with them but not everywhere as our t. now here is 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 saying 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 card 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's 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 and where 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. relatively slowly europe may grow a little bit foster good and the us has traditionally been viewed as

a very dynamic economy is like do the grew faster than 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 and i think you are thinking of a world in which there would be a large number of relatively equal economic beings 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 wishing 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 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 the single quality 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 for problem arising ten years from now it is very important for europe to have a 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. 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 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 the corning of running surpluses but not actually appreciating against the current see that you're running a surplus with 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 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's 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 chinese 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 province 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 and 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 as we've discussed that happening that's probably going to also cause a 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 critical 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 where 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 u.s. treasury bonds i mean what's the planning commission 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 go 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 in the hall from 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 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. it'll certainly be interesting to see how affected by all of this i want to thank you so much for taking the time to talk to me thank you.

if. russia. brightened. about sun from finest impressions. please friends down totty dot com. we'll. bring you the latest inside systems technology from the realm of russia. we've got the future covered.

murder for the. national hero for minions in. general to serve in. a. mission. couldn't take three. three. three. three. three. three. three. big protests in the northwest with reports of several killed. in the un to get the warring sides to avoid

a repeat of libya's descent. special forces to shoot at palestinian protesters. support for independence. in the west bank claims the sole purpose is to prevent bloodshed. taking russia to force prices. continue a price reduction that is so far refusing to make any concession. for me in fifteen minutes from now and it seems what's going on in the world of sports with natasha. hello welcome to the latest and thanks for joining us in the headlines this hour you can look at samantha in the final preps ahead up tomorrow zero twenty as well

one apply against ireland here in moscow need to win to solidify their position and grow. there is open tennis on russia's top ranked player battles with that album makes the bold finals the second seed is still aiming to have passed major trophy. and also he's ready to defend his belt but only took the challenge as a welcome to your recently crowned w.b. champion russia's alexander still uncertain about his next opponent. and for bill as well as start as russia gearing up to take a massive step toward zero twenty twelve qualification on tuesday the group b. leaders take on the second seeded republic of violent here in moscow victory is crucial for both as slovakia and armenia are also very much in the running russia's a full of food schooled although midfielder is out for a suspension the hosts and to the time high spirits having beaten the irish three two in dublin last october. it doesn't matter who's playing for ireland even when

the under twenty one team to commit is always was and always difficult to play against but we have to think and i was so proud to do what we did there as well. and the. men while all of that coming off a nail nail draw against slovakia because it doesn't dissipate they tell think out so where a defeat could bring their qualifying hopes to announce speaking earlier on monday striker will be keen also brought up russia's three two loss last year. really well lately as the minder says control you know we have to concede to too many goals so . we've learned lessons from the game against the russian and you know in order to be taken then we enter into tomorrow's game so. i think we're fully aware. expected of what the russian is going to bring to the table. and england are also

busy getting ready to the next school to fly against wales at wembley fabio capello's men top group g. standings without a loss so falwell wales are rock bottom england where raising three nil when i was over a ball carrier in their latest match last friday but that doesn't mean the host sorry and a noncompetitive mood. to model would be a tough game because it was playing. watch of the game to play against montenegro you create a lot of chances to score go to a place. which is back at the top of the four and we'll be just kept on. now russia have finished top of group d. standings having won all of their preliminary round games at the euro basket in lithuania the latest success bombay's one point game against slovenia david plotz man snatching this sixty five sixty four victory because c.o.v. said a game. had the balls are both schools though all through to this second group stage

