The next coffee futures market is in China.

Coffee futures may still be a new "fresh" trade for the Chinese market, but for Michael Nugent, it is the most mellow precipitation in his 40 years of futures trading experience. "I love coffee, and I think the Chinese like coffee very much, and I believe the next coffee futures market is in China," the director, who has been trading coffee, sugar and cocoa on the New York Futures Exchange for 40 years, told me at the beginning.

Michael said that the Chinese market is a new continent (20.80,-0.64,-2.99%). With the establishment of the futures market, this new continent has unparalleled attraction to the global futures giants. "it is too early to comment on what happened in China, whether today, last year or five years ago," he said. But what is exciting is that from the perspective of global markets, it is like discovering a new world. "

Michael said he had made plans to visit China within 90 days, which he called "an exciting trip" and an opportunity to learn. "I think China and the Chinese can teach me a lot, and I can share what I have learned about market mechanisms," he said.

Michael owns a futures trading company with partners who are industry veterans with 30 years of futures trading experience. At the same time, he serves on the board of the Intercontinental Futures Exchange (ICE) and the New York Trade Commission, especially in the field of coffee futures.

How much do Chinese people love coffee? In the words of Starbucks' boss, China is expected to become Starbucks' second-largest market in 2014, surpassing Canada, Japan and the UK, and second only to the United States. Starbucks currently has more than 800 stores in China, but is still making intensive efforts to invest and expand.

Coffee sales in China rose 13% to $1.13 billion in 2012, according to a new report by research firm EuromonitorInternational, "Coffee sales is buiding in China" (coffee sales in China are taking shape). Coffee giant Nestl é has also begun investing 16 million dollars to set up a coffee experience farm and training center in Pu'er, an important tea town in Yunnan province, in an attempt to teach Yunnan farmers who have grown tea for generations how to grow coffee.

In response, Michael said, "everyone likes to see China as a speculative opportunity to sell things, but I see China as a growing consumer market." I also think that China is a larger participant in world trade, especially in agriculture and in the field of coffee. In recent years, the Chinese government has regarded the coffee growing industry as one of the top 10 concerned products. This is a very wise choice. I believe China will become one of the most important coffee suppliers in the world. "

Last December, ICE announced the purchase of the New York Stock Exchange for $8.2 billion. [as a director of the ICE committee, Michael was very excited about the acquisition when he announced the purchase of the New York Stock Exchange for $8.2 billion. [as a director of the Weibo committee, Michael said of the acquisition, "this is an absolutely shocking thing in the last decade that has changed the market tremendously and the people of ICE are changing the world. Jeff Spreche (founder of JeffSprecher InterContinental Exchange) is a respected and follower of the financial industry. He is a promoter and shaker of the world.

After 40 years of ups and downs in futures trading and seeing the threat, destruction and reconstruction of several financial crises to the economy, Michael said of the 2008 financial crisis, "the devastating impact of this crisis is global." in the financial industry has left a stain, the aftermath is still not over, we have not yet returned to a normal state. "

"however, I believe that the business model built up by the futures market is still very successful, which helps to withstand the crisis and its aftermath. What we mean is that large companies and banks with many brokers represent an ancient model that privately creates companies and attracts talented people to work for us and develop relationships with big banks and brokerage firms for the benefit of their clients. this model is healthy and sustainable, "he says.

Michael also believes that times of crisis often mean good investment opportunities. More than 30 years ago, when the economy was very bad, he took a fancy to an old villa and vineyard in the wine town of Sonoma, Calif., and hesitated again and again. When he was young, he bought it out of all his pockets, which has become one of his favorite life investments.

(introduced by the author of this article: works for Sina Finance San Francisco Station, responsible for US financial news reporting and institutional cooperation. He has been engaged in Internet market management for many years and studied at Stanford Business School.)