Jim Rogers

SynonymRogers(Americaninvestorandfinancialscientist)generallyreferstoJimRogers

henkilökohtainen suhde

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• HappyDaughter·Rogers

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Aikainen elämä

Rogers syntyi Baltimoressa, Marylandissa ja kasvoi Demopolisissa, Alabamassa.

Hahmon elämä

In1964,RogersgraduatedwithhonorsfromtheHistoryDepartmentofYaleUniversitywithabachelor'sdegree.HefoundhisfirstjobinDominicandDominiconWallStreet.

In1966,Rogersreceivedhissecondbachelor'sdegreeinphilosophy,politicsandeconomicsfromOxfordUniversityandbecameamemberofBalliolCollege.

Vuoden 1980 jälkeen Rogers aloitti oman sijoitusuransa.

In1984,whentheAustrianstockmarket,whichwasseldompaidattentiontoandunderstoodbytheoutsideworld,plummetedtohalfofwhatitwasin1961,RogerspersonallyvisitedAustriawheretheincidentoccurred.Aftercarefulinvestigationandresearch,Rogersdecidedthatanopportunityhadcome.HeboughtalotofstocksandbondsofAustriancompanies.Inthesecondyear,theAustrianstockmarketcamebacktolife.TheAustrianstockmarketindexroseby145%intheskyrocketingprice.Rogersmadeabigprofit,sohewascalledthefatheroftheAustrianstockmarket.

In1987,theJapanesestockmarket,whichcontinuedtoriseforseveralyears,graduallysloweddown.RogersforesawthatthedeclineintheJapanesestockmarketwasabouttobegin.In1988,hebeganshortsellingJapanesestocksinlargequantities.Theresultafterwardswasjustasheexpected.EachoftheJapanesestockshesoldshortfelloneafteranother,andhemadeabigprofitbecauseofthis.

Vuoden 1987 ensimmäisellä puoliskolla hän näki, ettäYhdysvaltain osakemarkkinat olivat lähes jyrkästi, eli lyhyitä osakkeita koko ajan.19. lokakuuta 1987 Yhdysvaltain osakemarkkinat romahtivat ja lyhytmyyntitoiminta oli jälleen onnistunut.

OnFebruary12,2019,accordingtoYonhapNewsAgency,JimRogerswasinvitedbyKimJongUntovisitNorthKoreainMarch;inApril,hereceivedanhonorarydoctoratefromPusan​​NationalUniversityinrecognitionofhiswork,ThebookshowshispositivemessageaboutthereunificationofNorthKoreaandabrightfuture.

Matkustaa ympäri maailmaa

In1980,RogersleftSoros’QuantumFundwith20%ofthecompany’scapitalprofit-14millionU.S.dollars,startinghisdazzlingfascination.Independentinvestorcareer.FromPortugal,Austria,Germany,toSingaporeandBrazil,Rogers’investmentstyleof“bettingonthecountry”isvividlymanifested.Inordertosecureawinningticketininternationalinvestmentactivities,JimRogerslikestotravelaroundtheworld,visitallpartsoftheworld,experiencenewthings,andmeetnewpeople.Heregardstheseasthemostdirectwaytounderstandthedynamicsofthesecuritiesmarket.In1990,herodeaBMWmotorcyclearoundtheworld(excepttheArcticandAntarctic)withadistanceof104,700kilometers,breakingtheGuinnessWorldRecord.Thiswayofcombininginvestmentresearchwithtourismandentertainmenthasenrichedhispersonallifeandpreparedvaluablefirst-handinformationforhiscorrectinvestment,whichwaswrittenas"RogersGlobalInvestmentTravel".

1. tammikuuta 1999 hän alkoi matkustaa ympäri maailmaa Islannista ja kirjoitti "Playto EarntheEarth".

Klassinen sijoitus

RogersAtlas (8 kuvaa)

In1973,duringtheEgypt-Israelwar,whentheEgyptianandSyrianforceswereinlargenumbersDuringtheoffensive,Israelsufferedthousandsofcasualtiesandsufferedheavylossesintanksandaircraft.Israelwasshockedtofindthatalthoughithadbetteraircraftandpilots,theEgyptianAirForceclearlyhadanunusualadvantage.RogersdiscoveredthatthereasonwasthattheformerSovietUnionsuppliedelectronicequipmenttoEgypt,buttheUnitedStatescouldnotsupplyIsraelatthattime.BecausetheUSdefenseworkduringtheVietnamWarfocusedondailysupplies,itneglectedlong-termtechnologicaldevelopment.OncetheUSDepartmentofDefenserealizesthis,large-scaleinvestmentwillbeinevitable.

