"China did a much better job than the US or Europe in getting their fiscal stimulus out early and more targeted and that's why their rolling," said Navarro. "The issue is really if there's an asset bubble within the country and whether the whole thing is going to collapse."
As for finding good Chinese companies to invest in, Oberweis said it's the same anywhere in the world. "You look for companies that have differentiated product sets that are able to grow even faster than the market overall. You need to find companies that will grow even if the economy doesn't provide a tailwind."
"A good and easier way to play China is the FXI, and exchange traded fund that's like the Dow here in the US. It's near its 52 week high now," said Navarro. Another way, said Navarro is the ETF Wisdom Tree Dreyfus China Yuan (CYB). Navarro said that's because the yuan will probably have to de-couple from the dollar.
"China is like the only success story in the global economy," said Navarro. "It's like the locomotive pulling the globe, what the US used to be. How it goes the rest of the world may go."
China Automotive Group (569.HK)
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Navarro personally owns ETF Wisdom Tree Dreyfus China Yuan (CYB).