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A crash course on BRICS’ New Development Bank

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Pssst. What exactly is the New Development Bank?

The bank that is being formed by the BRICS nations with its headquarters in Shanghai. It would fund long-term investment in infrastructure, projects for sustainable development and balance of payments funding.

Wait. Don’t IMF and World Bank perform the same function?

Yes they do. But the increasing demands for infrastructure and more environmentally sustainable forms of development in the emerging and developing economies are not being met by these institutions. There is an estimated deficit of investment of US$1 trillion annually. Also the BRICS nations have grown in economic importance over the years which has not been followed by a similar increase in the receptivity of their voice.

I don’t get it!

See, there has been increased South-South trade, economic cooperation and foreign aid. These countries seem to have enough pooled funds to meet there own needs and no longer need to depend, only on the IMF and World Bank and nor do they need to accept their inappropriate conditions. These institutions have refused to increase the voting share of the developing countries despite the fact that they account for half the world’s population and China alone accounts for 40% of the global growth after the collapse of the Lehman Brothers.

Like the Chang Mai Initiative Multilateralization (CMIM).

The NDB is slightly different because unlike the CMIM it has a Contingency Reserve Arrangement (CRA), that provides official liquidity in times of need, of US$100 billion which will make it independent of IMF approval and surveillance.

Oh, so that means no more American influence through these institutes.

You may be wrong about that. Although the initial capital is being contributed equally by the member states, the CRA of US$100 Billion is being financed majorly (41%) by China which is more than twice of that paid by any other country. China may choose to exercise its power due to the sheer size of its economy and use this as a platform to optimize cross-border use of the Chinese currency, especially for trade-linked transactions.

Will they be as influential and powerful as the IMF and World Bank?

The failure of these institutes in spotting and stopping the 2007-08 crisis has weakened their authority and legitimacy. No doubt the NDB will be powerful, but will it be an alternative for global development finance? It can if it makes quality loans and uses a right balance of the degree of sophistication in its financial instruments.

It sounds like everything will work out fine if they manage the risk well and coordinate their activities.

Here is the catch. The ASEAN group of Southeast Asian countries has programs, that activate currency swaps and multilateral assistance, to avert short-term monetary shortfalls of its member nations. The objectives of the NDB and institutes like ASEAN, Chinese Development bank and a similar one in Brazil. As for the ASEAN, China will gain from sidelining with Tokyo to gain influence in the region given the political tensions between them, but this will shake the existing initiatives. These facts render the functions and impact of the NDB vague.

So, If China has good intentions, so will the bank.

Devangi Agarwal

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DUB News

CAT Aspirants Alert: New CAT Pattern

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CAT (Common Admission Test) is a computer based test in India for admission to various management institutes especially the reputed and prestigious IIMs (Indian Institute of Management).

Here’s news for all CAT aspirants for the year 2014. CAT 2014, has come up with major changes in its format. The Indian Institute of Management, Indore, will be conducting the exam this year.

DATE AND CENTRE CHANGES:

The dates and the new format for the one of the most important exams for MBA are out. The exam is now scheduled for 16th and 22nd November, 2014. This is a drastic alternation from the previous pattern when CAT was held over a period of 22 days.  It has created a flurry for some students especially those who’s end term college examinations happen to fall during this period.   The applicants will be given the option to choose 3 cities for test centre. Efforts shall be made to give all aspirants their first choice.

EXAMINATION PATTERN CHANGES:

Duration of the exam: gone up from 140 minutes to 170 minutes. (2 hours 50 minutes)

Number of questions per section: increased from the existing 30 to 50.

Payment: no offline method applicable. Online payment through debit card/credit card.

The candidates have the affability to jump from one section to another as per their convenience.  However, no tutorial will be given to students regarding the examination pattern before the commencement of the exam. Hence, the students must be well-versed in the tutorials in advance.

However, there is no change in the syllabus of the exam. The candidates will be tested on the basis of four sections as usual that are: Quantitative Ability & Data Interpretation, Verbal Ability & Logical Reasoning.