In1974,theprofitofRockerAirlines,whichproducesaircraftandmilitaryequipmentintheUnitedStates,fellsharply,andtherewererumorsthatitwasabouttogobankrupt.Duringthisperiod,thestockpricefelltothebankruptprice:$2.ThecalmRogerssawfromtheinternationalcompetitionthatthemilitarytechnologycompetitionbetweentheUnitedStatesandtheSovietUnionisboundtointensify,andtheU.S.governmentwilldefinitelyfocusitsgreatattentiononproducingthebestequipmentfornationaldefense.Therefore,ROCwillreceivestrongpolicysupportfromtheUSgovernment.Basedonthisforesight,heboughtalargenumberofROCstocks.Soonafter,theROCstockssuddenlybrokeoutofsilence,andthestockpricerosefrom2USdollarsto120USdollars.TherewasalsoE-Systems.E-Systemswasstillunknownatthetime,butafterconsultingwithLockheed,Rogers,coupledwithreadingperiodicalsandconsultingmilitaryexperts,knewthatthiscompanywastheirmaincompetitor,soheboughtalot.Thefundrosefrom0.5USdollarsto45USdollars,andthefundwasveryprofitable.Inthisinvestment,Rogers'emphasisonindependentthinkingisfullyrevealed.Heneverconsultedso-calledstockmarketanalysts,believingthattheywouldonlytalkonpaper,eitherblindlyarrogantorunreasonablyworried.Thestockmarketanalystsareabitlikefortunetellers.Ifthefactsarelikewhattheyareanalyzing,wouldn'ttheyallalreadyhavealotofmoney?Therefore,Rogersbelievesthatthemostimportantthingforinvestorsistodeveloptheabilitytothinkindependently.ThisisalsothebiggestreasonforthesuccessofhimandSoros.

Rogers’smostoutstandingfeatureisthatheisoftensurprisinglycalminthemarketwhenthemarketiscraziest.Hewaitsuntilthemarketstartstoruninagapingmanner,andhebecomesadecisiveShortsellers.Inafewdays,peoplewillbeabletoseethatthosecrazyinvestorshavebecomepanicpeople.Ashesaid:"Ifthemarketcontinuestomoveinthedirectionitshouldn't,especiallyifitreachesacrazyclimax,thenyouknowthatthemarketwillprovideyouwithanopportunitytomakebigmoney."InOctober1987,areporterinterviewedJamesWhenRogers,heforesawthattheU.S.stockmarketwasabouttoplummet,sohesoldthestocksshortattherighttime.OnOctober19,1987,theU.S.stockmarketcrashedandhisshort-sellingoperationwassuccessfulagain.

Kirjojen julkaiseminen

Sijoitussäännöt

1. Ahkeruus

"En usko, että olen älykäs, mutta työskentelen erittäin, erittäin, erittäin kovasti. Jos voit työskennellä erittäin kovasti ja rakastaa työtäsi, sinulla on mahdollisuus menestyä."Soros vahvisti tämän. Toimittajan haastattelussa Sorossaid,"Rogers on erinomainen analyytikko, ja hän on aina kovaa työtä."

2. Itsenäinen ajattelu

"Ialwaysfinditusefultoimmersemyselfinstudying.IfindthatifIonlyactaccordingtowhatIunderstand,itiseasyandprofitable,insteadofaskingotherstotellmewhattodoDoit."RogersnevervaluedWallStreetsecuritiesanalysts.Hebelievesthatthesepeoplefollowthetrend,butinfactnoonecanmakeafortunebyfollowingthetrend."Icanguaranteethatthemarketisalwayswrong.Youmustthinkindependentlyandputasidetheherdmentality."

3. Älä mene bisneskouluun

"Studyhistoryandphilosophy.Doinganythingisbetterthangoingtobusinessschool;beingawaiterandtravelingtotheFarEast."RogersalwaystoldallthestudentswhenhewasteachingatColumbiaSchoolofEconomics,Youshouldn’tcometotheSchoolofEconomics.It’sawasteoftime,becauseyou’llspendabout$100,000duringyourstudiesafteryoucounttheopportunitycost.Insteadofgoingtoschool,thismoneyshouldbeusedtoinvestinbusiness,althoughitmaymakemoneyorlosemoney.,Butnomatterhowyoumakeorlosemoney,youcanlearnmorethansittinginaclassroomfortwoorthreeyearsandlisteningtothose"seniorprofessors"whohaveneverdonebusinesstalkingaboutit.

