According to this WashingtonPost.com article, China is quickly becoming the next Silicon Valley. The area has seen substantial growth in startups over the past decade because of an aggressive government campaign to attract private investment. The new companies emerging involve websites, telecommunications, biotech development and medical devices. Yet despite the excitement surrounding the technical revolution in China, some fund managers worry that China is creating a bubble that could burst just like it did in the U.S. about seven years ago.

On the other hand, VCs and entrepreneurs point out that Silicon Valley has still remained a prominent tech area, despite the dot-com bust. Some analysts say it's hard to compare the two locations. "The scope of investment is much greater in China. In the U.S., it's all about tech," said Joseph Chan, a managing partner for Pillsbury Winthrop Shaw Pittman.