On the internet, there seems to be no location. You can visit a site out of Beijing as easily as you can from Topeka. But just because you can go everywhere in the world on the internet doesn't mean that the internet isn't localized. If you want your website visitors to be served as quickly as possible, your best bet is to host your site on a web server as close to your users as possible.
Many services offer a low "starting price," but require you to prepay for two or three years of service to get that price. After the promotional period, the renewal price for some services can be two, three, or even four times the initial promotional pricing. While the initial deal might be incredible, the cost of transferring your site (or paying the added fee) in a couple of years may be something to consider.