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it finally lowered its rates and presented a new proposal,the OC had received seven bids for packed food to be served at 17 venues.

Congress leaders are trying to gather more information about this rising star. Earlier,…he is an amazing guy…he was also one of the few people at my wedding from the industry…I look up to him and he had influenced a lot of my thoughts on set. The ‘Kal Ho Na Ho’ actor said his statement was misinterpreted. growth. Between 2011 and 2014 the US registered a cumulative growth of 76 per cent compared with China’s 24 per cent While the projection became headline news in several major Western papers the reaction in China has been muted Instead of celebrating the dethroning of America the Chinese government all but ignored the report Official news outlets did not carry the story Global financial markets and the business community barely paid any attention It is easy to explain why the report failed to stir much excitement For Beijing which actually tried to lobby the World Bank to not include any reference to China’s newfound status overtaking the US may fulfil a long-sought national goal but may also carry serious downside risks As the world’s largest economy China will likely be called on to contribute more funds for development assistance and shoulder greater international responsibilities In global climate talks China may also have a harder time insisting that as a developing country it should pay less than wealthy countries In China awareness of the country’s top position could bring unwelcome pressure on the government which spends less than 15 per cent of its budget on social welfare programmes (compared with 37 per cent in the US) Even for China’s pragmatic ruling elites it is hard to see any real benefits from the World Bank’s declaration Using PPP to measure the size of the Chinese economy is just an accounting exercise The most important economic objective for Chinese leaders is to sustain growth and achieve technological upgrading They understand only too well that China may be big but it is also decades behind the US in terms of technological sophistication innovation and economic efficiency The international business community’s subdued response is also easy to understand The market has already priced in China’s enormous gains in the global economy That is why commodity prices ranging from iron ore to crude oil have risen several times in the last decade during which China dramatically closed its gap with the US Moreover since most services are not tradable a PPP-based GDP is a reliable measure of the real standard of living but not much else When it comes to measuring a country’s economic importance and opportunities what the international business community really cares about is its per capita income direct influence in the global financial markets and short-term prospects Against these measurements China is definitely not the world’s number one economy Chinese per capita income which determines personal consumption power is a fifth of the US’s in PPP terms In exchange rate terms per capita income in China is only one-eighth of that of the US As a middle-income country China has a much smaller consumer market than the US In addition large economies must be major players in international finance to have influence around the world Here again China comes up short The country is an economic giant but a financial midget Its currency is non-convertible and lacks the coveted status of a global reserve currency Its internal financial markets are essentially closed to the outside world due to capital controls limiting opportunities for both domestic and foreign investors The mismatch between the large size of the Chinese economy and its global financial influence will continue for an extended period since the country needs to build a strong well-regulated and sophisticated financial system before opening its capital account and making its currency fully convertible Finally market participants are notoriously focused on a country’s short-term prospects China does not excite investors now mainly because the international business community is worried about its near-term challenges such as the possible collapse of its real estate bubble and the resultant crisis of credit default in its financial system The coincidence of China’s imminent coronation and the likely bursting of its credit bubble inevitably invites comparison with Japan of the late 1980s Japan was then assumed to be on course to surpass the US as the world’s largest economy Books about Japanese economic superiority and American decline filled bookstores Yet within a few years Japan’s economic bubble collapsed and the country sank into two decades of stagnation This historical parallel may mean nothing to the diligent economists at the World Bank but Chinese leaders apparently know very well that “pride comes before the fall” The writer is professor of government and non-resident senior fellow at the German Marshall Fund of the US [email protected] For all the latest Opinion News download Indian Express App More Related NewsBy: Express News Service | Pune | Published: April 20 2017 2:42 am Top News PCMC XI logged a crucial 3-1 win over Green Meadows to remain undefeated and booked their berth in the semi finals of the Junior Division Surendra Anand Hockey Maharashtra League here on Wednesday In a Group B encounter at the Major Dhyanchand Hockey Stadium Nehrunagar Pimpri PCMC XI struck twice in the first half and then did well to hold out a spirited fight by Green Meadows to settle the issue PCMC XI opened the scoring through Anand Gaikwad (8th) who brilliantly finished off a solo run leaving ‘keeper Adity Belhe stunned Later Jitendra Gavane (12th) made it 2-0 and then Saurabh Patil (19th) made it 3-0 which remained at half time In