By Lee Jon-young

 

Upon arriving in Seoul on Dec. 10, Rogers Holdings Chairman Jim Rogers, one of the world's most famous three investors, said, “South Korea trades with the U.S., China and Japan. And most of those countries are going to be having problems in the next two or three years and Korea cannot escape. South Korea will follow the problems of the rest of the world.”

 

 

Chairman Jim Rogers came to Korea at the invitation of the Central Committee of the Bukkwan Victory Monument National Movement, a juridical foundation, to consult on the production of a drama about General Jeong Mun-bu, who defeated the invading Japanese army during the Imjin War in 1592.

 

In an exclusive interview with Diplomacy Journal, Chairman Jim Rogers said, “Chinese economy is now hitting bottom and turning around. It will do better in the next two or three years or less bad in the next two or three years.”

He added, “But if the world has a problem, China is also going to have a problem and suffer as the rest of the world suffers.”

 

 

The following is the full-text of the Diplomacy Journal’s interview with Chairman Jim Rogers.

 

Question: What is the main purpose of your visit to South Korea this time?

Answer: Well, there was a great battle 500 years ago where the Koreans defeated the Japanese army and sent them home. That led to a monument in Japan. And there are very good stories because a Korean gentleman persuaded the Japanese to give the monument back. So, it's now in North Korea. I mean, they're very good stories.

So I have come here. They'll do a little bit with the movie. They're making a movie about the battle and about the monument. It is a good story. I like Korea. So here I am.

 

 

Q: How do you see the global economy in 2024? Will there be a global recession?

 

A: Well, the world economy led by the United States has been strong since 2000. That's the longest period in the American history. And I mean, maybe it's going to go on forever but it never has.

I see signs developing that problems are starting to come. Inflation is coming back, higher interest rates, many new people in the markets, many classic signs.

So I would be worried about the world economy, and the American economy in 2024 and thereafter. You should be worried.

 

Q: What do you think about the economic situation in South Korea next year?

 

A: Well, South Korea is one of the world's great trading nations. Korea trades with America, China, Japan and most of those countries are going to be having problems in the next two or three years and Korea cannot escape.

You're not an isolated country anymore. So Korea will follow the problems of the rest of the world.

 

Q: Do you have any ideas to improve relations between South Korea and North Korea? 

A: If a Martian landed and said what the two different countries have same chopsticks, same language, same everything. So if I were doing it, I would sit down and say, look, let's open this border.

It would mean the Americans have to go home because the American army will not leave. But if I were the Koreans, I would say, okay, the Americans will go home and we'll open the border, we'll have interchange, travel, trade, commerce between the north and the south.

And I assure you Koreans have been here for a few 1000 years. The problem will solve itself.

 

Q: South Korea has close economic ties with China, what do you think about the economic situation in China next year?

 

A: China has had a problem because a real estate bubble has popped. They also had a serious problem with the virus. So China went into a serious economic slump.

It is now hitting bottom and turning around and it will do better in the next two or three years or less bad in the next two or three years.

But if the world has a problem, China is going to have and suffer as the rest of the world suffers too.

But China will not be as bad as some other countries because they've already had a problem so they will be getting less bad.

 

Q: Would you deliver a New Year message to Diplomacy Journal readers?

 

A: I hope that the Korean Peninsula will continue to open up more commerce, more trade, more everything between all Koreans and eventually will lead to an opening of the 38th parallel, the opening of the DMZ, and we'll all have a very big party.

And once that happens, the Korean Peninsula is going to be the single most exciting place in the world because you have educated labor, cheap labor, educated people, money, management, and people right on the Chinese border.

Once you open the 38th parallel, I didn't say unification I just said opening the border, let people come and go. Korea will take care of itself. Korea has been here hundreds of years.