Monday, June 15, 2015

China producing high quality products

In the 21st century, buying goods made in China will be almost unavoidable, as the country has become the major manufacturing force in the world.

Even 20 years ago, I had a refrigerator produced by Chinese home appliance maker Haier Group. I have never bought a Chinese car but I suspect eventually everybody will have Chinese cars. During my second trip around the world in 1999, I was driving across China and we had Changyu wine (Chinese wine). I was surprised by how good it was.

Some people have the impression that products made in China are cheap but of poor quality. In the 1950's, that was what people said about products made in Japan. Then people changed their mind about products made in Japan and realized they were of very high quality.

It's good that China has realized that the only way to nurture the market is to make high-quality goods. 

Jim Rogers is a smart investor who co-founded the Quantum Fund with George Soros in 1973. By 1983 the fund gained more than 4000 percent.