US Prez named 'Person of the Year' by Time Malala is runner-up

US President Barack Obama has been named Time magazine's 2012 Person of the Year, with the US publication calling him the 'Architect of New America'. This is the second time in four years that Obama has been named person of the year by the publication. He had received the title in 2008.

Coming closely behind Obama is young Pakistani education activist Malala Yousafzai, who is recuperating in a British hospital after being shot by the Taliban in October in Pakistan for speaking out about girls' right to education.

Obama told the publication that the American leadership has to recognise that India and China are going to continue to rise and political and economic growth in these nations will be good for America. "We are helping to shape and frame what the Asia Pacific region will look like. That's critically important because that's where the growth and population and increasing centre of gravity is going to be. There is a genuine desire for American leadership in that region.” he said.