The application process begins from 6th August and is open for 56 days, thus closing on 30th September. The admit cards will be put on the 16th of October and can be downloaded toll the date of examination. The results will be declared in the third week of December, 2014 as of now.

All the best, for all those taking the exam this year. Nail it!

Ishita Sharma

[email protected]

Picture Credits: techyyouth.com

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Bazinga

Bazinga: Delhi University to introduce mid day meals in colleges!

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Disclaimer: Bazinga is DU Beat’s weekly column of almost believable fake news!

After its success in government schools, the government has directed Delhi University to make its students fall in line with thalis and katoris in their hands to avail the benefits of Mid-Day Meal scheme.

“The food we served in schools was so good that children felt like they were in heaven, eating in God’s arms! In fact, some didn’t return from there! After such reviews, we decided to expand the scheme. We want DU students to feel heaven as well,” said Daalmay Kala, a senior government official.

The announcement has invited word from all corners of the University. Foreign students have expressed delight. “Delhi’s food is popular across the world! I’ve already tasted chaat from Chandni Chowk and Chole Bhature from Bengali Market. I’m sure mid-day meals will be the icing on the cake,” said a student from New York.

There would be a mid day meal break scheduled for students in all colleges in which the food will be served. In order to inculcate healthy eating habits among college students, the consumption of the meal would be compulsory for all students. There shall be proper attendance marked for the same and it’ll also account for certain percentage of internal assessment marks.

Additionally, the menu is rumoured to have been leaked. Reportedly, the only 5 items on it are Pani Puri, Bhalla Papri, Bhel Puri, Tikki and Chowmein. While one politician reiterated his belief that when girls eat Chowmein, they are calling for rape, other political wings are alleging that the sole purpose of this scheme is to make DU students sick so they can’t storm the campus and protest anymore. However, the canteen proprietors have now started a protest as the mid day meal scheme of University of Delhi is eating into the business of canteens.

Student associations have been protesting against the lack of infrastructure to support such a scheme in DU. We contacted a member of DU’s Executive Council to comment. On condition of anonymity, the member said, “DU is one step ahead of everyone. We have already found the solution to the problem. We will be directing colleges to sell off the now-waste FYUP laptops and use the money to buy plates and other utensils; alternatively they could use the technique of barter. To provide for the food, we’re obviously going to use the OBC fund.”

Disclaimer: Bazinga is DU Beat’s weekly column of almost believable fake news!

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Top Picks

Ten Bollywood movies to watch with your friends this ‘Friendship Day’

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Coming almost halfway through the Delhi monsoon, there comes an occasion which has been trending amongst the youth for a while now. A day, to remind all your fellow mates how much they mean to you, to give away friendship bands which are considered symbols of  unadulterated love and everlasting friendship.

It is also a day when all you guys who were ‘friend-zoned’ on the 14th of February can find some solace (pun intended!). Yes, friendship day is round the corner and the city will be gleaming with celebrations of all sorts. From parties to karaoke nights, from re-unions to get-togethers, we all have our plans. But for those of us who don’t, we have something for you.

Living in a ‘movie obsessed’ country where in our words,actions,behavior,fashion sense and other infinite characteristics are ‘Bollywood-inspired’, we have chosen just the right flicks for you, so that you and your friends can sit together and cherish the time well spent. Read on:

1. Dil Chahta Hai

The flare, the friendship, star cast and the music, all of it  contributes to this evergreen blockbuster, the 2001 movie that takes you back to your college days. Released in 2001 under the comedy-drama genre, marked Farhan Akhtar’s directorial excellence and also started various trends amongst the youth. The story line revolves around lives of three friends and the bond they share.Their test starts, when due to their different personalities and choices, their friendship goes through a rough patch.

dil chahta hai

This film displays a peculiar realism which somehow we can all relate to in our own ways. It takes us on a roller coaster ride of emotions, all contributing to one supreme relationship of friendship. Personally, I cant get enough of the Goa trip craziness, no matter how many times I watch the film.

