Guest of Honor

Sitting in the cafeteria of the National Taiwan University in Taipei last week, M.B.A. candidate Fan Po-yu is considering his future150 km across the Taiwan Strait, in China. In classes, Fan, 23, is learning how to conduct business on the mainland. After-hours, more experienced friends tell him how to conduct himself once he gets there. (Don't talk politics; if someone asks about Taiwan's disputed status as a renegade Chinese province, shut up.) Regardless of the tricky politics, Fan's eyes are set firmly on China. "It's where the opportunities are."

It's only a small exaggeration to say that all...