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7/28/2019 The Future of the World Trading System: Asian Perspectives
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G ^kxDT.kro Hkkf
Rjd Nuturd kn tjd _krlbRrgbeio Qystdc= Gsegi
Pdrspdatevds
Dbetdb hy Xeajgrb Hglbwei, Cgsgjerk Fgwgegib Ogidsjgi _eoigrgmg
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Rjd Nuturd kn tjd _krlb RrgbeioQystdc= Gsegi Pdrspdatevds
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Aditrd nkr Dakikcea Pkleay Xdsdgraj (ADPX)
Aditrd nkr Dakikcea Pkleay Xdsdgraj1rb Nlkkr?? Hgstweaf QtrddtLkibki, DA7^ 1P]TF
Rdl= +22 (0)80 ?7:1 ::07Dcgel= [email protected]_dh= www.adpr.kro
Aditrd nkr Dakikcea Pkleay Xdsdgraj, 8071
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Rjd Nuturd kn tjd _krlb Rrgbeio
Qystdc= Gsegi Pdrspdatevds
Dbetdb hy Xeajgrb Hglbwei,
Cgsgjerk Fgwge gib Ogidsjgi _eoigrgmg
g
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Aditrd nkr Dakikcea Pkleay Xdsdgraj (ADPX)
Rjd Aditrd nkr Dakikcea Pkleay Xdsdgraj es g idtwkrf kn kvdr :00 XdsdgrajNdllkws gib Gnnelegtds, hgsdb precgrely ei Durkpdgi Tievdrseteds. Rjd Aditrd
akkrbeigtds tjd rdsdgraj gateveteds kn ets Ndllkws gib Gnnelegtds gib akccu-ieagtds tjd rdsults tk tjd puhlea gib prevgtd sdatkrs. ADPX es gi ditrdprdidur,bdvdlkpeio rdsdgraj eietegtevds wetj tjd prkbuadrs, akisucdrs gib spkiskrs knrdsdgraj. Dstghlesjdb ei 75:1, ADPX es g Durkpdgi dakikceas rdsdgraj krogie-zgteki wetj uiequdly webd-rgioeio sakpd gib gateveteds.
Rjd Aditrd es plurglest gib iki-pgrtesgi, hreioeio dakikcea rdsdgraj tk hdgrki tjd giglyses kn cdbeuc- gib lkio-rui pkleay qudstekis. ADPX rdsdgraj cgyeialubd vedws ki pkleay, hut tjd Dxdautevd Akccettdd kn tjd Aditrd bkds iktoevd prekr rdvedw tk ets puhleagtekis, gib tjd Aditrd tgfds ik eistetutekigl pkleay
pksetekis. Rjd kpeiekis dxprdssdb ei tjes rdpkrt grd tjksd kn tjd gutjkrs gib ikttjksd kn tjd Aditrd nkr Dakikcea Pkleay Xdsdgraj.
Ajger kn tjd Hkgrb Ouelldrck bd lg BdjdsgPrdsebdit Xeajgrb PkrtdsAjedn Dxdautevd Knneadr Qtdpjdi UdkXdsdgraj Berdatkr Luardzeg XdeajleiPkleay Berdatkr Xeajgrb Hglbwei
Rjd Gsegi Bdvdlkpcdit Hgif Eistetutd (GBHE)
GBHE, lkagtdb ei Rkfyk, es tjd tjeif tgif kn tjd Gsegi Bdvdlkpcdit Hgif(GBH). Ets cesseki es tk ebditeny dnndatevd bdvdlkpcdit strgtdoeds gib ecprkvdbdvdlkpcdit cgigodcdit ei GBHs bdvdlkpeio cdchdr akuitreds. GBHE jgsgi dxtdisevd idtwkrf kn pgrtidrs ei tjd Gseg gib Pgaenea rdoeki gib hdykib.GBHEs gateveteds grd ouebdb hy ets tjrdd strgtdoea prekrety tjdcds kn eialusevdgib sustgeighld orkwtj, rdoekigl akkpdrgteki gib eitdorgteki, gib okvdrigiadnkr pkleaeds gib eistetutekis. Rjd kpeiekis dxprdssdb ei tjes rdpkrt grd tjksd kn
tjd gutjkrs gib bk ikt idadssgrely rdprdsdit tjd vedws kn tjd Gsegi Bdvdlkp-cdit Hgif, tjd Gsegi Bdvdlkpcdit Hgif Eistetutd (GBHE), kr tjder Hkgrb knOkvdrikrs kr tjd okvdricdits tjdy rdprdsdit.
Bdgi gib ADK Cgsgjerk FgwgeBdputy Bdgi Mgd-Jg PgrfBerdatkr kn Gbceiestrgteki,Cgigodcdit gib Akkrbeigteki Ugsurk IgretgBerdatkr kn Xdsdgraj Ogidsjgi _eoigrgmgBerdatkr kn Agpgaety Huelbeio gib Rrgeieio Uuqeio Zeio
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Akitdits
Nkrdwkrb vee
7 Eitrkbuateki 7Xeajgrb Hglbwei, Cgsgjerk Fgwge gib Ogidsjgi _eoigrgmg
8 Rjd nuturd kn tjd wkrlb trgbd systdc= Gsegi
pdrspdatevds 74Pgsagl Lgcy
Qdateki 7= Qupply Ajgeis gib Prkbuateki Idtwkrfs
1 _RK 8.0= Rjeifeio gjdgb ki olkhgl trgbd 81Xeajgrb Hglbwei
2 Rrgbd ei vglud-gbbdb= Gi Dgst Gsegi pdrspdatevd 85Qgtksje Eikcgtg
4 Xdtjeifeio tjd ecpgat kn dxajgiod rgtds ki trgbd Uuqeio Zeio
> Bk QCDs cgttdr ei Gsegi prkbuateki idtwkrfs; 24Ogidsjgi _eoigrgmg
Qdateki 8= Akccdraegl gib Eibustregl Pkleaeds
? Eiardgseio vglud nrkc olkhgl vglud ajgei pgrteaepgteki=_jgt rkld nkr eibustregl pkleay; 44Pgtreaf Lkw gib Muleg Remgmg
: Es curfy prktdatekiesc g rdgl tjrdgt tk Gsegi trgbd; >4Qecki M. Dvdidtt
5 Dxajgiod rgtd pkleay gib rdoekigl trgbd gorddcdits ?4Xeajgrb Pkcnrdt gib ^eatkr Pkiteids
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ve
Qdateki 1= Xdoekigl Rrgbd Okvdrigiad
70 Pkleay ajglldiods pksdb hy Gsegi NRGs :1Cgsgjerk Fgwge gib Ogidsjgi _eoigrgmg
77 Rjd GQDGI Dakikcea Akccuiety= Prkordss,ajglldiods gib prkspdats 57Qekw Uud Ajeg
78 Akistruateki kn XADP hy akisklebgteio GQDGI+7 NRGs 55Qjumerk Trgtg
71 GQDGI+, XADP gib RPP=G algsj kn eitdorgteki akiadpts 70?
Abrea Bupkit
Qdateki 2= Olkhgl Rrgbd Okvdrigiad
72 Rjd nuturd kn tjd _krlb Rrgbd Krogiezgteki 775Heswgmet Bjgr
74 G idw pdrspdatevd nkr tjd _krlb Rrgbd Krogiezgteki 784Rkckajefg Tygcg
7> Plurelgtdrgl gorddcdits= G veghld gltdrigtevd tk tjd_RK; 717Ceajetgfg Igfgtkce
7? Rjd agsd nkr dijgiaeio rdoekigl gib olkhgl rulds nkreivdstcdit 727]jgio Uuileio gib Xkioygi _gio
7: G cultelgtdrgl gorddcdit ki eivdstcdit= G hredn
Gldmgibrk Mgrg
75 Cultelgtdrglesgteki kn rdoekigl trgbd gorddcdits 744Xkjeie Gajgryg
80 _RK-GQDGI gsyccdtreds= Aglleio nkr ordgtdrakllghkrgteki 7>7Cgefg Ksjefgwg
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vee
Okvdrigiad kn tjd wkrlb trgbeio systdc es ei lechk. Rjd _RKs sex-bdagbd klb ckbus
kpdrgibe lgrod cultelgtdrgl idogtekis fikwi gs Xkuibs es hrkfdi. _RK rulds wdrd
lgst upbgtdb ei 7552 gib tjd aurrdit Xkuib es cerdb gntdr g bkzdi ydgrs kn tglfs. Ei gi
uikrogiesdb cgiidr, helgtdrgl, plurelgtdrgl gib rdoekigl trgbd gorddcdits jgvd tgfdi
tjd ldgb ei hreioeio trgbd besaepleids tk tjd 87st aditury. Qdvdrgl cdog-rdoekigls gib
cdog-arkss rdoekigls grd streveio tk odidrglesd tjd helgtdrgls gib rdoekigls eitk ckrd
akjdrdit rdoeki-webd kr arkss-rdoekigl grrgiodcdits. Rjd prkoikses ki tjd cdog-
rdoekigls gib arkss rdoekigls dspdaeglly tjd Rrgis-Pgaenea Pgrtidrsjep (RPP), tjd
Xdoekigl Akcprdjdisevd Dakikcea Pgrtidrsjep (XADP) gib tjd Rrgis-Gtlgitea Rrgbd
gib Eivdstcdit Pgrtidrsjep (RREP) es uialdgr.
Et es ei tjes stgtd kn nlux tjgt tjd Gsegi Bdvdlkpcdit Hgif Eistetutd ei Rkfyk tdgcdbup wetj tjd Aditrd nkr Rrgbd gib Dakikcea Eitdorgteki ei Odidvg tk jkst g twk-bgy
akindrdiad, ki tjd 77tj gib 78tj Cgraj 8071, ki Rjd Nuturd kn tjd _krlb Rrgbd Qystdc=
Gsegi Pdrspdatevds. Rjd nkaus es ki Gsegi pdrspdatevds seiad, gs _RK Berdatkr-Odidrgl
Pgsagl Lgcy put et, tjd prkhldcs ngaeio Gsegi rdoekiglesc grd g sagldb-bkwi ckbdl
kn tjd prkhldcs ngaeio tjd wkrlb. Qklutekis tjgt sckktj kut Gsegs ikkbld hkwl wkulb
glsk hd lefdly tk wkrf gt tjd olkhgl ldvdl.
Ei putteio tkodtjdr tjes aklldateki kn sjkrt ajgptdrs hgsdb ki tjd lkiodr pgpdrs prdsditdb
gt tjd Odidvg akindrdiad, Xeajgrb Hglbwei, Cgsgjerk Fgwge gib Ogidsjgi _eoigrgmg
jgvd hrkuojt tjd essuds tk tjd hrkgbdr gubediad wetj spddb gib dnneaediay. Rjdy jgvd
hddi vdry ghly suppkrtdb hy Rdgc ^kx, ei pgrteaulgr hy Giel Qjgcbgsgie. _d grd
orgtdnul tk tjdc gll.
Nkrdwkrb
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veee
Rjd Nuturd kn tjd _krlb Rrgbeio Qystdc= Gsegi Pdrspdatevds
Rjd tkpea kn tjd dHkkf es dspdaeglly tecdly oevdi tjd ajgiod ei ldgbdrsjep gt tjd
_RK. Nrkc Qdptdchdr 8071 Xkhdrtk Gzdvbk tgfds up tjd rdeis gs Berdatkr-Odidrgl.Akitrehutkrs tk tjes dHkkf prkvebd ghuibgit giglyses gib suoodstekis nkr jkw tjd idw
Berdatkr-Odidrgl akulb gbbrdss tjd idw ajglldiods.
^ev Bgveds Cgsgjerk Fgwge
Ajedn Kpdrgteio Knneadr, ADPX Bdgi gib ADK, GBHE
77 Muid 8071
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7
Xeajgrb Hglbwei, Cgsgjerk Fgwge gibOgidsjgi _eoigrgmgOrgbugtd Eistetutd, Odidvg gib ADPX6 Gsegi Bdvdlkpcdit Hgif Eistetutd, Rkfyk6
Gsegi Bdvdlkpcdit Hgif Eistetutd, Rkfyk
_jgt tjes dHkkf es ghkut
Rjd wkrlb trgbeio systdc es ei g stgtd kn nlux ajgrgatdresdb hy idw bdvdlkpcdits gib
uiadrtgeiteds ghkut ets okvdrigiad. Nuibgcditgl ajgiods grd kaaurreio hdagusd kn tjd
resd kn dcdroeio dakikceds, suaj gs tjd HXEAQ, gib tjd dxpgiseki kn tjder trgbd gib
nkrdeoi berdat eivdstcdit (NBE), gib glsk tjd prklendrgteki kn nrdd trgbd gorddcdits
(NRGs) olkhglly. Kvdr tjd lgst tjrdd bdagbds, trgbd gib NBE jgvd orkwi rgpebly ei Gseggib rdoekigl trgbd gib eivdstcdit eitdorgteki jgs bddpdidb, wjeaj jgs akitrehutdb tk
sustgeidb orkwtj gib ecprkvdcdit ei pdkplds levdlejkkbs.
Rrgbd gib rdoekigl eitdorgteki grd lefdly tk einludiad Gsegs nuturd orkwtj, wetj skcd
prdbeateio tjgt tjd rdoeki well gaakuit nkr kvdr jgln kn wkrlb OBP hy 8040. _etj tjd
akiteiueio stgldcgtd ei tjd Bkjg Xkuib trgbd tglfs, tjd ardbehelety kn ruld-cgfeio ki
trgbd ei tjd _RK es uibdr eitdisd saruteiy gib NRGs gppdgr tk hd dcdroeio gs tjd
prdndrrdb gltdrigtevd. Rjd igturd kn tjdsd bdvdlkpcdits jgs prkcptdb g bdhgtd ki tjd
nuturd kn tjd wkrlb trgbeio systdc gib tjd rulds okvdrieio trgbd.
Rjd dssgys ei tjes ^kxDT dHkkf, wrettdi hy ldgbeio Gsegi gib eitdrigtekigl trgbd
dxpdrts, akibuat g hrkgb gib akcprdjdisevd dxgceigteki kn fdy ajgiods tgfeio plgad
ei tjd wkrlb trgbeio systdc gib trgad pkleay ecpleagtekis nkr Gseg. Rjd dssgys akvdr=
7 Eitrkbuateki
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Rjd Nuturd kn tjd _krlb Rrgbeio Qystdc= Gsegi Pdrspdatevds
8
Qtylesdb pgttdris kn, gib pgrteaepgits ei, olkhgl prkbuateki idtwkrfs gib supply
ajgeis. Rjd dakikcea dnndats kn akccdraegl gib eibustregl pkleaeds pursudb hy akuitreds.
Rjd dvklveio grajetdaturd kn rdoekigl trgbd okvdrigiad ajgrgatdresdb hy tjd sprdgb
kn NRGs gib gttdcpts gt akisklebgteki eitk lgrod, rdoeki-webd gorddcdits.
Rjd stgtd kn olkhgl trgbd okvdrigiad aditrdb ki tjd _RK gib prkpksgls nkr rdnkrc.
Jkw Gseg tjeifs gib gats ki tjdsd essuds well lefdly einludiad tjd wkrlb dakikcy. Gs
Pgsagl Lgcy wretds ei jes dssgy=
Gseg jgs hddi g suaadssnul ckbdl kn bdvdlkpcdit tjrkuoj trgbd, wjeaj jgs eisperdb
cgiy ktjdrs grkuib tjd wkrlb. Rjdrd es ik bkuht tjgt tjd rdoeki well akiteiud tk
eisperd tjd trgbd akccuiety ei tjd bdagbds tk akcd.
_etj ets seoieneagit dakikcea gib trgbd wdeojt ei tjd olkhgl dakikcy, Gseg es
dxpdatdb tk sjkulbdr ckrd rdspkiseheleteds gib tgfd tjd ldgb ei tjd olkhgl trgbeio
systdc ei tjd nuturd. Rjder akitrehuteki tk g suaadssnul _RK Ceiestdregl Akindrdiad
ei Hgle ei Bdadchdr 8071 well hd dssditegl.
Rjd tkpea kn tjes dHkkf es tjus tecdly gs Xkhdrtk Gzdvbk tgfds kvdr gs Berdatkr-
Odidrgl kn tjd _RK nrkc Qdptdchdr 8071 gib ldgbs tjd 5tj _RK Ceiestdregl
Akindrdiad ei Hgle ei Bdadchdr 8071. Et es ecpdrgtevd tjgt eiardgseio rdakoieteki es
oevdi tk tjd leifs hdtwddi olkhgl prkbuateki idtwkrfs gib supply ajgeis, igtekigl
akccdraegl gib eibustregl pkleaeds, gib tjd okvdrigiad kn olkhgl gib rdoekigl trgbd.
Nurtjdrckrd, areteagl bdaesekis well iddb tk hd cgbd gt tjd _RK gib rdoekigl nkrucsghkut ecprkvdcdits ei olkhgl gib rdoekigl trgbd okvdrigiad gib ordgtdr akjdrdiad
hdtwddi olkhgl gib rdoekigl trgbd rulds.
Rjd dssgys ei tjes dHkkf grksd nrkc g akindrdiad ki Rjd nuturd kn tjd wkrlb trgbeio
systdc jdlb gt tjd _RK ei Odidvg ki 77-78 Cgraj 8071, krogiesdb hy tjd Gsegi
Bdvdlkpcdit Hgif Eistetutd gib tjd Aditrd nkr Rrgbd gib Dakikcea Eitdorgteki gt tjd
Orgbugtd Eistetutd kn Eitdrigtekigl gib Bdvdlkpcdit Qtubeds, ei akllghkrgteki wetj tjd
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Eitrkbuateki
1
_RK. Lkiodr vdrsekis kn cgiy kn tjdsd dssgys grd hdeio bdvdlkpdb eitk null pgpdrs tk
hd puhlesjdb ei gi dbetdb hkkf.
Olkhgl prkbuateki idtwkrfs gib supply ajgeis
Kid ecpkrtgit ngatkr uibdrlyeio tjd orkwtj kn trgbd gib eivdstcdit, gib tjd rdsulteio
rdoekigl dakikcea eitdorgteki ei Gseg, es tjd nkrcgteki kn olkhgl prkbuateki idtwkrfs
gib supply ajgeis, pgrteaulgrly tjd orkwtj kn vdrteagl eitrg-eibustry trgbd ei pgrts,
akcpkidits, ktjdr eitdrcdbegtd okkbs, gib neiesjdb cgiungaturdb prkbuats. Rjd
eiardgseio sjgrd kn Gsegs trgbd ei eitdrcdbegtd okkbs jgs hddi gebdb hy ecprkvdcdits
ei pjyseagl einrgstruaturd gib lkoesteas sdrveads, rgpeb bdvdlkpcdits kn einkrcgteki gib
akccuieagteki tdajiklkoy, gib nglls ei trgbd hgrredrs gib trgbd aksts, gll kn wjeaj jgvd
jdlpdb dxpgib trgbd gib NBE.
Gs Xeajgrb Hglbwei iktds ei jes dssgy, tjd nkrcgteki kn olkhgl prkbuateki idtwkrfs gib
supply ajgeis jgs ajgiodb tjd aditrd kn orgvety kn tjd wkrlb dakikcy. Olkhglesgteki
seiad tjd 7550s jgs hddi gaakcpgiedb hy g stddp resd ei sjgrds kn wkrlb kutput gib
wkrlb trgbd kn bdvdlkpeio akuitreds tjgt jgvd gajedvdb eibustreglesgteki hy mkeieio
supply ajgeis. Rjd cgmkr ogeidrs wdrd Gsegs dcdroeio dakikceds eialubeio
tjd Pdkplds Xdpuhlea kn Ajeig (PXA), Xdpuhlea kn Fkrdg, Rjgelgib gib Eibkidseg
tjgt wdrd pgrt kn TQ, Odrcgi gib Mgpgidsd supply ajgeis.
Rjd wkrlb trgbeio systdc well jgvd tk tgfd hdttdr gaakuit kn tjd nkrcgteki kn olkhgl
gib rdoekigl supply ajgeis, gs tjes pjdikcdiki gltdrs jkw akuitreds eitdrgat wetjdgaj ktjdr tjrkuoj trgbd gib NBE. Ei gbbeteki, tjd gssdchly kn eitdrcdbegtd prkbuats
eitk neigl prkbuats nkr dxpkrt sjepcdit cdgis tjgt ecpkrts cgttdr gs cuaj gs dxpkrts
nkr trgbeio igtekis, wjeaj ecpleds g strkio akcpldcditgry rdlgtekisjep ei dakikcea
gatevety gckio akuitreds tjgt grd pgrt kn tjdsd vglud ajgeis.
Hdttdr trgbd pkleaycgfeio ei tjes akitdxt rdquerds ckrd gaaurgtd bgtg useio eiikvgtevd
cdgsurdcdit kn trgbd nlkws hgsdb ki vglud-gbbdb, rgtjdr tjgi orkss akccdraegl vgluds
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Rjd Nuturd kn tjd _krlb Rrgbeio Qystdc= Gsegi Pdrspdatevds
2
gs rdakrbdb ei akivditekigl trgbd stgtesteas, tk cdgsurd tjd igtekigl akitdit kn ecpkrts
gib dxpkrts. Ei jes dssgy, Qgtksje Eikcgtg grouds tjgt tjd rdadit Gsegi Eiput KutputRghld ngaeletgtds tjd cgppeio kn pgttdris kn trgbd ei vglud-gbbdb hdtwddi akuitreds
diogodb ei olkhgl prkbuateki-sjgreio grrgiodcdits. Gckio ktjdr hdidnets, tjd trgbd
ei vglud-gbbdb gpprkgaj gvkebs cultepld akuiteio kn trgbd nlkws gib gllkws g ckrd
rdglestea bdpeateki kn helgtdrgl trgbd ei tjd leojt kn olkhgl prkbuateki-sjgreio. Rjd trgbd
ei vglud-gbbdb gpprkgaj prkvebds nrdsj eiseojts eitk tjkriy eitdrigtekigl essuds suaj gs
tjd sezd kn tjd TQ trgbd bdneaet wetj tjd PXA. Tibdr tjd trgbd ei vglud-gbbdb gpprkgaj,
g lkwdr TQ trgbd bdneaet wetj tjd PXA es khsdrvdb akcpgrdb wetj akivditekigl trgbdstgtesteas.
Uuqeio Zeio pkeits kut tjgt ckvdcdits ei g seiold akuitrys dxajgiod rgtds bk ikt
nully bdtdrceid tjd akcpdtetevdidss kn okkbs prkbuadb uibdr prkbuateki-sjgreio
grrgiodcdits eivklveio trgbd ei vglud-gbbdb hdtwddi cgiy akuitreds. G vglud-gbbdb
rdgl dnndatevd dxajgiod rgtd es prkpksdb eistdgb tk hdttdr rdprdsdit tjd rdglety kn vglud-
gbbdb trgbd, pgrteaulgrly ei Gseg.
Nurtjdrckrd, hdttdr trgbd pkleaycgfeio glsk rdquerds useio ceark-ldvdl bgtg nrkc
ditdrpresd survdys tk uibdrstgib tjd rkld kn benndrdit nercs ei prkbuateki idtwkrfs.
