The Wealth Effect (Cover Story)
From booming consumption to a looming trade war—a special report on how China is transforming the global economy

Hey, Big Spenders! (Cover Story)
China's expanding Consumer Class will provide much-needed retail therapy for a global economy that's dangerously dependent on The U.S.

Blaming China (Viewpoint)
Instead of addressing its own profligacy, the U.S. risks a ruinous trade war

The Sweet Taste of Success (Cover Story)
As Chinese get richer, wine has emerged as a major status symbol. But will they embrace or eschew the country's own increasingly sophisticated wines?

Can China Innovate? (Cover Story)
It's already the workshop of the world, But what China really wants to be is the world's laboratory

Retail Wars (Cover Story)
With WTO rules coming into effect, the China market is opening to new competition

China on Credit (Cover Story)
The Iron Rice Bowl Goes Plastic


Testing the Limits
North Korea may be planning an imminent test of a nuclear bomb. Or could Kim be bluffing?

Whispers of Change
Philippines President Gloria Macapagal Arroyo must face protests and rumors of a coup plot

Milestones

Verbatim
Sources: BBC; International Herald Tribune; Independent; Foreign Policy; Melbourne Herald Sun

Letters
The TIME 100

Indian Summer (TIME Global Adviser)
Get into the fun at Oklahoma City's annual Red Earth Festival, the U.S.'s largest Native American powwow

Square Meal (TIME Global Adviser)
Forget Paris. A beautifully restored café proves that Prague is Cubism's true home

Punk Rocks (TIME Global Adviser)
Vivienne Westwood offers safety pins with a stylish difference

Add-ons for Your iPod (TIME Global Adviser)
How to make the greatest gadget of all time even more gadgety

Arabian Knight (TIME Global Adviser)
Seventy years after his death, T.E. Lawrence still inspires legions of admirers to retrace his steps

A Neat Trick for Your Table (TIME Global Adviser)
Insulated glasses take the heat—or cold—out of the situation