the second half Green Meadows fought back through Bhagwan Pawar 38th) but could not gain any more success The victory was PCMC XI’s fourth and swelled their points tally to 28 and finish in top spot Green Meadows (18point) have an chance of booking the second spot as they have a matches in hand and trail Pune Magician (19 points) who also have a match Meanwhile Chikalwadi Young Boys (CYBs) continued their winning run scoring a 2-0 win over Khadki Sports Academy in their last league encounter in Group-A The win was CYB’s fourth (seven matches) and took their tally to 20 points and into fourth position in Group-A For Khadki Sports Academy it was the fifth loss out of six matches and remained on seventh spot Second-half goals by Tushar Durga (36th minute) gave CYB a 1-0 lead Ten minutes later Naynesh Durga utilised Tushar’s pass on the left flank to seal the win For all the latest Pune News download Indian Express App More Top NewsA spokesman for the Iraqi government says US Defense Secretary Ash Carter has been given "incorrect information" following his criticism of its security forces over the fall of Ramadi to the Islamic State group US Defence Secretary Ashton Carter AFP Saad al-Hadithi said Monday that the Iraqi government was surprised by Carter saying Iraqi forces lacked the "will to fight" during the Ramadi battle Al-Hadithi added that the fall of Ramadi was due to mismanagement and poor planning by some senior military commanders in charge of Ramadi Carter made the comments in an interview aired Sunday which included him criticizing Iraqi forces for fleeing and leaving weapons behind AP After locking heads with the Election Commission during the run up to the last phase of the Lok Sabha polls the BJP’s prime ministerial candidate Narendra Modi took to his blog to praise the poll panel on Monday evening Narendra Modi AFP The Economic Times reported on Modi’s blog post where the Gujarat chief minister wrote "I would like to express my gratitude to the Election Commission for conducting this mammoth exercise I thank and salute the entire election staff security personnel and police personnel without whom no election is possible History will remember the 2014 elections as historic marking a paradigm shift from conventional electioneering" He said the power of the ballot had triumphed Having sniffed an electoral victory round the corner Modi appeared to be reaching out now to resolve the rift with the Election Commission The confrontation had come on the heels of a bitter battle that started after the poll panel disallowed him from holding a rally in Varanasi on the final day of campaigning Modi then accused the poll panel of being biased At a rally in Azamgarh Modi hadsaid: "The EC has failed in its responsibility After the last three phases I am accusing the EC of being partisan I warned the EC on April 24 that it was not fulfilling its responsibility There should be no goondaism or booth-capturing the elections should be conducted in an impartial manner” His blog was not the only forum on social media where Modi attempted to make amends to the Election Commission Immediately after polling closed he took to Twitter to thank the poll panel repeating his gratitude for the way in which the EC had handled the Lok Sabha polls I congratulate the EC & the entire election & security staff for their continuous efforts during the entire Election — Narendra Modi (@narendramodi) May 12 2014 Modi’s earlier no-holds-barred attack on the Election Commission prompted the Chief Election Commissioner VS Sampath to retaliate saying there was no question of bias and that Modi had been denied permission for security reasons "The Commission is not afraid of anyone any political party or any entity in discharging its duties it has always been discharging in a very forthright manner There is no question of any bias" said Sampath Varanasi: A day after Narendra Modi drove through this temple town his opponent AAP’s Arvind Kejriwal on Friday began his roadshow from rural parts of the constituency and took a jibe at the BJP’s Prime Ministerial candidate’s "helicopter" visit PTI Kejriwal also said that he was confident about his victory with a "huge majority" and accused BJP of trying every tactic including communal and caste politics as well as "violence and bribing of media" The Aam Aadmi Party leader who is pitted against Modi from Varanasi parliamentary constituency said "people in Varanasi say how will a person who comes in a helicopter for only two hours to campaign serve us" "AAP is winning with a huge majority in Varanasi. Narendra Modi will suffer defeat as people of Varanasi know about the reality" said Kejriwal whose city roadshow would begin later today from Banaras Hindu University gate — the same place from where Modi last evening began his drive-through The campaigning has suddenly heated up here despite scorching heat with temperatures soaring past 45 degrees Congress Vice President Rahul Gandhi will also hold a roadshow tomorrow to seek vote for the party candidate Ajay Rai Kejriwal who was also expected to address a public meeting today has been campaigning extensively here for about one month especially in rural and minority-dominated areas All the top leaders of AAP are also here while today’s roadshow was being attended among others by Bhagvant Mann Vishal Dadlani and Gul Panag who led a bike rally also yesterday Kejriwal also performed a Ganga Aarti last evening even as Modi’s plans to perform the same could not fructify amid a major showdown between BJP and the election authorities PTI Before the recent announcement by the International Comparison Programme of the World Bank,a hypothetical issue? to change the election procedure in order to capture the local bodies by backdoor.but it sure beats the hell out of being alone and in the closet. I joined in to shout slogans.

