Powerful women: American businesswomen dominate the list

For the fourth year in a row, German Chancellor Angela Merkel tops Forbes' annual Most Powerful Women list. In ranking female leaders who combine visibility, economic impact, and career accomplishments, Forbes' tendency to put Merkel at the top acknowledges her management of the world's fourth-largest economy. And it's no surprise to see First Lady Michelle Obama in the no. 40 slot -- ahead of Oprah Winfrey, Queen Elizabeth, and Philippines President Gloria Arroyo.

What may be surprising, though, is that American women dominated the list, filling more than 60 of the 100 slots. While Forbes is, of course, an American publication, that presence on the list also suggests that the U.S. is leading the world on women's issues by example. No doubt it's encouraging to see the rising number of women in power positions in general, but it's important to remember they are still greatly underrepresented.