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Jim Rogers on the No. 1 reason commodities will soar
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Friday, August 14, 2009
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By Daily Crux Editor Justin Brill:

Famed investor Jim Rogers says the Chinese are desperate to increase their holdings in oil and other industrial commodities like copper and nickel, and that they're buying up as much as they possibly can from around the world.

China is on pace to spend more than $40 billion this year on the purchase of foreign commodities, a dramatic increase of 48% over such purchases in 2008, as it attempts to reduce its staggering $2.1 trillion in currency reserves.

China bought a record volume of oil in July, according to figures released this week.

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Topics: Jim Rogers | China | Commodities
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