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A few years ago, as the financial storms that would come to define his tenure were gathering off center stage, Treasury Secretary Henry Paulson viewed the economic relationship between the U.S. and China as his biggest challenge - and his biggest opportunity. He would sit down twice a year with his...

Author: /time Magazine | Title: Paulson in China: The Monster Under the Bed | 12/5/2008 | See Source »

The record will show that over the course of the past two years, China did in fact raise the value of its currency against the dollar more than 15%. But it will also show that during his last visit to Beijing as Treasury Secretary - which ended today - Paulson and his...

Author: /time Magazine | Title: Paulson in China: The Monster Under the Bed | 12/5/2008 | See Source »

That, at least, is the nightmare version from the American perspective. But China's ability to make or break the U.S. economy is more of a "monster under our bed," says Michael Pettis, a finance professor at Beijing University, something that people spend too much time worrying about. Economists like...

Author: /time Magazine | Title: Paulson in China: The Monster Under the Bed | 12/5/2008 | See Source »

Bob Costas Emmy Award--winning sportscaster who anchored NBC's coverage of the Beijing Olympics

Author: /time Magazine | Title: Person of the Year | 12/4/2008 | See Source »

In the year of Barack Obama, who is the indisputable Person of the Year, this is one competition where Michael Phelps can do no better than silver. But if the question were confined to sports, it would be Phelps by acclamation. His eight-for-eight performance in Beijing made him...

Author: /time Magazine | Title: Person of the Year | 12/4/2008 | See Source »

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