now here's from india. the aston 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 twenty 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 mr monti ahluwalia 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 the slightly moderate growth prospects for the carbon in the u.s. and maybe in europe but i don't see this as 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 world needs to. get together to work out what's the transition what's a reasonable transition in a world in which there would be more than one currency the traditional reserve currency. of the moment is in the country which doesn't have a very well balanced mix attrition and is there a sense in india do you think that perhaps there could be a shift in the world order and. 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 a relatively slowly europe may grew a little bit foster good and the us has traditionally been viewed as

a very dynamic economy is like do the group in europe. but the growth rate in these economies will be much less than the growth rate in 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 pain and you want to global system that can accommodate that it 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 thought wish 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. 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 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 so on the whole i think

stability is very important for all of us and so far. they have done i 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 a single apology 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 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 rule 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.

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 it 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 if they didn't hold dollar debt then essentially the dollar would depreciate. the renminbi would have appreciated so to some extent the chinese holding dollar debt is the other side of a korea of running surpluses but not actually appreciating against the current see 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 addressed in a soft landing method rather than in

a highly disruptive method and it's in everybody's interests including the chinese of course the adjustment should be a soft landing do you think that dollars and i 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 it certainly remain the largest economy certainly for another ten years the fact that the u.s. has free 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 their reserves in dollars now as a general rule if you've got four major currencies it doesn't actually make said store all your lives in one car so i think the in the past there's always been the assumption that other countries may addressed 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 referee the global economy 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 might create a greater awareness that you know they can't unilaterally decide the future of the world and certainly countries that earlier felt that they were not part of the critical decision making now feeling part of the political decision making i mean that's democratize ation 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 and he is emerging market if they start to look away from u.s. treasury bonds i mean what's the planning commission it's short term prediction 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's 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

a half or nine percent 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 there would be it already is and will remain preferred destination for foreign investment people look at the 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. well it'll certainly be interesting to see how he has affected by all of this i want to thank you so much for taking the time to talk to me thank you .

download the official location. i pod touch from the. life on the go. see video. on t.v.'s my old comes an r.s.s. feeds now in the palm of your. syrian. border more protests to death as the head of the red cross makes a humanitarian visit to the country meanwhile russians to get the warring sides

into tools to avoid a repeat of libya's capital take to set. israel authorizes its special forces to shoot palestinian protesters as they prepared to malta his support of the u.n. independence as a jewish settlers in the west bank playing the sole purpose to prevent bloodshed. the gas and paul's ukraine pedals a bit thread of taking russia to court to force a price. says it will standards ground will be already selling deal kids continuing to insist on a price reduction say fall of refusing to make any concessions more in the daisies and. sports for the tasha. thanks alison welcome to the sports team will begin with

a look at our top stories use open tennis and russia's top ranked player battles and makes the quarter finals the second seed is still a major title. in the final preps ahead of tomorrow's euro. against ireland here in moscow the hosts a need to win to solidify their top position in group b. . and also this was the shot of the day and. phil mickelson eagle on the left to how well the line is highly debatable watson with donald also in the hands. now tennis the u.s. open whereas my job is set to face a mountain star in the quarterfinals and second seed baiting subban lisicki to set up that meeting while styles or have all held off another russian. of efficiency with sixteen when i was just eleven unforced errors this is

a struggle to match that placement sat a similar story in the second with my double closing out this six two six three victory she now meets australian saucer who has beaten her in seven minute to use. three previous matches and i'm really happy about that i. started off well and didn't let her far in her in the first then she started playing more consistent in the second and then two coolly and i was. able to hold my serve them break her virtually win the match in two sets. now on the men's side of things russian involvement is now over the last of all going down to miller in round three defending champion rough on the d.l. meanwhile had an eventful day at flushing meadows adolf do forty minutes and counting the may day hate seeing the world number two take care of the. siena seven six six one and seven five how this match and adopting

a dell now through to the fourth stage where he made similar for a place in the last eight. and york though taking its toll on the doll in the interview room afterwards journalist watching on as i grabbed his leg with cramps slowly stretching out before collapsing on the floor and it was it was quote really hot and it was just bad luck that the brain sprang up in front of the cameras instead of in the changing rooms. now a much more straightforward afternoon for fellow title hopeful and the school valley which includes drawing this six one six four six two victory over from the sound of lopez a clash in the last sixteen against surprise package american wild card donald young now awaits. the talk of the stars well. that's good. you know when you get another.

i mean it. was. because. it was important to those who. don't want to sort of the structure. you don't want to be. you know three four because it's not easy to recover. to football now where russia gearing up to take a massive step towards europe's one in twelve qualification on tuesday the group b. leaders take on the second seed the republic of violence here in moscow together because judges should enter the tie in high spirits having beaten the irishman three two in dublin. big becoming critical for both sides with slovakia and our media also still very much in the running for the ukraine and poland phylum finals has sent a fully fit school to choose from although the news of is out through suspension.

