~
"
DECEMBER 22, 2008
Top of THE WEEK
The7 PercentSolution
Paulson and Bernanke have led a vast rescue effort, but the world economy is still tanking. Jeffrey E. Garten makes the case for spending much more, faster. Pa~a20
THE ISSUE World Affairs 20 The $4 trillion rescue
byJeffrey E. Garten 24 What Detroit got wrong
by Daniel Gross
28 Why lobbyists love Obama byRobert J. Samuelson
29 What China caTIlearn froID '29 byMichael Pettis 30 Beijing: The sick link in
reform byMary Hennock 33 Mter Mumbai: The private
caps byJason Overdoif 36 Is Sarkozy tao powerful?
byChristopherDickey 39 On Al Qaeda's letter to
Obama byGillesKepel 40 Thewhistle-blower: Bush's
spying byMichaellsikoff 50 Corruption: Obama's seat
for sale byEvan Thomas 53 Beware of Washington,
Mr. Obama byCharlesPeters Society & The Arts 54 The defining arts of the
Bush era
DEPARTMENTS 4 Periscope 5 Perspectives 19 WorldView 65 The GoodLife 68 The Last Word
CENTER OF ATTENTION:
Merkel(lcft), Sarkozy andwife Carla
Vol. CUI, No,25, December22, 200B@ 200Bby NEWSWEEK,Inc" 251West 57th Street, New York, NY10019,Prlnted by Roto Smeets, Weert, Netherlands. Ali rights reserved. Reglstered at the Post Office as a newspaper. Copyright un- der the International Copyright Convention. Copyright reserved under the Pan American Convention. Registered ln the Philippines Patent Office. ln the U.S.A.:Postmaster: send address changes to NEWSWEEKINTERNATIONAL,
251
West 57th Street, New York, NY10019;periodical postage paid at NewYork, N.Y.,and at add~ional mailing offices. NEWSWEEKINTERNATIONALis written and edited for a woridwide audience and is publlshed weekly, except occasionally two issues are combined into one expanded issuewhich counts as two subscription copies, in the U.K.by NEWSWEEK,Inc.(ISSN 0163-7053).
Toorder reprints (minimum order required: 500 copies) or request permission to re- publish a NEWSWEEKarticle please call1-212-445-4B70 or fax 1-212-445-5764. Dir. Resp.Italla Marco Provasi; rappr.IMD sri, via G. da Velate 11-20162Milano; autoTrlb. MI N. 453 dei 12/06/B7 sped. Abb. Post. 45% art. 2 comma 20/b Legge 23/12/96 n. B62 Mllano; Repr.pour la France: LM.D. France S. A., B.P.1029-59011 LilleCedex-Tel 03.20.30.03.02.Le Directeur de la Publication: Alan F.8one-C.P.P.A.P. No.0708C 83393. Cenuméro comprend un encart de deux pages (abonnement) situé entre les folios 2 et 55. Editeur responsable pour la Belgique:André Verwilghen, AvenueLouise176,
1050 BruxellesTOPTO BOITOM, KEVIN IAMARQUE-REUTERS, ELODIE GREGOIRE-ABACA
3