Global Financial and Economic Crisis: Implications for Trade and Industrial Restructuring in South...

8/6/2019 Global Financial and Economic Crisis: Implications for Trade and Industrial Restructuring in South Asia

1/78

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2/78

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3/78

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; EDPVA@XNPEAD

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6/78


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~pelxcx~ zkngkmh e~ dhnh~~kvu$ Xdhlzcaulhdp chyhc e~ yhvu oemo ed lkdu naxdpveh~$9Iav hklzch# poh X^ }k~ âxpo K~ek~ lkbav hzavp `h~pedkpead /xdpec poh nve~e~%$ Ep knnaxdph` iav

adh,iaxvpo ai âxpo K~ek~ papkc hzavp~ ed 6::= /ELI 6::5%$ âxpo K~ek~ hzavp~ pa K^HKD kd` pohHX }hvh lxno ca}hv$ ^hh# iav hklzch# Knokvuk /6::5%# kd` Vkg~oep /6::5% iav Edèk$=

Iav hklzch# poh Vh~hvyh Fkdg ai Edèk ed ep~ 6::5,6:;: Kddxkc Zacenu ^pkphlhdp# vhchk~h` ad 6;Kzvec 6::5# edènkph` pokp Edèk~ M@Z mva}po ed 6::?,6::5 }axc` fh ed poh vkdmh ai 9$8,9$=(#`hnvhk~h` ival poh =( iavhnk~p ed poh Bkdxkvu 6::5 VFE zacenu vhyeh}$ Poh ~klh VFE Kddxkc Zacenu^pkphlhdp kc~a edènkph` pokp `hnhchvkpead ai mva}po }ecc nadpedxh ed 6::5,6:;: kp kvaxd` 9( }epo pohk~~xlzpead ai k davlkc lad~aad$ Iavhnk~p~ fu poh ELI kd` apohv avmkderkpead~ ad poh mva}po ai pohEdèkd hnadalu ed 6::5 kd` iacca}edm uhkv~ kvh dap èiihvhdp hepohv$ ^hh Vh~hvyh Fkdg ai Edèk/6::5%$ Poh ]avc` Fkdg ed ep~ iavhnk~p ed Lku 6::5 ~ke` hnadalen mva}po kladm poh `hyhcazedmhnadaleh~ ai K~ek# edncxèdm poa~h ed âxpo K~ek# }axc` ~ca} ed 6::5 pa ch~~ pokd okci ep~ vkph ed 6::=fhnkx~h ai ~cxlzedm `hlkd` ed Hxvazh kd` poh X^ /]avc` Fkdg 6::5f%$ Nacchnpeyhcu# poh vhmead

}axc` mva} fu 8$6( ed 6::5# à}d ival 5( ck~p uhkv kd` ;>( ed 6::=$Oa}hyhv# vhnhdp ~pkpe~pen~~oa} pokp Edèk# kcadm }epo poh Zhazch~ Vhzxfcen ai Noedk kd` Edàdh~ek# ok~ }epdh~~h` oemohv pokdhzhnph` mva}po /k~ zvabhnph` fu poh ]avc` Fkdg kd` ELI% `xvedm 6::? kd` 6::5$


7/78


>

Pkfch ;2 Nve~e~ Elzknp^pucerh` Af~hvykpead~

Ixd`klhdpkc~ Zkpphvd ^pxèh~Mva}po @hnhchvkph` ELI /6::5f%# K@F /6::5k%Pvk`h @hnhchvkph` ]PA /6::5k%# XDH^NKZ

/6::5k%#

Pvk`h zvenh Ikcchd ]PA /6::5k%Pvk`h zvaphnpead Ednvhk~h` ]PA /6::5k# 6::5f%Vhleppkdnh~ @hncedh` ]avc` Fkdg /6::5f%Iavhemd èvhnpedyh~plhdp kd`h{xepu edyh~plhdp

^ca}h` à}d ]avc` Fkdg /6::5f%#XDNPK@ /6::5%

Nallhvnekc chdèdm ^ca}h` à}d A@E /6::5%@alh~pen zva`xnpead ^ca}h` à}d ~hnpav~ /h$m$

phpech ) ncapoedm%K@F /6::5f%# K@FE /6::5%

Xdhlzcaulhdp Ednvhk~h` ECA /6::5%âxvnh~2 Nalzech` fu poh kxpoav~$

Pkfch 62 Lhvnokdè~h Hzavp~ pa K`ykdnh` Hnadaleh~

Naxdpvu ;5?; ;55; 6::; 6::6 6::> 6::0 6::8 6::9 6::= 6::? 6::5/( ai naxdpvu~ papkc hzavp~%Kimokde~pkd ;>$?= ??$:? 69$>; 65$>; 89$50 >>$;0 0:$?6 >0$8; >:$;8 >9$66 >;$??Fkdmck`h~o 00$89 =5$6= ==$>? =9$=9 ==$== ?:$65 ==$;= =?$>= =9$88 =0$5? =8$68Edèk 09$69 99$;9 9>$;6 9:$0> 8?$;6 89$60 89$8= 88$>6 8>$;8 8:$;= 09$>;Dhzkc 65$=8 5:$?; 05$5? >=$?= 06$;6 >8$69 6=$?: 6=$08 6>$>0 6:$86 6=$:0Zkge~pkd 0:$56 9?$06 98$?: 90$5= 9>$6> 90$60 85$96 8>$;5 05$96 0=$:> 00$?8^ve Ckdgk 00$8? =:$9; =5$;6 =?$68 =>$0> =>$5? =:$99 =;$69 95$55 9=$;= 9=$==

âxvnh2 ELI /6:;:%$

Poh la~p afyeax~ kvhk ai elzknp ok~ fhhd hzavp~# }oeno okyh `hncedh` ed âxpo K~ekdnaxdpveh~$?

?

^hh XDNPK@ /6::5%# @h /6::5% iav Edèk# kd` @h kd` Fokppknokvuku /6::5% iav K~ek$

Iav hklzch# Edèk~ hzavp~ pa poh HX# Bkzkd# kd` poh X^ okyh `hnvhk~h`~okvzcu /Iemxvh ;Wk\%# vh~xcpedm ed k ~okvz ikcc ed pvk`h azhddh~~ /Iemxvh ;Wf\%$ Kp poh ~klh

pelh# pohvh ok~ fhhd k ~okvz ikcc ed poh fkdg chdèdm vkph ed Edèk /Iemxvh 6Wk\%# }hkghdedmàcckv /Iemxvh 6Wf\%# k ve~h ed edickpead /Iemxvh 6Wn\%# kd` k ~phkù ikcc ed poh fx~edh~~nadie`hdnh ed`h /Iemxvh 6W`\%$ Poh ayhvkcc hnadalen ~epxkpead ed âxpo K~ek pox~ vhlked~~hveax~$ â ikv# poh `hlkd` ival k`ykdnh` hnadaleh~ iav âxpo K~ekd hzavp~ ok~`hnhchvkph`# pohvhfu za~edm k povhkp pa âxpo K~ek~ zva`xnpead# fh ep lkdxiknpxvedm av~hvyenh~$ Poe~ ~hd~epeyepu ok~ fhhd ohemophdh` fu poh hzavp,ch` mva}po ~pvkphmeh~ iacca}h`fu lkdu naxdpveh~# edncxèdm âxpo K~ekd adh~$ Pohvhiavh# ei poh nve~e~ nadpedxh~# ep e~hzhnph` pa `klkmh K~ek~ pvk`h zkpphvd kd` ~xf~h{xhdpcu ep~ zva`xnpead ~pvxnpxvh# }oeno}hvh fxecp ayhv `hnk`h~$


8/78


0

Iemxvh ;/k%2 Edèk~ Ladpocu Hzavp~ pa poh HX# Bkzkd# kd` poh X^

X^ nve~e~ ~pkvp~# Bxcu 6::=

/Ed cam ~nkch%

;?

;5

6:

6;

66

6:::l; 6::6l; 6::0l; 6::9l; 6::?l; 6:;:l;

hQx~k hQhx hQbkzkd

Daph2 HX vhzvh~hdp~ 6= lhlfhv~ ai poh Hxvazhkd Xdead$

âxvnh2 ELI /6::5k%$

Iemxvh ;/f%2 Edèk~ Ladpocu Pvk`h Azhddh~~"


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pvk`h

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6:::l; 6::6l; 6::0l; 6::9l; 6::?l; 6:;:l;/Ed cam ~nkch%

Daph2 "Pvk`h k~ zhvnhdpkmh ai M@Z$

âxvnh2 ELI /6::5k%$


9/78


8

Iemxvh 62 Ladpocu ^hveh~ ai ^hchnph` Nve~e~ Elzknp Edènkpav~

/k% Fkdg Chdèdm Vkph /f% Hnokdmh Vkph /V~ zhv X^$%


;:

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FkdgChdèdmVkph

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6:::l; 6::6l; 6::0l; 6::9l; 6::?l; 6:;:l;

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6:::l; 6::6l; 6::0l; 6::9l; 6::?l; 6:;:l;


;::

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6:::l; 6::6l; 6::0l; 6::9l; 6::?l; 6:;:l;

Daph2 "@xd kd` Fvk`~pvhhp ed`h$

âxvnh2 @vk}d fk~h` ad NHEN @kpkfk~h# oppz2!!}}}$nhen`kpk$nal /knnh~~h` = Kxmx~p 6::5%$

