Which of the following countries has recently got entry in the top 20 Wealth Markets of the World ? (It is placed at 20th rank) ?->(Show Answer!)

1. Which of the following countries has recently got entry in the top 20 Wealth Markets of the World ? (It is placed at 20th rank)

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MCQ-> Read the following passage carefully and answer the questions given below it. Certain words/phrases have been printed in bold tohelp you locate them while answering some of the questions. During the last few years, a lot of hype has been heaped on the BRICS (Brazil, Russia, India, China, and South Africa). With their large populations and rapid growth, these countries, so the argument goes, will soon become some of the largest economies in the world and, in the case of China, the largest of all by as early as 2020. But the BRICS, as well as many other emerging-market economieshave recently experienced a sharp economic slowdown. So, is the honeymoon over? Brazil’s GDP grew by only 1% last year, and may not grow by more than 2% this year, with its potential growth barely above 3%. Russia’s economy may grow by barely 2% this year, with potential growth also at around 3%, despite oil prices being around $100 a barrel. India had a couple of years of strong growth recently (11.2% in 2010 and 7.7% in 2011) but slowed to 4% in 2012. China’s economy grew by 10% a year for the last three decades, but slowed to 7.8% last year and risks a hard landing. And South Africa grew by only 2.5% last year and may not grow faster than 2% this year. Many other previously fast-growing emerging-market economies – for example, Turkey, Argentina, Poland, Hungary, and many in Central and Eastern Europe are experiencing a similar slowdown. So, what is ailing the BRICS and other emerging markets? First, most emerging-market economies were overheating in 2010-2011, with growth above potential and inflation rising and exceeding targets. Many of them thus tightened monetary policy in 2011, with consequences for growth in 2012 that have carried over into this year. Second, the idea that emerging-market economies could fully decouple from economic weakness in advanced economies was farfetched : recession in the eurozone, near-recession in the United Kingdom and Japan in 2011-2012, and slow economic growth in the United States were always likely to affect emerging market performance negatively – via trade, financial links, and investor confidence. For example, the ongoing euro zone downturn has hurt Turkey and emergingmarket economies in Central and Eastern Europe, owing to trade links. Third, most BRICS and a few other emerging markets have moved toward a variant of state capitalism. This implies a slowdown in reforms that increase the private sector’s productivity and economic share, together with a greater economic role for state-owned enterprises (and for state-owned banks in the allocation of credit and savings), as well as resource nationalism, trade protectionism, import substitution industrialization policies, and imposition of capital controls. This approach may have worked at earlier stages of development and when the global financial crisis caused private spending to fall; but it is now distorting economic activity and depressing potential growth. Indeed, China’s slowdown reflects an economic model that is, as former Premier Wen Jiabao put it, “unstable, unbalanced, uncoordinated, and unsustainable,” and that now is adversely affecting growth in emerging Asia and in commodity-exporting emerging markets from Asia to Latin America and Africa. The risk that China will experience a hard landing in the next two years may further hurt many emerging economies. Fourth, the commodity super-cycle that helped Brazil, Russia, South Africa, and many other commodity-exporting emerging markets may be over. Indeed, a boom would be difficult to sustain, given China’s slowdown, higher investment in energysaving technologies, less emphasis on capital-and resource-oriented growth models around the world, and the delayed increase in supply that high prices induced. The fifth, and most recent, factor is the US Federal Reserve’s signals that it might end its policy of quantitative easing earlier than expected, and its hints of an even tual exit from zero interest rates. both of which have caused turbulence in emerging economies’ financial markets. Even before the Fed’s signals, emergingmarket equities and commodities had underperformed this year, owing to China’s slowdown. Since then, emerging-market currencies and fixed-income securities (government and corporate bonds) have taken a hit. The era of cheap or zerointerest money that led to a wall of liquidity chasing high yields and assets equities, bonds, currencies, and commodities – in emerging markets is drawing to a close. Finally, while many emerging-market economies tend to run current-account surpluses, a growing number of them – including Turkey, South Africa, Brazil, and India – are running deficits. And these deficits are now being financed in riskier ways: more debt than equity; more short-term debt than longterm debt; more foreign-currency debt than local-currency debt; and more financing from fickle cross-border interbank flows. These countries share other weaknesses as well: excessive fiscal deficits, abovetarget inflation, and stability risk (reflected not only in the recent political turmoil in Brazil and Turkey, but also in South Africa’s labour strife and India’s political and electoral uncertainties). The need to finance the external deficit and to avoid excessive depreciation (and even higher inflation) calls for raising policy rates or keeping them on hold at high levels. But monetary tightening would weaken already-slow growth. Thus, emerging economies with large twin deficits and other macroeconomic fragilities may experience further downward pressure on their financial markets and growth rates. These factors explain why growth in most BRICS and many other emerging markets has slowed sharply. Some factors are cyclical, but others – state capitalism, the risk of a hard landing in China, the end of the commodity supercycle -are more structural. Thus, many emerging markets’ growth rates in the next decade may be lower than in the last – as may the outsize returns that investors realised from these economies’ financial assets (currencies, equities. bonds, and commodities). Of course, some of the better-managed emerging-market economies will continue to experitnce rapid growth and asset outperformance. But many of the BRICS, along with some other emerging economies, may hit a thick wall, with growth and financial markets taking a serious beating.Which of the following statement(s) is/are true as per the given information in the passage ? A. Brazil’s GDP grew by only 1% last year, and is expected to grow by approximately 2% this year. B. China’s economy grew by 10% a year for the last three decades but slowed to 7.8% last year. C. BRICS is a group of nations — Barzil, Russia, India China and South Africa.....

