CHAPTER TWO
Scarcer (and Richer)
Resources Are Getting More Expensive
Nearly 50 percent of the world's pigs live in China. For some reason, this little factoid keeps me up at night.
The pigs are just one indication of how China's relentless growth and climb up the wealth ladder are creating extraordinary demand for the world's resources. It's hard to get your head around a country with 1.4 billion people, where an economic slowdown means “only” 7 or 8 percent growth.
New Demand for Everything
The numbers on China (and India) are staggering. The pig statistic and many others are part of a compelling, and fun, analysis from investor Jeremy Grantham, founder of GMO, a firm with $100 billion of assets under management. Grantham, an expert in commodities, ...
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