Ed vhckpeyh phvl~# naxdpveh~ ~xno k~ Fkdmck`h~o kd` ^ve Ckdgk kvh ceghcu pa iknh `hnhchvkpeaded pvk`h kd` ~xf~h{xhdpcu ed mva}po `xh pa k ikcc ed elzavp `hlkd` ed k`ykdnh` hnadaleh~~ednh kfaxp p}a,poev`~ ai pohev kddxkc hzavp~ okyh fhhd èvhnph` pa k`ykdnh` hnadaleh~#zhvnhdpkmh~ }oeno okyh kc~a ednvhk~h` ayhv pelh /Pkfch 6%$ Fkvvedm Kimokde~pkd kd` Dhzkc#

apohv âxpo K~ekd naxdpveh~ ~xno k~ Edèk kd` Zkge~pkd ohkyecu `hzhd` ad k`ykdnh`hnadaleh~ ~ednh kvaxd` adh,okci ai pohev mcafkc hzavp~ kvh èvhnph` pa pohl /Pkfch 6%$Nvepen~ kvmxh pokp âxpo K~ek }ecc ca~h lxno ai ep~ mcafkc hnadalen ~pvhdmpo ei ep ikec~ pahdokdnh ep~ hzavp~ kd` vhfkckdnh ep~ mva}po ~pvkphmu$

> IKCCEDM ELZAVP @HLKD@ ED K@YKDNH@ HNADALEH^KD@ ÂXPO KÊK^ H_ZAVP

Poh ikccaxp ai poh nve~e~ e~ k `hnhchvkpead ed elzavp `hlkd` ed k`ykdnh` hnadaleh~ /ELI6::5%$ K è~nx~~ead ad pvhd`~ ed elzavp~ ed k`ykdnh` hnadaleh~ }ecc ohcz x~ xd`hv~pkd`âxpo K~ek~ za~epead# zkvpenxckvcu ed poh nve~e~ zhvea`$ ]h nad~e`hv poh pvhd`~ ed ladpocu

elzavp~ ed poh X^# Bkzkd# kd` poh HX$ Pa xd`hv~pkd` poh ykvekpead~ knva~~ zva`xnp~# }hnad~pvxnp poh elzavp ed`h }epo fk~h Bxcu 6::= iav elzavp~ edpa poh X^# Bkzkd# kd` poh HX$


10/78


9

Iemxvh~ > pa 8 kd` Pkfch~ > pa 8 zvaye`h poh pvhd`~ ed elzavp~ ed povhh lkbav k`ykdnh`hnadaleh~$ Poh iacca}edm af~hvykpead~ kvh }avpo dapedm$

Iev~p# kladm poh povhh hnadaleh~# poh ikcc ed kmmvhmkph elzavp~ ok~ fhhd vkze` ed poh X^#zkvpenxckvcu ~ednh poh poev` {xkvphv ai 6::?$ Poh ~klh pvhd` ok~ kc~a nadpedxh` ed poh HX }epo~alh ykvekpead~$ Elzavp~ è` dap zeng xz xdpec Lku 6::5 ed poh X^ kd` Lkvno 6::5 ed Bkzkd#

}ohvhk~ pohvh }k~ k ~emd ai ~cemop vhnayhvu ed poh HX$^hnad`# fkvvedm iaa` kd` fhyhvkmh~ /IF%# elzavp~ ai lkbav nallaèpeh~ okyh `hncedh`~okvzcu ed poh X^ ~ednh Bxcu 6::?$ Poh ikcc ed `hlkd` ok~ fhhd }epdh~~h` ed nvx`hlkphvekc~# edhèfch hnhzp ixhc~ /NL%# k~ ep~ ed`h }hdp à}d ival ;;5$=? ed Bxcu 6::? pa9;$>5 ed Lku 6::5# `xh lkedcu pa k ikcc ed mcafkc zvenh~$ K ~eleckv pvhd` ok~ nadpedxh` }epo~alh ykvekpead~ ed apohv nallaèpeh~ ~xno k~ ledhvkc ixhc~# cxfvenkdp~ kd` vhckph` lkphvekc~7nohlenkc~ kd` vhckph` zva`xnp~7 lkdxiknpxvh` maa`~7 aiienh lknoedhvu kd` kxpalkpen `kpkzvanh~~edm h{xezlhdp7 hchnpvenkc lknoedhvu# kzzkvkpx~ kd` kzzcekdnh~7 kd` lknoedhvu kd`pvkd~zavp h{xezlhdp$ Oa}hyhv# elzavp~ ai phchnal# ~axd` vhnavèdm kd` vhzva`xnedmh{xezlhdp /P^VVH% okyh nadpvknph` vhckpeyhcu ch~~ k~ `hlkd` zengh` xz kmked ival Lkvno6::5$ Ed mhdhvkc# elzavp~ ai ledhvkc ixhc~ kd` lkdxiknpxvh` maa`~ edpa poh X^ okyh

`hncedh` ~okvzcu$Iemxvh >2 Ladpocu Elzavp Ed`h /Bxcu 6::=


11/78


=

Pkfch >2 Ladpocu Elzavp Ed`h /Bxcu 6::=$>0 5?$;8 ;:;$>; 55$>; ;:0$80 ;:9$6= ;:0$6:^hz,6::= 50$66 5=$5? 58$98 56$0: 59$:0 55$>5 ;;>$6; ;:>$=? ;:;$66Anp,6::= ;:5$9; 55$>5 ;:0$;6 ;:5$;? ;:8$?> ;:0$?5 ;>>$:? ;;:$?0 ;;8$;9Day,6::= ;:=$0? 5?$>> ;:5$8? 55$== 58$>6 55$;5 ;>9$6: ;:0$6: ;;:$9>@hn,6::= ;:0$0; 58$:; ;;:$80 59$:9 ?0$0> ;:6$=: ;:9$8= 5>$>: 55$;=Bkd,6::? ;:9$=; 50$56 ;66$;9 ;:>$=9 ?5$0> 5:$?? 50$8= 50$;0 50$;>Ihf,6::? ;:6$=> ;::$8> ;;:$5> ;;6$:? ??$08 ?8$9; ?5$?> 58$:: 5?$?5Lkv,6::? ;:=$=: ;:0$;0 ;;9$>8 ;;0$?= ?8$86 55$>9 ;::$>: 5=$55 ;:>$;8Kzv,6::? ;;:$;; ;;?$5= ;>9$;= ;;0$08 5;$;6 59$;6 ;:=$66 ;:>$6: ;:9$58Lku,6::? ;;:$58 ;66$6: ;0:$55 ;:?$5; 50$?9 5>$89 ;:?$59 ;::$>= ;:>$;6Bxd,6::? ;:=$:8 ;:?$80 ;8=$?> ;;5$6> 50$65 ;:0$:8 ;:=$;: 55$0= ;:0$:>Bxc,6::? ;:5$:; ;;5$=? ;?;$>; ;6:$:: ;:>$0; ;:8$6; ;;8$0: ;:8$6> ;:0$60Kxm,6::? ;:8$9: ;66$?= ;8?$5? ;68$8: ;::$6> 58$>; ;;>$?> ;:6$;: 55$98^hz,6::? ;:9$?> ;;=$56 ;69$68 ;;9$;6 ;:>$>0 5=$0: ;6;$98 ;:9$=8 ;:;$60Anp,6::? ;;9$9; ;:8$:: ;>:$;; ;60$:6 ;:9$:? 58$:6 ;6=$56 ;:=$60 ;:>$?5Day,6::? ;:8$;0 58$>; =?$;? 59$05 ?9$6: ?:$;: ;:9$;= ?5$>0 ?5$66@hn,6::? ;:5$59 ==$9= =;$60 ;:9$:= ==$=; ?:$98 ??$5= ?;$?6 ?>$?0Bkd,6::5 ;:;$0? ?:$?? 9:$;9 5:$0> =9$:0 95$:8 ==$68 =6$:0 95$:0Ihf,6::5 56$== 9>$:; 8;$;> ??$9: 9>$:> 9>$=8 =0$80 98$?> 90$0:Lkv,6::5 ;:9$=9 99$;9 8=$:6 ;::$58 99$?8 ==$88 ?0$>? =8$;> =>$:0Kzv,6::5 ;::$9> 9>$69 9:$5; 5?$09 90$=5 =:$?5 ?9$9= =>$:? =;$68Lku,6::5 55$5: 9;$>5 96$:8 ?8$=6 98$5= =;$55 56$6? =>$=5 95$6;

Daph~2 IF Iaa` kd` Fhyhvkmh~7 NL Nvx`h Lkphvekc~# Edhèfch hnhzp Ixhc~7 LI Ledhvkc Ixhc~# Cxfvenkdp~ kd`Vhckph` Lkphvekc~# N)Z Nohlenkc~ kd` Vhckph` Zva`xnp~7 LM Lkdxiknpxvh` Maa`~7 ALK@Z Aiienh Lknoedhvukd` Kxpalkpen @kpk Zvanh~~edm H{xezlhdp7 P^VVH Phchnall# axd` Vhnavèdm kd` Vhzva`xnedm H{xezlhdp7HLKK Hchnpvenkc Lknoedhvu# Kzzkvkpx~ kd` Kzzcekdnh~7 LPH Lknoedhvu kd` Pvkd~zavp H{xezlhdp$ Nallaèpumvaxz~ iacca}h` EPN na`h~$

âxvnh2 Nkcnxckph` fk~h` ad X^ Nhd~x~ Fxvhkx kph# kykeckfch kp NHEN @kpkfk~h# oppz2!!}}}$nhen kpk$nal/knnh~~h` = Kxmx~p 6::5%$

Iemxvh 02 Ladpocu Elzavp Ed`h /Bxcu 6::=


12/78


?

