"It's time to invest in Hong Kong, which is the gateway to China," says Mark Skousen, who looks to the iShares MSCI Hong Kong ETF (NYSE: EWH).

In his High Income Alert, the leading advisor explains, "While China's stock markets are wild, illiquid and unregulated, the Hong Kong market is among the freest and most transparent in the world."

"iShares Hong Kong, an exchange-traded fund, replicates the performance of the Hong Kong market. And I like the outlook here, as Hong Kong is home to many of the premier companies in the region.

This post is part of a special report, Global advisors look to China.

"Sure, China is slowing down along with the rest of the global economy; but it's still growing faster than everyone else," says Mark Skousen.

In his specialized service, High Income Alert, he looks to Huaneng Power (NYSE: HNP), "This power product is an excellent, recession-resistant China play. And we'll be collecting a 6.5% dividend too."

Skousen explains, "China's Premier Wen Jiabao's goal is 8% annual growth. He may not achieve it. But the outlook for certain industries -- especially utilities -- remains robust.

With its own economic stimulus program in place, a relatively stable banking system, and a stock market that has been resilient in recent months, numerous leading global investment advisors are looking bullishly towards China.

From technology to power, and from individual stocks to ETFs, and from Hong Kong to Taiwan to mainland China, we turn to seven leading advisors for their favorite ways for US investors to take a stake in Asia.

"Last spring, CEO Leonard Riggio of Barnes & Noble (NYSE: BKS) purchased almost $50 million-worth of his company's stock between $27-29.50; today, it languishes on the remainder table at $17.56," says Mark Skousen.

In his income-oriented speciality service, High Income Alert, the advisor says, "Now, a billionaire has also taken a stake." Here's the advisor's update.

"Barnes & Noble is a worthy addition to our model portfolio. Trading well below the level that the CEO purchased shares, we consider the stock a bargain.

"Barnes & Noble owns the nation's largest chain of bookstores, with 800 stores in 50 states. It also owns one of the Web's most-visited Web sites, bn.com. Between its stores and Web site, Barnes and Noble sells more than 300 million books a year.

"Oil is moving back up, and energy stocks look strong as we head into the final months of 2007," says Mark Skousen, who sees opportunities in the energy sector for both growth investors and income investors.

In his The Turnaround Trader, he looks at Patterson-UTI Energy Inc. (NASDAQ: PTEN), an independent oil and natural gas operator that provides pumping services and remedial work on existing wells in North America. He says, "Patterson-UTI Energy has been in a two-year bear market.

"Two years ago, the stock topped out at $38 a share. This year, it reached a high of $28. In the most recent quarter, its revenues and earnings fell unexpectedly by 18%. But Patterson-UTI Energy is sporting a 25% profit margin and now is selling at only six times current earnings.

"The stock is deeply undervalued and easily could move back up to $28 a share or higher. Zacks Investment Research predicts the stock will reach $29 this year, 'well within historical trading range.' Let's buy Patterson-UTI Energy and set a protective stop of $18 a share. For those willing to take a gamble, consider buying the January $30 calls."