Can GoDaddy make DNS resolutions based on a user's IP/location?
For example if a user accesses www.mydomain from China to apply a CNAME entry so that he/she gets content from www.myotherdomain.
If a user accesses www.mydomain from outside China then just resolve the DNS A entry.
Are you asking if that is something we do to handle traffic requests between our international pages or if it's something that can be done for your own site?
Short answer to both is; yes. However, it's not actually handled through the DNS settings alone as it is something on the hosting side (usually through custom scripting) that handles redirection of traffic based on geographic IP addresses. Unfortunately, I'm not an expert on this subject so I can't give a walk through on how to setup this type of traffic handling.
However, I know there are preferred search engine results that offer script discussions and tutorials on this subject. Perhaps another of our more knowledgeable members familiar with the subject might be able to offer some more insight on this as well?