To prove this point I checked in with some Chinese Internet stocks that I wrote about and recommended back in 2001 when I wrote for Zacks Investment Services, a subscription-only newsletter.
I also taught entrepreneurs in China for several years and got a good look at how things were building out there.
In the interim years something happened in China that I predicted: consumerism. That drives buying stuff like phones, which drives adoption of online services.
In the early days of China tech it was believed they mostly copied Silicon Valley, cloning google, facebook, whatever. Some of that is true.
But what happened in China was fierce competition combined with massive user bases to create brand new methods to do online services. These days in many ways China is ahead.
A picture is worth a thousand words, here are the stock charts of a few of them. Note the early price versus today: