"A new era could be dawning in Taiwan," says Asia region expert Keith Fitz-Gerald. Here, the editor of The New China Trader looks at an ETF and a mutual fund favorite to benefit from this forecast.

"While there were many reasons we recommended investing in Taiwan, perhaps the single most important was the potential for Taiwan to assume its role as 'China's real beneficiary.'

"We have been reasoning that President-elect Ma Ying-jeou would be far more interested in working with China than antagonizing it, as his predecessor did. We have also suggested that he would 'get on it' sooner rather than later by making relations with China a top priority.

"Indeed, Vice President-elect, Vincent Siew has already 'unofficially' met with Chinese President Hu Jintao on the sidelines at the Boao Forum for Asia. While it's too early to pass judgment, it could set the stage for a new era based on the friendly nature of the meeting according to observers.

"It could also set the stage for a longer-term pan-Asian economic boom. That would be great for the region but especially China and Taiwan, which have had bone-chillingly cold relations for years.

"For China, a fresh start is important because it would allow Beijing to demonstrate peaceful intentions at a time when Tibet and the Summer Olympics have become a lightning rod for all things Chinese.

"For Taiwan, a thawing would lead to new economic development and, we think, previously unheard of levels of business interaction. It would also potentially carry huge trade volumes and stability into the surrounding countries.

"And that's why we reiterate that you buy iShares MSCI Taiwan ETF (ASE: EWT) as well as U.S. Investors China Regional Opportunity Fund (USCOX)."

Each day, Steven Halpern's TheStockAdvisors.com offers the latest market commentary and favorite investment ideas from the nation's leading financial newsletter advisors.