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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.

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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

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)

 

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Small Shops in US Often Sell Tobacco Without Checking Age

More than 64 per cent of grocery stores checked IDs, compared with about 34 per cent of convenience stores and tobacco shops, and 29 per cent bars, restaurants and alcohol stores

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FILE - An anti-tobacco warning is seen on a road divider on the outskirts of New Delhi, India, Nov. 4, 2016. VOA

Those buying tobacco from shops in the US, especially small stores, are usually not asked for identification hence it is easy for underage users to buy cigarettes there, says a study.

When researchers, aged 20 and 21, visited a variety of shops in the US, more than 60 per cent of cashiers did not ask them for identification.

In the study published in the American Journal of Health Promotion, it was found that these young adults slipped by without an age check most often when they visited small stores, tobacco shops and shops plastered with tobacco ads.

“Our findings suggest that certain types of stores – tobacco shops, convenience stores and those with a lot of tobacco advertising – are more likely to sell tobacco to a young person without checking his or her ID,” said Megan Roberts, Assistant Professor at Ohio State University in the US.

tobacco
FILE – Cigarette packs are seen on shelves in a tobacco shop in Cagnes-sur-Mer, France. VOA

“One implication of this finding is that enforcement may benefit from targeted outreach and monitoring at these locations,” she added.

The study included visits to a randomly sampled 103 tobacco retailers in 2017.

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More than 64 per cent of grocery stores checked IDs, compared with about 34 per cent of convenience stores and tobacco shops, and 29 per cent bars, restaurants and alcohol stores.

“Having a minimum legal sales age for tobacco is important for reducing youth access to tobacco. Not only does it prevent young people from purchasing tobacco for themselves, but it prevents them from buying tobacco and distributing it to others, often younger peers,” Roberts said. (IANS)