Is it the thrill of victory to hear the sound of one hand clapping?

Advertisers who paid big bucks for Olympics sponsorships are wondering the same thing. According to the Wall Street Journal, companies are angry that access to the Olympic Green, which is the main focal point of most games, has been "strictly limited" to people with hard-to-get tickets to the venues.

"A small line of people stood outside the The Coca-Cola Company (NYSE: KO) exhibit, where dry ice and the sound of gurgling soda pop drifted out," the paper said. "Meanwhile, a giant restaurant erected by McDonald's Corporation (NYSE: MCD) at the end of the Green has been far from packed."

This, of course, could be a huge disaster for the International Olympic Committee, which counts on corporate funding to fund the games. This could also hurt television advertising by General Electric Company (NYSE: GE)'s NBC Universal division, because televised shots of half-empty stadiums may make whatever sporting event they are showing seem lame.

Overall, though, the games are attracting huge audiences worldwide because of compelling stories such as swimmer Michael Phelps' quest for Olympic immortality. It will be interesting to see if the viewership trails off once the swimming competition ends.

Advertisers are going to take note of this for when the IOC comes calling for the London games in 2012.

"For the next two-and-a-half weeks, almost all you'll hear in the news will be related to the 29th Olympiad in Beijing," points out Brandon Clay, who focuses on a China ETF as his latest investment idea.

In his All Star Investor newsletter, he explains, "Beyond this, in 2010, we will see the World Expo in Shanghai and the Asian Games in Guangzhou." So is now a good time to invest in China? Here's the advisor's assessment and his top pick for exposure to the region.

"China has been gearing up for the Games for the past few years. Finally, with a dozen new sports stadiums and a cross-city underground railway to ferry visitors to different venues, China will be on display to the world.

"If you've been investing internationally, you're no stranger to China. Depending on when you bought, you may either love it or hate it. For instance, in 2007 Chinese stocks rocketed up the charts 97%.

"In 2006, the gains were even more impressive at 130%! But it hasn't been all fun and games in the past two years. China peaked at the same time U.S. stocks in October 2007.

The 2008 Olympics will prove to be a profitable endeavor for lots of companies. We've spoken previously about ClickSoftware (NASDAQ: CKSW), a niche software player with workforce management solutions to manage service networks. (To learn more about the firm, read this article.)

So, how do you effectively manage a temporary but highly critical workforce for an extremely large, extremely high-profile public event?

One answer is by striking a deal with CKSW, which is exactly what's happened. ClickSoftware announced today that the firm has landed a deal via its Chinese reseller to "manage the field activities of hundreds of telecommunication technicians during the 2008 Olympic Summer Games in China."

After investors were disappointed with last quarter's earnings, this may be the win ClickSoftware's been looking for on the way to gold.

Zack Miller is the Managing Editor of IsraelNewsletter.com and a former equity analyst for a leading multinational hedge fund. Author does not own CKSW.

By the end of 2006, the Chinese financial market is supposed to be opened to foreign banks. Don't you believe it. Despite spending $23 billion dollars for stakes in Chinese banks, foreign companies own 2% of Chinese banking assets. Brian Bremner and Dexter Roberts have examined the regulations applying to foreign ownership and control in the Chinese financial sector. Their article, "How Beijing is Keeping Banks at Bay," (Business Week 2 October 2006), asserts that the Chinese government is willing to allow foreign entry into its financial sector only to the degree necessary to assure minimal compliance with its WTO agreement. Foreign entites can open only 1 branch per year, with a $50 million minimum in operating capital. Foreign entities are limited to a maximum of 25% ownership in a Chinese bank. This insures that foreign entities have no effective control over any Chinese banking strategy and/or operations. The banking sector is not independent enough from the Chinese government.

Against this protectionist backdrop, Industrial & Commercial Bank of China (ICBC) is beginning to sell what might turn out to be the world's largest IPO. ICBC officials and underwriters are in Hong Kong this week negotiating the placement of $3.5 billion worth of demand. The initial round of IPO shres is expected to raise $19 bliion according to Kate Linebaugh. "Chinese IPO Gets Star Investors." The largest investment entity will be China Life group, buying $847 million. Kuwait Investment Authority has subscribed for $719 million.

In a disturbing and related piece of information, the Chinese government recently passed a law prohibiting foreign financial information companies from selling data directly to Chinese banks. Only Xinhua, a Chinese publishing company, can distribute financial information in China. The government tries to reduce foreign involvement in the financial sector, bars access to independent thiid-party information, and investors still line up to buy this stock? Just how desparate are people to make a buck in China? Are they desparate enough to leave thier common sense out of the equation?