Nercs grd akisebdrdb benndrdit ei tdrcs kn dnneaediay, gs wdll gs nexdb gib vgreghld
aksts, wjdi eivklvdb ei prkbuateki idtwkrfs. Gaakrbeioly, nerc-spdaenea ajgrgatdresteas
(kr nerc jdtdrkodidety) sjgpd pgrteaepgteki ei prkbuateki idtwkrfs. Brgweio ki
culte-akuitry culte-ditdrpresd survdys, Ogidsjgi _eoigrgmg suoodsts tjgt nerc sezd
(rdnldateio dakikceds kn sagld tk kvdrakcd ditry aksts) cgttdrs nkr mkeieio prkbuatekiidtwkrfs, wetj lgrod nercs plgyeio tjd bkceigit rkld ei Gseg. Ikidtjdldss, jeojdr QCD
pgrteaepgteki rgtds grd vesehld ei ckrd eibustreglesdb Gsegi dakikceds lefd Cglgyseg
gib Rjgelgib, eibeagteio tjd pktditegl rkld kn QCDs gs suppledrs tk lgrod nercs gib
berdat dxpkrtdrs. Gpgrt nrkc sezd, ktjdr fdy einludiads ki nerc-ldvdl pgrteaepgteki ei
prkbuateki idtwkrfs eialubd eivdstcdit ei jucgi agpetgl, tdajiklkoeagl agpgheleteds
gib gaadss tk ardbet. Okvdricdits agi ngaeletgtd QCDs mkeieio prkbuateki idtwkrfs
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Eitrkbuateki
4
tjrkuoj g cgrfdt-kreditdb strgtdoy nkr QCDs, strdgcleidb hurdguargtea prkadburds gib
eistetutekigl suppkrt sdrveads.
Akccdraegl gib eibustregl pkleaeds
Qdvdrgl ngatkrs jgvd hddi areteagl ei Gsegs suaadssnul kutwgrb-kreditdb eibustreglesgteki
gib struaturgl trgisnkrcgteki. G ngvkurghld wkrlb dakikcy iktghly, g hkkceio
wkrlb dakikcy tjgt steculgtdb bdcgib nkr lghkur-eitdisevd ecpkrts nrkc Gseg gib
nglleio tgrenns ei bdvdlkpdb akuitry cgrfdts prkvebdb tjd ecpdtus. Bdvdlkpeio
Gsegi dakikceds jgb gcpld suppleds kn lkw-akst, jeojly prkbuatevd lghkur gib wdrd
odkorgpjeaglly alksd tk gi dxpgibeio bdvdlkpdb Mgpgidsd dakikcy. Dnneaedit Mgpgidsd
culteigtekigl akrpkrgtekis (CIAs) wdrd gatevdly sddfeio tk rdlkagtd prkbuateki
tk ldss akstly lkagtekis ei Gseg. Rjrkuoj tdajiklkoy trgisndr gib trgeieio, bkcdstea
nercs gaquerdb cgiungatureio agpgheleteds tk hdakcd suppledrs gib suhakitrgatkrs
tk CIAs. Rjdsd dnnkrts wdrd suppkrtdb gt eibevebugl dakikcy ldvdls hy kutwgrb-
kreditdb bdvdlkpcdit strgtdoeds, jeoj bkcdstea sgveios rgtds, tjd ardgteki kn strkio
einrgstruaturd, gib eivdstcdit ei jucgi agpetgl. Kutwgrb-kreditdb bdvdlkpcdit
strgtdoeds kntdi dcpjgsesdb orgbugl ecpkrt lehdrglesgteki gib g strkio dxpkrt prkckteki
(useio vgrekus eiaditevds nkr dxpkrts gib dxpkrt prkadsseio zkids, gckio ktjdrs).
Gs pgrteaepgteki ei olkhgl vglud ajgeis hdagcd eiardgseioly prdvgldit ei Gseg, tjdrd es
orkweio eitdrdst ei jkw tjd hdidnets nrkc pgrteaepgteki grd bestrehutdb gckio akuitreds
gib ditdrpresds. Gt tjd igtekigl ldvdl, tjes es rdlgtdb tk tjd pursuet kn bdvdlkpcdit
khmdatevds suaj gs pkvdrty rdbuateki, mkh ardgteki, hdttdr prkbuatevety, tdajiklkoeagl
uporgbeio gib dakikcea bevdrseneagteki. Qkcd dakikceds jgvd gbbdb eibustregl
pkleaeds wetj g pldtjkrg kn eiaditevds tk diakurgod spdaenea eibustregl sdatkrs kr
pgrteaulgr odkorgpjeagl lkagtekis tk tjder kutwgrb-kreditdb pkleay nrgcdwkrf. Pgtreaf
Lkw gib Muleg Remgmg, ei tjder dssgy, dxgceid g vgredty kn gpprkgajds tk eibustregl
pkleay. Jd suoodsts tjgt skcd grd ckrd prkceseio tjgi ktjdrs ei tjd akitdxt kn olkhgl
vglud ajgeis. Rjd sezd kn bkcdstea cgrfdts, rdskurad dibkwcdits gib akuitry-spdaenea
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Rjd Nuturd kn tjd _krlb Rrgbeio Qystdc= Gsegi Pdrspdatevds
>
aeraucstgiads grd aruaegl tk bdtdrceieio kppkrtuieteds. Nurtjdrckrd, ecpldcditgteki
kn eibustregl pkleay agrreds tjd resf kn okvdricdit ngelurd wjeaj cgy hd ceteogtdb hybdvdlkpeio skleb okvdricdit agpgheleteds (tdajieagl, giglyteagl gib kpdrgtekigl) gib
nkroeio alksd rdlgtekis wetj tjd prevgtd sdatkr gib iki-stgtd gatkrs.
Ei tjd wgfd kn tjd olkhgl neigiaegl areses kn 800:, prktdatekiest tdibdiaeds grd ki tjd
resd ei skcd dakikceds, eialubeio wetjei Gseg. Qecki Dvdidtt grouds tjgt wjeld tjdrd
grd cgiy wgys tk ecpldcdit prktdatekiesc, sdvdrgl okvdricdits jgvd ecpldcditdb
wjgt grd aglldb curfy nkrcs kn prktdateki. Rjdsd bk ikt eivklvd g berdat veklgteki
kn _RK khleogtekis, hut rdprdsdit gi ghusd kn tjd pkleay besardteki tjgt besareceigtds
gogeist nkrdeoi okkbs, sdrveads, nercs, gib wkrfdrs. Dxgcplds eialubd tjd usd kn jdgltj
gib sgndty rdoulgtekis tk rdstreat ecpkrts, dxpkrt tgxds ki igtevd nkkb gib rdskurads tk
fddp tjdc gt jkcd, algusds ei steculus pgafgods tjgt akineid spdibeio tk bkcdsteaglly
prkbuadb okkbs gib sdrveads, gib orddi prktdatekiesc tjgt suhsebesds bkcdstea
nercs kily. Rjd ecpleagtekis kn tjdsd cdgsurds nkr trgbd pkleay grd aldgr. Gs tjd wkrlb
dakikcy rdakvdrs, pkleaycgfdrs sjkulb rdsest tdcptgtekis nkr prktdatekiesc gib
uiweib tjdsd besareceigtkry cdgsurds. Ei tjd cdbeuc tk lkio tdrc, pkleaycgfdrs cgy
wesj tk eietegtd idoktegtekis ki idw rulds ki puhlea prkaurdcdit, dxpkrt tgxds gib ktjdr
ldss trgispgrdit nkrcs kn prktdateki.