2. Dostana

Enriched with over the top craziness, makes way for a laugh-riot with a feeble and sensitive subject coming into action i.e- homosexuality. Two straight guys pretend to be gay, in order to secure an apartment who’s owner happens to be a beautiful girl living with her ever conservative ‘Aunty’. Eventually, both guys fall in love with the girl.
dostana
The story complicates when she tells them that she is in love with her boss. Set up in the beach capital Miami, with glittering ‘pomp and show’ like any Karan Johar movie, this one is a good option to watch this friendship day. The movie is even more relate-able for the guy friends out there who are perhaps plotting to befriend a common girl, or are close enough to be considered romantically involved with one another in their friends lot.

3. Three Idiots

Another film showcasing Aamir Khan’s perfectionism. Not only does the movie take a dig at the present education system and exposes it’s negatives with impeccable comic timing, but it also shows the college friendship, fun and every day thrills and pressures that the youngsters experience.
The film instantly got a thumbs up from the students and set new records in the Bollywood film industry. The story starts when two friends, re-unite in search of their companion from their engineering college days, who inspired them to think differently and follow their heart, even when the society considered them to be idiots.
3 idiots
What follows is a funny cum emotional cum dramatic turn of events, nostalgia and adventure which won’t only tickle your funny bone, but leave aside a strong message which is bound to stay on your mind for days. Since the release of the movie, the songs like ‘All izz well‘  ‘Jaane nahi denge tujhe‘ and ‘Give me some sunshine‘ have been the anthems of friends in good times and times adverse.

4. Rock On

A film which takes us aboard on a musical journey.  The film’s songs sealed their positions on the chart buster list of various music portals,  months prior to and after the film’s release. The story was very well received by the audiences
rock on
Starring the new and fresh lot of actors Luke Kenny and Purab Kohli alongside Farhan Akhtar and Arjun Rampal, this is a story of four friends who were connected by music.

5. Koi Mil Gaya

This movie in particular signifies that friendship really sees no bars; no bars of age, mental aptitude, cultures, countries or language. The mentally weak charectar of Rohit mehra (played by Hrithik Roshan), his friend Nisha ( Preity Zinta) and a group of children, ten years of age, befriend an extraterrestrial creature, an alien from abouther planet. What follows is the naming of alien as ‘Jaadoo’, dancing, singing and all sorts of fun as a group.

koi mil gaya

Jaadoo transfers some of his powers to Rohit enabling him to lead a happy normal life and in return Rohit braves all odds and dangers to help Jaadoo return to his home planet. The movie is a symbol of trusting and helping each other, all what form the basics of an everlasting friendship.

6. Jaane Tu Ya Jaane Na

This film marked the debut of the blue eyed boy Imran Khan in Bollywood and was a simple story of two best friends, who take ages to realize that their friendship had turned into love. In the process, lies a circle of  various emotions and complications, which happen when one is confused and unsure about his/her feelings towards another person as both characters vow to find ‘the one’ for each other.
jaane tu
The film’s songs including ‘Kabhi Kabhi Aditi’, ‘Jaane tu ya jaane na’, ‘Nazre milana’ and Pappu can’t dance Sala’ are still loved by people alike.

7. Kuch Kuch Hota Hain

Another Karan Johar extravaganza, the film is set in the 90’s and is still a favorite amongst the mushy lovers. Starring the evergreen romantic pair of ShahRukh Khan and Kajol, the film gave way to many trends back in it’s time. It is a story of two best friends from college, separated by their individual choices and fate ,meet after years and rediscover their love, which seemed to have withered away with the passage of time.
kkhh
The movie is a treat for the forever friend-zoned guys and girls out there, your silver lining for the fact that someday Cupid might just strike.

