Investment Guru Jim Rogers, "'Abenomics' Successor Suga, Japan Will Disappear If Things Continue Like This"

Jim Rogers, Chairman of Rogers Holdings.
Photo by Yonhap News

[Asia Economy Reporter Chunhee Lee] Jim Rogers, chairman of Rogers Holdings and an 'investment guru' who has continued to express pessimistic views about Japan's future, has this time mentioned the theory of Japan's extinction.

In the final article (October 9 issue) of his series "Unstoppable Predictions of the World's Top 3 Investors Jim Rogers: How Money and the World Move in 2020," serialized in the Japanese magazine Weekly Asahi, Rogers stated that because he likes Japan very much, he wants to deliver a harsh message and raised the theory of Japan's extinction.

He said, "I have been saying that former Japanese Prime Minister Shinzo Abe should step down as soon as possible," explaining that the reason is that Abe's principle of action is solely to maintain himself and the system, causing Japanese youth to pay the price. He added that Yoshihide Suga, who succeeded Abe as prime minister, continues the wrong policy called 'Abenomics,' saying, "There is nothing more unfortunate for Japan."

He pointed out the harmful effects of so-called 'Abenomics,' which boosts the economy through quantitative easing such as printing yen. He forecasted that the first arrow of Abenomics, financial easing, induced yen depreciation and raised Japanese stock prices, but when prices rise someday, the public will suffer. Furthermore, he noted that historically no country has achieved economic growth in the mid-to-long term through a policy of currency devaluation, and the benefits of such policies will ultimately go only to some traders and large corporations.

Rogers also criticized the second arrow of Abenomics, aggressive fiscal spending, as a policy that destroys Japan, evaluating that the Abe cabinet maintained wrong economic policies despite the continuous increase in national debt. He warned that if the Suga government inherits this, "Japan's teenagers should hurry to leave Japan," adding, "If I were a 10-year-old Japanese, I would choose to buy an AK-47 rifle or leave the country." He explained that mentioning the AK-47 means that as social problems worsen, people may need guns to protect themselves.

Rogers said that the rapid population decline is the background to Japan's worsening social problems. He predicted that by 2060, Japan's total population will decrease from the current 127 million to 93 million, and the proportion of the population aged 14 and under will be about 10% at that time.

He predicted, "On the other hand, Asia will develop, and the latter half of the 21st century will be the century of China and Asia." He also said that if North Korea begins to open up, investments will flow into North Korea with its excellent labor force, and South Korea will also grow, but "only Japan will fall behind in growth."

Nevertheless, Rogers said, "Prime Minister Suga advocates continuing Abe's line," and "Regrettably, if things continue like this, Japan may disappear in 100 years." He added, "I wonder if the Japanese people will vanish, and no one will speak Japanese, leading to extinction."

Rogers proposed bold spending cuts and active immigrant acceptance policies as ways for Japan to survive, but said, "Japan will not change," concluding, "Japanese youth should run out of Japan. Whether China or Korea is fine. Doing so will enrich their lives."

This content was produced with the assistance of AI translation services.