…Chinese stocks sold-off mainly because of over speculation. The Chinese stock market traded to a record high in late 2007 and was due for a correction. 

And now that China stocks have corrected, a good portion of the risk has been lost, yet the high reward potential remains. The opposite is true for investments in the U.S. — there's more risk here and less reward now.

Going forward, I continue to think that China is the best place to be investing our money during these tough economic times. The country's combination of domestic spending, government-driven domestic investments and strong stock market fundamentals should allow the Chinese economy to hold its own against a global recession, and in turn, create profitable investment opportunities.

Three Stocks to Buy Now

So where do the profitable opportunities lie right now?

In companies that are the primary beneficiaries of China's economic recovery. That means we should put our money in stocks that will benefit from China's recently implemented stimulus package — ones involved with domestic consumption and investment  Even in times of slower economic growth, the companies in these areas should continue to perform well.

Let's take a look at the three top China Strategy stocks that fit this bill — and should be in your portfolio.

Profit From China's Love for Cell Phones and All Things Wireless

Make no mistake about it, China leads the world in telecom growth. By 2010, half of the world's one billion global subscribers will be located in China. This is what makes China Mobile (CHL) a great play for American investors.

China Mobile has dominated the Chinese wireless sector during the past decade. In the past few years, China Mobile grew at the expense of the three other giant Chinese telecom companies, especially the landline companies. And now, China Mobile currently makes more than all of the other Chinese telecoms combined.

Some investors were concerned that the recent restructuring of China's telecom market would harm CHL's business, but the company's strong fundamentals have allowed it to remain a leader in the long-term.

China Mobile dominates in both distribution network and brand image.  The company makes more money than all the other telecom companies in China combined. And it has a strong brand name and unrivalled distribution network in the country, particularly in rural parts of China.

And this marketing advantage is much more difficult for China Mobile's competitors to overcome. And lastly…