This is a partial transcript from "Your World with Neil Cavuto," June 1, 2005, that was edited for clarity.
NEIL CAVUTO, HOST: Speaking of things that are spiraling out of control, think of this. Well, they both make planes, but they plain hate each other. Boeing (BA) says that Airbus gets too much help from governments over there. Airbus says Boeing gets too much help from our government over here. And now they're essentially going to court to settle the matter.
What is at stake? Let's ask Jim Rogers, the president of JimRogers.com and author of the best-seller, "Hot Commodities."
This is getting nasty everywhere, huh?
JIM ROGERS, PRESIDENT, JIMROGERS.COM: Neil, there's a terrible chance we're going to have trade wars all over the world. And that's a frightening thing, where America and Europe are coming down on the Chinese. Now we're at the Europeans, and they're at us. This is not good.
ROGERS: Nobody has ever won a trade war. Nobody has ever won a trade war. Trade wars are bad. They raise prices. They cause problems. They cause dislocations. This is not good for the world, for you, for me, or the world.
CAVUTO: Now, we say, in the Airbus dispute, that we have got a government-protected industry over there. They argue we have a government-protected airplane maker here. Who is right?
ROGERS: Both of them are right. You don't think we have a government-protected company here? And they do, too. It's absurd. The Europeans have spent $15 or $20 billion supporting Airbus. We have spent that $15 or $20 billion supporting Boeing. Why don't they just cut our taxes?
CAVUTO: So, both sides should just swallow it and deal with it?
ROGERS: Yes. Why don't we just say, listen, guys, there are two aircraft manufacturers in the world, Boeing and Airbus? These are big, big boys. Why are we supporting? Why are the Europeans supporting them? Say, guys, you are on your own. Go out there and make airlines and sell them or go out of business. There are only two. It's not as though they're 16.
CAVUTO: And the fact of the matter is, if we cut off ties with Airbus, we have a lot of operations abroad that they use. So, it has a reverberating effect, right?
ROGERS: Oh, it spirals. A lot of Boeing's products are made in Japan, so they can sell to the Asians. No, Airbus has a lot of products made all over the world, too.
ROGERS: I mean, this gets really nasty. What are we going to do? The Europeans now are going to attack the Japanese and the Japanese are going to attack the Portuguese?
CAVUTO: That set off a depression last time, didn't it?
ROGERS: Yes. Oh, you remember very well.
ROGERS: That's what I said. Nobody has ever won a trade war.
CAVUTO: Let me ask you this, Jim, because you were exactly right on this Netherlands and French vote. What happens now there?
ROGERS: Well, despite Stuart, I think this was an anti-bureaucrat and anti-politician vote. They are all saying, who is Brussels? Why do we have to listen to bureaucrats in Brussels that none of us know telling us what to do? So I think it's..
CAVUTO: When all they do is make chocolate, essentially?
ROGERS: They do worse than that. They cause confusion. They make rules and regulations which nobody wants to abide by. They're trying to make the Fins just like the Portuguese, just like Greeks. It's madness and the Europeans are fed up with it.
I don't think it's a rejection of the common market. I think it's a rejection of the political integration and the bureaucrats in Brussels and the local politicians.
CAVUTO: Does it mean then we benefit or our currency benefits? That's short-lived or what?
ROGERS: Well, yes, our currency is going up. It's going to last a while longer. But get ready to buy euros before long.
CAVUTO: Spooky how accurate you have been, Jim.
Thank you very much, Jim Rogers. "Hot commodities" is the best-selling book.
Content and Programming Copyright 2005 Fox News Network, L.L.C. ALL RIGHTS RESERVED. Transcription Copyright 2005 eMediaMillWorks, Inc. (f/k/a Federal Document Clearing House, Inc.), which takes sole responsibility for the accuracy of the transcription. ALL RIGHTS RESERVED. No license is granted to the user of this material except for the user's personal or internal use and, in such case, only one copy may be printed, nor shall user use any material for commercial purposes or in any fashion that may infringe upon Fox News Network, L.L.C.'s and eMediaMillWorks, Inc.'s copyrights or other proprietary rights or interests in the material. This is not a legal transcript for purposes of litigation.