hope I’m smart enough to buy more Chinese shares. My approach to China is that my children are going to own my Chinese shares some day. I don’t do this in any other country. Only China. I hope one day my grandchildren are gonna say that the old man was really smart … wherever he is, thank you.