The most important thing happening in the world today is the rise of China, according to Jim Rogers, co-founder of the Quantum Fund with George Soros.

Mr. Rogers, author of Adventure Capitalist, was the keynote speaker at CFA (Chartered Financial Analyst) Society of Bermuda Fifth Annual Forecast Dinner at the Fairmont Southampton last week.

During his PowerPoint presentation, Mr. Rogers explained his investment philosophy by incorporating his three-year journey around the world from January 1, 1999 to January 5, 2002.

"China is going to be the next great country whether we like it or not and the 21st Century is going to be the century of China. They call themselves communists in China but they are among the world's best capitalists," Mr. Rogers said.

"In China they save and invest over 35 percent of their income and they are willing to work as hard as necessary to live the way we do and the single best advice I can give you is to teach your children and grandchildren Chinese."

Mr. Rogers said if investors are looking for an asset class to make money, raw materials and natural resources are an asset to explore.

In the 1980s, people were interested in stocks, mutual funds and hedge funds but they were not interested in investing in sugar plantations or a led mines.

"Commodities have been the best place to be for quit a few years now and if you are going to diversify the best thing to have is some commodities."

"In most parts of the world in 2006 you don't drink the water, so investment lesson number one is that is that if anybody who can come up with a solution to the world's water problems is going to be unbelievably rich."