now russia yet to lose a game of the european basketball championships in lithuania their latest victory over obamacare is sending a strong message to the upcoming opponent slovakia and the other a beaten team who will now battle russia for group d. domination russia's andre q did you have helping himself to twenty five points five rebounds and four steals against the ball carry ons while fellow and big big mansion might be months golf added fifteen points but lots confessed to saving most of his tactical trump cards for the slovenians spain and france all the other nations yes to lose so far in the three. meanwhile denmark's most successful professional golfer is on a roll often taking the european mosses title to almost bjorn winning his second straight to the mint wild card in a final round of sixty two to match the lowest total of the zero korea and amazing day seeing the day into any three stroke deficit into a four shot victory a great approach on the fifteenth here just part of

a stunning nine on to around the or including chance of the becoming the obstacles will be swell to european title inside former world number one martin kaymer was next closest to the sixteen on the pont to little bonsa not even eagle of the fifth was enough for the german your own close down the eighty you were to disappear in the title used this year he also fought back from three down in the final round to win the johnny walker championship. last week. well i think when you get into contention and you get that high you know you keep going and with that leaderboard today you never know what's going to happen you know going to best place in the wall on that leaderboard and you never know who's going to come at you from so you just got to keep going and stay stay with your golf and i've done that for two weeks now i still very much within myself and played my golf and it's getting time to leave the boulder the boy to bang championship five people now chasing the the bubba watson with

a round to go to american head hole bogeys on the day but still lead by one thanks in part to these thirty on the seventeenth twenty eleven milestones when the. share of the lost some ground the south african now two strokes back adam scott showing some great range all in this set up a birdie on the eighteenth hole who's joined by jerry brown don't steal and fellow australia and jason day all want child back meanwhile phil mickelson is only four strokes off the base held by this eagle although it's well for the shot of the day probably. more disposed now where jorge lorenzo is victory the san marino motor just became the spaniard in contention for this year's title it's case a stone of the who retains the overlay despite finishing said on sunday the run so on he's blue yamaha boss and both say disto now on the first twenty four year old

would hold on to the top spot for the remainder of the event inching ahead of compadres. and still not want to rain on the track so in the run so count stone as advantage to thirty five points with five races still to go this year aragon is the next stop on the move to g.p. calendar. which is going to. have a job to do it again but it is by going to struggle we made it i know that we can be in social week but that will expected but he fired with but he got by with casey but fortunately for me they see a lot of pace and in the middle of the race on. the second beat thirty. and finally it's while they're all of us in hopes to find yourself in the guinness book of records ash has become the first fifteen to bench press an incredible seventy kilograms which is that has the story. she hasn't even entered her teens

yet money on a now member is already a sensation around the russian powerlifting scene the fifth grade school kid has a reception with a dozen world records in the sport but she took up completely by accident. i have already been bench pressing since i was ten i went with my dad to competition and during a break i decided to try and the the bar it weights twenty kilo is and i managed to lifted four times an expert saw this and said i should train as this is a rare feat the striking thing about mariana who hits the scales of sound for forty eight kilos but no one would have ever of guessed that someone so slight in build will be able to lift one and a half times her own body weight however size isn't everything and she's able to outlive girls who are much heavier or she's been recognized as a world leader in the fifteen and under age group. and yet there is no secret

behind my success my father trains me which i really like the coaches are really good and some of the best around they have trained a number of champions i'm one of them and i think they have played a big part in my development. pressing is not an olympic discipline at the moment so money on a doesn't receive any state funding one of her options is to late to change to weightlifting however such a young age no more is content to keep her options open and a farmer alexander who is also a professional branch pricer has weightlifting has its pitfalls. which are more than. weightlifting there's a lot of stress on the spine and on the knees a weight lifter can only really complete until they are twenty five to thirty because injuries will take their toll but they don't have these problems with bench pressing money on his extremely competent for a twelve year old still leads a relatively normal life hughton school there she says but boys do pick on her

mainly out of jealousy but she takes all this in her stride and she believes her amazing feats can be a message to everyone that anything is possible if one puts their mind to it. i would like to be an example for both adults and kids that if they see means a gym they will want to follow suit money on it has made some amazing achievements in her career so far our aims over the next year also are to try and bench press in excess of eighty kilos and given her rapid success and dedication one wouldn't bet against her achieving this feats and setting yet more records richard boldly dancey moscow. that was the sport for this hour coming up next we'll tell you the weather prospects where you are stay tuned. hungry for the full story we've got it for the biggest issues get a human voice face to face with the news makers on the.

world. bringing you the latest in science and technology from around the world. we've got the future covered.

worldwide manhunt for him lasted for fifteen years. one million new work was promised for a. little murder for the. materials . general distributed. syrian activists report more protested deaths as russia has the un to get signs into talks to avoid a repeat of libya's came to set. israel authorizes its special forces to shoot at

palestinian protesters as they prepared a margin support with a u.n. bid for independence caving in to prevent bloodshed. the gas impasse that ukraine backpedals aver its threat of taking russia to court to force prices moscow says it all found its ground on the already signed deal. however most could still lower gas prices if ukraine to march a state from enough to grasp with russia's gas problem or in prison twenty minutes . a very warm welcome to you this is from moscow new deaths are being reported in syria as the head of the international red cross meets the country's senior officials he's in damascus to see.