(Adds quote on China's one-child policy, background)
BEVERLY HILLS, Calif., April 28 Billionaire
real estate and media baron Sam Zell said on Monday that, all
in all, he would rather invest in Brazil.
"I'd buy Brazil," Zell told the Milken Institute Global
Conference. "It has the chance 30 years from now of being a
bigger economic power than China."
Zell, chief executive of Chicago Tribune parent, The
Tribune Co, and chairman and president of Equity Group
Investments LLC, was responding to a moderator's question on
what single investment panelists would make in real estate.
Zell said the South American nation's large population of
180 million people, highly-trained work force, and array of
crops and natural resources has made it largely
Zell also said Brazil's biggest mall operator was seeing
retail sales growth of 10 percent annually.
Zell said China's one-child policy, enacted in 1979 to help
deal with overpopulation, would hurt the country in the long
run because it will cut the number of workers. "I think by 2020
that will come back to bite them big time," he said.
Last fall, China extended the one-child policy through
(Reporting by Bernard Woodall and Nichola Groom; Editing by
Tim Dobbyn, Toni Reinhold)