More than 2000 years ago, Confucius wrote, "Everything has beauty but not everyone sees it."
It is probably safe to say that feudal China of the ancient philosopher's day had very little in common with the fast-growing industrial powerhouse of the 21st century, and yet the wisdom of his words has clearly withstood the test of time.
If I were to apply that quote to modern China I would split it in two. The beauty part of it, at least from a financial standpoint, is the sheer growth and global prominence that it plays on the world stage today having replaced Japan as the world's second-largest economy. It is, without dispute, the world's favorite growth story today and to suggest that trillions of dollars from all corners of the world have been invested in it would not be an overstatement.Read More »from China: Economic Beast or Bubble Waiting to Pop?