4. Älä koskaan menetä rahaa.

"Don’tdoanythingunlessyoureallyunderstandwhatyou’redoing.Ifyoumake50%ofyourprofitsfrominvestmentintwoyears,youlose50%inthethirdyear.%,then,youmightaswellinvestyourmoneyinthetreasurybondmarket.Youshouldwaitpatientlyforagoodtime,makemoneyandtakeaprofit,andthenwaitforthenextopportunity.Onlyinthiswaycanyoubeatothers.""So,myadviceisNeverlosemoney,dowhatyouarefamiliarwith,andwaituntilyoufindagreatopportunitytoinvest."

5. Arvosijoitussäännöt

Jos ostat, koska tuotteella on suuri arvo, vaikka ostotapahtuma on väärä, et joudu kärsimään suurta tappiota."Normaaliaika on parasta olla hiljaa kaupankäynnistä huolimatta, sen parempi, ja aina kärsivällisesti odottaa investointimahdollisuuksien saamiseksi."

6.Odotetaankatalyyttisten tekijöiden ilmaantumista

Markettrendsoftenshowlong-termsluggishness.Inordertoavoidmakingfundsfallintoastagnantmarket,youshouldwaitforthecatalyststhatcanchangethemarket'strendtoappear.

7. Hiljaisen hyveen laki

"Oneofthelawsofinvestmentistoleaveyourhandsalone,unlesssomethingmajorhappens.Mostinvestorsalwaysliketogoinandout,lookingforsomethingtodo.Theymightsay,'LookSeehowcleverIam,andImadeanotherthreetimes.'Thentheywenttodootherthings,theyjustcouldn'tsitdownandwaitforthenaturaldevelopmentofthegeneraltrend."Rogerswasverydisapprovingofthe"tryyourluck"statement."Thisisactuallyadeadendthatledtoinvestorbankruptcy.Somepeoplewhohavesufferedlossesinthestockmarketwillsay:'Ihavelostasum,Imusttrytomakeitback.'Themoreyouencounterthissituation,themoreyoushouldcalmdown.,Waituntiltherearenewconditionsinthemarketbeforetakingaction."

Sijoitusnäkymät

Opi sijoittamaan

Kuinka sijoittaa Kiinaan:

IninvestinginChina,Iwilldefinitelyfollowthegovernment.TheChinesegovernmentissmarterthanmeandricherthanme.Iputthemoneywherevertheyputtheirmoneyandwhichindustrytheyarewillingtospenditin.

Mitä tulee ottaa huomioon ennen sijoittamista:

Isawthatathingischeap,Ithought,thisthingischeaphere,canitbeplacedelsewhere?Aretherealternatives?CanIgetprofitsbybuyinglowandsellinghigh?Willactimmediatelyafterdrawingaconclusion.

Puhutaan sijoittamisesta

Olen optimistinen rautateiden, maatalouden, sairaanhoidon, rahoituksen suhteen

"InChina,theimpactofpoliciesonthemarketeconomyisnotsmallLook.Ofcourse,ifthegovernmentsofEuropeanandAmericancountrieswanttointerferewiththeeconomy,theycandoit.Therefore,wheninvestinginChina,Iwilldefinitelyfollowthegovernment.TheChinesegovernmentissmarterthanmeandricherthanme.Theyputmoneyintoit.Wheretheyarewillingtospendmoneyinwhichindustry,Iwillputthemoneywhere."Rogerstoldreporters.

Rogerstoldreporters:"En valinnut kahta mahdollisuuttaKiinan uudistukseen ja avaamiseen1978 ja 1992. Nyt Kiina uudistaa perusteellisesti uusiin mahdollisuuksiin. Tällä kertaa huomasin useilla aloilla:rautatiet,maatalous,sinävoipahoittaa.

RogerstalkedtoreportersabouttherecentAnextremelynewtopicinthecapitalmarket-Shanghai-HongKongStockConnect.

“AlthoughtheShanghai-HongKongStockConnectwillnotbeimplementeduntil6monthslater,Ican’twaittoimplementitimmediately.Theimmeasurablepositiveeffects,includingthefullfreeconvertibilityoftherenminbi,andthegradualliberalizationofChina’svariouspolicies,willdefinitelyhaveabeneficialimpactontheChineseeconomy.”Rogerssaid.

