Even with the arrival of the much-hyped Beijing Olympics, the Chinese stock market remains on a serious downer.

Yesterday, China’s benchmark Shanghai Composite Index dropped 5.2 percent after economic data revealed wholesale price inflation jumped to its highest level in 12 years in July.

However, Taipan Daily editor Justice Litle says China’s long-term outlook remains strong - and some China plays look more favorable than they have in years. Here are Justice’s six reasons why the China bears are wrong…

‘The economic figures in Spain have deteriorated. Rato proposes reforms, and hopes that the government approves a package of economic measures soon’ says Paola Pecora.

From Bloomberg:

Federal Reserve policy makers, sensing both renewed inflation dangers and a possible economic boost from government rebate checks, may be nearing a pause in interest-rate cuts after the fastest reductions in two decades.In remarks this week, Fed Governor Kevin Warsh, San Francisco Fed President Janet Yellen and three other district- bank presidents voiced concerns about rising prices.