For decades, General Motors Corp. (NYSE: GM) was an icon of American industry. But over the past decade its sales in China have steadily increased, while dwindling sales at home have turned the company into a relic.

From my vantage point on my recent visit to both China and Japan, the signs are clear.China is coming. And Japan knows it.

There’s an old adage in business that big contracts command big headlines. But bigger isn’t always better. All too often, companies that focus only on big contracts discover there are very lean stretches between contract awards. And that affects the predictability of their earnings.

As China grapples with the consequences of its devastating earthquake, it finally also has begun to confront the destabilizing forces that are bubbling up from beneath its economic landscape.

What countries are truly the have and have nots of the world? Good friend and business partner Niels Jensen of Absolute Return Partners suggests we look at the old equation in a new way? Food and energy resources may be at least part of the definition in the future.

‘Chimerica’ stocks and how to profit from companies that do their business in China has been creating a huge amount of buzz on the internet since investment guru Tom Dyson at Daily Wealth started to write about the subject.

“Chimerica stocks are Chinese companies,” says Tom. “They do business in China, with Chinese management, Chinese employees, and Chinese currency. They make products for Chinese consumers.

The key is that these Chinese companies list on US stock exchanges.

It’s the highest price ever paid for a single lot of wine, reports Reuters.

The buyer? An anonymous Chinese billionaire.

According to the report: “The anonymous Chinese entrepreneur bought a mix of vintages of Romanee Conti, a Burgundy wine and considered to be among the world’s most exclusive with only 450 cases produced each year.”

China is booming, despite the recent sell-off of Chinese stocks, but how do US investors profit from the China story without getting burnt?