macro advisory in moscow. he said the situation for the russian currency is unique. you should not be looking at it in the same way as if there was a slide in a normally functioning economy or a european economy. the rouble is entirely managed now by the central bank in conjunction with the finance ministry, and has been since we last saw the rouble collapse down to about 130 in march of last year. so the central bank s priority last year was to keep the rouble exchange rate high at around 60, because it was tackling inflation, but this year, because of the sanctions impact and because that has led to a big hit on the value of russia s oil exports in particular, they have devalued the rouble in order to compensate for that fall in dollar terms. in other words, weaker rouble translating dollars into a higher rouble amount to balance the budget. that s been the priority this year. it doesn t reflect an imminent crisis. sort of a broad collapse in the economy. it s the result of the centr
those minimum salary should keep up with inflation this happened over the last few years. the companies have refuse that. they ve offered a 5% increase in the first year. and a package of increases that will leave our members making less in real dollar terms. not only now, in 2023 compared to 2020, but they were making less than 2026 compared to 2020. that s based on the offer that the companies have put forward. i think that, that compared to, let s face, it their ceos are not suffering from the impacts of inflation. our members really are. and it s not fair for these members who work less than they were making three or six years ago. i mean that is one example. then when we talk about a.i., it is historic only in the sense that there are no provisions protecting anyone from anything in a eye right now. anything you do in this work, it s completely unacceptable. they proposed a set of provisions that would allow them to control the likeness, the face, the voice, the body, of our membe
thank you. good to see you again, stephen. you just heard me talk about india s current place in the world, the most populous nation, a growing economy, a stable government. would you agree that india right now is in a good place? it s not in a bad place in overall terms. that is that it s a country, it has always been, i think, a country to be reckoned with on the world stage, but now it s number one in global population, it s number three in purchasing power parity terms in the overall gdp, number five in dollar terms. it s a country of some substance. it does have free and fair elections. every once in a while we sort of overturn state governments, so we haven t yet been able to overturn the central government. so it counts for a great
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