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November 22st 2009 Issue no.

6
okonomos.imtn@gmail.com

China learning English to beat India to be third largest economy by


India? 2050: Carnegie Endowment
India will be the third largest economy in the world after
India is falling behind China in its attempts to increase the
use of English, risking squandering a key economic China and United States by 2050, a U.S. based
advantage, a new report says. internationally recognized foreign-policy think tank has
said.
A "huge shortage" of teachers and quality institutions
means China may now have more people who speak An article "The G20 in 2050", carried in November
English than India, says the study by bulletin of the Carnegie Endowment for International
the British Council,
Britain's international cultural relations Peace said, "China, India, and the United States will
body.
emerge as the world's three largest economies in 2050.
The study estimates less than five per cent of the Indian Their total GDP, in real US dollar terms, will be over 70%
population speaks English, which would mean that only more than that of the other G20 countries combined."
about 55 million people in India will be fluent English
speakers by 2010. In comparison China adds 20 million Other main findings include, China will become the
English speakers each year as a result of new education
world's largest economy in 2032, and grow to be 20%
policies that require English to be a compulsory subject in
larger than the United States by 2050. Over the next forty
primary schools. According to an earlier British Council
study, China had 200 million English users in 1995. years, nearly 60% of G20 economic growth will come
from Brazil, China, India, Russia, and Mexico alone.
India's emergence as a major software and IT hub has in
part been possible due to its English-educated workers, but The article was written by Uri Dadush and Bennett
the study says English is a "casualty of wider problems in Stancil. A Frenchman and former director of World Bank,
Indian education". "The rate of improvement in the English Dadush is the director of the International Economics
language skills of the Indian population is at present too Programme at the Foundation, and Stancil is a Fellow at
slow to prevent India from falling behind other countries the Programme.
which have implemented the teaching of English in primary
schools sooner, and more successfully," says the study,
"In China and India alone, GDP is predicted to
English Next India, written by British author David Gradoll.
increase by nearly $60 trillion--the current world
GDP-- but the wide disparity in per capita GDP
"China may already have more people who speak English
among these three will persist," they noted.
than India," it said, adding India will need many more
people speaking English to sustain its economic growth,
according to the BBC. "Poor English is one of the causes" India's annual average GDP growth between 2009-2050 is
of Indian universities falling far short of rival countries in predicted to 6.19 per cent, and these emerging markets
the quality of teaching and research. will not rise among the world's richest countries in per
The study says a range of approaches is required to capita terms- their average income in 2050 will still be
improve English proficiency in India, and no single method 40% below that of the G7 nations presently.
will help.
Air Canada begins in-flight QUIZZARD OF THE WEEK—PRACHIR GUPTA
internet service
Air Canada on Thursday unveiled its plans to offer ■ What does the slang term ‘five finger discount’
in-flight internet service. The national carrier said it mean?
has started trials from Thursday to offer internet ser-
■ How was Bert Sutcliffe and Percy Holmes’ opening
vice on select flights on its Toronto-Los Angeles and world record stand for Yorkshire commemorated-it
Montreal-Los Angeles routes. With the trial run, Air will be remembered, perhaps forever or so the story
Canada joins a few international airlines which goes?
already offer in-flight internet service. ■ In 1904 the first model-the ‘Silent Gray Fellow’-
was produced. What was it the first model of?
Passengers can access the service on their own
Answer these questions at http://spreadsheets.google.com/
laptop for $9.95 per flight or Personal Electronic viewform?hl=en&formkey=dGU2SlZvTlh3QW8yNjBIcmlmdG5TUEE6MA
Device (PED) for $7.95 per flight. In a statement, the
Montreal-based airline said trials will runs till Jan 29
when it will analyze the results and customer Answers to last week’s questions
feedback We’re
before introduction of the service on
on the Web!
● Landmark,Chennai.
example.microsoft.com
other routes. "Air Canada is the first Canadian airline
● Dollar bills.
to begin offering customers access to the internet
while they are flying,'' Louise McKenven, senior ● Singapore.
marketing director for the airline, said. She said,
"With this service, our customers will be able to
email, work and surf the net while flying, and more According
Back Page Story Headlineto the 2008-09 Status Report on India's external debt, the
country's external debt indicators remained in the 'comfortable
fully enjoy what is already a superior travel experi-
zone'. Foreign exchange reserved provided a cover of 109.5 per cent
ence that includes complimentary seatback enter- to the
This story canexternal debt
fit 175-225 stock
words. a home.
tainment and access to standard power outlets.''
If your newsletter is folded and If space is available, this is a good
mailed, this story will appear on the place to insert a clip art image or
back. So, it’s a good idea to make it some other graphic.
The airline needs to obtain regulatory approvals and
easy to read at a glance.
develop ground infrastructure for the in-flight inter-
A question and answer format is a
net service. Ron LeMay, president and CEO of Aircell
good way to quickly capture the
attention of readers. You can either
which is the world leader in airborne communication,
compile questions that you’ve re-
said, "We are very pleased to launch Gogo (the name
ceived since the last edition of your
newsletter, or you can summarize
of his company's internet
Caption describing pictureservice)
or graphic. on Air Canada, the
some generic questions that are
first Canadian airline to offer in-flight internet. frequently asked about buying or
selling a home.

"Air Canada's customers will now feel the freedomYou


of can also use this space to re-
mind readers to call you when they
having the world at their fingertips thanks to having
are thinking about buying or selling
full internet access in flight. We look forward to work-
ing with Air Canada to deliver that world to them.''
Place text here that describes any company policies or disclaimers. For example: “Each office independently owned and operated.”
The world's eighth largest airline, Air Canada oper-
ates to nearly 80 international destinations.
HAL to invest Rs 25K cr in next 10 years
Hindustan Aeronautics Ltd plans to invest more than Rs 25,000 crore in the next 10 years on the back of a strong order
pipeline and big ticket projects on the horizon.
The Chairman of the defence PSU, Ashok Nayak, said the company has an order book of more than Rs 60,000 crore.

"We have got a new order for upgrading the Jaguar once more. Fresh order for the IJT (Intermediate Jet Trainer) is
imminent ... it's under approval ... may be Rs 6,000 crore additional order. Hawk ... additional 57 - 40 for IAF and 17 for the
Navy -- they are trying to buy," he told reporters here today.

Nayak said HAL plans to invest Rs 25,000 crore, mainly through internal accruals. "We have some reserves. Some grant will
be given to each project (by the government)".

On how HAL would realise its aim of becoming a $6 billion company in 10 years, from being a $2 billion company now, he
said that "big-ticket projects" of multi-role combat aircraft, fifth generation fighter aircraft, multi-role transport aircraft and
regional transport aircraft are expected to take off in the coming years.

"So these things will bring the company to that level," Nayak said. "We hope we can do lot more outsourcing. Infrastructure
in the Indian private industry is also coming up. We would like to make use of that".

Nobel Prize for Economics

1974

Sources

http://www.reuters.com

http://www.nobelprize.org

http://www.businessworld.in

http://www.economist.com

http://www.moneymorning.com

http://www.financialexpress.com

http://economictimes.indiatimes.com