Stock god Buffett: Chinas economy is a miracle in 2032 or beyond the United States.

category:Global
 Stock god Buffett: Chinas economy is a miracle in 2032 or beyond the United States.


Sino-US Investor Forum It is reported that the video was broadcast on the 4 Sino US investor forum held in Omaha, Nebraska. Buffett said: what they (China) has done in the past 50 or 60 years is a complete economic miracle. I never thought it would happen. What I know is that they have found a secret for themselves, just like the secret we discovered centuries ago. Referring to the political and economic differences between China and the United States, Buffett said: countries will do things in different ways. Chinas economic model emphasizes economic growth and social stability, the report said. Since the reform and opening up in 1978, Chinas GDP has grown at an annual rate of 9.5%, making it the second largest economy in the world. In the past five years, Chinas GDP growth has slowed down, but it still increased by 6.9% last year, while the 2.3% growth in the US was dwarfed. Buffett believes that the story of Chinas economic growth is far from over. According to the London based Center for economic and business research, by 2032, China is likely to overtake the United States as the worlds largest economy. Buffett believes that China will probably take longer to achieve this goal. But he acknowledges the potential of China, which is almost four times the size of the United States. The main thing China must do is to release the potential of the people. He said that the Chinese people are smart and diligent, and are doomed to have a beautiful economic future. The only company that Buffett has invested in China through its holdings of Boxill Hasavi (BerkshireHathaway) is BYD, a battery and auto maker in Shenzhen, the report said. In 2008, the investment of US $232 million (about 1 billion 418 million yuan) has now been valued at about US $2 billion 100 million (about 13 billion 350 million yuan). Buffett said he was interested in expanding investment in big markets, including China: when you have about 100000000000 dollars, you will look at any big market. We cant enter small markets and invest a lot of money. We want to invest wisely, and it is clear that big economies and growing economies have potential. Despite the recent Sino US trade frictions, Buffett said Chinas growing economic strength is not a bad thing. He gave the hypothesis of a future world: if you assume that there are two worlds in the 50 years from now, one of them is that the United States is still doing much better than many countries in the world, or you assume that every country is making great progress. I think you have to choose second worlds. We should welcome a more prosperous world, including China. May 4th, Buffetts annual meeting at Berkshire Hathaway company. Source: observer net responsibility editor: Zhu Xiaodong _NBJS6126