Annual roadmap question
Zeev, thank you for the time you put into your annual roadmap. One thing I didn't notice was any mention of China, where there is sure to be further rumblings about floating the currency, but also where there is still the spectre of the hangover from the mega-growth of recent years. Some believe that hangover will be mild or barely noticeable. But others think we are still on course for a much rougher "morning after".
Jim Rogers has made a "hard landing" call. In this week's Forbes magazine he says he expects the Chinese economy "is due for a hard landing within the next 12 months."
In warning of the hard landing he says:
"It will definitely happen, and when it does, I hope I'm brave enough, smart enough, and alert enough to pick up the phone and buy a lot more China."
I don't know what you think of Jim Rogers, but when he uses the words "It definitely will happen ..." I find it very hard to be betting the opposite. And if he is right, and China has a hard landing, then it seems impossible to believe there won't be shock waves reaching our shores (although that would probably result in falling commodities prices, particularly oil).