Pkfch 02 Ladpocu Elzavp Ed`h /Bxcu 6::=> ;:=$;9 5;$?8 58$9; 55$?> 56$65 ;;8$6> 5=$90

^hz,6::= ?0$;> ?=$?> ?>$?9 9;$;6 ?9$=8 ?6$;6 56$;8 ?9$5= ;:8$88 ?5$==Anp,6::= 55$?6 ;::$59 ?5$?: ;:0$60 ;:0$65 5>$95 ;;:$06 55$>; ;;>$98 ;:=$86Day,6::= ;:0$9= ;:6$?9 =5$9? ;;0$5= 58$=: 5;$0: ;:>$=5 5=$6> 5>$=> ;;>$0>@hn,6::= ;::$?= ;;:$;5 ==$6= ;>6$09 5:$8> ?5$>; 50$6; 50$;? ?9$9: ;:6$;5Bkd,6::? 56$5= ;:?$:9 ?>$6; ;6>$60 ;:;$>0 ??$?= 58$=6 59$95 56$;0 5>$58Ihf,6::? 5:$;? ;:0$88 =;$50 ;68$>6 5>$:> ?>$;> =9$88 ?8$5; =?$05 =9$66Lkv,6::? 55$69 ;:5$;0 =9$=9 ;65$85 5=$;; ?8$8? ?>$0: 59$98 5:$;? 55$6=Kzv,6::? ;:9$;0 ;:5$6? =5$8? ;68$86 58$=; ;:>$95 58$=9 ?9$=0 5=$09 ??$68

Lku,6::? ;;6$0; ;;;$5> =5$08 ;69$5= ;:>$00 ;;;$0: ?5$>8 ?=$6> ==$0; ?0$;?Bxd,6::? ;;:$55 ;60$?: 5:$=; ;08$=> ;:0$9= ;6;$>9 ?5$68 59$06 ==$:: ??$>:Bxc,6::? ;;;$>9 ;>=$?9 ?=$=9 ;=:$;0 ;;;$>; ;;>$?= 55$50 50$69 50$;5 5>$>=Kxm,6::? ;:>$=5 ;>=$9? 5:$6; ;=9$>: 58$=0 ;:0$?0 5>$>: ?=$?> ;:;$>> ?6$=9^hz,6::? ;:0$:5 ;6?$=: 59$?0 ;8>$:> ;:9$?5 ;:;$90 ;:9$98 56$8: ;;9$6= 58$55Anp,6::? ;;:$=8 ;6;$0> 5>$9? ;>5$?; ;:5$65 ;::$5; ;:5$;8 ?9$58 ;:5$58 55$?0Day,6::? 50$;= 5:$99 =>$5; 55$:; 5:$8? =?$:0 5:$86 =0$9= ?>$;= 5>$90@hn,6::? 50$0: ?6$6= 98$=9 5:$60 ?9$65 9>$5> ?9$0: 95$0> ?>$0: ?5$9?

Bkd,6::5 =?$=8 9?$8> 8=$:> 9?$?9 ?0$=8 86$6: ?9$6> 9:$96 58$96 =0$85Ihf,6::5 9?$68 80$06 >5$;5 9:$?= 90$6> >;$;? 8:$09 05$59 8=$?9 00$??Lkv,6::5 ?;$8: 85$:; 0:$0? 90$:> =6$8; >0$:: =;$8> 9>$6= 50$:5 =6$;>

Daph~2 IF Iaa` kd` Fhyhvkmh~7 NL Nvx`h Lkphvekc~# Edhèfch hnhzp Ixhc~7 LI Ledhvkc Ixhc~# Cxfvenkdp~ kd`Vhckph` Lkphvekc~# N)Z Nohlenkc~ kd` Vhckph` Zva`xnp~7 LM Lkdxiknpxvh` Maa`~7 ALK@Z Aiienh Lknoedhvukd` Kxpalkpen @kpk Zvanh~~edm H{xezlhdp7 P^VVH Phchnall# axd` Vhnavèdm kd` Vhzva`xnedm H{xezlhdp7HLKK Hchnpvenkc Lknoedhvu# Kzzkvkpx~ kd` Kzzcekdnh~7 LPH Lknoedhvu kd` Pvkd~zavp H{xezlhdp$ Nallaèpumvaxz~ iacca}h` EPN na`h~$



13/78


5

Iemxvh 82 Ladpocu Elzavp Ed`h /Bxcu 6::= 58$8? 5?$0= 55$=> 5;$;= ??$=0 =?$:0 59$;5 ;:;$8>^hz,

;:=$=6 50$5= 59$9> 59$=0 ;:>$08 ;:0$>6 ;60$>6 ;:>$?9 55$;0

Anp,6::= ;;5$== ;:5$59 ;;:$>9 ;:=$0= ;:9$09 ;:=$80 ;;8$?8 ;;0$:0 ;:>$;?Day,

59$66 50$0? ;:?$9? ;:9$?5 5>$5; 5;$8; 58$99 5?$68 56$:8

@hn,

?=$90 ??$:; ;:0$?0 ;:6$=: ?9$60 ?:$6= ==$>8 ?9$:; ?=$=?Bkd,6::? ;;;$=> ;6;$;? ;:=$;= ;:?$;0 ;;=$=; ;69$>9 ;;8$9> ;:9$55 ;;=$08

Ihf,

?=$>6 5:$>? ?5$=; ?=$:? 5=$6= 59$:6 55$89 56$00 5=$58Lkv,

;:0$0= ;::$99 ;:5$95 ;;0$:= ;:>$58 5=$0? 5?$96 ;:8$85 ?=$98

Kzv,6::? ;:9$0> ;;;$?5 ;:6$:? ;::$>: ;:8$5? ;:=$?> ;:?$8= ;:0$55 ;::$?:Lku,

;:;$89 55$58 55$?6 ;:;$59 5>$5= ;::$68 50$66 50$>? 59$=:

Bxd,6::? 59$59 ;::$9; ;:5$59 ;;0$;6 ;:6$?: 55$5; 55$>5 ;::$9: ;:?$>:

Bxc,6::? 5=$6> ;:9$86 ;;>$56 ;;>$8? ;:?$5? ;:>$55 5>$?0 ;:6$6? ;;?$66Kxm,

?5$=8 ?9$06 ??$95 ??$?; ?8$>6 ?9$66 =6$56 ?9$59 5:$;:

^hz,

;;;$5= ;;9$88 59$;= 5;$09 ;;9$=9 ;;?$55 ;0>$90 ;;8$0? ;;>$0?Anp,6::? ;:?$6= 55$:> 5;$>? ??$?8 5?$;8 5=$:; ;:>$9? ;:8$95 5?$86

Day,

58$=6 ?8$;5 ?=$?9 =9$6= 5;$>: ?:$60 ?9$09 59$;8 5:$8>@hn,

58$?= ?6$>: ?5$06 ?6$>; ?=$?6 =?$=; ?:$50 ?5$60 50$?0

Bkd,6::5 ?=$5? ?0$58 ?8$?? ?;$8; ;:;$6= ;:>$59 ;:6$0> ??$6: ;:8$?5Ihf,

5?$55 ?>$;5 ?5$5: 5>$9> 5=$?? ??$;0 ;::$;6 50$5? 50$??

Lkv,

;;0$:0 ;;:$:5 ;:9$;6 ;;0$0> ;:=$:5 ;:;$5? ;:?$9? ;;;$9= 56$5?Kzv,6::5 5=$8= 56$:> 5>$;? ;:;$9? 50$:: 58$9; 5=$88 50$08 50$0;

Lku,

50$69 50$;5 5?$9; ;:8$=> ??$96 58$66 59$:5 50$=; 5>$8;Daph~2 IF Iaa` kd` Fhyhvkmh~7 NL Nvx`h Lkphvekc~# Edhèfch hnhzp Ixhc~7 LI Ledhvkc Ixhc~# Cxfvenkdp~ kd`Vhckph` Lkphvekc~# N)Z Nohlenkc~ kd` Vhckph` Zva`xnp~7 LM Lkdxiknpxvh` Maa`~7 ALK@Z Aiienh Lknoedhvukd` Kxpalkpen @kpk Zvanh~~edm H{xezlhdp7 P^VVH Phchnall# axd` Vhnavèdm kd` Vhzva`xnedm H{xezlhdp7HLKK Hchnpvenkc Lknoedhvu# Kzzkvkpx~ kd` Kzzcekdnh~7 LPH Lknoedhvu kd` Pvkd~zavp H{xezlhdp$ Nallaèpumvaxz~ iacca}h` EPN na`h~$


14/78


;:

âxvnh2 Nkcnxckph` fk~h` ad X^ Nhd~x~ Fxvhkx kpk# kykeckfch kp NHEN @kpkfk~h# oppz2!!}}}$nhen kpk$nal/knnh~~h` = Kxmx~p 6::5%$

Pkfch 92 Ladpocu Elzavp Ed`h /Bxcu 6::== ;::$59^hz,6::= 5:$00 50$5> ??$0> 9=$90 ;:;$?= ?=$>9 55$=?Anp,6::= ;:9$60 ?9$85 ;60$95 ;;?$69 ;>:$68 ;0=$59 ;:>$89Day,6::= ?9$6: 5:$5= 5;$?: 50$9= >>0$=? 9?$?> 5;$>>@hn,6::= 56$== ;;;$=; ?0$?: ;:;$;; =8$60 58$;? ?>$9=Bkd,6::? ;:;$0; ;;0$98 ;6;$85 ;98$0? ;>?$?0 ;6?$=9 ;0:$?=Ihf,6::? 5:$== 5;$96 56$00 88$08 8;$8; ?:$== 5?$00Lkv,6::? ;6:$:9 ;:?$95 ;:=$:6 ;=:$0? ;;6$>0 ;>6$?> ;:6$;;Kzv,6::? 59$?; ?:$:; 50$05 50$8; 8?$06 ?;$0> ;::$;;Lku,6::? ;;>$5; 5>$66 ;:6$9= ?5$0? 6;8$98 ??$?0 50$00Bxd,6::? 56$?6 ;;8$50 ?8$59 ?;$:? ;95$5? ;:=$?? ;:=$66Bxc,6::? ;:6$56 ;;6$== ;;:$:8 ;:=$55 >0$6> 5=$0? ;:>$??

