COVER

Wal-Mart Nation

Wal-Mart's experience typifies the opportunitiesŚand pitfallsŚof doing business in China

BUSINESS

Wynn's Big Bet

With his astonishingly expensive new hotel in the U.S. and his aggressive global expansion plan, Las Vegas mogul Steve Wynn is raising the stakes once again

BRIEFING

Gulag Diplomacy (Notebook)

Bush risked angering Kim Jong Il again by hosting a politically sensitive guest

Facing the Music (Notebook)

Daewoo founder Kim Woo Choong returned home to face charges that could land him in jail for life

Verbatim (Notebook)

Quotes of the Week

Letters (Notebook)

The Class of 9/11

GLOBAL ADVISER

Retreat! (TIME Global Adviser)

Britain's Treasured Islands

Posh Perches (TIME Global Adviser)

Luxury treetop retreats are childhood fantasies for grownups

Grapevine (TIME Global Adviser)

Corking Good Ideas

Self-Expressionism (TIME Global Adviser)

Oslo's Munch Museum reopens with a show of the artist's self-portraits