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Your first guest today, he's probably been to every single one of those markets and those countries. He has logged millions of billions of miles on airplanes. He is a trailblazer in investing in emerging markets. We're talking, of course, about Mark Mobius, the Mobius Emerging Opportunities Fund. Joining us now, Mark, it's great to have you on.
I You could be in Nepal or in San Francisco. I have no idea. Welcome. It's good to see you. Why do you think we're seeing this huge push into global markets? We only highlighted a couple, but pretty much every major and emerging market is actually outperforming the United States. Well, I think the main reason is because Trump has opened up the whole world in the sense that people are now realizing that anything is possible with Trump.
And as a result of his trade negotiations with China, now China is not the only game in town. We're now seeing all these other countries entering the export market and being able to compete. So, uh it's really very exciting to see what's happening around the world and probably the most exciting place now is India because India is going to be taking the place of China in many many areas and we've already seen companies like Apple and others come to India to manufacture and export.
So India, Vietnam, Tai Taiwan, Turkey, those are the ones that are looking very interesting for us at this stage. But as you pointed out, there are many other markets around the world that are doing better than the US. So I mean, although the US has come back, so maybe it's taken a little bit of the wind out of the sales of the sell America idea.
Mark, what did you think about that at the time? And what do you think about that as a risk going forward? Well, you know, one of the things we've discovered and one of the reasons why our new fund encompasses not only emerging markets but the US market because many of the US companies are actually emerging market companies.
Let's take Apple for example. Where do they manufacture all their products? Where do they sell all their products? Emerging markets are a big part of this company. So that's the kind of thing we're looking at. We're not only looking at the emerging markets but at companies in America that are benefiting from the growth in emerging markets.
Would there be any other examples of that? Uh another good example would be Microsoft. Microsoft is exporting it software around the globe and that would be another good example of a company that is really a global company not a US company. The richest man Yeah. the the richest man in India is going to be meeting with Donald Trump and I think Doha cutter in in a few days.
There's a lot going on there. I used to trade commodities in a life a long time ago and I and you know the one thing I liked about India was that it was rule of law. They used British law and you could actually enforce a contract in China. It was tough sometime people would just vanish. You'd sue them and they would just disappear.
But India has a lot of problems Mark. I mean they don't have a lot of electricity. the infrastructure for supply chains is we want to believe it's there but it but it's not. Um it is now the most populous nation in the world. How risky though is India as an a lot of opportunity but I would imagine a lot of risk too.
Well, the big problem with India is bureaucracy. As you know, they inherited this incredible bureaucracy uh from the British and the uh party that took over, the Congress party took over, perpetuated that bureaucracy. But Modi, the new prime minister's done tremendous job in cutting through a lot of the bureaucracy, but still there's a lot to be done.
And he's digitizing the entire economy. First of all, by getting digitized identity cards for everybody. So money can be transferred directly to bank accounts even to the poorest people in the country. But this takes time. I call it the United States of India because you have all these states many of them with different languages both written and spoken languages.
So to unify this country is quite a job. Still the opportunities are there because you have a lot of very smart people and as you say it's the most populous country in the world now. We figure about 1.2 billion people compared to I would say now India's greater bigger than China. and China maybe 800 to 900 million.
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