Rjd cultelgtdrgl trgbeio systdc kn tjd nuturd well jgvd tk gbbrdss ecpkrtgit olkhgl
essuds tjgt grd ikt gbbrdssdb uibdr _RK rulds. Rjd hlurreio hdtwddi trgbd pkleay
gib ktjdr pkleaeds, suaj gs alecgtd ajgiod gib dxajgiod rgtd pkleaeds, well rdquerd
tjd gttditeki kn pkleaycgfdrs. Nkr tjd dnneaediay ogeis nrkc trgbd tk trgislgtd eitkrdbuadb orddijkusd ogs dcessekis, tjd reojt diverkicditgl akitdxt cust hd sdt nkr
trgbd. Gpprkpregtd preaeio es vetgl tk hklstdr eiaditevds tk akisucd lkw-agrhki prkbuats
gib usd lkw-agrhki tdajiklkoeds. Nkr dxgcpld, putteio tjd reojt pread ki agrhki well
prkvebd g aldgr cgrfdt seoigl ei rdbuaeio tjd akisucpteki kn nkssel nudls gib cgfeio
lkw-agrhki tdajiklkoeds akccdraeglly veghld. En tjes es benneault, g suhseby cgy hd
prkvebdb nkr nercs, wjdtjdr bkcdstea kr nkrdeoi, tjgt prkbuad lkw-agrhki okkbs gib
sdrveads kr utelesd lkw-agrhki tdajiklkoeds.
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Eitrkbuateki
?
Rjd eitdrigtekigl ckidtgry systdc iddbs tk ngaeletgtd tjd nrdd nlkw kn eitdrigtekigl
okkbs gib sdrveads gib arkss-hkrbdr eivdstcdit. Rjd systdc cust hd suppkrtdb hystghld dxajgiod rgtds akisestdit wetj tjd uibdrlyeio nuibgcditgl dakikcea akibetekis.
Pkleaeds tk cgeitgei uibdrvgludb dxajgiod rgtds kvdr gi dxtdibdb pdrekb agi bestkrt
trgbd, lefd tgrenns gib trgbd suhsebeds, hy cgfeio tjd akuitrys dxpkrts grteneaeglly
akcpdtetevd gib ecpkrts ldss gttrgatevd. Akuitreds grd gbvesdb tk gvkeb suaj trgbd-
bestkrteio dxajgiod rgtd pkleaeds gs tjdy jgvd idogtevd akisdqudiads ikt kily nkr tjd
trgbeio pgrtidrs, hut ultecgtdly nkr tjd akuitreds akiadridb. Xeajgrb Pkcnrdt gib eatkr
Pkiteids groud tjgt ordgtdr nkrcgteki kn NRGs ei Gseg cdgis tjgt trgbd pkleay es ldssdnndatevd tjgi ei tjd pgst gib akuitreds grd tdibeio tk usd dxajgiod rgtd pkleay ckrd.
_etjei NRG hlkas, akuitreds grd tdibeio tkwgrbs dxajgiod rgtd stghelety. Jkwdvdr, skcd
akuitreds, dvdi wetjei NRG hlkas, grd useio dxajgiod rgtd bdprdaegteki gs g hdoogr-tjy-
ideojhkur nkrc kn dxajgiod rgtd prktdatekiesc. Rjes es jgrcnul tk ktjdrs gib ecpleds
tjd iddb nkr skcd akkrbeigteki gib ckietkreio cdajgiesc wetjei NRG hlkas.
Xdoekigl trgbd okvdrigiad
Xdoekigl trgbd okvdrigiad jgs hdakcd gi eiardgseioly ecpkrtgit essud ei tjd wkrlb
trgbeio systdc ei rdadit ydgrs. Prdndrditegl kr nrdd trgbd gorddcdits (PRGs kr NRGs)
grd sprdgbeio olkhglly, eialubeio ei Gseg. Cgiy Gsegi dakikceds jgvd dchgrfdb ki
NRG idoktegtekis wetj tjder trgbeio pgrtidrs, hktj wetjei Gseg gib kutsebd. Rjd ckvd
tkwgrbs NRGs ei Gseg es leifdb tk tjd iddb tk rdckvd ecpdbecdits tk hrkgbdieio tjd
sprdgb kn olkhgl gib rdoekigl supply ajgeis, tjd eitdiseneagteki kn NRG gatevety eiDurkpd gib tjd Gcdreags, gib tjd stglldb _RK Bkjg Xkuib trgbd tglfs.
Ei tjder dssgy, Fgwge gib _eoigrgmg groud tjgt kvdrlgppeio gib akcpldx NRG
grrgiodcdits ei Gseg cgy pksd sdvdrgl ajglldiods nkr Gsegs trgbd gib eivdstcdit. Ei
pgrteaulgr, tjd prdsdiad kn benndrdit, cultepld rulds kn kreoei es kid kn tjd trkuhldskcd
akcpkidits kn tjd Gsegi ikkbld hkwl, wjeaj glsk eialubds benndrdit, akcpdteio
tgrenn sajdbulds, dxaluseki lests, gib rulds gib stgibgrbs. Rjd ikkbld hkwl agi cgfd
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Rjd Nuturd kn tjd _krlb Rrgbeio Qystdc= Gsegi Pdrspdatevds
:
Gsegi nercs pgrteaulgrly scgll gib cdbeuc-sezdb ditdrpresds (QCDs), wjeaj usd NRG
prdndrdiads ngad akstly huseidss prkadburds gib auchdrskcd rdquerdcdits. Gsegiddbs tk akisebdr cdgsurds tk kvdrakcd tjd ikkbld hkwl prkhldc. Prgateagl cdgsurds,
suaj gs diakurgoeio rgtekiglesgteki gib nldxehelety kn rulds kn kreoei, uporgbeio kreoei
gbceiestrgteki, ecprkveio huseidss pgrteaepgteki ei NRG akisultgtekis gib strdiotjdieio
suppkrt systdcs nkr QCDs, agi jdlp ei ceteogteio tjd Gsegi ikkbld hkwl.
Nurtjdrckrd, sdvdrgl dakikcests ei Gseg groud nkr tjd akisklebgteki kn tjdsd cultepld
NRGs eitk g seiold Gseg-webd NRG, lefd tjd Xdoekigl Akcprdjdisevd Dakikcea
Pgrtidrsjep (XADP). G hrkgb-hgsdb, rdoeki-webd NRG tk hd nkrcdb hy 7> Dgst Gsegi
akuitreds akulb jdlp ceteogtd tjd jgrcnul ikkbld hkwl dnndats. Et akulb secpleny
sajdbulds nkr tgrenn rdbuatekis, dxaluseki lests, gib tjd cyregb rulds, rdoulgtekis gib
stgibgrbs. Qjumerk Trgtg dxgceids tjd pgttdris kn akccetcdits ei trgbd lehdrglesgteki
ei okkbs ei GQDGIs NRGs wetj cgmkr rdoekigl dakikceds gib pkeits kut tjgt tjd
akistruateki kn XADP cgy hd benneault hdagusd kn benndrdiads ei pgttdris kn tgrenn
dleceigteki gib bdneietekis kn rulds kn kreoei gbkptdb ei suaj gorddcdits. G prgateagl
wgy nkrwgrb nkr trgbd lehdrglesgteki uibdr XADP es nkr g orgbugl gpprkgaj ei tgrenn
dleceigteki gib g ak-dqugl gpprkgaj ei rulds kn kreoei.
GQDGI vedwdb gs tjd brevdr kn tjd prkadss kn rdoekigl dakikcea eitdorgteki ei Gseg
dchgrfdb ki gi gchetekus prkmdat tk nkrc gi GQDGI Dakikcea Akccuiety (GDA) hy
8074 eialubeio g seiold cgrfdt gib prkbuateki hgsd. Qekw Uud Ajeg gssdssds prkordss
tkwgrbs GDA gib nuturd berdatekis. Diakurgoeioly, eitrg-GQDGI tgrenns jgvd hddi
vertuglly dleceigtdb gib trgbd ngaeletgteki ecprkvdb wjeaj jgs rdsultdb ei tjd orkwtjkn eitrg-GQDGI gib dxtrg-GQDGI trgbd. Nurtjdrckrd, tjd GQDGI Akcprdjdisevd
Eivdstcdit Gorddcdit wgs rgtenedb ei 8078 gib cgy spur eiwgrb eivdstcdit.