8. Sholay

If you are a retro fan, or are just looking for a change from the usual set of movies, this has to be your choice this friendship day. Sholay in hindi means Embers and is a story of a police officer, who’s family was brutally murdered by a ruthless bandit. He recruits two cons for a heavy price to capture the bandit .
sholay
What follows is an interesting tale packed with  action, adventure and romance. This is one classic milestone in the history of the hindi film industry. The movie also gave us, one of the most beautiful melodies to celebrate the bond of friendship – ‘Ye dosti hum nahi todenge’

9. Kal Ho Na Ho

One of the most beautiful definitions of friendship, where a dying man (Shah Rukh Khan) exemplifies the meaning of true friendship and unadulterated love for Naina ( Preity Zinta) as he makes her realize her love for her best friend Rohit (Saif Ali Khan) instead. The movie’s closing lines – ‘ladki chahti hai ki use apne life partner mein ik achcha dost mile, par maine apne sabse achche dost mein apna life partner paa liya’ says a lot in itself about how this movie is a perfect representation of friendship and love.

kal ho1

10. Rang De Basanti

A film which will strike a chord with the younger lot. A story of  four young students of Delhi University, each living life carefree and enjoying their youth until they meet an English documentary filmmaker who is in India to make a film on Indian revolutionaries contributing to independence from the British Raj.
She convinces them to be a part of her documentary film. After losing a close friend, an air-force officer, in an airplane crash they discover the loop-holes in the ugly game of Indian politics and decide to take on it through their new found awareness of Indian independence.
 rangde
Alongside a strong plot, A.R Rahman’s mesmerizing  music raises the bar up even higher.  The strong friendship bond between the characters is bound to leave you teary-eyed.

With these choices of flicks handpicked by us, we wish all our readers have an amazing friendship day. Celebrate the togetherness, have fun. Happy friendship day, to all of you.

Amitoj Singh for DU Beat.

([email protected])

Gifs courtesy: www.tumblr.com

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Hindu College

Hindu college served High Court notice for scrapping ECA admissions

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On July 4 2014, Hindu college in Delhi University released its decision of doing  away with its ECA and Sports quota seats reasoning corruption in the selection as the cause. In response, Vishal Maharaj,a student has filed a plea in the High Court against this decision. In reaction the plea, the High Court has now issued a notice to Hindu college under the bench of Justice Manmohan.

According to the University guidelines ,every college mustis required to reserve  5% of its total sanctioned seats in favor of students who excel in sports and other ECA activities.

The idea to scrap out sports and ECA quota seats has not been welcomed by students all over the college. College Society presidents have termed it a ‘hurried and a thoughtless’ decision by the authorities. Mayawi, President of the Western Dance group said, “Getting good artists is not just good  for the society or the student,but it is beneficial for the college as well.”

While many believe that the decision to scrap ECA admissions is because of the alleged corruption that had emerged during the trials, the students strongly feel that removing admissions through ECA completely will not act as an antidote to the issue. “There are other ways to handle corrupt activities, that is, if there are any,” says Shashank, president of the photography society, Vivre.

Aspiring dancers, photographers, budding writers, actors, and young sportspersons have often relied on these quota seats to fulfill their dreams. To them their talent is not a frivolous topic of debate that can be started and stopped as and when someone feels like. The principal and the Vice principal of Hindu college were both unavailable for any comments.

Surbhi Sharma
[email protected]

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Humouroscope

Humouroscope: 1st- 7th Aug, 2014

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Aries: From the annual system to the semester system and then came the FYUP which was inevitably scrapped. You begin to wonder if you should be worried that the board is playing Russian roulette with the University. No worries chump, by my count, the gun still has two chambers left unfired.

Taurus: When you are caught switching to the wrong lane or travelling in the wrong direction of a ‘one-way’, just quote Robert Frost “I took the road not taken.” I can’t promise it will bail you out but if you are going to get arrested, make it savvy and sophisticated. The ladies dig sophistication.

Gemini: Notoriously infamous for eating until they are stuffed to the ‘gills’, it comes as a little surprise that they are unable to keep their heads above the ‘water’. They are most happy to ‘swim’ with the ‘tide’ no matter how ‘fishy’ things may get. Still don’t get it, Gemini? No worries, puns and ‘sonar’ travel faster ‘underwater’, no wonder you haven’t ‘caught’ it.

