Asian Equity: Markets of choice

The Oasis of Strength that is China

The continuing double digit expansion of the Middle Kingdom is truly breathtaking, especially versus Western developed economies. The rapid industrialization and urbanization of China will continue to power its economy. And this turbo-paced growth has helped drive up the global prices of many a commodity - oil and non-oil alike China has now overtaken Japan as the second-largest user of oil that is to say, only the United States is a bigger petroleum-consuming nation.

Another logical corollary of China's growth has been increased employment and higher wages, which will support higher...