the asson p. downgrade of the united states' economy has raised many questions about whether or not america will continue to be the powerhouse in the global economy and now the international monetary fund predicts that china will actually outpace the united states economy by two thousand and sixteen so how is all of this going to affect the traditional players and what is the impact going to be on the so-called developing world well joining me to help get some answers on all of this is oxford educated economist and the youngest me an advert to head a world bank department he's now the chairman of india's planning commission mr monti singh ahluwalia i want to thank you so much for joining me so first of all i want to ask you is the second wave of the global financial crisis upon us i think what will happen is markets would be disrupted. moderate growth prospects for the carbon in the u.s. and maybe in europe but i don't see this is going back to two thousand and eight

and so where do we go from here who is going to fix what's going on in the world right now the would. get together to work out what's the transition what's a reasonable transition in a world in which there will be more than one currency and where the traditional reserve currency at the moment is in a country which doesn't have a very well balanced macroeconomic situation and if there is. an n.t.i. do you think that perhaps there could be a shift in the world order and that india could be somehow gaining from what's going on in washington there is certainly a shift going on in the world there's no doubt about that i mean any medium term or long term projection suggests that japan will go relatively slowly europe may grow

a little bit faster than. the us has traditionally been viewed as a very dynamic economy is likely to grow faster than europe but the growth rate in these economies will be much less than the growth rate in the emerging market countries i mean china india brazil so i think over time there is a shift in economic power taking place one is to asia and another way of looking at it is really the rising rate of emerging market countries but i think you're thinking of a world in which there would be a large number of relatively equal economic groupings and you want to global system that can accommodate that if it can't be a global system which is run only by saying well look this is the center of power and everybody else must adjust and it's been said that europe has dominated the air national monetary fund in your opinion is that part of the problem or the solution

i do think that the dominance of the industrialized countries of these two institutions has to change remember that as long as europe and the united states are together. they account for almost half the votes in the army or from the world bank so even if you made a voting system they would be able to get their candidates in providing they collaborate with each other but you don't want to system where it's assumed that one organization will be run by one country and the other will always have a european and how do you think all of that has affected the euro zone and personally i think the world is going through some very important structural changes and if europe is showing signs of strain i think it's appropriate that the fund should do what is necessary but it's also appropriate that europe should bear a very large part of the burden and the costs and that's what's happening because the i.m.f. is working collaboratively with the european central bank on the whole i think

stability is very important for all of us and so far what they've done think is the right thing but looking ahead as new sets of problems arise i mean there's always an issue that the fund must be not dominated by the concerns of any one part of the world it should be should be seen to be reflecting global interests and do you personally think that the euro is going to survive the creation of a single currency for europe was a pretty major and a bold and ambitious step i think is generally recognize that if you want to have a single currency it needs to be backed by a single fiscal authority now since euro zone is different countries they obviously don't have a single fiscal authority but to back a single currency they must have a very shared understanding of who's going to pay the bills if a problem arises that will become

a substitute for the single policy i don't think that's been sufficiently clear i think in the first flush of you know a good feeling about the euro. there was an assumption that a lot of benefits that come to european countries from having the same currency but not enough appreciation that there are costs and i think that's now evident so it's a challenge for europe how they're going to handle this trade in future i do feel that they need to be if you like bailed out right now because i don't think it's in anybody's interest to see a major financial collapse but moving ahead how do you stop the same four problem arising ten years from now it is very important for europe to have very clear rules of behavior how are they going to deal with fiscal crises. i mean what's going to be the role of the european central bank in bailing out governments as opposed to the role of the i.m.f. so i think these are issues that the global community will have to look at and i

want to ask you about china obviously china is the number one u.s. to get holder i believe they have around three trillion dollars that you asked that in your opinion can they make the right decision and doing that this is true that the chinese have a very large holding to some extent if the chinese wanted to retain. parity with the dollar which was part of their strategy they would end up holding dollar debt because they didn't hold dollar debt then essentially the dollar would depreciate. at the renminbi would have appreciated so to some extent the chinese holding dollar debt is the other side of a corner of running surpluses but not actually appreciating against the currency that you're running a surplus which now you know that that period gave the world a lot of stability a lot of growth the chinese benefited i guess whether they made the right choice or not depends on whether we now adjust in