Whentalkingabouthisinvestmentlogic,Rogersspreadhishandsoutandsaidleisurely:“Actually,whatIcanfindandobserveinChinacanbedonebyeveryChineseperson.It’sjustthatIobservedandthenpassedMythinking,Iactedimmediately.Forexample,ifIsawthatanitemischeap,Ithought,thisitemischeaphere,butcanitbeplacedelsewhere?Aretherealternatives?CanIgetbenefitsbybuyinglowandsellinghigh?IlovetothinkaboutwhatIobserve,andactimmediatelyafterIdrawaconclusion."

Millä muut eivät halua tehdä, menevät minne muut eivät halua mennä, tämä on Rogersin sijoituslogiikkaero.

RecommendationsforChineseInvestingintheU.S.StockMarket

"FormoreandmoreChineseenteringtheU.S.stockmarket,Rogersrecommendsinvestingintheabilitycircle."Mostpeoplefailininvestingbecausetheydon'tknowwhattheyaredoing.Theyalwaysrelyongossipandsuggestionsfromothers.Thisisnottherightway.Ifyouknowacompanywell,youcaninvestafterinvestigation,otherwiseitisbestnottoact."

Sijoittaminen kiinalaisiin yrityksiin

InDecember2017,JimRogersrevealedinaninterviewthathewasnotoftenknownabouthisknowledgeoftheChineseeducationindustry.Hisattentionandinterest.Hesaid,“IamwatchinginvestmentopportunitiesintheChineseeducationmarket,andIamwatchingeverytrack.Withtheopeningofthesecond-childpolicy,moreandmorepeopleinChinawillhaveeducationalneeds."Infact,Rogers’investmentinChina’seducationsectorhasalreadybegun.In2016,heinvestedinaChineseeducationcompanycalledGoodTalk.ThisisthefirsttimethathehasbecomeanaturalpersonshareholderofaChinesecompany,aswellashisownpersonalInvestinginanunlistedcompanyforthefirsttimeininvestmenthistory.

Puhutaan taloudesta

Volatiliteetti on väistämätöntä, ja näkymät ovat edelleen hyvät

"21stCenturyItbelongstoChina."Rogersreiteratedthispointtoreportersagainyesterday.

RogersbelievesthattheinfluenceoftheChineseeconomyintheworldwillbecomeveryimportant.Thisisundoubtedly,butthisdoesnotmeanthatitwillnothappen.Somegrowthordeclinecyclesarerepeated.Therefore,itisnormalfortheChineseeconomytoexperienceupsanddowns,anditdoesnotaffectthelong-termimprovementoftheChineseeconomy.

WhileRogersisoptimisticaboutChina’seconomicprospects,healsomentionedthecurrentChineseeconomy.Thereareseveralproblems."Thefirstismonetarypolicy,includingthefactthattherenminbiisnotyetfullyconvertible,whichwillhindereconomicdevelopment;thesecondisthatenergysubstitutionneedstobefurtherdeveloped.Manyenergysourceshavenotyetfoundsuitablesubstitutes.Therearenotenoughreserves,evenifthereareenoughreserves,theyareconstantlymining.Ifnoalternativerenewableenergyisfoundinthefuture,thiswillgreatlyhinderthedevelopmentofChina’seconomy.Thethirdiswaterpollution,althoughtheChinesegovernmentAlotoffinancialresourceshavebeenpaidforthis,buttheproblemhasnotbeensolvedyet.Ifitwereme,Imightspendmoremoneyonthis."

Puhutaan kullan hinnasta

Jos kullan hinta putoaa, en osta sitä

Asamasterofcommodityfutures,howdoesRogersviewinternationalgoldprices?Trend?

Hementionedthathewillnotbuygoldnow,butwillbuyagainatadifferenttimepoint,thatis,whenthepriceofgoldfallssharply."Becausethegoldinmyhandcanbeusedasahedge,Therefore,itwillnotbuyanymore.Ifthepriceofgoldcontinuestofall,itwillbuywhenitreachesacertainbottomline."

Asforthespecifictimepoint,hesaidthatitisstillunclear.Thecurrentgoldpriceisrelativelylow,butitmayrebound.

