As global stock markets rebound after "Black Monday," debate over how China's economic slowdown will impact the world economy continues. Former US Treasury Secretary Hank Paulson spoke about his recent book, "Dealing with China: An Insider Unmasks the New Economic Superpower,” as part of the McCloskey Speaker Series in Aspen, CO, and outlined the steps needed to build a bright economic future for the US.

The next frontier for China is the aerospace industry, which carries huge implications for U.S. national defense and economic strength.