Mr Rogers told the Asia CEO Agenda at The St. Regis Singapore on Thursday that US leaders have been saying that 'everything's going to be alright for the next quarter, for two and a half years now'.

The Singapore-based investor dismissed the forecasts as far too optimistic before going on to talk about stock markets and their looming problems.

'I'm not buying shares, I'm not selling shares short at the moment,' he said, adding that he expects 'more bottoms this year and next year' and suspects that there will be 'currency crises, maybe this fall or maybe next fall'.

But he was bullish about China and Asia in general: 'The 21st century is going to be the century of China ... China and Asia are going to be the place to be for the next 100 years.'

He was particularly excited about Chinese tourism because it was easier for the Chinese to travel now.

Mr Rogers also pointed out opportunities in other areas, such as the water reticulation sectors in northern India and northern China.

Mr Rogers, who created the Rogers International Commodities Index, also spoke on the comparisons of doing business in India and China.

Read the full story in Friday's edition of The Straits Times.