PublicinformationshowsthatRogerslikesgoldverymuch.,Hemainlyfancythevaluepreservationeffectofphysicalgold.Whenthereporteraskedhisopiniononthepriceofgold,hetookoutthegoldcoinsfromhispocketandshowedittothereporter.

TalkaboutChengduh3>

Muutokset ovat mahdottomia kuvitella

"In1984,IcametoChengduforthefirsttime.ComparedwiththecurrentChengdu,itisnotwhatitusedtobe.Rogersrecalledthat30yearsago,Chengdudidnothavedecentrestaurantsandhotels.Nowthisplaceisnolongerwhatitwas30yearsago.Chengduhaschangedalot.Theairporthasbecomebetter,theroadshavebecomebetter,andbuildingshaverisen.Therearealsomanybuildingsunderconstruction."IfyouhavetochooseaplacetosettleinChina,thisplaceisChengdu,butafterhousingpricesfall."

Osakkeista puhuminen

JimRogersexpressedasurprisingviewinShanghai.Hebelievesthatinthenext20to30years,therenminbimayappreciateby500%(Basedon2005),andsaidthathehasneversoldChinesestocksandwillleavethesestockstohischildren.

IstillhaveconfidenceintheChinesestockmarket,asofJuly8,2015.SellinganyChinesestocks,onthecontrary,startingfromthe8th,heboughtChinesestocksontheShanghaiStockExchange.

HebelievesthattheShanghaistockindexhasfallenbymorethan32%inthepastthreeweeks,andwhenthemarketcanbottomout,Thebullmarketisbasedonovercomingthewalloffear.Ittakeseveryonetobealittlebitafraidtomakethestockmarketrisehigherandhigher.Butifeveryoneisconfidentandbelievesthattherewillbenoproblems,thenthereisarealproblem.Butnowwhenthemarkethitsthebottom,thestockmarketcanriseinamorerationalandgentleway,andthisrisewillbemorelasting.

Puhu kiinalaisen osakesijoituksen salaisuuksista

RogersbackthenHebecamefamousforhissuccessfuldipsintheAustrianstockmarket,andlaterbetonSingapore,Brazilandothermulti-nationalmarkets.Itsdistinctiveinvestmentstyleof"bettingonthecountry"becameuniqueonWallStreet.

September2015,RogersInvitedbyTheChinaSpeakerBureautoattendthe"InvestLikeRogers"CentralSummitValueForum.

Hesaidatthe"InvestLikeRogers"CentralSummitValueForumthathehadInthepastfewyears,hepaidcloseattentiontothecorrespondingmeasurestakenbyvariousgovernmentsinthemarket.Basedonhislong-terminvestmentexperience,thegovernmenthadbetternotinterveneinthemarkettoomuch.Asaresultofthestimulusmeasures,themarkethasproducedalotofartificialbubbles,causingfurthermarketinstability.Somyviewisthatthegovernmentshouldnotinterferetoomuchinthemarketandletthemarketdecideitsownfuture."

RogersbelievesthattheChinesestockmarkethasnotyetseenaclearbubble.Therefore,thestocksheboughtinChinacanevenbeheldfordecades.Rogerssaidwithasmile,"MyChinesestocksarenotgoingtoSelling,Iplantoleaveittomytwodaughters,itwillbeagreatfortune."

RogerssaidbluntlythatinChina,investmentshouldfollowthedirectionofthegovernment.Ifthegovernmentiswillingtomakekeyinvestmentsincertainareas,itmeansthatinvestingintheseareascanhelpinvestorsachieveultimatesuccess.RogersspecificallymentionedBytheThirdPlenarySessionofthe18thCentralCommitteeoftheCommunistPartyofChinainNovember2013,afterthat,heobtainedalistofkeygovernmentinvestmentfields,includingagriculture,railways,medicalcare,andfinancialservices.HecitedsomeofhisinthelistTakeinvestmentinthefieldsofmedicineandenvironmentalprotectionasanexample.HebelievesthattheChinesegovernmentneedsmoremedicalsystemsandservices,andiscommittedtoimprovingthecurrentmedicalsituation,soheboughtalargenumberofmedicalstocks.ThepollutionproblemisthattheChinesegovernmentiscurrentlyfacingHesuggestedthatinvestorspayattentiontorelatedcompaniesanddevelopmentsinthisfield.OnJanuary22,2016,TheChinaSpeakerBureau(TheChinaSpeakerBureau))InvitedJimRogerstoattendthe2016ChinaInternetCity"InternationalInnovationSummit"todiscusshowtousenetworkpowertoexplorethedevelopmentpathofsmartcitiesinthecontextofthe"Internet+"era.

