Famed investor and co-founder of the Quantum Fund, Jim Rogers said in Shanghai that he expects renminbi, China’s currency, to appreciate 300, 400 or even 500 percent in the next 20 to 30 years.
Jim Rogers was a partner of George Soros. Jim has a net worth of over $300 million. He wrote books predicting the boom in commodity prices since the 1990s and has been a China bull since at least 1984.
Compared to the yuan’s value in 2005 (when it was 8.3 to 1 US $), Rogers expects it to appreciate by as much as 500 percent in the future. This would be about 1.7 to 1 US$.
Rogers went as far as to suggest that the renminbi might become the new currency of reserve within our lifetimes.
Nextbigfuture had been expecting the yuan to appreciate to about 3.0 to 1 US$ over the next 8 years or so. This would be about a 250% move. It would be to about the level of purchasing power parity.
The Renminbi historical exchange rates
Year US$ (DEC alternative conversion factor) US$ (official exchange rate) 1981 2.52 1.7050 1985 2.94 2.9366 1990 5.23 4.7832 1994 8.6187 8.6187 2000 8.2784 8.278 2005 8.1943 8.1943 2013 6.12
The japanese yen moved from 360 yen to 1 US dollar in 1971 to 100 in about 2000 and as strong as 80 in 2010.
The USD also went from 4.3 swiss francs to the US dollar to about 0.7 swiss francs to the US dollar.
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Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. He is open to public speaking and advising engagements.