Monday May 21, 2018
Home Lead Story Warren Buffet...

Warren Buffett Says That The World Depends on US and China For Progress

"The US and China are going to be the two superpowers of the world, economically and in other ways, for a long, long, long time," Buffett said.

0
//
13
It is a better idea than spending that money on other companies which have the disadvantage of not being Apple, he added.
Warren Buffett, US billionaire and investor, wikimedia commons
Republish
Reprint

US billionaire investor Warren Buffett said on Saturday that the world depends on the US and China for progress, dismissing concerns that the two countries’ trade tensions could potentially escalate into a trade war.

Buffett, chairman and CEO of Berkshire Hathaway, made the remarks in response to a Chinese investor’s question about US-China trade relations at the Berkshire Hathaway’s annual shareholders meeting, Xinhua reported.

“The US and China are going to be the two superpowers of the world, economically and in other ways, for a long, long, long time,” Buffett said.

US billionaire investor Warren Buffett said on Saturday that the world depends on the US and China for progress, dismissing concerns that the two countries' trade tensions could potentially escalate into a trade war.
US-China Meeting, wikimedia commons

“We have a lot of common interests, and like any two big economic entities, there are times when there’ll be tensions, but it is a win-win situation when the world trades,” the investor said.

Both Democrats and Republicans in the US believe in the benefits of free trade, he said.

The benefits of free trade are huge, and the world is dependent on it in a major way for its progress, Buffett said.

Also Read: Trump Wants Everything in America as He Promotes ‘America First’

The investor also implied that he is willing to invest more in China this year.

He is turning 88 this August, and eight, he said, is a very lucky number in China. This could be the time to acquire something in China, Buffett said.

Berkshire Hathaway currently has a stake in China’s automobile manufacturer BYD. Buffett said the investment “has being doing so well lately”. (IANS)

 

Click here for reuse options!
Copyright 2018 NewsGram

Next Story

Fossils of 400-Year Old Invertebrate Marine Species Found in China

Scientists from the Chinese Academy of Sciences have recently found a fossilised body piece of an extinct class of marine animal known as Cystoidea or cystoids in southwest China's Guizhou Province.

0
//
9
400 mn year old marine Fossils found in China.
Fossils. Pixabay.

Scientists from the Chinese Academy of Sciences have recently found a fossilised body piece of an extinct class of marine animal known as Cystoidea or cystoids in southwest China’s GuizhouProvince.

The fossil, that dates back some 400 million years, was discovered in Tongzi County while the scientists were studying a geological section in the area, according to the county government, Xinhua news agencyreported.

With an egg-shaped body, cystoids are echinoderms, marine invertebrates that existed during the Pleozoic Era, the Ordovician and Silurian Periods, and became extinct during the Devonian Period.

Guizhou boasts a rich store of prehistoric treasures. Fossils of various extinct invertebrate marine species have been discovered in the area. Tens of thousand of vertebrate fossils have also been found there.

Next Story