Osa Kiinan näkemyksistä ja toiminnoista

InsightsonChina

InaninterviewinSingaporein2016,heexpectedChinatoacceleratetheongoingreformsinthefinancialsystem,investmentandconsumptionandotherfields.“Chinaisthepast30years.Inrecentyears,themostsuccessfulcountryintheworld,Chinahastheabilitytoleadtheworldtomeetnewthings.”WhentalkingaboutthecurrentdevelopmentstatusandprospectsofRMBinternationalization,RogerssaidthatChinahasperformedverywellinpromotingtheprocessofRMBinternationalization.IhopethatthepaceofRMBinternationalizationwillnotslowdown.Inhisview,theRMBhasbecomethestrongestcurrencyintheworldsince2005.However,after11yearsofdevelopment,theRMBalsoneedsacertainperiodofadjustmentandstability.Thisisthepastfewyears.Thelawsofoperationoftheworldandvariousmarketsoverthepastcentury.Whentalkingaboutthe"OneBeltOneRoad"initiative,Rogersbelievesthatthisinitiative,likenavigation,exploration,railwayconstruction,telegraph,telephone,etc.,haschangedthegeographicalpatternoftheentireworld.ThisgratifyingchangewillcausedrasticchangesinmanypartsofAsiaandEurope,especiallysomeunderdevelopedcountriesinSoutheastAsia,whichmayriseup."

Kiinan talouden ja kiinan ymmärtäminen

Inaninterview,RogerssaidthatwhentalkingaboutChina’svariousdevelopments,Chinaistheworld’ssecondlargesteconomyandwilleventuallybecomeThelargesteconomy.WiththecontinuousenhancementofChina’ssoftpower,theinfluenceoftheChineselanguageisalsoincreasingdaybyday.Chinaisthemostimportantcountryinthe21stcentury.Underthe“BeltandRoad”policy,nomatterhowtheworldsituationchanges,China’seconomywillmakeabigdifference.Allrelatedindustries,especiallyculturaleducation,willbenefitfromthedevelopmentofChinaDevelopmentplaysavitalrole.RogershasinvestedinaseriesofculturalandeducationalprojectsincludingtheYouthBilingualSpeechContest.Hebelievesthatthebilingualspeechcontesthasbuiltagoodcommunicationplatformforyoungpeople,whichwillbeusefulforcultivatingthelanguagediplomacyabilityoftheyouthoftheworldinthefutureandpromotingChinaCommunicationandcontactwiththeworldplayanimportantrole.Throughinvestment,helpingyoungpeopleunderstanddifferentlanguages,theworldandpeers,andcommunicatingwitheachotherisveryimportantfortheworldandindividuals.

Suurin investointiKiinassakuudessa arvoteollisuudessa

Atthe2015China(Fujian)InternetFinanceConferenceandXinhuaNetThinker,Rogersgaveakeynotespeechentitled"OntheRoadofChina’sFinancialMarket".HebelievesthattherearesixindustrieswiththemostThereisinvestmentvalue:

"Firstofall,agriculture.Inthepast35years,Chinesecitieshaveperformedverywell,buttheruralpopulationhasnotenjoyedmoredevelopmentresults.SoIthinktherearegreatopportunitiesinagricultureinthefuture,andmyinvestmentinagricultureisalsocontinuing.Thesecondisthetourismindustry.Inthepast,Chinesepeoplerarelytraveledabroad.NowitiseasierforChinesepeopletoobtainvisasandpassports.Therefore,tourismisanindustrywithgreatpotentialfordevelopmentinChina.Thethirdistheenvironmentalprotectionindustry.AveryimportantreasonwhywechosetoliveinSingaporewasbecauseoftheseriouspollutioninChina.ButIhaveseenthattheChinesegovernmentisverydeterminedincombatingpollution.Thefourthisthefinancialindustry.China’sfinancialmarketisstillrelativelyclosed.ShanghaiusedtobethemostimportantinternationalfinancialcenteroutsideofLondonandNewYork.Ifthefinancialmarketisfullyopenedup,ShanghaiwillevenhaveachancetoleaveLondonbehind.Becomeoneofthemostimportantfinancialmarkets.Finally,thepharmaceuticalindustryandrailways.TheChinesegovernmentwillinvestalotofenergyandworkinthesetwofieldstodevelopthesetwoindustries".