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SMG Chairman Simon Murray expressed high confidence in China during Asia trip

“Huge amount of debt is pressing world’s leading countries. Only China who is maintaining high annual growth rate about 7% is assured of this”

 The ‘Right-hand man of Li KaShing’ Chairman Mr. Simon Murray (73) said the national debt problem of USA and Europe is highly estimated to deteriorate and Chinese economy will attract public attention again.

SMG Chairman Mr. Simon Murray who visited Korea for having meeting with Korean politician and economic figures said during the exclusive interview with Maeil Business Radar M. SMG is an asset management group founded by Chairman Mr. Murray with investment of Li KaShing, the Chairman of Cheng Kong Group, who is known as the richest man in Asia. SMG is managing more than US$ 1.5billion capital and it has already invested about US$ 90million in Korea.

Chairman Mr. Murray said “When Argentina declared default, the total debt of Argentina was US$ 82billion. However, today the total debt of Greece and Italy is US$0.5trillian and US$2.5trillian, even worse the total debt of USA is US$20trillian.”

He also said “The economic growth rate of those countries is low, it makes them harder to deal with the debt problem” and “That’s why China who is maintaining high growth rate will be the brightest investment object in the next two decades”

Chairman Mr. Murray also estimated that the debt problem of USA will intensify the weak dollar, and the weak yen will not be persisted result in the weak dollar. He said “Due to Abenomics, yen value was decreased to 90~100yen/dollar, but it will regain its value to about 75yen/dollar.”

SOURCE. Mae Il Economics (Korea)
UPDATE. 2013-08-30
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