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If you want to take advantage of low prices in China I think...

If you want to take advantage of low prices in China I think $Tencent (TCEHY.US)$ is the best bet. $Alibaba (BABA.US)$ is slightly cheaper, but Tencent is higher quality with better management imo. Both trade at ~10-12x NTM earnings if you back out investments and cash.
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