a soft landing mefford rather than in the highly disruptive and it's in everybody's interests including the chinese of course they're just me. should be a soft landing do you think that dollar is going to survive as a global reserve currency as a major currency absolutely i mean look the united states is going to remain. the dominant country globally it won't be as overwhelmingly dominant as it used to be but then suddenly remain the largest economy certainly for another ten years the fact that the u.s. has three movements in and out of capital will still make it the trendsetter rather than the trying these economies the real issue is in future would people be willing to hold all there is of dollars as a general rule if you've got four major currencies it doesn't actually make said story of the one. i think the in the past there's always been the

assumption that other countries may address but that the u.s. currency become the sort of. stability that i don't think can remain true once you get a lot of other countries which have more or less similar size as the u.s. and in your ideal world who should raftery the club or a commie i think there is a lot of consensus around the world that the fund is the international institution that should be looking at these things and if there are governance problems or inadequacies. known representation in adequate amount of the newly emerging countries then those should be corrected and we should actually use this as the forum and obviously you know there is a reshaping of the world economy actually if that's happening that's probably going to also cause fundamental political shift as well what do you expect to be from our point of view the rise of a number of emerging market countries will create

a much more balanced sense of the world economy amongst countries that were earlier seen to be dominant it my. create a greater awareness that you know they can't unilaterally decide the future of the world and certainly countries that felt that they were not part of the political decision making and now feeling part of the political decision making i mean that's good democratize asian of the globe which should have positive effects because it will make these countries behave in a more responsible manner and there's been a lot of talk about rating agencies being unaccountable despite their political influence when you make these agencies more accountable if you could one of the fundamental areas of conflict are the rating agencies rate companies that pay them to rate them so you can generally assume that a company that pays a rating agency to rate it is hoping to get a good rating so there's

a there's an element of conflict of interest if you're getting your money. from the people to whom you're giving a rating. i don't find an easy way of solving this problem but i think transparency transparency in how the ratings are done and the track record is the only really that you're going to be able to solve the problem and the last question i want to ask is you know a lot of people are saying that investors are going to perhaps invest more in these emerging markets if they start to look away from us treasury bonds i mean what's the planning commission it's short term predictions for india in relation to everything that's going on right now the big message coming out of how the global economy is moving is that the industrialized countries are going to grow more grew more slowly whereas the emerging market countries are going to grow faster india has been growing for the last five years at about eight point two percent anybody who's investing and looking around the world if they find one market is growing

a little somewhere between eight and hard for nine percent and another market is going to grow two and a half percent i mean they would be very well advised. to invest in the markets that are growing so we expect on a medium term basis that india would be it already is and will remain preferred destination for foreign investment people look at their global portfolio traditionally they've invested too much money in the industrialized world not having anticipated what the consequences of globalization are going to be so over time i think they should be rebalancing a little more towards the emerging markets and within that i think india would be a very good bet. it'll certainly be interesting to see how that fact and i want to thank you so much for taking the time to talk to me thank you.

writer. from funds to. start on t.v. dot com. t.v. and rebels prepare to attack one of colonel get out his last desert strongholds the town of bani walid that's after efforts to negotiate the surrender of the al sadr leader as remaining supporters break down. russia says. the un must immediately

call for all sides of the syrian conflict to stop violence and start talking the police came after mosque in damn the e.u. sanctions which it says threaten to hurt the people not the regime. and overcrowded prisons are breaking point working at almost maximum operational capacity this is the government hands out top jail sentences in a hardline approach to street rioters and looters. so we had lines up next we've got the sports update with natasha. hello welcome to sport here in r.t.l. top stories first icing on the cake russia add two goals to their medal tally on the final day of the world athletics championships with wins in the hammer throwing and women's eight hundred meters. meanwhile you say involved leads jamaica to a world record breaking victory in before by one hundred meters relayed finally