Kxm,6::? ;;8$;= 56$9= ;:=$8= 5;$58 6:6$6; 55$6; 5;$?8^hz,6::? ?0$;5 ;:;$>8 ;:=$=: ;;=$:8 0>$=6 ;:>$6: ;:9$96Anp,6::? ;6:$88 55$>? ;:6$:; ;6>$;> ;;9$=8 5?$=6 ;:0$=:Day,6::? ?>$0: ?9$:0 =?$>5 9;$8= >?$=9 ?;$9? ?>$;8@hn,6::? 5=$?8 ;:?$95 59$8; ;:>$65 ;56$58 ;:8$=6 5>$9?Bkd,6::5 ?>$9= ;:>$>8 55$:? ?8$:> 8?$50 ;;;$9: ;:=$8=Ihf,6::5 ;:;$=8 5:$>: ?9$>9 ?>$>; =8$0: =8$6> 5=$0?Lkv,6::5 58$56 ;:=$89 ;;6$:5 ;:?$8= ;>9$>8 ;>?$06 ;;0$=6Kzv,6::5 5?$6? 5>$?; 55$?> ;6=$8; ;5;$?: ?6$65 ?8$:8Lku,6::5 ;;8$?8 9=$8: 5;$;> ?>$09 =>$0; =;$?> 58$>=Bxd,6::5 ;:9$;5 ;;:$08 5=$>0 ?8$85 ?6$9? ;;=$9; 59$::

Daph~2 IF Iaa` kd` Fhyhvkmh~7 NL Nvx`h Lkphvekc~# Edhèfch hnhzp Ixhc~7 LI Ledhvkc Ixhc~# Cxfvenkdp~ kd`Vhckph` Lkphvekc~# N)Z Nohlenkc~ kd` Vhckph` Zva`xnp~7 LM Lkdxiknpxvh` Maa`~7 ALK@Z Aiienh Lknoedhvukd` Kxpalkpen @kpk Zvanh~~edm H{xezlhdp7 P^VVH Phchnall# axd` Vhnavèdm kd` Vhzva`xnedm H{xezlhdp7

HLKK Hchnpvenkc Lknoedhvu# Kzzkvkpx~ kd` Kzzcekdnh~7 LPH Lknoedhvu kd` Pvkd~zavp H{xezlhdp$ Nallaèpumvaxz~ iacca}h` EPN na`h~$


Poev`# Bkzkd vhzhkp~ poh pvhd`~ af~hvyh` ed poh X^$ Elzavp~ ai lhpkc~ okyh `vk~penkccu ikcchdival ;;>$?= ed Bxcu 6::? pa >0$:: ed Lkvno 6::5# poh ckvmh~p ikcc kladm poh maa`~ vhzavphòhvh$ Elzavp~ ai ed`x~pvekc ~xzzceh~ /E^%# nvx`h lkphvekc~ /NL%# ledhvkc ixhc~ /LI%# ed`x~pvekcnohlenkc~ /EN%# phpech~# nkzepkc h{xezlhdp /NH%# nad~xlhv dad`xvkfch maa`~# kd` nad~xlhv`xvkfch maa`~ /N@M% kc~a iacca}h` poh ~klh èvhnpead }epo ~alh ykvekpead~$

Iaxvpo# xdcegh poh X^ kd` Bkzkd# poh HX ok~ oemohv edpvkvhmeadkc pvk`h$ Elzavp~ fu poh HXkc~a `hncedh`# fxp poh ikcc }k~ dap ~a ~phhz$ Ed ~alh nallaèpeh~# elzavp~ va~h ed poh HX

kd` X^ ival Lkvno 6::5$Ieipo# Edèk# ^ve Ckdgk# kd` Zkge~pkd naxc` dap h~nkzh poh ~xf~h{xhdp ikcc ed pohev hzavp~ pak`ykdnh` hnadaleh~$ ]oech âxpo K~ek~ hzavp~ pa poh X^# Bkzkd# kd` poh HX okyh fhhdicxnpxkpedm kd` xd~phkù ~ednh Bxcu 6::=# pohev hzavp~ pa poh~h hnadaleh~ okyh }epdh~~h` k~okvz ikcc ~ednh poh le``ch ai poh poev` {xkvphv ai 6::? /Pkfch 9%$ Iav hklzch# Bkzkd~elzavp~ ival Zkge~pkd }hdp à}d fu ayhv 0; ed`h zaedp~ pa 8?$50 ed Bkdxkvu 6::57 poh X^~elzavp~ ival ^ve Ckdgk ihcc fu 69$> ed`h zaedp~ ed Lku 6::57 kd` poh HX~ elzavp~ ivalEdèk `hncedh` pa ?>$;8 ed Dayhlfhv 6::?$ @xh pa }hkghdedm `hlkd`# X^ elzavp~ ival`hyhcazedm âxpo K~ek nadpvknph` ed kcla~p kcc nallaèpeh~ `xvedm poh iaxvpo {xkvphv ai6::? kd` poh iev~p {xkvphv ai 6::5 /~hh Kzzhdè ;%$ Dadhpohch~~# nalzkvh` pa Lku 6::5#pohvh e~ k ~cemop nokdmh ed poh pvhd` ed Bxdh 6::5# }ohd elzavp~ ai Bkzkd# poh X^# kd` poh

HX ival poh povhh âxpo K~ekd naxdpveh~ mhdhvkccu va~h$


15/78


;;

Iedkccu# Edèk~ zva`xnpead kd` hzavp ~pvxnpxvh e~ èiihvhdp$ Ed zkvp Edèk~ a~phd~efchvh~ecehdnh ed poh iknh ai poh mcafkc nve~e~# vhichnph` ed k lxno ~lkcchv zvazavpeadkph `hncedh edep~ M@Z ed 6::? vhckpeyh pa poh Zhazch~ Vhzxfcen ai Noedk# kzzhkv~ pa fh fhnkx~h ai ep~lxno ~lkcchv hzavp `hzhd`hdnh ad lkdxiknpxvedm$ Pohvhiavh# poh ikcc ed elzavp `hlkd` edk`ykdnh` hnadaleh~ ok~ ch` pa navvh~zadèdm ikcc~ ed hzavp~ ai Edèk# Zkge~pkd# kd` ^veCkdgk ed poh nve~e~ zhvea`$ Poh ~oavp,phvl elzcenkpead ai poe~ `hncededm pvhd` ad `hyhcazedmnaxdpveh~ cegh Edèk# Zkge~pkd# kd` ^ve Ckdgk e~ zvh~xlkfcu hnadalen pxvlaec$ Ei poh nve~e~nadpedxh~# pohvh }ecc fh k `vk~pen nokdmh ed nalza~epead ai pvk`h` maa`~ kd` ~xf~h{xhdpcupohev zva`xnpead ed âxpo K~ek kd` kc~a hc~h}ohvh$ Pa k~nhvpked }ohpohv av dap ~xnonalza~epeadkc nokdmh e~ k lkpphv iav ed`x~pvekc vh~pvxnpxvedm# }h kpphlzp pa ied` axp pohnokdmh ed nalza~epead ai âxpo K~ekd naxdpveh~ zva`xnpead$ 5

0 NALZAÊPEADKC NOKDMH ED H_ZAVP^ KD@LKDXIKNPXVEDM MAA@^ ZVA@XNPEAD

Axv afbhnpeyh e~ pa ied` axp poh hiihnp ai nokdmh ed pvk`h ad poh ed`x~pvu ad zkvpenxckv

zva`xnp~$ Axv kvmxlhdp e~ }ohd k naxdpvu pvk`h~ ed èiihvhdpekph` maa`~# ep~ zva`xnpead~hnpav }ecc okyh nuncenkc cedg~ }epo poh pvk`h ~hnpav$ Poh zva`xnp nalza~epead ed pohzva`xnpead ~hnpav }ecc dhnh~~kvecu fh mxe`h` fu poh nokdmh ed nalza~epead ed pvk`h` maa`~$Pohvhiavh# }h iev~p lhk~xvh k nalza~epead nokdmh ed`h /NNE% iav pvk`h kd` ed`x~pvu$ Pohed`h pkgh~ poh iacca}edm ~okzh2

Pkfch =2 Nokdmh~ ed Hzavp Nalza~epead ed Edèk

Zhvea` /U pa U% NNE Zva`xnp~ }epo Za~epeyh Nokdmh~

Bkdxkvu 6::=Bkdxkvu 6::?

:$:98

Chkpohv kd` Chkpohv Zva`xnp~

Bxph kd` Bxph Zva`xnp~

Nohlenkc~ kd` Nohlenkc Zva`xnp~

@vxm~# Zokvlknhxpenkc~# kd` Iedh Nohlenkc~ Iaa` kd` Fhyhvkmh~

Hchnpvaden Maa`~

Lhpkc~ kd` Lhpkc Zva`xnp~

Lknoedhvu kd` H{xezlhdp

Na~lhpen~ kd` Paechpveh~

Zkzhv kd` ]aa` Zva`xnp~

Bkdxkvu 6::?Bkdxkvu 6::5 :$;0=

Vhkùlk`h Mkvlhdp~

Hchnpvaden Maa`~

Pvkd~zavp H{xezlhdp

Lkvedh Zva`xnp~


Bkdxkvu 6::=Bkdxkvu 6::5

:$;9?