MCQ-> Read the following passage carefully and answer the questions given below it. Certain words/phrases are given in bold to help you locate them while answering some of the questions. Core competencies and focus are now the mantras of corporate strategists in Western economies. But while managers in the West have dismantled many conglomerates assembled in the 1960s and 1970s, the large, diversified business group remains the dominant form of enterprise throughout most emerging markets. Some groups operate as holding companies with full ownership in many enterprises, others are collections of publicly traded companies, but all have some degree of central control. As emerging markets open up to global competition, consultants and foreign investors are increasingly pressuring these groups to conform to Western practice by scaling back the scope of their business activities. The conglomer-, ate is the dinosaur of organizational design, they argue, too unwieldy and slow to compete in today’s fast-paced markets. Already a number of executives have decided to break up their groups in order to show that they are focusing on only a few core businesses. There are reasons to worry about this trend. Focus is good advice in New York or London, but something important gets lost in translation when that advice is given to groups in emerging markets. Western companies take for granted a range of institutions that support their business activities, but many of these institutions are absent in other regions of the world. Without effective securities regulation and venture capital firms, for example, focused companies may be unable to raise adequate financing; and without strong educational institutions, they will struggle to hire skilled employees. Communicating with customers is difficult when the local infrastructure is poor, and unpredictable government behavior can stymie any operation. Although a focused strategy may enable a company to perform a few activities well, companies in emerging markets must take responsibility for a wide range of functions in order to do business effectively. In the case of product markets, buyers and sellers usually suffer from a severe dearth of information for three reasons. First, the communications infrastructure in emerging markets is often underdeveloped. Even as wireless communication spreads throughout the West, vast stretches in countries such as China and India remain without telephones. Power shortages often render the modes of communication that do exist ineffective. The postal service is typically inefficient, slow, or unreliable; and the private sector rarely provides efficient courier services. High rates of illiteracy make it difficult for marketers to communicate effectively with customers. Second, even when information about products does get around, there are no mechanisms to corroborate the claims made by sellers. Independent consumer-information organizations are rare, and government watchdog agencies are of little use. The few analysts who rate products are generally less sophisticated than their counterparts in advanced economies. Third, consumers have no redress mechanisms if a product does not deliver on its promise. Law enforcement is often capricious and so slow that few who assign any value to time would resort to it. Unlike in advanced markets, there are few extrajudicial arbitration mechanisms to which one can appeal. As a result of this lack of information, companies in emerging markets face much higher costs in building credible brands than their counterparts in advanced economies. In turn, established brands wield tremendous power. A conglomerate with a reputation for quality products and services can use its group name to enter new businesses, even if those businesses are completely unrelated to its current lines. Groups also have an advantage when they do try to build up a brand because they can spread the cost of maintaining it across multiple lines of business. Such groups then have a greater incentive not to damage brand quality in any one business because they will pay the price in their other businesses as well.Which of the following sentence(s) is/are correct in the context of the given passage ? I. Consultants and foreign investors argue that the conglomerate is the dinosaur of organisational design too unvvieldly and slow to compete in today’s fast-paced markets. II. Core competencies and focus are now the mantras of corporate strategists in western economies. III. Due to lack of information required, companies in emerging markets face much higher costs in building credible brands in comparison to their counterparts in advanced economies.....

