John Bogle: China will catch up and pass the U.S.

credit: Finance Jane

John Clifton “Jack” Bogle (May 8, 1929 – January 16, 2019) was an American investor, business magnate, and philanthropist. He was the founder and chief executive of The Vanguard Group, and is credited with creating the first index fund.

An avid investor and money manager himself, he preached investment over speculation, long-term patience over short-term action, and reducing broker fees as much as possible.

The ideal investment vehicle for Bogle was a low-cost index fund held over a period of a lifetime with dividends reinvested and purchased with dollar cost averaging.

In this video, he talked about his opinion of China. He said China has very strong population growth and economic growth, and gradually it will catch up and pass the U.S. This is not really a question to ask.

He also said that China has its own economical issues, e.g., too many houses are built based on debts, and people don’t move into these houses. This has happened in the U.S. before.

In Bogle’s view, China will change the world order in the near future.

Source: Finance Jane