Cancer: You may have noticed the severe lack of birthday presents this year. Your friends have assured you that they will at least remember to wish you the next year.Hopefully.

Leo: If you add a whole bunch of letters to your horoscope, it spells ‘Leo-nardo Di Caprio’. Yeah…that’s as close as you are going to get to an achievement this week.

Virgo: Virgo is unique. Take their constellation sign for example. It depicts a woman pouring water, from a pitcher, into the river. A river is, by definition, a large stream of flowing water. Yes you guessed correctly. The word ‘Unique’ was a euphemism.

Libra:. Your smile – contagious. Your voice – melodious. Your achievements – glorious. Your jokes – hilarious. Your defining trait – extremely gullible.

Scorpio: Don’t you just hate modern cliff hangers? I mean those plots in the shows where the hero is just about to learn the truth he has been chasing the entire episode and the plots trails off onto the next season? By the way you just won 10 million dollars. Just collect your cash reward from —(to be contd.)

Sagittarius: See that police man over there? I bet you can outrun that poor guy any day of the week. Just whack his head and run like the wind. It’s going to be so cool.  Just remember to burn any trace of this paper before you try anything that I am totally not trying to talk you into.

Capricorn: Capricorns are highly childish and immature and sometimes I honestly wonder why they have not yet officially changed their sun sign to a ‘unicorn’ just because they rhyme.

Aquarius: I have found that Gemini hang on to Aquarius as if their life depended on it. I don’t have any substantial proof but it may be because the word ‘Aquarius’ comes dangerously close to the word ‘Aquarium’.

Pisces: You are bored. I am bored. So just move on to the next piece and make us both happy. Comprendé?

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Campus Central

FYUP Debacle: Confusion over Laptops!

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 and DU teacher Amitav Chakraborty in March this year, had filed a case under the RTI, questioning  the exact number of laptops purchased to be distributed to the FYUP students and the Budget Head fromwhich the funds for the laptops were taken. There was news regarding the OBC fund being used for financing the laptops. And now, there aren’t clear instructions regarding the same. The decision from the DU authorities is awaited.   Ishita Sharma ([email protected])]]>

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QWERTY

Three must have apps for freshers of DU

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There are probably hundreds of apps which appear and disappear on daily basis from the app stores. From this cluster of umpteen apps, we have selected a few; in order of their utility and convenience that will come in very handy for freshers:

 

cbronline.com EVERNOTE

Evernote

It is one of the simplest yet most useful apps introduced till date.  It helps you to save anything you might find worth remembering in the form of text note, voice reminders, to-do lists or snapshot. Subsequently, you can give your notes tags and titles and browse them whenever you wish to revisit it.  Since it can sync all your notes across the devices and apps you use, it provides you with a platform to save all your vital information. One can even search for texts inside a saved image.

Image credits: cbronline.com

 

googleplay DMRC APP

Delhi Metro Rail app

This is another user- friendly app. It helps you to search the nearest metro stations, check fare rates, and explore the Metro routes.  Besides this, it provides you with all the information about feeder buses, helpline numbers, metro museum, tourist spots near stations, parking places, travel time between stations and so on.  For those who travel by bus frequently, the Delhi Transit Bus Info makes for a handy app to check routes and tracking for GPS enabled Orange Line buses.

Image credits: play.google.com

 

trak.in SOS APP

SOS-Stay Safe

This is one of the top safety apps for girls. It can turn out to be quite a life saver in hours of need. This app can help you sends a quick SOS alert to your emergency contact list by merely shaking your cell. You can intensify your alerts by changing shake gesturers per your convenience. Another feature is that when you send in the emergency message, the battery level of the device, your location as well as a one minute audio recording is sent immediately.

Image credits: trak.in

Surbhi Sharma

[email protected]

 

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DUB Speak

One day, many stories: Eid Mubarak!

