NEW YORK (TheStreet) -- Warren Buffett's name has been tossed around with China quite a bit over the past few days. Although he has consistently sung the praises of the United States, this world-famous investor's investing habits are far from U.S.-centric. On the contrary, in recent years he has been spotted jet-setting around the globe on a hunt for his next big opportunity.China, in particular, has been a popular destination. In 2009, Buffett spent HK$2 billion to purchase a 10% stake in the battery maker-turned-electric car manufacturer, BYD. Thanks to China's blossoming middle class and the wild initial success of models like the F3, BYD shares surged following his investment. For Buffett, this dramatic ascension translated into dollar signs. Less than a year after his purchase, media sources reported that it had earned Buffett USD$1 billion. BYD was shaping up to be yet another success story for the Berkshire Hathaway BRK.A chairman.
10 Dow Dogs That Are Barking for Gains Whereas BYD's success has depended on the growing strength of China's middle class, NetJets caters to the demands of the region's wealthy citizens. This class, however, has also grown dramatically and looks to expand further in the years ahead. In fact, according to The Wealth Report 2012, the region (including Southeast Asia, China and Japan) now boasts 18,000 centa-millionaires, making it the largest concentration of ultra-wealthy individuals in the world. Comparatively, North America and Western Europe count 17,000 and 14,000, respectively. The outlook appears optimistic, but it will ultimately take time to find out if NetJets' foray into the Chinese marketplace bears fruit. We have seen some discouraging signs of an economic slowdown in China over the past few months. However, famous investors like Warren Buffett appear unwilling to give up on the nation. What are your feelings towards China? Feel free to leave a comment in the space below. -- Written by Don Dion in Williamstown, Mass.
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