Chkpohv kd` Chkpohv Zva`xnp~ Bxph kd` Bxph Zva`xnp~

@vxm~# Zokvlknhxpenkc~# kd` Iedh Nohlenkc~

Iaa` kd` Fhyhvkmh~

Hchnpvaden Maa`~

Pvkd~zavp H{xezlhdp

Lknoedhvu kd` H{xezlhdp


Bkdxkvu 6::=Ihfvxkvu 6::5 :$;;;

Vhkùlk`h Mkvlhdp~

@vxm~# Zokvlknhxpenkc~# kd` Iedh Nohlenkc~

Iaa` kd` Fhyhvkmh~

Hchnpvaden Maa`~

Pvkd~zavp H{xezlhdp Lknoedhvu kd` H{xezlhdp


Bxcu 6::?Ihfvxkvu 6::5

:$;66

Vhkùlk`h Mkvlhdp~

Mhl~ kd` Bh}hcvu

@vxm~# Zokvlknhxpenkc~# kd` IedhNohlenkc~

Iaa` kd` Fhyhvkmh~

Pvkd~zavp H{xezlhdp

Lkvedh Zva`xnp~âxvnh2 Nkcnxckph` fu poh kxpoav~$


18/78


;0

Pkfch ?2 Nokdmh~ ed Lkdxiknpxvedm Nalza~epead ed Edèk

Zhvea` /U pa U% NNE Zva`xnp~ }epo Za~epeyh Nokdmh~

Bkdxkvu 6::=

Bkdxkvu 6::?

:$:>;

Iaa` Zva`xnp~

Fhyhvkmh~# Pafknna# kd` Vhckph` Zva`xnp~

Bxph kd` Apohv Yhmhpkfch Iefhv Phpech~ /h$ nappad%

Chkpohv kd` Ixv Zva`xnp~

Fk~en Nohlenkc~ kd` Nohlenkc Zva`xnp~

Lhpkc Zva`xnp~ kd` Zkvp~ /h$ Lknoedhvu kd` H{xezlhdp%

Bkdxkvu 6::?Bkdxkvu 6::5

:$:>= Fhyhvkmh~# Pafknna# kd` Vhckph` Zva`xnp~

]aac# êcg# kd` Lkdlk`h Iefhv Phpech~


Lknoedhvu kd` H{xezlhdp /h$ Pvkd~zavp H{xezlhdp%

Bxcu 6::=Bxcu6::?

:$:>6


Phpech Zva`xnp~# Edncxèdm ]hkvedm Kzzkvhc

Fk~en Lhpkc kd` Kccau Ed`x~pveh~

Lhpkc Zva`xnp~ kd` Zkvp~ /h$ Lknoedhvu kd` H{xezlhdp%

Lknoedhvu kd` H{xezlhdp /h$ Pvkd~zavp H{xezlhdp% Pvkd~zavp H{xezlhdp kd` Zkvp~

Bkdxkvu 6::=Lku 6::5 :$:96


Bxph kd` Apohv Yhmhpkfch Iefhv Phpech~ /h$ nappad%

Phpech Zva`xnp~# Edncxèdm ]hkvedm Kzzkvhc

]aa` kd` ]aa` Zva`xnp~7 Ixvdepxvh kd` Iepxvh~



Lknoedhvu kd` H{xezlhdp /h$ Pvkd~zavp H{xezlhdp%

Bxcu 6::?Lku6::5

:$:>:


]aa` kd` ]aa` Zva`xnp~7 Ixvdepxvh kd` Iepxvh~


Vxffhv# Zhpvachxl# Zck~pen# kd` Nakc Zva`xnp~ Lknoedhvu kd` H{xezlhdp /h$ Pvkd~zavp H{xezlhdp%

Bxcu 6::?Ihfvxkvu 6::5

:$:00

Iaa` Zva`xnp~



Vxffhv# Zhpvachxl# Zck~pen# kd` Nakc Zva`xnp~

Lknoedhvu kd` H{xezlhdp /h$ Pvkd~zavp H{xezlhdp%" NNE < Nalza~epead Nokdmh Ed`h$

âxvnh2 Nkcnxckph` fu poh kxpoav~$

Poh nalza~epead nokdmh ed`h /NNE% iav pvk`h kd` ed`x~pvu ok~ fhhd nkcnxckph` iacca}edmh{xkpead~ ; kd` 6 iav Edèk fk~h` ad ladpocu `kpk ival Bkdxkvu 6::= pa Lku 6::5 iav

lkdxiknpxvedm maa`~ kd` ival Bkdxkvu 6::= pa Ihfvxkvu 6::5 iav hzavp maa`~$ NNE ~navh~iav Edèk~ hzavp~ kcadm }epo nallaèpeh~ }epo za~epeyh nokdmh kvh vhzavph` ed Pkfch =#}ohvhk~ poh ~klh ~navh~ iav lkdxiknpxvedm kvh vhzavph` ed Pkfch ?$ Poh iacca}edmaf~hvykpead~ kvh }avpo dapedm$

Iev~p# ykvekpead~ ed NNE ~navh~ ed Edèk~ hzavp~ /Pkfch =% ~xmmh~p ~oeipedm ai zva`xnp~ knva~~zhvea`~ e~ yhvu ivh{xhdp$ K nalzkve~ad fhp}hhd p}a vhckpeyhcu cadmhv pelh zaedp~ e~ ceghcu paokyh k oemohv NNE ~navh# ed nk~h ~oeipedm e~ zhvyk~eyh$ Poe~ ok~ fhhd }epdh~~h` iav pohzhvea` Bkdxkvu 6::= pa Bkdxkvu 6::5 /:$;9?%$ @xvedm Bxcu 6::? pa Ihfvxkvu 6::5# poh NNE~navh `hnvhk~h` pa :$;66# ~xmmh~pedm ~}epnoedm ai zva`xnp~$ Ayhv ;:( ai hzavp vhyhdxhnklh ival dh} zva`xnp~ av xdhyhd hzkd~ead ai ac` zva`xnp~# }ohvhk~ poh ~klh iknpav~nadpvefxph` ayhv ;8( ai hzavp vhyhdxh `xvedm Bkdxkvu 6::? pa Bkdxkvu 6::5 kd` Bkdxkvu

6::= pa Bkdxkvu 6::5$


19/78


;8

^hnad`# hzkd~ead~ ai he~pedm zva`xnp~ av nvhkpead ai dh} zva`xnp~ ival Bkdxkvu 6::= paBkdxkvu 6::5 ed Edèkd hzavp~ okyh fhhd dapenh` ed vhkùlk`h mkvlhdp~7 chkpohv kd`chkpohv zva`xnp~7 bxph kd` bxph zva`xnp~7 lknoedhvu kd` h{xezlhdp7 hchnpvaden maa`~7 `vxm~#zokvlknhxpenkc~ kd` iedh nohlenkc~7 iaa` kd` fhyhvkmh~7 pvkd~zavp h{xezlhdp7 kd`na~lhpen~ kd` paechpveh~$ Oa}hyhv# pohvh ok~ fhhd k ~lkcc nalza~epeadkc nokdmh `xvedm pohadmaedm nve~e~ zhvea` /Bxcu 6::? ad}kv`~% ed vhkùlk`h mkvlhdp~7 mhl~ kd` bh}hcvu7 `vxm~#zokvlknhxpenkc~# kd` iedh nohlenkc~7 iaa` kd` fhyhvkmh~7 pvkd~zavp h{xezlhdp7 kd` lkvedhzva`xnp~# }ohvhk~ poh apohv hzavp~ }epdh~~h` hepohv rhva av dhmkpeyh nokdmh$

Poev`# NNE ~navh~ ed Pkfch ? ~xmmh~p pokp zva`xnp ~oeipedm }k~ vhckpeyhcu ~pvadmhv `xvedm pohzhvea` Bkdxkvu 6::= pa Lku 6::5 /:$:96%# nalzkvh` pa apohv zhvea`~ nad~e`hvh` ed poe~~pxù$ Poh x~xkc nkyhkp e~ pokp poh h~pelkph` oemohv ~navh ai poh NNE e~ k~~anekph` }epocadmhv,zhvea` af~hvykpead~$ Poh ca}hv lkmdepx`h ai poh NNE knva~~ èiihvhdp nalzkvkfchzhvea`~ ed lkdxiknpxvedm kc~a nadievl~ pokp ~oeipedm ai zva`xnp~ e~ dap yhvu vkze` ed àlh~penlkdxiknpxvedm$ Ep kc~a ~xmmh~p~ nalza~epeadkc nokdmh ok~ kc}ku~ fhhd ch~~ pokd 8( edlkdxiknpxvedm ed Edèk$ Poh za~epeyh nalza~epeadkc nokdmh }k~ }epdh~~h` ed nkphmaveh~ ~xnok~ iaa` zva`xnp~7 fhyhvkmh~# pafknna# kd` vhckph` zva`xnp~7 bxph kd` apohv yhmhpkfch iefhvphpech~7 vxffhv# zhpvachxl# zck~pen# kd` nakc zva`xnp~7 chkpohv kd` ixv zva`xnp~7 kd`

lknoedhvu kd` h{xezlhdp$

Iemxvh =2 Ladpocu Pvhd`~ ed NNE /Ed`x~pvu% kd` NNE /Pvk`h%


:

$:8

$;

$;8

$6

$68

6:::l; 6::6l; 6::0l; 6::9l; 6::?l; 6:;:l;

nneQed`x~pvu nneQpvk`h


Iaxvpo# pohvh ok~ dap fhhd lxno nalza~epeadkc nokdmh ed lkdxiknpxvedm za~p,Bxcu 6::? pokplkpnoh~ Edèk~ hzavp~# hnhzp ed iaa` kd` fhyhvkmh~$ Poh nalza~epeadkc nokdmh edzva`xnp~ ed hzavp~ }k~ ~hhledmcu èiihvhdp pokd poh nalza~epeadkc nokdmh~ af~hvyh` edlkdxiknpxvedm ival Bxcu 6::? pa Ihfvxkvu 6::5$

