While our attention is focused on the economic bailout and the November elections, China is moving forward with an active space program that could thrust them into leadership in that field. The Shenzhou 7 spacecraft carries three men into space, one of whom will become the first Chinese space-walker on either Friday or Saturday. This is a major step as so far only the US and USSR/Russia have accomplished the feat.
The long-term plan is for China to land on the moon within the next 10-12 years.
Meanwhile the US and Russia continue to fritter around in low Earth orbit.