Ikidtjdldss, nurtjdr prkordss es iddbdb ei ktjdr grdgs suaj gs dleceigteio iki-tgrenn
hgrredrs gib lehdrgleseio rdstreatekis ki sdrveads trgbd. Rjdrd es odidrgl gaadptgiad ei
GQDGI pkleay aeralds tjgt tjd gajedvdcdit kn tjd GDA prkmdat well dxtdib hdykib
8074 gs rdsebugl cdgsurds well tgfd tecd tk ecpldcdit.
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Eitrkbuateki
5
Abrea Bupkit qudstekis wjdtjdr GQDGI aditrglety ei breveio Gsegi rdoekigl
eitdorgteki well pdrsest ei g ajgioeio trgbd pkleay lgibsagpd ei Gseg. Rjd dcdrodiad kngi gltdrigtevd cdog-rdoekigl eitdorgteki sajdcd, tjd Rrgis-Pgaenea Qtrgtdoea Dakikcea
Pgrtidrsjep, sddcs tk jgvd rgesdb essuds ghkut tjd nuturd rdldvgiad kn GQDGI aditrglety
gib glsk tjd prkspdat kn g nuturd algsj hdtwddi tjd RPP gib XADP.
Et es pkssehld, jkwdvdr, tjgt g rdoeki-webd gorddcdit ei Gseg akulb gresd nrkc g sdreds
kn leifdb gorddcdits akvdreio vgrekus essuds gib pgrteaepgits. XADP gib RPP grd
fdy prkadssds tk ardgtd g lgrodr Gseg-Pgaenea NRG, wjeaj wkulb rdquerd suaadssnully
gbbrdsseio tjd benneault tgsf kn nkroeio g TQ-PXA gorddcdit. Rjd twk prkadssds grd ikt
cutuglly dxalusevd gib well lefdly prkvd tk hd akcpldcditgry ei tjd lkio rui. _jeajdvdr
pgtj kr pgtjs cgyhd tgfdi, et es ecpkrtgit tk gaadldrgtd rdoekigl lehdrglesgteki gib
bkcdstea dakikcea rdnkrcs. G jgrckiekus Gseg-Pgaenea wkulb lefdly sdd g akivdrodiad
kn XADP gib RPP. Rjes wkulb hd g wei-wei kutakcd nkr tjd Gseg-Pgaenea akccuiety.
Olkhgl trgbd okvdrigiad
Eitdrigtekigl trgbd rulds gib eistetutekis agi jgvd prknkuib gib lgsteio dnndats ki tjd
sjents gib rdbdneieteki kn trgbd rdlgtekisjeps ei Gseg gib olkhglly. Rjd rdspkisehelety
nkr olkhgl trgbd okvdrigiad jgs rdstdb wetj tjd _RK seiad ets ardgteki ei 7554, gib
ets cdchdrsjep jgb orkwi tk 745 akuitreds hy Cgraj 8071. Rjd _RKs aditrgl
nuiateki es tk prkvebd g nkruc nkr eitdrigtekigl trgbd idoktegtekis wjeaj rdsults ei
_RK gorddcdits. Rjd _RKs ktjdr nuiatekis eialubd gbceiestdreio _RK gorddcdits,
ckietkreio igtekigl trgbd pkleaeds, gib prkvebeio tdajieagl gssestgiad gib trgeieio nkr
bdvdlkpeio akuitreds. Rjd slkw prkordss ei tjd _RK Bkjg Xkuib trgbd tglfs cdgis
tjgt idw cultelgtdrgl trgbeio rulds well tgfd tecd tk dvklvd gceb aglls nkr _RK rdnkrcs.
Ei jes dssgy, Heswgmet Bjgr gssdssds prkspdats nkr tjd Bkjg Xkuib gib tjd nuturd
wkrf prkorgc nkr tjd _RK. Rjd nkaus kn tjd idoktegtekis, wjeaj akccdiadb ei
Ikvdchdr 8007, wgs lkwdr trgbd hgrredrs ei goreaulturd gib iki-goreaulturgl cgrfdt
gaadss (IGCG). Rjd tglfs stglldb ei 800: lgrodly kvdr g bevebd ki cgmkr essuds suaj
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Rjd Nuturd kn tjd _krlb Rrgbeio Qystdc= Gsegi Pdrspdatevds
70
gs goreaulturd suhsebeds, eibustregl tgrenns gib iki-tgrenn hgrredrs. Nurtjdrckrd, skcd
fdy plgydrs sddc tk jgvd hddi prdkaaupedb wetj bkcdstea dakikcea essuds seiad tjddakikcea bkwituri nkllkweio tjd olkhgl neigiaegl areses gib jgvd oevdi ldss gttditeki
tk tjd trgbd tglfs. Kid ajglldiod ngadb hy tjd olkhgl akccuiety es tk gssdss tjd fdy
bdvdlkpcdits ei tjd Bkjg Xkuib wjeaj jgvd akitrehutdb tk tjd prdsdit stgldcgtd.
Giktjdr es tk bdvdlkp g idw prkorgc nkr tjd _RK tk tgafld hdjeib-tjd-hkrbdr essuds
rdldvgit tk nrgocditdb prkbuateki systdcs gib supply ajgeis, pgrteaulgrly trgbd
ngaeletgteki, eivdstcdit pkleay gib iki-tgrenn hgrredrs. Xeajgrb Hglbwei grouds tjgt tjd
_RK jgs ikt fdpt up wetj tjd iddb nkr idw rulds okvdrieio tjd eitdrtweieio kn trgbd,eivdstcdit, eitdlldatugl prkpdrty gib sdrveads. Hreioeio tjdsd rulds tk tjd cultelgtdrgl
ldvdl iddbs tjd ardgteki kn g idw eitdrigtekigl krogiezgteki g _RK 8.0.
Rjd igrrkw idoktegteio godibg gib slkw prkordss kn tjd _RK Bkjg Xkuib cgy hd
pgrtly bud tk tjd igturd kn tjd _RKs bdaeseki-cgfeio cdajgiesc gib ets uibdrlyeio
preiaeplds kn akisdisus gib seiold uibdrtgfeio. Cetajetgfg Igfgtkce gib Rkckajefg
Tygcg, ei tjder dssgys, dxplkrd tjd rkld kn plurelgtdrgl gorddcdits wjeaj nkaus ki
ruld-cgfeio gib lehdrglesgteki ki g seiold trgbd essud. Gi dxgcpld es tjd Einkrcgteki
Rdajiklkoy Gorddcdit (ERG) wetj gi kpdi gaadsseki algusd. Plurelgtdrgl gorddcdits
pdrcet eitdrdstdb pgrteds tk nrddly ajkksd tjd essud nkr gi gorddcdit gib vkluitgrely
pgrteaepgtd ei tjd idoktegtekis. _dll-bdseoidb, essud-hgsdb plurelgtdrgl gorddcdits agi
sdrvd tjd iddbs kn lefd-ceibdb bdvdlkpdb gib bdvdlkpeio akuitreds glefd, dijgiad tjd
sprdgb kn NBE-brevdi olkhgl supply ajgeis, gib akcpldcdit ruld-cgfeio ei tjd _RK
gib NRGs. Qdrveads, trgbd ngaeletgteki gib dldatrkiea akccdrad cgy hd agibebgtds nkr
nuturd essud-hgsdb plurelgtdrgl gorddcdits.
