There is still plenty of opportunity globally, and as my friend has so dutifully pointed out, China has not only started to do the smart thing in diversifying away from US Treasuries, they have also kept their word in letting their currency appreciate:

http://finance.yahoo.com/q/bc?s=USDCNY=X&t=1y

So, if you believe currency appreciation will not spell doomsday to their cheap-input driven economic growth and are looking for a way to profit off an optimistic view for Chinese equities, this site lists a few of them:

http://www.tradersnarrative.com/how-to-play-the-chinese-stock-market-from-the-us-952.html

I personally am remaining cautious given the explosion in the mainland markets since January and the uncertainty surrounding the global economy…although ACH has been a beautiful ticker this spring.