China's Rise and the New Age of Gold: How Investors Can Profit from a Changing World

Preface

IN LATE 2019, I sent what I believed would be my final draft of China’s Rise and the New Age of Gold to my editors at McGraw Hill. The book predicted that within coming decades, the world would experience a massive bull market in gold. What did I mean by massive? How about gold reaching $20,000 an ounce or higher?

I expected two developments to underpin this enormous rise. Both were pegged to the rise of China and, more generally, of the East. One was that China’s continued heavy investment in infrastructure in the developing world would lead to commodity scarcities and rising commodity prices, conditions that historically have gone hand in hand with bull markets in gold. Even more significant, I believed that China would successfully ...