Dubai, arguably the world’s most liberal city, financially, is slowly and fitfully crawling out from its crisis, but is regaining its attractiveness to arguably the most speculative business people on earth, Wenzhou folks.
Just about everyone these days is following the decline of the ill-fated US dollar, including famed contrarian investor Jim Rogers, who believes that recent pessimism over the buck will lead, counter-intuitively, to a short-term dollar rally. Rogers, chairman of Rogers Holdings, says he has no idea when it will happen but he has increased his dollar holdings over the past few months just in case. “If the rally doesn’t come, and the dollar just keeps going down, then I’ll just have to panic and dump like everybody else,” Rogers told.
Kevin Ferry the co-founder of Cronus Futures Management said the current “hot money” is heading for coffee and avoiding commodities such as oil and gold. Coffee is a good commodity to invest in and is popular among investors since it is “the second largest commodity traded in the world,” beating out steel, Ferry said.