This image is an example of a Chinese-English ambigram. From left to right, English speakers will find the word "CHiNA" in calligraphic script. Read from right to left (or rather, top to bottom), Chinese speakers will perceive the two characters:

中国

read as "Zhongguo", meaning "China".

Here are some more examples. From left to right one can see the English word "EASt", and from top to bottom the Chinese character dong 東 is evident to any Chinese reader.

Here is the word "Tokyo", and from top to bottom the two characters 東京, meaning "Tokyo" in both Chinese and English.
More examples of Chinese-English ambigrams can be found at:
www.cognitive-china.org
or
http://blog.cctv.com/home_42.shtml