World stock markets are hot and you can barely find a sector or region that isn't way up in the last year. This environment incites investors to take on more risk, not cut back. Owning a fund that was up 35% last year doesn't create happiness for investors -- it creates envy for markets and funds up 100% or more. China fits the bill. As fear becomes optimism, the fund industry rolls out products to satiate the appetite of investors ready to take on the world, after licking their wounds in safe U.S. treasury bills. They want a story of boundless prosperity and potential profits. China delivers on all fronts.