With BIDU, I think I would be hedging downside risk in the Chinese market by buying 1/2 of FXP. You have to decide whether you think BIDU will preform better (or worse) than the Chinese market and that's a decision everyone must make. I think that is acting like a hedge-fund manager and that means you might be taking unnecessary risk and not generating the return that you could get in the US market.
That said, I think GOOG is the better choice. I was considering on whether to sell AAPL or GOOG and I chose to keep GOOG. With BIDU, you have to be concerned with what is like a 2000 tech market in the US and I believe that it has another 50% to drop from its current level (39.4% from its previous trough). In contrast, in the United States, you have a great bargain and that makes me lean towards GOOG going into the fall.
When, and if, FXI hits $75-$85 per share, I plan to pull the trigger on either BIDU or FXI.
Aqua