Brazil is sort of ignited a trade war by putting a 30 percent import tariff on China and Korea. And right now China is trying to get the Europeans to let them open up the trade with China more. The Europeans are saying no, so China is saying, 'No, we won’t bail you out.'
I hope the trade war doesn’t break out because throughout history when it does it has caused depressions. You saw what happened in the 1930s. It led to depression and it also led to war. So I hope it can be contained.
Related ETFs: iShares MSCI Brazil Index ETF (NYSE:EWZ), iShares MSCI South Korea Index Fund (ETF) (NYSE:EWY)
Jim Rogers is an author, financial commentator and successful international investor. He has been frequently featured in Time, The New York Times, Barron’s, Forbes, Fortune, The Wall Street Journal, The Financial Times and is a regular guest on Bloomberg and CNBC.
