China surpasses US to become world's largest economy

December 5, 2014

Beijing, Dec 5: The US is no longer the world's largest economy, as China has overtaken the country, the International Monetary Fund (IMF) says.china over us

China now sits atop the world's economic perch, according to the IMF, which released the latest numbers for world economies by measuring purchasing power parity (PPP).

By the end of 2014, China's economic output will amount to $17.6 trillion, and the US will be demoted to the second place with a mere $17.4 trillion of output.

The Financial Times also said China's growth means it now accounts for 16.5% of the global economy in real purchasing power terms, compared to the 16.3% for the US.

The US was the world's largest economy since 1872, when it overtook Britain.

The IMF projected in early October that China's economy will be 20 percent bigger than that of the US by 2019.

China remains the biggest foreign holder of US government debt, holding an estimated $1.27 trillion in US Treasury bonds.

Earlier this year, China and Russia agreed to a measure to undercut the domination of the US dollar as the international reserve currency by paying each other in domestic currencies.

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News Network
February 19,2020

Washington, Feb 19: Sri Srinivasan, a prominent Indian-American judge, has created history by becoming the first person of South Asian descent to lead a powerful federal circuit court considered next only to the US Supreme Court.

Srinivasan, 52, became the Chief Judge of the United States Court of Appeals for the DC Circuit.

An Obama appointee who has already been considered for a Supreme Court seat twice, donned the mantle of the chief judge of the DC federal court circuit on February 12.

Srinivasan succeeded Judge Merrick Garland, who has been a member of the DC Circuit since 1997 and Chief Judge since 2013. He will remain on the bench, a press release said.

Notably, Garland's nomination to the Supreme Court by the then president Barack Obama was blocked by Senate Republicans in 2016.

Srinivasan, was appointed to the US Court of Appeals for the District of Columbia Circuit in May 2013.

He was the first ever Indian-American to be appointed to the second most powerful court of the US.

Neomi Rao, nominated by President Donald Trump, is the second Indian American on this powerful judiciary bench.

History being made on the DC Court of Appeals. Congratulations, Judge Srinivasan! Senator Mark Warner said.

Congratulations to Judge Sri Srinivasan on becoming the Chief Judge of the U.S. Court of Appeals for the D.C. Circuit! A milestone for the Indian-American/Kansan community (and yet another piece of evidence my family can use that I'm underachieving), US Federal Communications Commission Chair Ajit Pai said.

According to The Washington Post, Srinivasan spoke recently about his path to the bench at an event celebrating women in the law, a field where men still dominate leadership positions.

"Everybody doubts their belonging and worthiness in some measure. I definitely did and still do. This is just going to be a part of the thing when you're looking out in the world in which everyone isn't like you. It's natural to doubt whether you belong and whether you're worthy, he said, "but you do belong and you are worthy.

Born in Chandigarh, and raised in Lawrence, Kansas, he received a B.A. from Stanford University, a J.D. from Stanford Law School, and an M.B.A. from the Stanford Graduate School of Business.

Following graduation, he served as a law clerk to Judge J. Harvie Wilkinson III of the US Court of Appeals for the Fourth Circuit, as a Bristow Fellow in the Office of the US Solicitor General, and as a law clerk to US Supreme Court Justice Sandra Day O'Connor.

From 2011 until his appointment to the US Court of Appeals, Judge Srinivasan served as the Principal Deputy Solicitor General of the United States.

He has argued 25 cases before the US Supreme Court. He has also taught appellate advocacy at Harvard Law School as well as a seminar on civil rights statutes and the Supreme Court at Georgetown University Law Center.

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News Network
March 21,2020

United Nations, Mar 21: The UN has called on all nations to stop the use of capital punishment or put a moratorium on it, a day after four men convicted of gang-raping and murdering a 23-year-old woman were hanged in India.

Seven years after the rape and murder of the young medical student, who came to be known as 'Nirbhaya', sent shock waves across the country, the four convicts - Mukesh Singh (32), Pawan Gupta (25), Vinay Sharma (26) and Akshay Kumar Singh (31) - were hanged to death on Friday at 5.30 am in New Delhi's Tihar Jail.

Responding to the hanging, UN Secretary-General Antonio Guterres' spokesperson Stephane Dujarric said the world organisation calls on all nations to stop the use of capital punishment or put a moratorium on it.

"Our position has been clear, is that we call on all States to halt the use of capital punishment or at least put a moratorium on this," Dujarric said at the daily press briefing on Friday.

The horrific gang-rape and murder of the physiotherapy intern on December 16, 2012, who came to be known as Nirbhaya, the fearless, had seared the nation's soul and triggered countrywide outrage.

This was the first time that four men have been hanged together in Tihar Jail, South Asia's largest prison complex that houses more than 16,000 inmates.

The executions were carried out after the men exhausted every possible legal avenue to escape the gallows. Their desperate attempts only postponed the inevitable by less than two months after the first date of execution was set for January 22.

The execution of the four convicts brings the curtains down on the case that shook not just India but also the world with the details of its brutality The widespread protests subsequently paved the way for a change in India's rape laws.

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News Network
May 27,2020

Geneva, May 27: The number of confirmed cases of COVID-19 worldwide has increased by nearly 100,000 over the past 24 hours to surpass 5.4 million, the World Health Organisation (WHO) said.

According to the WHO, the global case tally currently stands at 5,404,512 -- a rise by 99,780 over the past day.

The death count worldwide amounts to 343,514 -- an increase by 1,486.

Most cases of infection are recorded in the Americas -- 2,454,452, with 143,739 deaths.

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