. tennis where on the. way is through to have passed us open called final after seeing all francesca schiavone in a lengthy three sets out on monday the seventeen seeded russian progress in five seven six three six four men while vettel. is set to face a mouth of stars who are following sunday's victory over german sabine lisicki one night over a model of efficiency on the day with sixteen winners and just eleven unforced errors struggled to match that pace losing sat a similar story in the second with closing out the six two six three victory she now meets all strelley in stanford has beaten her in several meetings. where i was able to raise the level of my game. three previous matches and i really had. started off well i. didn't like her for her in the first then she started playing a bit more consistent in the second and then. to hold my

serve then break her virtually win the match and. on the men's side of things russian involvement is now over the last of all going down to jail miller in round three defending champ and off on the d.l. meanwhile had an eventful day at flushing meadows on sunday two hour forty minutes and counting the may day hate seeing the world number two take care of down of argentina seven six six one seven five how it ended up to rafael the del now through to the fourth stage where he made love for a place in the last eight. the new york sun go to get stall on the doll and into the room off towards journalists watching on as often grabbed his leg with cramps slowly stretching out before collapsing on the floor and at all said afterwards 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. and much more straightforward afternoon for fellow time hopeful and imari the school bell which includes strongly in the six one six zero six two big trio both in the law office the clash of the last sixteen against surprise package american wild card donald young now awaits. just heard talk condition of the stars well when they're. going over. there and. you know when you can get another break. let me try to set the tone for us tonight was. when it was important goes a long you don't want to sort of the strategy for what you don't want to be beautiful for you know three four hour because it's not easy to recover. on to heavyweight boxing where the newly crowned w.b. a world champion that exams are by vatican sounds the south to the found the belt

against any top challenger the russians been speaking to reporters in moscow this monday a forty one year old american former great to have been there hala felt as among those who could reportedly go up against budget kim but the most likely candidate is the reigning undisputed champion ukrainian. cool w b a regulations dictate that the championship bout should take place within the next eighteen months meaning both sides have quite some time to prepare. certainly we're thinking over the fights with the dimmer klitschko all but before it takes place i would team needs to take a few more steps forward alexander wants to get more champions experience and we're all willing to create better conditions for such a big event because the aim is to hold this vote here in russia because. the australian rugby schools are off to neighbors new zealand with four days left before the world cup kicks off on the ninth of september and all of us hoping to add to their previous titles which date back to nine hundred ninety one and one

nine hundred ninety nine they get things started against on sunday hundreds of fans gathered in downtown st meet early on monday to say goodbye to the two time world champion is a special moment for coach robey deal with the kiwi aiming to bring the world cup back to australia. were understandably a challenge. but we're up for that in fact we're ready for the boys have been ready for it. for a few days i think. turnings been going to the club and i think their minds are in new zealand already. and finally twelve year old mighty young are now mobile soon hopes to find herself in the guinness book of records as she's become the first girl on the fifteenth of bench press an incredible seventy kilograms which is one pool for it has this 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 reset almost a dozen world records and a sport but she took up completely by accident. i have already been bench pressing since i was ten i went with my dad to a 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 herself at forty eight kilos but no one would ever of guessed that someone so slight in build will be able to lift one and a half times her own body weight however sizes and 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. bench 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 presser has weightlifting has its pitfalls. which are more than. just weightlifting it's a lot of stress on the spine and on the knees a weightlifter can only really compete until they are twenty five to thirty because injuries will take their toll you don't have these problems with bench pressing money on his extremely confident for a twelve year old still leads a relatively normal life hughton school there she says for 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 speeds and setting yet more records richard boldly dancey moscow. and that's the latest in sports for the moment bill we'll bring you the news headlines after the weather stay with r.t. . the issues that so much taxpayers' money i mean again i sit here and we'll be hearing. something to read during the great financial contraction millions watched their jobs and all but the rich of only gotten richer should the rich pay more.

more news today vaughn says once again flared up. and these are the images cold

world has been seeing from the streets of canada. giant corporations are on the day . from the student. news crew starts on t.v. dot com. the syrian forces launch their biggest protest. with reports of several kill. the u.n. to get both sides into two. special forces to shoot

a palestinian protest as they prepared to march in support of the un bid for independence to prevent bloodshed. the gas impasse between ukraine and russia with the prospect but. kiev has backpedaled on its decision to russia in order to have the two thousand. that in any case it is ready to battle it out in court join me for all the fresh details from ukraine's capital kiev. international. more deaths are being reported in syria curity forces of launch raids in the northwest protesters escaping across the border into turkey.