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Diwali is the festival of lights. Children go crazy with crackers all over India, happens every year. I know it’s really bad for the environment, but it’s a lot of fun.

Now, I was born in a Muslim household and still am a Muslim. So, despite my undying love for the Festival of Lights, Eid is my primary festival. So back in the day when I wasn’t as old as I am now, I always wanted to burst crackers on Eid. But there was a slight problem; I lived in Kashmir! So every time ‘little me’ wanted to light up a few hydros, dearest Ammi Jan would punch me in the face (or something on those lines), and I would be warned about the situation in Kashmir, and that me bursting a hydro would somehow be interpreted as a nuke attack by certain agencies and organizations and how that would be a great mess.

So the little heartbroken overweight me would drag myself back inside with no desire to live in this miserable world. That phase would last only from the main entrance to the kitchen because the kitchen would smell like heaven and the little me would thank God Almighty for the beautiful world and all the heavenly dishes. There’d be Yakhni  (Mutton cooked in milk and curd) for the kids, Qorma (Mutton in spicy red curry cooked in ghee) for the grown-ups and brain and kidneys for the “Pros”. Yes, I was always a Pro.

I’d sit to eat and continue till I was drenched in sweat and drowned in the guilt of my growing waistline. Right after I would have Sewian directly from the bowl, bliss!

Then I’d go around town falling in love with every Burka clad girl asking them to marry me. None of them said yes and I’m still single (or not). Also right before dusk when I’d come home after my adventures around town, the oldies in the house would call and in exchange of a few kisses and smiles give me loads of cash (Eidi). Yes, it was a beautiful world.

I did all this when I was ten years old. Okay, I still do some of this stuff (I’m 20 now). But, this Eid is really about celebrating a month of fasting (that is if you fasted). They call it ‘Meethi Eid‘ and for the entire Muslim world and my little family, this Eid is a very religious celebratory occasion which signifies the importance of the word of the almighty in Islam. How a billion people stay without food and water for hours a day for an entire month. How finally, when there is a crescent-shaped sign from heaven people finally feast. For my non-Muslim friends, it’s an excuse to come over for Biryani and Nihari. For the poor beggars outside it means new clothes and a little money. Whereas for me, I still prefer to be ten when it’s Eid.

 I can’t really tell you what Eid is really all about, because everyone has a different story. There is only one consistent – “Eid Mubarak“

Zaid Drabu

Image from Getty/ Deshakalyan Chowdhury

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Bazinga

Bazinga: Freshman disappointed; sues producers for false image of college life

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Disclaimer: Bazinga is DU Beat’s weekly column of almost believable fake news!

In an unprecedented event, a first year student of a reputed college sued Bollywood producers after he realised his college was a world apart from what he’d been seeing in movies.

“I didn’t know what to do in that place,” said Khayali Pulao, the complainant. “I spent so much money on waxing and swimming classes, but I couldn’t find a single swimming pool in my college, let alone bikini-clad girls. When I asked my seniors if I’ll be able to go to Australia and play sports, they asked me if I had lost my way. I sat in all classes, wishing I would find a teacher I could crush on. I found nothing. I even went to the library in search of love at first sight but all I saw was a panting dog sitting under the fan. Then I saw a group of students and it awoke dead hopes but my bubble burst when I realised they were protesting against lack of drinking water. I could have sold tea and contested Lok Sabha elections, or run a chole bhature joint and earned lakhs,” said Pulao.

He demands the producers compensate him with the money he’s already spent and the opportunity cost he lost by giving up the other options.

Mahesh Fatt, one of the producers who has been sued, argues that his movies are as wrong as the budgets that are presented in Parliament. This statement provoked all political parties to defend themselves. While one of the 47 panelists on a Hindi news channel demanded a CBI ‘jaanch‘, another asked when ‘Achhe din‘ for students in India will arrive.

Disclaimer: Bazinga is DU Beat’s weekly column of almost believable fake news!

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