Jkw tk cgfd rdoekigl trgbd rulds ei NRGs eialubeio cdog-rdoekigls akcpgtehld
wetj cultelgtdrgl trgbd rulds uibdr tjd _RK jgs dcdrodb gs gi ecpkrtgit essud nkr
tjd wkrlb trgbeio systdc. Xkjeie Gajgryg dxgceids wjdtjdr NRGs jgvd bdvdlkpdb
akccki stgibgrbs gib rulds tjgt akulb ultecgtdly hd cultelgtdrglesdb. _RK rdsdgraj
ki NRGs eitdrigtekiglly suoodsts tjgt, gltjkuoj NRGs besareceigtd gogeist tjerb pgrteds
gib bevdrod nrkc kid giktjdr, tjdy bk jgvd skcd akccki ndgturds. Rjus, detjdr NRG
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Eitrkbuateki
77
rulds bk ikt benndr seoieneagitly nrkc cultelgtdrgl rulds (nkr eistgiad, ei gite-bucpeio
kr QPQ gib RHR), kr akccki ngceleds kn NRGs jgvd nkrcdb ei tjd sgcd odkorgpjeaglgrdg sjkweio secelgreteds wetjei tjd ngcely. Ardgteio tjd sgcd rulds gib lehdrglesgteki
akccetcdits wetjei ngceleds kn gorddcdits es g idxt stdp. Rjes es kid kn tjd gecs
kn idoktegtekis nkr RPP (nkllkweio tjd IGNRG struaturd) gib XADP (nkllkweio tjd
GQDGI+7 struaturd). Dvdituglly, akccki rulds ei cdog-rdoekigls cgy hd jgrckiesdb
cultelgtdrglly.
Cgefg Ksjefgwg, dxplkrds tjd pktditegl nkr akllghkrgteki hdtwddi tjd _RK gib
GQDGI hgsdb ki benndrdit eistetutekigl strdiotjs gib wdgfidssds. GQDGI jgs
rdlgtevd strdiotj ei tjd ldoeslgtevd nuiateki, suoodsteio tjgt ogeis cgy hd gajedvdb nrkc
dxtdibeio GQDGI-hgsdb NRGs ki g iki-besareceigtkry hgses tk gbbetekigl pgrteds.
Dnnkrts tk akisklebgtd GQDGI+7 NRGs eitk XADP grd g ckvd ei tjgt berdateki. Rjd
_RK jgs strdiotjs ei tjd mubeaegl nuiateki wetj g strkio besputd sdttldcdit cdajgiesc
gib ei ckietkreio trgbd pkleaeds. Gaakrbeioly, ei gi ebdgl sadigrek tjd _RK gib
GQDGI cgy akllghkrgtd ki tjd mubeaegl gib ckietkreio nuiatekis tk disurd ordgtdr
akjdrdiad hdtwddi olkhgl gib rdoekigl rulds. Rjes glsk wkulb jdlp tjd _RK prdpgrd
nkr tjd dvditugl cultelgtdrglesgteki kn GQDGI+7 NRGs.
NBE nlkws grd nuibgcditgl tk tjd sprdgb kn olkhgl prkbuateki idtwkrfs hut, wjeld
trgbd hgrredrs jgvd typeaglly nglldi kvdr pgst bdagbds, hgrredrs tk NBE rdcgei jeoj,
eialubeio ei Gseg. Gpgrt nrkc tjd usugl essuds rdlgteio tk iki-igtekigl trdgtcdit kn
nkrdeoi nercs, prktdatekiest tdibdiaeds gib igtekigl sdaurety akisebdrgtekis sddc tk hd
breveio idw rdstreatekis ki NBE. Gldmgibrk Mgrg, gs wdll gs ]jgio Uuileio gib _gioXkioygi, ei tjder rdspdatevd dssgys, besauss tjd ecpkrtgiad kn NBE tk sustgeieio olkhgl
orkwtj, tjd akibetekis odidrgteio idw rdstreatevdidss ki NBE, gib pkleay kptekis.
Idw Gsegi NRGs dcpjgsesd igtekigl trdgtcdit kn NBE gib ckrd lehdrgl NBE rulds gib
eitdrigtekigl krogiesgtekis jgvd bdvdlkpdb okkb prgatead ouebdleids nkr NBE, hut tjes
sddcs eisunneaedit. G agsd dcdrods nkr gi dvditugl cultelgtdrgl gorddcdit ki eivdstcdit
akvdreio trgispgrdiay ki eivdstcdit rulds gib eivdstkr ngaeletgteki, ebdglly jkusdb ei
tjd _RK.
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Rjd Nuturd kn tjd _krlb Rrgbeio Qystdc= Gsegi Pdrspdatevds
78
Akialusekis
Rjd wkrlb trgbeio systdc jgs ajgiodb nuibgcditglly kvdr tjd pgst ydgrs wetj tjd
dxpgiseki kn prkbuateki idtwkrfs gib supply ajgei trgbd, seois kn idw akccdraegl
gib eibustregl pkleaeds, gib tjd sprdgb kn NRG-ldb rdoekiglesc. Rjdsd bdvdlkpcdits grd
gll jdrd tk stgy, hut tjd _RK jgs ikt fdpt up wetj tjdc. _RK aditreaety ei olkhgl trgbd
okvdrigiad es drkbeio gib es gt resf kn akiteiueio tk drkbd. Rjd resd kn Ngatkry Gseg
tjrkuoj supply ajgei trgbd jgs plgadb et eiardgseioly gt tjd jdgrt kn tjd olkhgl dakikcy.
Rjd rdoeki es glsk dxpdrecditeio wetj idw gpprkgajds tk NRGs gib dakikcea pkleaeds
tk sustgei dakikcea orkwtj gcebst g nrgoeld wkrlb dakikcy.
Gsegs dxpdrediad kn kpdi trgbd-ldb bdvdlkpcdit knndrs cgiy vglughld ldsskis nkr ktjdr
rdoekis. Rjdsd eialubd tjd ecpkrtgiad kn purseio cgrfdt-nredibly trgbd gib eibustregl
pkleaeds tk bdvdlkp supply ajgei trgbd, ecprkveio survdellgiad kn iki-tgrenn cdgsurds,
gib akisklebgteio NRGs eitk g lgrod rdoeki-webd NRG. Tseio ckrd gaaurgtd bgtg tk
cdgsurd vglud gbbdb trgbd gib pgrteaepgits ei supply ajgei trgbd (d.o. QCDs) prkvebd
dcpereagl eiseojts nkr pkleay bdvdlkpcdit.
Ei tjd lkiodr tdrc, hdttdr akjdrdiad es vetgl hdtwddi Gsegs rdoekigl trgbd rulds gib
olkhgl trgbd okvdrigiad. Ecprkveio tjd quglety kn lgrod Gseg-webd NRGs, g _RK godibg
ki supply ajgeis gib NRGs, gib seoieneagit rdnkrcs kn tjd _RK grd idadssgry ckvds
tkwgrbs tjes dib. Essud-hgsdb plurelgtdrgl gorddcdits gib gi dvditugl cultelgtdrgl
gorddcdit ki eivdstcdit agi glsk plgy g rkld ei ngaeletgteio akjdrdiad hdtwddi rdoekigl
gib olkhgl rulds ki trgbd.
Rjd bdhgtd ki olkhgl gib rdoekigl trgbd okvdrigiad ei tjd idw drg es g wkrf ei prkordss
gib wd jkpd tjgt tjes dHkkf well hdttdr einkrc tjd sdgraj nkr pkleay kptekis. GBHE,
kx gib ADPX lkkf nkrwgrb tk jksteio nurtjdr pkleay akccditgry gib giglyses gs tjdy
gresd.
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Eitrkbuateki
71
Ghkut tjd Dbetkrs
Xeajgrb Dbwgrb Hglbwei es Prkndsskr kn Eitdrigtekigl Dakikceas gt tjd Orgbugtd
Eistetutd, Odidvg seiad 7557, g pgrt-tecd veseteio rdsdgraj prkndsskr gt tjd Tievdrsety
kn Kxnkrb seiad 8078, Pkleay Berdatkr kn ADPX seiad 800>, gib Dbetkr-ei-Ajedn kn kx
seiad jd nkuibdb et ei Muid 800?. Jd wgs Ak-cgigoeio Dbetkr kn tjd mkuriglDakikcea
Pkleay nrkc 8000 tk 8004, gib Prkorgccd Berdatkr kn ADPXs Eitdrigtekigl Rrgbd
prkorgccd nrkc 7557 tk 8007. Hdnkrd tjgt jd wgs g Qdiekr Qtgnn Dakikcest nkr tjd
Prdsebdits Akuiael kn Dakikcea Gbveskrs ei tjd Husj Gbceiestrgteki (7550-7557), ki
ldgvd nrkc Aklucheg Tievdrsety Huseidss Qajkkl wjdrd jd wgs Gsskaegtd Prkndsskr.