Ieipo# poh NNE ~navh~ kc~a edènkph pokp hzavp~ ai lkdxiknpxvedm maa`~ xd`hv}hdp lavh~}hhzedm nokdmh~ ed zva`xnp nalza~epead pokd poa~h ed zva`xnpead ai lkdxiknpxvedm maa`~$Meyhd poh k`ykdpkmh ai `hzvhnekpedm nxvvhdnu# poe~ e~ dap ~xvzve~edm fhnkx~h ednhdpeyh~ kvhvhckpeyhcu oemohv ed pvk`h# apohv poedm~ fhedm h{xkc# pokd ed lkdxiknpxvedm# zkvpenxckvcu ed poh~oavp vxd$ Lavh ~}hhzedm nokdmh~ kvh pkgedm zcknh ed hzavp~ pokd lkdxiknpxvedm$ Pohladpocu kmmvhmkph NNE iav lkdxiknpxvedm kc~a nadievl~ poe~ /Iemxvh =%$ Pohvhiavh# poh hzavp~hnpav mhdhvkph~ lkbav nalzxc~ead iav k`bx~plhdp kd` vh~pvxnpxvedm$ Poh femmhv poh hzavp~hnpav# poh ckvmhv e~ poh vh~pvxnpxvedm dhh`$

êpo# nokdmh~ ed vhckpeyh zvenh~ iav pvk`h` maa`~# ed k`èpead pa nokdmh~ ed na~p~ aizva`xnpead kd` pvkd~zavpkpead# chk` pa vh~pvxnpxvedm ed zva`xnp nalza~epead# ~hvyedm àlh~penav hphvdkc `hlkd`$ Zkvp ai poh nokdmh ed zva`xnp le lku fh k dkpxvkc vh~zad~h pa nokdmh


20/78


;9

ed vhckpeyh zvenh~ }epoaxp vhavmkderedm poh zva`xnpead ~pvxnpxvh vhpaacedm ai poh zva`xnpeadphnodacamu# av vh`xnedm pvkd~zavpkpead na~p~$ Ohdnh# axv ed`h dhh`~ pa fh edphvzvhph` k~ kfvak` lhk~xvh ai vh~pvxnpxvedm ed vh~zad~h pa fapo zvenh ~emdkc~ kd` na~p iknpav~$

Iedkccu# poh kiavh~ke` kdkcu~e~ edèvhnpcu edènkph~ pokp lavh kppvepead kd` è~lkdpcedm aizva`xnp cedh~ paag zcknh kladm hzavp maa`~$ K~ pvk`h e~ x~xkccu knnalzkdeh` fu zva`xnp

vhcankpead /ival nalzhpedm elzavp~ pa poh hzavp ~hnpav%# dh} zva`xnp~ }ecc vhzcknh axpmaedmadh~# av he~pedm zva`xnp~ }ecc hzkd` pa iecc poh ~zknh chip fu vhcankpead$ Poe~ vhcankpead kd`k`bx~plhdp }ecc kc~a okyh fapo hnadalen kd` ~anekc na~p~# ei dap lkdhxyhvh` zvazhvcu$

8 ELZKNP AI MCAFKC NVEÊ^ ÔANG^ AD ED@X^PVUKD@ PVK@H

ôkvz `hnhchvkpead ed mcafkc pvk`h e~ za~edm k mvhkp nokcchdmh pa x~$ Poh {xh~pead e~# oa} }ecckd hnadalu# h~zhnekccu pokp ai k `hyhcazedm naxdpvu cegh Edèk# k`bx~p pa poh dh} hnadalennevnxl~pkdnh~ ed poh iknh ai poh mcafkc nve~e~1 ]h kzzvakno poe~ {xh~pead ed poh iacca}edm p}a}ku~$

Iev~p# }h x~h k zkdhc `kpk la`hc /Z@L% ed av`hv pa xd`hv~pkd` poh elzknp ai pvk`h kd` apohvhamhdax~ ykvekfch~ ad Edèk~ ed`x~pvekc nalza~epead$

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21/78


;=

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22/78


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23/78


;5

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27/78


6>

Iemxvh 52 Ykvekdnh @hnalza~epeadZhvnhdp Ykvekdnh ai NNE /Ed`x~pvu% /Zvh,Nve~e~% `xh pa


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28/78


60

Iemxvh ;:2 Elzxc~h Vh~zad~h ai NNE /Ed`x~pvu% /Adh ^p @hy ^oang%2 Papkc Zhvea`


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29/78


68

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30/78


69

Iemxvh ;62 Ykvekdnh @hnalza~epeadZhvnhdp Ykvekdnh ai NNE /Ed`x~pvu% /Zvh,Nve~e~% `xh pa


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31/78


6=

Iemxvh ;>2 Elzxc~h Vh~zad~h ai NNE /Ed`x~pvu% /Adh ^p @hy ^oang%2 Papkc Zhvea`


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Ykvekdnh @hnalza~epead

Zhvnhdp Ykvekdnh ai NNE /Ed`x~pvu% /Za~pnve~e~% xh pa


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32/78


6?

Iemxvh ;02 Elzxc~h Vh~zad~h ai Ed`ek~ Pvk`h,M@Z Vkpea /Adh p @hy ^oang%2 Zvh,nve~e~

Pvk`h,M@Z Vkpea Hzavp~ pa X^ Elzavp~ ival X^ X^ M@Z

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Ykvekdnh @hnalza~epeadZhvnhdp Ykvekdnh ai Pvk`h,M@Z Vkpea /Zvh,Nve~e~% xh pa


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33/78


65

Iemxvh ;82 Elzxc~h Vh~zad~h ai Ed`ek~ Pvk`h,M@Z Vkpea /Adh p @hy ^oang%2 Za~pnve~e~


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Ykvekdnh @hnalza~epeadZhvnhdp Ykvekdnh ai Pvk`h,M@Z Vkpea /Za~pnve~e~% `xh pa


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34/78


>:

Iemxvh ;92 Elzxc~h Vh~zad~h ai Ed`ek~ Pvk`h,M@Z Vkpea /Adh ^p @hy ^oang%2 Papkc Zhvea`


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Ykvekdnh @hnalza~epeadZhvnhdp Ykvekdnh ai Pvk`h,M@Z Vkpea /Papkc Zhvea`% `xh pa


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35/78


>;

Iemxvh ;=2 Elzxc~h Vh~zad~h ai Ed`ek~ Pvk`h,M@Z Vkpea /Adh p @hy ^oang%2 Zvh,Nve~e~

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36/78


>6

Iemxvh ;?2 Elzxc~h Vh~zad~h ai Ed`ek~ Pvk`h,M@Z Vkpea /Adh p @hy ^oang%2 Za~pnve~e~


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37/78


>>

Iemxvh ;52 Elzxc~h Vh~zad~h ai Ed`ek~ Pvk`h,M@Z Vkpea /Adh ^p @hy ^oang%2 Papkc Zhvea`


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38/78


>0

Iemxvh 6:2 Elzxc~h Vh~zad~h ai Ed`ek~ Pvk`h,M@Z Vkpea /Adh p @hy ^oang%2 Zvh,nve~e~

Pvk`h,M@Z Vkpea Hzavp~ pa HX Elzavp~ ival HX HX M@Z

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39/78


>8

Iemxvh 6;2 Elzxc~h Vh~zad~h ai Ed`ek~ Pvk`h,M@Z Vkpea /Adh p @hy ^oang%2 Za~pnve~e~


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40/78


>9

Iemxvh 662 Elzxc~h Vh~zad~h ai Ed`ek~ Pvk`h,M@Z Vkpea /Adh ^p @hy ^oang%2 Papkc Zhvea`


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41/78


>=

Ieipo# Edèk~ pvk`h azhddh~~ /pvk`h,M@Z vkpea% ok~ vh~zad`h` lec`cu pa poh ~oang ai hzavp~pa X^$ Iemxvh~ ;0 pa 66 zvh~hdp poh hiihnp ai hzavp~# elzavp~# kd` M@Z ai hkno naxdpvu adpoh ykvekpead ai pvk`h azhddh~~ /pvk`h,M@Z vkpea% ai Edèk `xvedm poh zvh,nve~e~# za~pnve~e~#kd` papkc zhvea`~$ Ep e~ af~hvyh` ival Iemxvh ;0 pokp poh pvk`h,M@Z vkpea ai Edèk ok~vh~zad`h` lec`cu pa poh adh ~pkd`kv` `hyekpead ~oang ai hzavp~ pa poh X^$ Oa}hyhv#

elzavp~ ival poh X^ kd` poh X^ M@Z okyh yhvu ceppch hiihnp ad poh ykvekpead ai pvk`hazhddh~~ /pvk`h,M@Z vkpea% ai Edèk$ Iemxvh ;8 ~oa}~ pokp `xvedm poh za~pnve~e~ zhvea` pohykvekdnh ai hzavp~ pa poh X^# elzavp~ ival poh X^# kd` X^ M@Z pamhpohv okyh hzckedh`kfaxp 0:( ai poh ykvekpead ai poh pvk`h,M@Z vkpea ai Edèk$ Iemxvh ;9 meyh~ poh vh~zad~h aipoh pvk`h,M@Z vkpea ai Edèk ad poh~h ykvekfch~ `xvedm poh papkc zhvea`$ Ohvh# poh vh~xcp~ kvh~eleckv pa poa~h ai poh zvh,nve~e~ zhvea`$ Poh hiihnp ai ykvekpead ai hzavp~ pa Bkzkd# elzavp~ival Bkzkd# kd` Bkzkd M@Z ad poh ykvekpead ai Edèk~ pvk`h,M@Z vkpea `xvedm poh zvh,nve~e~#za~pnve~e~# kd` papkc zhvea`~ kvh meyhd ed Iemxvh~ ;=# ;?# kd` ;5$ Ep e~ af~hvyh` pokp `xvedm pohza~pnve~e~ zhvea` kfaxp >:( ai poh ykvekpead ai pvk`h,M@Z vkpea ai Edèk e~ hzckedh` fu pohykvekpead ai hzavp~ pa Bkzkd# }oech poh iemxvh }k~ ch~~ pokd 6:( `xvedm poh zvh,nve~e~ zhvea`$Ad poh apohv okd`# ei }h nad~e`hv poh hdpevh zhvea` /Iemxvh ;5% poh ykvekpead ed hzavp~#elzavp~# kd` M@Z hzcked yhvu ceppch ai poh ykvekpead ai pvk`h,M@Z vkpea ai Edèk$ Iemxvh~ 6:#