MCQ-> India is rushing headlong toward economic success and modernisation, counting on high- tech industries such as information technology and biotechnology to propel the nation toprosperity. India’s recent announcement that it would no longer produce unlicensed inexpensive generic pharmaceuticals bowed to the realities of the World TradeOrganisation while at the same time challenging the domestic drug industry to compete with the multinational firms. Unfortunately, its weak higher education sector constitutes the Achilles’ Heel of this strategy. Its systematic disinvestment in higher education inrecent years has yielded neither world-class research nor very many highly trained scholars, scientists, or managers to sustain high-tech development. India’s main competitors especially China but also Singapore, Taiwan, and South Korea — are investing in large and differentiated higher education systems. They are providingaccess to large number of students at the bottom of the academic system while at the same time building some research-based universities that are able to compete with theworld’s best institutions. The recent London Times Higher Education Supplement ranking of the world’s top 200 universities included three in China, three in Hong Kong,three in South Korea, one in Taiwan, and one in India (an Indian Institute of Technology at number 41.— the specific campus was not specified). These countries are positioningthemselves for leadership in the knowledge-based economies of the coming era. There was a time when countries could achieve economic success with cheap labour andlow-tech manufacturing. Low wages still help, but contemporary large-scale development requires a sophisticated and at least partly knowledge-based economy.India has chosen that path, but will find a major stumbling block in its university system. India has significant advantages in the 21st century knowledge race. It has a large high ereducation sector — the third largest in the world in student numbers, after China andthe United States. It uses English as a primary language of higher education and research. It has a long academic tradition. Academic freedom is respected. There are asmall number of high quality institutions, departments, and centres that can form the basis of quality sector in higher education. The fact that the States, rather than the Central Government, exercise major responsibility for higher education creates a rather cumbersome structure, but the system allows for a variety of policies and approaches. Yet the weaknesses far outweigh the strengths. India educates approximately 10 per cent of its young people in higher education compared with more than half in the major industrialised countries and 15 per cent in China. Almost all of the world’s academic systems resemble a pyramid, with a small high quality tier at the top and a massive sector at the bottom. India has a tiny top tier. None of its universities occupies a solid position at the top. A few of the best universities have some excellent departments and centres, and there is a small number of outstanding undergraduate colleges. The University Grants Commission’s recent major support of five universities to build on their recognised strength is a step toward recognising a differentiated academic system and fostering excellence. At present, the world-class institutions are mainly limited to the Indian Institutes of Technology (IITs), the Indian Institutes of Management (IIMs) and perhaps a few others such as the All India Institute of Medical Sciences and the Tata Institute of Fundamental Research. These institutions, combined, enroll well under 1 percent of the student population. India’s colleges and universities, with just a few exceptions, have become large, under-funded, ungovernable institutions. At many of them, politics has intruded into campus life, influencing academic appointments and decisions across levels. Under-investment in libraries, information technology, laboratories, and classrooms makes it very difficult to provide top-quality instruction or engage in cutting-edge research.The rise in the number of part-time teachers and the freeze on new full-time appointments in many places have affected morale in the academic profession. The lackof accountability means that teaching and research performance is seldom measured. The system provides few incentives to perform. Bureaucratic inertia hampers change.Student unrest and occasional faculty agitation disrupt operations. Nevertheless, with a semblance of normality, faculty administrators are. able to provide teaching, coordinate examinations, and award degrees. Even the small top tier of higher education faces serious problems. Many IIT graduates,well trained in technology, have chosen not to contribute their skills to the burgeoning technology sector in India. Perhaps half leave the country immediately upon graduation to pursue advanced study abroad — and most do not return. A stunning 86 per cent of students in science and technology fields from India who obtain degrees in the United States do not return home immediately following their study. Another significant group, of about 30 per cent, decides to earn MBAs in India because local salaries are higher.—and are lost to science and technology.A corps of dedicated and able teachers work at the IlTs and IIMs, but the lure of jobs abroad and in the private sector make it increasingly difficult to lure the best and brightest to the academic profession.Few in India are thinking creatively about higher education. There is no field of higher education research. Those in government as well as academic leaders seem content to do the “same old thing.” Academic institutions and systems have become large and complex. They need good data, careful analysis, and creative ideas. In China, more than two-dozen higher education research centers, and several government agencies are involved in higher education policy.India has survived with an increasingly mediocre higher education system for decades.Now as India strives to compete in a globalized economy in areas that require highly trained professionals, the quality of higher education becomes increasingly important.India cannot build internationally recognized research-oriented universities overnight,but the country has the key elements in place to begin and sustain the process. India will need to create a dozen or more universities that can compete internationally to fully participate in the new world economy. Without these universities, India is destined to remain a scientific backwater.Which of the following ‘statement(s) is/are correct in the context of the given passage ? I. India has the third largest higher education sector in the world in student numbers. II. India is moving rapidly toward economic success and modernisation through high tech industries such as information technology and bitechonology to make the nation to prosperity. III. India’s systematic disinvestment in higher education in recent years has yielded world class research and many world class trained scholars, scientists to sustain high-tech development.....