back to the deadly championships. and also russia to compete in the rugby world cup for the first ever time this year r.t. caught up with the school before they flew to new zealand. about to begin with a flat tax where the world finals concluded on sunday with russia claiming two more girls on the closing day but he has been the most surprising the odds by beating a world champion caster semenya in the women's eight hundred meters the russian clucky one minute fifty five point eight seven seconds samantha had to settle for. second behind and katie and janet says goodbye to bronze. i have an incredible feeling inside me i can't find any words to express them i'm not tired though my result was fantastic i have three more competitions this season but i won the most important one the world championships. and earn it that young always see on the top the podium in the women's hamel throwing up to marking seven

to seven metres and thirteen centimeters edging betsy hard love germany by more than meets a chinese event sushant completed the podium. and jamaica claimed the final gold of the championships in style so it's the only world record of the two men to the men's one hundred meters relay your same ball leads in the courts and to a thirty seven point zero four second victory finishing where head of second placed bronze and saying thanks and live in sync. remember hard to believe. let's. get back to the british. in football russia have to be thailand in the euro two thousand and twelve qualifying game to guarantee themselves the top spot in group b. dick advocaat schooled held an open training session on sunday two days before the

all important match statistics on russia side. i learned that first meeting away from home the upcoming moscow clash is a must win game for the visitors as a defeat could deny their qualifying hopes the hosts are fully fit but midfielder. sidelined through suspension russia also plays slovakia dural on the seventh and eleventh oct respect. the russian rugby players are looking forward to their first ever world cup match a clash against the united states on the fifteenth of september richard vanpool flick caught up with the school before they headed to new zealand. the wait is almost over thirty players will fly to new zealand we have spent the last three months training intensively and gaining vital much experience however of our senior team if the place is club rugby in england he's delighted but russia can finally start to do better talking on the rugby pitch it's been hanging over us the you

know that the idea of the world cup that's just coming up close by a day last month or so. so really was it just a bit of a relief when it's finally come however before they leave they spoke to the media about their hopes and expectations ahead of what will be the greatest moment so far in baseball which in career is russia one of the tournaments minnows but for the north times and he just glad to have made it couldn't even dream of it when i was younger yeah plains of russia and even playing for us at the world cup stage so now here are the last two years it has been a dream and i have travelled literally have a world away to get to russia still have a long way to go until they can even think of being able to compete on a level playing field with the likes of new zealand and australia however the president of a russian rugby union says before his country finally made it to the finals will

help boost the profile of the sport here suit his first time ever we want to fight for the rugby world cup it is a great achievement for us from the team for rushmore i think it was never before with just such an opportunity to play with the. most famous strongest teams of course if we're going to tease you to all play with them or force them to maybe meet some of these teams my technique is for the players for developing professional rugby it's a great experience in russia play their first match of the tournament on september fifteenth against the united states of america. given they are in a group of italy australia and island it's the game would be americans russian coaching staff will be targeting look to become the first debbie tunes to ever win the mansion their first will. mean more formal black legend sean fitzpatrick is delighted to see russia have made it to the world camp and he says the whole of new zealand is buzzing ahead of the tournament which kicks off on friday the ninth of

september using the cowboys was not here at the seven last time we had up there a lot of times to new zealand sun since you know as a nation. there's four million people talk about a stadium of four million people and they're looking forward to welcoming the rugby world despite a disappointing tour of united kingdom recently where the russians last four games against english club sides of the russian camp behind and even if they lose all four games in new zealand the most important thing is but they've become the first players to represent their country and the third biggest sporting event in the world which. moto g.p. now and jorge lorenzo has won the san marino grand prix to staying in tashan for they see as title cases don't know how every day is they overall a despite finishing third lower and so on his blue yamaha past the pole sit and seasonally down first and then held on to win ahead of compact with danny could draw a bit still night to set place you can result track so we want to finish for spain