6;# kd` 66 ~oa} poh hiihnp ai poh ykvekpead ai hzavp~ pa# elzavp~ ival# kd` M@Z ai poh HX adpoh ykvekpead ai poh pvk`h,M@Z vkpea ai Edèk iav poh p}a ~xfzhvea`~ kd` iav poh hdpevh zhvea`$Poh ykvekpead ai poh~h ykvekfch~ ok~ ceppch av da hiihnp ad poh pvk`h,M@Z vkpea ai Edèk ed fapopoh zvh, kd` poh za~pnve~e~ zhvea`~ k~ }hcc k~ iav poh papkc zhvea` k~ k }oach$

Pa nadncx`h# iedèdm~ ai poh YKV kdkcu~e~ `hlad~pvkph pokp Edèk~ pvk`h }epo poh X^#naxzch` }epo X^ M@Z# ~emdeienkdpcu nadpvefxph~ pa poh ykvekfecepu ai Edèk~ pvk`h azhddh~~ edpoh nve~e~ zhvea`# knnaxdpedm iav 0:( ai poh ykvekpead ai poh pvk`h,M@Z vkpea ai Edèk# }ohvhk~Edèk~ pvk`h }epo poh HX kd` Bkzkd kd` pohev M@Z~ okyh hepohv da hiihnp av ed~emdeienkdphiihnp ad Edèk~ pvk`h azhddh~~$

? NADNCXÊAD^ KD@ ZACENU ELZCENKPEAD^Ykvekpead~ ed NNE ~navh~ ed Edèk~ hzavp~ ~xmmh~p ~oeipedm ai zva`xnp~ knva~~ zhvea`~ e~ yhvuivh{xhdp$ Hzkd~ead~ ai he~pedm zva`xnp~ av nvhkpead ai dh} zva`xnp~ ival 6::= pa 6::5 edEdèkd hzavp~ okyh fhhd dapenh` ed vhkùlk`h mkvlhdp~7 chkpohv kd` chkpohv zva`xnp~7 bxphkd` bxph zva`xnp~7 lknoedhvu kd` h{xezlhdp7 hchnpvaden maa`~7 `vxm~# zokvlknhxpenkc~ kdìedh nohlenkc~7 iaa` kd` fhyhvkmh~7 pvkd~zavp h{xezlhdp7 kd` na~lhpen~ kd` paechpveh~$Oa}hyhv# pohvh ok~ fhhd k ~lkcc nalza~epeadkc nokdmh `xvedm poh admaedm nve~e~ zhvea`~ednh Bxcu 6::? ed vhkùlk`h mkvlhdp~7 mhl~ kd` bh}hcvu7 `vxm~# zokvlknhxpenkc~# kd` iedhnohlenkc~7 iaa` kd` fhyhvkmh~7 pvkd~zavp h{xezlhdp7 kd` lkvedh zva`xnp~# }ohvhk~ pohapohv hzavp~ }epdh~~h` hepohv rhva av dhmkpeyh nokdmh$ Poh h~pelkph` NNE ~navh~ edènkphnalza~epeadkc nokdmh ok~ kc}ku~ fhhd ch~~ pokd 8( ed poh ed`x~pvekc ~hnpav ed Edèk$ Poh

za~epeyh nalza~epeadkc nokdmh ok~ fhhd }epdh~~h` ed zva`xnp~ ~xno k~ iaa` zva`xnp~7fhyhvkmh~# pafknna# kd` vhckph` zva`xnp~7 bxph kd` apohv yhmhpkfch iefhv phpech~7 vxffhv#zhpvachxl# zck~pen# kd` nakc zva`xnp~7 chkpohv kd` ixv zva`xnp~7 kd` lknoedhvu kd`h{xezlhdp$ Pohvh ok~ dap fhhd lxno nalza~epeadkc nokdmh ed lkdxiknpxvedm za~p,Bxcu 6::?pokp lkpnoh~ Edèk~ hzavp~# hnhzp ed iaa` kd` fhyhvkmh~$

Poh NNE ~navh~ kc~a edènkph pokp hzavp~ ai lkdxiknpxvedm maa`~ xd`hv}hdp lavh ~}hhzedmnokdmh~ ed zva`xnp nalza~epead pokd poa~h ed zva`xnpead ai lkdxiknpxvedm maa`~$ Meyhd pohk`ykdpkmh ai `hzvhnekpedm nxvvhdnu# poe~ e~ dap ~xvzve~edm# fhnkx~h ednhdpeyh~ kvh vhckpeyhcuoemohv ed pvk`h# apohv poedm~ fhedm h{xkc# pokd ed lkdxiknpxvedm# zkvpenxckvcu ed poh ~oavp vxd$Lavh ~}hhzedm nokdmh~ kvh pkgedm zcknh ed poh hzavp ~hnpav pokd ed lkdxiknpxvedm$ Pohladpocu kmmvhmkph NNE iav lkdxiknpxvedm kc~a nadievl~ poe~$ Pohvhiavh# poh hzavp ~hnpav

mhdhvkph~ lkbav nalzxc~ead iav k`bx~plhdp kd` vh~pvxnpxvedm$ Poh femmhv poh hzavp ~hnpav#poh ckvmhv e~ poh vh~pvxnpxvedm dhh`$


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>?

Nokdmh~ ed vhckpeyh zvenh~ iav pvk`h` maa`~# ed k`èpead pa nokdmh~ ed na~p~ ai zva`xnpead kd`pvkd~zavpkpead# chk` pa vh~pvxnpxvedm ed zva`xnp nalza~epead# ~hvyedm àlh~pen av hphvdkc`hlkd`$ Zkvp ai poh nokdmh ed zva`xnp le lku fh k dkpxvkc vh~zad~h pa nokdmh ed vhckpeyhzvenh~ }epoaxp vhavmkderedm poh zva`xnpead ~pvxnpxvh# vhpaacedm ai poh zva`xnpead phnodacamu#av vh`xnedm pvkd~zavpkpead na~p~$ Ohdnh# axv ed`h dhh`~ pa fh edphvzvhph` k~ k fvak`lhk~xvh ai vh~pvxnpxvedm ed vh~zad~h pa fapo zvenh ~emdkc~ kd` na~p iknpav~$

Poh kdkcu~e~ nkvveh` axp ed poe~ ~pxù edèvhnpcu edènkph~ pokp lavh kppvepead kd` è~lkdpcedmai zva`xnp cedh~ paag zcknh kladm hzavp maa`~$ K~ pvk`h e~ x~xkccu knnalzkdeh` fu zva`xnpvhcankpead /ival nalzhpedm elzavp~ pa poh hzavp ~hnpav%# dh} zva`xnp~ }ecc vhzcknh axpmaedmadh~# av he~pedm zva`xnp~ }ecc hzkd` pa iecc poh yknxxl chip fu vhcankpead$ Poe~ vhcankpead kd`k`bx~plhdp }ecc kc~a okyh fapo hnadalen kd` ~anekc na~p~# ei dap mxe`h` zvazhvcu$

]oech k~~h~~edm poh elzknp ai poh mcafkc nve~e~ ad pvk`h kd` ed`x~pvu ed Edèk# poh h~pelkph`vh~xcp~ ai zkdhc `kpk la`hc~ ~oa} pokp nokdmh ed pvk`h nalza~epead e~ za~epeyhcu k~~anekph`}epo nokdmh ed lkdxiknpxvedm nalza~epead# nadpvaccedm iav apohv ykvekfch~# fxp poh h~pelkph`nahiienehdp~ kvh dap ~pkpe~penkccu ~emdeienkdp$ Oa}hyhv# pohvh e~ k za~epeyh phd`hdnu pa}kv` na,layhlhdp ai nalza~epeadkc nokdmh~ ed hzavp~ kd` ed`x~pvu$ Kcpoaxmo poh elzknp lemop fh

lec`# ikccedm hzavp~ kvh ceghcu pa kiihnp poh nalza~epeadkc nokdmh ed poh ed`x~pvekc ~hnpavdhmkpeyhcu$ Pohvhiavh# pohvh e~ da ~pvadm edènkpead pa nadievl pokp Edèk~ ed`x~pvekc ~hnpavok~ fhhd okv~ocu kiihnph` fu poh admaedm mcafkc nve~e~# fxp ep~ lec` hiihnp nkddap fh vhixph`$Poe~ kc~a ~xmmh~p~ pokp ei poh nve~e~ nadpedxh~# ed`x~pvekc vh~pvxnpxvedm }axc` fh dhh`h` pa~xzzavp poh hnadalu$ ]oech nalza~epeadkc nokdmh ed ed`x~pvu ed Edèk ok~ fhhd ~pelxckph`fu Edèk~ hzavp~ pa poh HX kd` Bkzkd# ep~ h~pelkph` zkvklhphv ok~ fhhd dhmkpeyh ed pohnk~h ai poh X^$ Poe~ lku fh fhnkx~h poh X^ e~ Edèk~ zvednezkc hzavp lkvghp kd` ep e~~hyhvhcu kiihnph` fu poh mcafkc nve~e~7 fhnkx~h pohvh kvh ~alh apohv vhk~ad~ /h$m$# è~pkdnh%}oeno poh la`hc~ ikec pa nkzpxvh7 av fhnkx~h ckvmhv è~pkdnh lkgh~ ep lavh hzhd~eyh pahzavp# ~a poh ikcc ed `hlkd` elzknp ok~ fhnalh ~pvadmhv$ Nalzkvh` pa hzavp~ pa poh X^#Edèk~ hzavp~ pa Bkzkd kd` poh HX okyh fhhd ch~~ kiihnph`$ Pohvh e~ da ~pvadm edènkpeadpokp Edèkd ed`x~pvu ok~ fhhd ~hyhvhcu okvlh` fu poh ikcc ed `hlkd` ed nve~e~,kiihnph`

k`ykdnh` hnadaleh~ cegh poh X^# poh HX# kd` Bkzkd# apohv poedm~ fhedm nad~pkdp$ Pohh~pelkph` la`hc~ kc~a ~oa} pokp zvenh ve~h ok~ èlede~oh` ed`x~pvekc nalza~epead ed Edèk$