MCQ-> The passage below is accompanied by a set of six questions. Choose the best answer to each question.Understanding where you are in the world is a basic survival skill, which is why we, like most species come hard-wired with specialised brain areas to create cognitive maps of our surroundings. Where humans are unique, though, with the possible exception of honeybees, is that we try to communicate this understanding of the world with others. We have a long history of doing this by drawing maps — the earliest versions yet discovered were scrawled on cave walls 14,000 years ago. Human cultures have been drawing them on stone tablets, papyrus, paper and now computer screens ever since.Given such a long history of human map-making, it is perhaps surprising that it is only within the last few hundred years that north has been consistently considered to be at the top. In fact, for much of human history, north almost never appeared at the top, according to Jerry Brotton, a map historian... "North was rarely put at the top for the simple fact that north is where darkness comes from," he says. "West is also very unlikely to be put at the top because west is where the sun disappears."Confusingly, early Chinese maps seem to buck this trend. But, Brotton, says, even though they did have compasses at the time, that isn't the reason that they placed north at the top. Early Chinese compasses were actually oriented to point south, which was considered to be more desirable than deepest darkest north. But in Chinese maps, the Emperor, who lived in the north of the country was always put at the top of the map, with everyone else, his loyal subjects, looking up towards him. "In Chinese culture the Emperor looks south because it's where the winds come from, it's a good direction. North is not very good but you are in a position of subjection to the emperor, so you look up to him," says Brotton.Given that each culture has a very different idea of who, or what, they should look up to it's perhaps not surprising that there is very little consistency in which way early maps pointed. In ancient Egyptian times the top of the world was east, the position of sunrise. Early Islamic maps favoured south at the top because most of the early Muslim cultures were north of Mecca, so they imagined looking up (south) towards it. Christian maps from the same era (called Mappa Mundi) put east at the top, towards the Garden of Eden and with Jerusalem in the centre.So when did everyone get together and decide that north was the top? It's tempting to put it down to European explorers like Christopher Columbus and Ferdinand Megellan, who were navigating by the North Star. But Brotton argues that these early explorers didn't think of the world like that at all. "When Columbus describes the world it is in accordance with east being at the top, he says. "Columbus says he is going towards paradise, so his mentality is from a medieval mappa mundi." We've got to remember, adds Brotton, that at the time, "no one knows what they are doing and where they are going."Which one of the following best describes what the passage is trying to do?
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MCQ-> Analyse the following passage and provide appropriate answers for the questions that follow: Advances in economic theory in the 1970s and 1980s illuminated the limits of markets; they showed that unfettered markets do not lead to economic efficiency whenever information is imperfect or markets are missing (for instance, good insurance markets to cover the key risks confronting individuals). And information is always imperfect and markets are always incomplete. Nor do markets, by themselves, necessarily lead to economic efficiency when the task of a country is to absorb new technology, to close the “knowledge gap”: a central feature of development. Today, most academic economists agree that markets, by themselves, do not lead to efficiency; the question is whether government can improve matters. While it is difficult for economics to perform experiments to test their theories, as a chemist or a physicist might, the world provides a vast array of natural experiments as dozens of countries try different strategies. Unfortunately, because each country differs in its history and circumstances and in the myriad of details in the policies – and details do matter – it is often difficult to get a clear interpretation. What is clear, however, is that there have been marked differences in performance, that the most successful countries have been those in Asia, and that in most of the Asian countries, government played a very active role. As we look more carefully at the effects of particular policies, these conclusions are reinforced: there is a remarkable congruence between what economic theory says government should do and what the East Asian governments actually did. By the same token, the economic theories based on imperfect information and incomplete risk markets that predicted that the free flow of short-term capital – a key feature of market fundamentalist policies – would produce not growth but instability have also been borne out.“… whether government can improve matters”. Here ‘matters’ indicates
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