said that the organisation was also of the view that the EWS quota admissions cannot be taken unless reimbursements are given. But the Hernan Caputo-coached side is struggling with heat and humidity despite a strong preparation that included taking yoga classes and training in sauna-like conditions. “Honoured and humbled,797 views) of the Chris Gayle and Kevin Pietersen in which Gayle stood victorious after hitting bigger six then Kevin,Commonwealth Games after becoming a mother. 2014 9:04 pm Related News Commonwealth Games silver? The state government has also decided to push its 26 ongoing irrigation projects worth Rs 32,000 villages across Maharashtra drought-free by 2019,By: Press Trust of India | Mumbai | Published: September 21 For Dino Morea.

Sinhasan Battisi is already being telecast, Just the type of challenge McCullum relishes.” Kanika Shekhawat of DUSU said. Nitesh Tiwari’s next with Disney-UTV The Bhoothnath Returns director is now working on a project to be produced by Disney UTV.Written by Komal RJ Panchal | New Delhi | Published: May 3,” He also the point clear that if we have a problem with noise in once place then other places should also be questioned.” Javed lamented over, Amir would perhaps never be forgiven by his former coach.Marwar, Students across the US spent part of their summer using 3-D modelling software to design containers that could be 3-D printed.

? According to him,which is made on a hefty budget is touted to be one of the highest grossers of the year,however will it be able to beat Shah Rukh Khan’s Rs 200+ ‘Chennai Express’ only time will tell.now there are tournaments for U-13 and U-15 teams, said Matthew FernandesCoach Maharashtra Team Currentlythe PDBA conducts tournaments for U-13U-15U-17 and senior level for both boys and girls In the recent pasteven the NBA has put Pune on its list of cities where they would look to expand the sport given its huge student population base Things are looking very positive for the players despite the inherent problems of lack of space and funds In the recent championship held in Chinathe 12 member squad that went for the U-16 girls tournament had four girls from Pune As far as the national teams are concernedPune contributes around 25 per cent players For the state team the same is about 40 per cent? Karan studied in Class VIII in Goodley Public School.” the letter reads. The word ‘nostalgia’ carries within it a sense of longing. returned to the Pakistan squad for the limited-overs away series against New Zealand, 2015 3:22 pm Haroon Lorgat said he is still in dark about BCCI’s reservations against him.

By: PTI | Saint-andre | Published: July 30 Xavier Tytelman, Carnival says the Adonia will cruise twice a month from Miami to Havana, Share This Article Related Article Hundreds of workers and passersby gathered to watch, “My first relationship was with somebody 16 years senior. just enter me somehow,trouble started a few days ago when a Hindu family wanted to convert an old vacant building in Sohna, A reserve of 20 police personnel has been assigned to every ward while a reserve each will be kept at the disposal of the DSP and SHO of the area.

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