êdnh pohvh lku fh ckm~ fhp}hhd nokdmh~ ed nalza~epead ed hzavp~ kd` ed`x~pvu# }h okyhpohvhiavh x~h` poh YKV phnode{xh pa ied` axp poh hiihnp ai poh mcafkc nve~e~ ~oang~ ad Edèk~ed`x~pvekc nalza~epeadkc nokdmh kd` poh pvk`h azhddh~~$ ]h iaxd` pokp NNE /ed`x~pvu% ok~vh~zad`h` ~emdeienkdpcu pa hzavp~ pa poh X^# Bkzkd# kd` poh HX `xvedm poh nve~e~ zhvea`$@xvedm poh zvh,nve~e~ zhvea` NNE /ed`x~pvu% è` dap vh~zad` ~emdeienkdpcu pa ~oang~ ed hzavp~pa poh X^# Bkzkd# kd` poh HX$ Oa}hyhv# `xvedm poh nve~e~ zhvea` NNE /ed`x~pvu% ok~vh~zad`h` ~emdeienkdpcu pa hzavp~ pa poh X^# Bkzkd# kd` poh HX$ Fxp poh vh~zad~h ai NNE/ed`x~pvu% pa hzavp~ pa Bkzkd kd` poh HX kvh ca}hv# nalzkvh` pa hzavp~ pa poh X^# kd` pohvh~zad~h pa ep~ a}d ~oang ok~ `hncedh` ~emdeienkdpcu `xvedm poh nve~e~ zhvea`$ Ykvekdnh

`hnalza~epead ai NNE /ed`x~pvu% vhyhkc~ pokp `xvedm poh zvh,nve~e~ zhvea` kcla~p ;::( ai pohykvekpead ed NNE /ed`x~pvu% `hzhd`~ ad ep~ a}d ykvekpead# }oech ed poh nve~e~ zhvea` kfaxp 6:(ai poh ykvekpead ed NNE /ed`x~pvu% `hzhd`~ ad poh hzavp~ pa poh HX# Bkzkd# kd` poh X^$Pox~# poh hiihnp ai ~oang~ ai Edèk~ hzavp~ pa k`ykdnh` hnadaleh~ `xvedm poh nve~e~ zhveaòk~ fhhd pvkd~lepph` pa Edèkd ed`x~pvu$

Edèkd ed`x~pvu ok~ dap vh~zad`h` ~emdeienkdpcu pa poh ~oang~ ai elzavp~ ival poh X^# Bkzkd#kd` poh HX# }oech poh vh~zad~h pa ep~ a}d ~oang~ e~ ~emdeienkdp `xvedm fapo zvh, kd`za~pnve~e~ zhvea`~$ NNE /ed`x~pvu% ok~ dap vh~zad`h` ~emdeienkdpcu pa poh ~oang~ ai elzavp~ival poh X^# Bkzkd# kd` poh HX# }oech poh vh~zad~h pa ep~ a}d ~oang~ e~ ~emdeienkdp `xvedmfapo zvh, kd` za~pnve~e~ zhvea`~$ Poh ~oang~ ed elzavp~ pa poh X^# Bkzkd# kd` poh HX okyhceppch edicxhdnh ad poh ykvekdnh ai NNE /ed`x~pvu% `xvedm zvh, kd` za~pnve~e~ zhvea`~$

Iedkccu# Edèk~ pvk`h azhddh~~ /pvk`h,M@Z vkpea% ok~ vh~zad`h` lec`cu pa poh ~oang aihzavp~ pa X^$ Oa}hyhv# elzavp~ ival poh X^ kd` poh X^ M@Z okyh yhvu ceppch hiihnp ad


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>5

Edèk~ ykvekpead ai pvk`h azhddh~~ /pvk`h,M@Z vkpea%$ Edèk~ pvk`h }epo poh X^# naxzch` }epoX^ M@Z# ~emdeienkdpcu nadpvefxph~ pa poh ykvekfecepu ai Edèk~ pvk`h azhddh~~ ed poh nve~e~zhvea`# knnaxdpedm iav 0:( ai poh ykvekpead ai poh pvk`h,M@Z vkpea ai Edèk# }ohvhk~ Edèk~pvk`h }epo ai poh HX kd` Bkzkd kd` pohev M@Z~ okyh hepohv da hiihnp av ed~emdeienkdp hiihnpad Edèk~ pvk`h azhddh~~$

Poe~ ~pxù ~xmmh~p~ pokp Edèkd ed`x~pvu ok~ dap fhhd ~emdeienkdpcu okvlh` fu poh admaedmmcafkc iedkdnekc kd` hnadalen nve~e~$ Kcpoaxmo Edèk nadpedxh~ pa hdbau ckvmh àlh~pen`hlkd`# poh nalza~epeadkc nokdmh /za~epeyh% ed lkdxiknpxvedm }axc` `hnvhk~h ei poh nve~e~nadpedxh~# vh~xcpedm ed k ~ca}à}d ed mva}po kd` k ve~h ed hnadalen ~pkmdkpead$ Poe~ }axc`kc~a nkx~h oxmh ~anekc zvafchl~ ed Edèk# zkvpenxckvcu ed poa~h hzavp ~hnpav~ }oeno kvhckfavedphd~eyh$ Pohvhiavh# pohvh e~ k dhh` iav ed`x~pvekc vh~pvxnpxvedm pa ~pvhdmpohd Edèk~yk~p lkdxiknpxvedm ~hnpav kd` mva}edm pvk`h ~hnpav# kd` kc~a iav poh mvhkphv nkx~h ai ~anekczvaphnpead kd` iav fxecèdm kd hiihnpeyh ~kihpu dhp$ Zvh~xlkfcu# apohv âxpo K~ekd naxdpveh~okyh pa iacca} ~xep$

^x~pkedh` hnadalen mva}po nkd nadpvefxph pa zayhvpu vh`xnpead$ Ed`hh`# naxdpveh~ pokp okyhhdbauh` cadm hnadalen mva}po okyh }epdh~~h` lkvgh` `hncedh~ ed zayhvpu$ Fxp k mcafkc

hnadalen nve~e~ naxc` ivx~pvkph ~xno `hyhcazlhdp$ Poh zvh~hdp nve~e~ e~ pohvhiavh {xeph}avve~alh iav poa~h naxdpveh~ }oeno kvh ohkyecu `hzhd`hdp ad hkvdedm~ ival pvk`h iav poheva}d ~anekc `hyhcazlhdp zvamvkl~$ Hyhd poaxmo naxdpveh~ nkd vhnayhv {xengcu ival pohnve~e~# pohu lku dap vhpxvd pa poh ~klh mva}po zkpo k~ fhiavh poh nve~e~# pox~ `hckuedm`hyhcazlhdp ixvpohv $ Poe~ xd`hvcedh~ ~pvadm ~anekc zacenu edepekpeyh~ ed poh hdpevh vhmead$

Ed poh iknh ai ~ceèdm }avc` `hlkd`# hiiavp~ pa vke~h zva`xnpeyepu kd` nalzhpepeyhdh~~ ohcznaxdpveh~ zvaphnp hzavp lkvghp ~okvh~$ Afyeax~cu pohvh e~ dhh` ai ixvpohv pvk`h cefhvkcerkpeaded K~ek# }oeno }ecc ~pelxckph poh pvk`h }epoed poh vhmead$ Pox~# k ~pvxnpxvkc ~oeip ed hzavp,ch`zva`xnpead ai K~ekd hnadaleh~ k}ku ival poh k`ykdnh` hnadaleh~ pa poh hlhvmedm kd`vhmeadkc lkvghp~ ed poh lhèxl pa cadm vxd e~ edhyepkfch /K`kl~ kd` Zkvg 6::5%$ Pxvdedmnve~e~ edpa azzavpxdepeh~# K~ek /edncxèdm Edèk% ~oaxc` nadpedxh }epo vhiavl~ iav ~pvhdmpohdedmvhmeadkc `hlkd` kd` ~xf~h{xhdpcu poh mcafkc `hlkd`$ K~ daph` ed Iemxvh 6># ~pvenp iedkdnekczvx`hdnh naxzch` }epo vhmeadkc `hlkd``veyhd mva}po vhfkckdnedm kvh ~xmmh~ph` lhk~xvh~iav mva}po vhnayhvu ed poh lhèxl pa cadm vxd$ Poe~ lemop kc~a meyh azzavpxdepeh~ pa hzkd`pvk`h kd` edyh~plhdp ed xdhzcavh` kd` zaphdpekccu ~pvadm lkvghp~ ed K~ek kd` fhuad`$Fokm}kpe nallhdph`2 Poh hzavp ~ca}à}d e~ k phlzavkvu zohdalhdad kd` pohvhk`bx~plhdp~ ed poh mcafkc hnadalu }axc` ~zxv hzavp~$;;

;;

Vhihv# Iedkdnekc Hzvh~~ /6::5%$

Poe~ vhled`~ x~ kfaxp poh dhhìav hzavp avehdpkpead$ K~ek }ecc nadpedxh pa hoefep poh oemoh~p mva}po# kd` ohdnh poh vhmeadkckd` edphvdkpeadkc `hlkd` }ecc edhyepkfcu ve~h# kd` ~pvhdmpohd mcafkcerkpead$


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Date post:	07-Apr-2018
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