A Quote by Steve Mollenkopf
Look at smartphones. We are seeing growth almost like a barbell. You see lower-priced but high-volume growth in the developing world. But it ends up the average selling prices in the developing world are actually a lot higher than what people think.
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We're up at almost seven billion people on the planet and most of that growth has been in the developing world.
There's no growth. If China has a GDP of 7 percent, it's like a national catastrophe. We're down at 1 percent. And that's, like, no growth. And we're going lower, in my opinion. And a lot of it has to do with the fact that our taxes are so high, just about the highest in the world. And I'm bringing them down to one of the lower in the world.
Since loans are getting more expensive and there's less money available, we're seeing a commensurate decline in growth. Higher costs and lower growth, in turn, translate into lower profits. Figuratively speaking, in the future, we won't be able to run as far or jump as high as we used to.
Nobody in the developing world is going to take, as an answer to their aspirations, the developed world's reply: 'Sorry, you can't; we've already used it all up.' To earn the right to look the developing world in the eye and start this conversation, we need a reassessment of how we live and what we want.
Growth, growth, growth -- that's all we've known . . . World automobile production is doubling every 10 years; human population growth is like nothing that has happened in all of geologic history. The world will only tolerate so many doublings of anything -- whether it's power plants or grasshoppers.
When we acquire businesses in the developing world, we estimate if the growth opportunities are strong.
There is job growth in renewables, there is job growth in energy efficiency and there is job growth in developing innovative industries and technologies to successfully meet the challenge of climate change.
Finally, we should help developing nations like China and India curb their exponentially increasing consumption of oil and natural gas, which is driving world prices higher.
I'm a big believer in growth. Life is not about achievement, it's about learning and growth, and developing qualities like compassion, patience, perseverance, love, and joy, and so forth. And so if that is the case, then I think our goals should include something which stretches us.
Even in developing markets, we're seeing the growth of digital communication is proceeding at a very rapid pace.
So, you're seeing the Rolls-Royces and the Bentley's still selling for big prices. You're seeing jewelry still selling, art works at auction. There was a diamond that sold for I think 38 million, 48 million, something like that just a week ago. So prices are back up to their highs, getting stronger and more and more people seem to have more and more money to spend.
Just from a political perspective, do you think the president of the United States going into re-election wants gas prices to go up higher? Look, here's the bottom line with respect to gas prices: I want gas prices lower because they hurt families.
For a developing country, average long-run growth of 5 percent a year per capita is excellent, and 7 percent is stellar.
What I'm trying to say is that for the average investor, what I would encourage them to do is to understand there's inflation and growth - it can go higher and lower - and to have four different portfolios essentially that make up your total portfolio that gets you balanced.
What I'm trying to say is that for the average investor, what I would encourage them to do is to understand that there's inflation and growth. It can go higher and lower and to have four different portfolios essentially that make up your entire portfolio that gets you balanced.
Developed countries and advanced developing countries must open their markets for products from the developing world, and support in developing their export and import capacity.
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