Josh Weinstein invests in what he knows best, and lately, that has been China.In 2004, he flew some 6,500 miles from San Diego to Shanghai, China, to launch Duo Guo, a retailer of ringtones and other mobile content. His daily exposure to China's largest city now has him hungry for the next investment. So far, Weinstein has put money in Gome Electrical Appliances, a retailer similar to Best Buy ( BBY). He is also considering investing in English-language training schools like New Oriental Education. "If 1.3 billion people are striving to learn English, it's attractive, to say the least," he says. For broader exposure, he's thinking about a Chinese market index. The Shanghai Composite Index, for example, hit a record this year after doubling in 2006. "Since my ear is to the ground, I can make calculated bets," says Weinstein. Though living in China has its advantages for Weinstein, other investors hungry for a piece of the global pie need not move abroad to make sound investment picks. Here's a far-and-away strategy.