in the psyllium spaniards were also winners in the rest of the canterbury's on the day the runs still outstanding is a function of thirteen point five races still to go in twenty eleven most next stop is that era gone. and finally the most high profile professional athletes usually have a skilful agent assigned for their exposure and big money deals the icehockey agent association vice president gore has been shedding some light on his profession it was a gorski explains. huge contracts global brand indorsements and thousands of screaming fans the ice hockey all stars of the world really do have it all but despite being phenomenally talented individuals they would have a hard time making such an impact on the biggest stage without someone pulling the strings behind the scenes you know the osha course never expected to become a sports agent but now he's become one of russia's trailblazers in the business he

manages such mega stars as you have gagne market in surrogate gone char. i became an agent by accident i lost my job in one thousand nine hundred nine and was struggling to make ends meet a friend of mine called me one day and said he got word from the new york rangers that a sports agency is pursuing me i didn't jump the gun and let those guys pursue my services eventually the company's representatives met with me and i took up the job . offers well aware of the trials and tribulations his clients these daily he himself had a twenty three year playing career and called spartak moscow after that. i've got some colleagues who never played and they think a hockey background is not necessary to do their job i tend to disagree as one must be able to evaluate an athlete's current level of performance and his potential that's what ultimately determines a player's price and while managing moloch in gone char and other big names would be the top entries on resume no agent would want to miss

a transcendent up and coming talent ready to blossom into a star bush as it was that i would say i represent between forty to fifty players in total including those born in one thousand nine hundred four and one thousand nine hundred five i tried to keep in touch with all my clients and go to their matches if possible obviously there's a conflict of interest frequently because i can't attend all my players games at the same time. the competitive big money business can bring out the worst in so major. what some going as far as to steal the diamond in the rough that others that found. god says he experienced those shady dealings first hand and believes a lack of sporting knowledge is driving his colleagues through underhanded tactics . one agent blatantly told me he would take players from me once his current crop of stars retire this practice is widespread in russia while the united states for instance has a code of conduct which limits such action if an athlete is already represented by

one inch and no other agent can recruit him. however it was shock of claims he knows a few american agents who find ways to cheat players out of their hard earned money so that i mean that you see this is i've never heard of agents taking money from players in russia but it's happened in the states before i knew that andre kostitsyn was a victim of such a scam and they also tried to trick alexander ovechkin and the alexander i don't love but since parents are the ones who often choose their child's agents for the future you should make inquiries about it every agent. the players themselves though are much tighter need goob and help each other out when the going gets tough molecule among those benefiting from the smooth n.h.l. transition by teaming up with gone char. malkin has an easier time adjusting because gone charm was already on the team max talbot's and sidney crosby were also our clients playing in pittsburgh at the time he moved into stargaze how use and

stayed there for three and a half years so gone char was like a big brother to have been there for a while he paid the bills helped him set up a bank account among other things. senior favorite athlete on the list of the richest people in their sport the cover of a new magazine or endorsing a product is the result of a good agent's work but those men like shut off also clearly have the ability to become greeted by his or to their clients while allowing the players to blossom in their respective leaves. yvonne's gorski r.t. that was the latest this fall stay with us for the main news at the top of the hour .

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the show would hope some will do mysti type the hotel kuvasz photo photo slim hotel resort evergreen gold photo toilet the grand victoria hotel gloria prince hutto oil gold springs resort and spa tied to hotel royal cheap and ambassador hotel. the evergreen close a hotel in thailand to eat london hotel time ambassador party hoto full points and how would prince or to the splendid hotel in touch with the hotel mean touch your room the photos a good go how would international house. every green lowell who told him to. be going rebels prepare to attack one of colonel get out his last stronghold after efforts to negotiate the surrender of his remaining supporters breakdown. the un must immediately urge talks in the syrian conflict says russia after condemning the

ease sanctions which threatened to hurt the people not the regime. at all crowded it's a u.k. prisons are at breaking point as a government hands out tough jail sentences and a hardline approach to street riders and looters. and those markets are dropping two percent this hour as a fresh set of economic states is trimming investor confidence worldwide russia is also bracing itself for a negative opening off the tumbling on friday morning that would. ninety am the russian capital you're watching r.t.i. marina joshie libya's rebel forces have surrounded the colonel gadhafi held desert town of bani walid southeast of tripoli saying talks with former leaders loyalists have failed could obvious troops have been.