4. Zhou Xiaochuan
for holding the world's economic fate in his hands.
Governor, People's Bank | China
This August, Internet rumors that Chinese central bank governor Zhou Xiaochuan had defected sent portfolio managers and currency traders the world over scrambling for cover. Although the rumors were later proved false, they still revealed just how important Zhou has become to global economic stability.
It wasn't the first time Zhou has made waves on his way to becoming the most visible international symbol of China's new assertiveness. Last year, he roiled markets by proposing a new international reserve currency to replace the U.S. dollar. This year, he hasn't stopped pressing Washington to recognize that the era when it could dictate the rules of the global economic order is over. Zhou's case was bolstered this August when China surpassed Japan to become the world's second-largest economy, a long-awaited milestone that immediately set market-watchers pondering how long until China takes the top spot from the United States.
Batting away demands that China allow its currency to appreciate, Zhou recently described yuan revaluation as a Western-style fantasy cure, "pills that solve your problem overnight," as opposed to what's needed: a proper Chinese-style treatment of "10 herbs put together … that solve the problem not overnight, but maybe in one month or two months." It's the kind of line you can get away with when you're sitting on $2.65 trillion in international currency reserves.
ANDY WONG/AFP/Getty Images







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