Michael Phelps wins 2nd gold medal

Michael Phelps.
Michael Phelps.
Reported by Charlie D'Agata

Posted by Nick Dutton -

(CBS NEWS) - Michael Phelps can thank his teammate for this one.

His dream of a record eight-gold sweep was kept alive by the stunning come-from-behind anchor leg of Jason Lezak.

A fingertip beat the French, in world record time. His superhuman schedule -- six more races to go -- was a concern before competition began.

"Just take one race at a time, that's all I can really do. You know with having so many races back to back to back. It's just taking one race, once that's over, put that behind me no matter what happened and get myself ready for the next one," says US Olympian Phelps.

Across town, US women gymnasts struggled in the qualifying rounds as they stumbled and fell behind first-place China.

The competition in gymnastics between the United States and China is shaping up to be one of the epic battles of these Olympics, but when it comes to the battle on the basketball court that ended up being a bit of an unfair fight.

Kobe Bryant and LeBron James waged an onslaught that left NBA star Yao Ming unable to defend his fellow countrymen. Bryant had five slam dunks -- and said the last time he did THAT he was 'like 17.'

Chinese fans seemed to enjoy the game almost as much as President Bush.

Wrapping up his trip here, he stressed the importance of a partnership between the two countries.

President Bush says, "It's really important for future presidents to understand the relationship between china and the region, and it's important to make sure that America is engaged with china -- even though we may have some disagreements."

He called his trip an 'uplifting experience' that he won't soon forget.

Many athletes here would probably say the same.

CBS News contributed this report.