Jd beb jes PjB ei dakikceas gt CER wetj Pgul Fruocgi. Jd wgs veseteio prkndsskr gt
CER ei 8008/01 gib jgs tguojt gt uievdrseteds ei Etgly, Odrcgiy gib Ikrwgy. Jd jgs
glsk wkrfdb gs akisultgit nkr tjd iucdrkus okvdricdits, tjd Durkpdgi Akccesseki,
KDAB, _krlb Hgif, DNRG, gib TQGEB. Rjd gutjkr kn iucdrkus hkkfs gib grtealds, jes
rdsdgraj eitdrdsts eialubd eitdrigtekigl trgbd, olkhglesgteki, rdoekiglesc, gib Durkpdgi
eitdorgteki. Jd es g ADPX Xdsdgraj Ndllkw.
Cgsgjerk Fgwge es Bdgi gib ADK kn tjd Gsegi Bdvdlkpcdit Hgif Eistetutd. Jd
wgs prdvekusly spdaegl gbveskr tk tjd GBH prdsebdit ei ajgrod kn rdoekigl dakikcea
akkpdrgteki gib eitdorgteki. Hdnkrd tjgt jd wgs ei tjd gagbdceg, nerst gs gi gsskaegtd
prkndsskr kn dakikceas gt Rjd Mkjis Jkpfeis Tievdrsety gib lgtdr gs g prkndsskr kn
dakikceas gt tjd Tievdrsety kn Rkfyk. Jd glsk sdrvdb gs ajedn dakikcest nkr tjd _krlb
Hgifs Dgst Gseg gib tjd Pgaenea Xdoeki gib gs bdputy vead ceiestdr nkr eitdrigtekigl
gnngers kn Mgpgis Ceiestry kn Neigiad. Jes rdadit puhleagtekis nkaus ki dakikcea
rdoekiglesc. Jd jklbs g HG ei dakikceas nrkc tjd Tievdrsety kn Rkfyk gib g PjB ei
dakikceas nrkc Qtginkrb Tievdrsety.
Ogidsjgi _eoigrgmg es Berdatkr kn Xdsdgraj gt tjd Gsegi Bdvdlkpcdit Hgif
Eistetutd. Prdvekusly, jd wgs preiaepgl dakikcest gt tjd Gsegi Bdvdlkpcdit Hgif, ajedn
prkorgccd knneadr gt tjd Akcckiwdgltj Qdardtgregt, g cgigodr ei g TF dakikceas
akisulteio nerc gib jgs jdlb rdsdgraj pksetekis gt Kxnkrb Tievdrsety, tjd KDAB gib tjd
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Rjd Nuturd kn tjd _krlb Rrgbeio Qystdc= Gsegi Pdrspdatevds
72
Tietdb Igtekis Eistetutd nkr Idw Rdajiklkoeds. Br. _eoigrgmg jgs puhlesjdb 78 hkkfs
ki trgbd gib akcpdtetevdidss, rdoekigl dakikcea eitdorgteki, eibustregl tdajiklkoy, gibbdvdlkpcdit strgtdoy. Jd es gi dxdautevd dbetkr kn tjdMkurigl kn Gsegi Dakikceas. Jd
jgs g B.Pjel ei dakikceas nrkc Kxnkrb Tievdrsety gib g HQa ei dakikceas nrkc tjd
Lkibki Qajkkl kn Dakikceas.
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74
Pgsagl LgcyBerdatkr-Odidrgl, _krlb Rrgbd Krogiesgteki
Gseg es g vgst akiteidit wetj lgrod jdtdrkodidety pjyseaglly, aulturglly, leiouesteaglly,
pkleteaglly, gib dakikceaglly. Rjd rdoeki eialubds skcd kn tjd wkrlbs ckst akcpdtetevd
gib skpjesteagtdb dakikceds, gs wdll gs lgrod dcdroeio kids wjeaj grd ngst hdakceio
ecpkrtgit olkhgl plgydrs. Gt tjd sgcd tecd, tjdy ak-dxest wetj iucdrkus scglldr, pkkrdr
gib ckrd vulidrghld dakikceds, eialubeio lgiblkafdb gib eslgib stgtds. Bdspetd ets
rgpeb dakikcea orkwtj, Gseg stell rdcgeis jkcd tk idgrly jgln kn tjd wkrlbs pkkr. Rjd
rdoeki es ngaeio iucdrkus ajglldiods, rgioeio nrkc reseio eidqugleteds gib bespgreteds,
lecetdb igturgl rdskurads gib vulidrghelety tk alecgtd ajgiod tk tjd resf kn nglleio eitktjd cebbld eiakcd trgp, gll kn wjeaj jgvd ecpleagtekis nkr tjd rdst kn tjd wkrlb.
Rjd pgst ndw bdagbds jgvd wetidssdb tjd rgpeb dakikcea tgfd-knn kn tjd rdoeki. Gsegs
sjgrd kn wkrlb cdrajgibesd trgbd jgs orkwi nrkc grkuib 71% ei 75>0 tk kvdr 10%
ei 8077. Gseg es prkmdatdb tk gaakuit nkr ckrd tjgi jgln kn olkhgl OBP, trgbd, gib
eivdstcdit gib tk dimky webdsprdgb gnnludiad hy tjd cebbld kn tjd 87st aditury.
Rrgbd jgs plgydb g fdy rkld ei sjgpeio tjd trgisnkrcgteki kn Gsegi dakikceds ei rdaditjestkry6 Gseg es g leveio dxgcpld kn jkw trgbd agi akitrehutd tk dakikcea bdvdlkpcdit.
Rjd trgbd sjgrd kn OBP ei Gseg ordw nrkc 71% ei 75>0 tk ?0% hy 800?. Bureio tjd
sgcd pdrekb, juibrdbs kn cellekis jgvd hddi lentdb kut kn pkvdrty. Et es cy hdledn tjgt
trgbd well akiteiud tk plgy g bdneieio rkld ei Gsegs nuturd prkspdrety.
8 Rjd nuturd kn tjd wkrlb trgbdsystdc= Gsegi pdrspdatevds
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Rjd Nuturd kn tjd _krlb Rrgbeio Qystdc= Gsegi Pdrspdatevds
7>
Bdvdlkpcdit kn supply ajgeis gs tjd hgses nkr Gsegieitdorgteki
Eitdorgteki hktj rdoekigl gib olkhgl jgs hddi aditrgl tk Gsegi prkspdrety. Rjd sjgrd
kn eitrg-rdoekigl trgbd ei Gsegs cdrajgibesd trgbd jgs orkwi nrkc ghkut 80% ei 75>0
tk kvdr 40% ei 8077. Gsegs rgpeb dakikcea orkwtj kwds cuaj tk tjd bdvdlkpcdit kn
wdhs kn supply ajgeis gib prkbuateki idtwkrfs, kntdi fikwi gs Ngatkry Gseg. G mkeit
stuby hy tjd _RK gib EBD-MDRXK ei 8077 jeojleojtdb g bdordd kn akcpldcditgrety
gckio Gsegi eibustreds, wjeaj es hktj g agusd gib g akisdqudiad kn bddpdidb dakikcea
eitdrbdpdibdiay hdtwddi akuitreds.
Rkbgy, idgrly >0% kn wkrlb cdrajgibesd trgbd es trgbd ei akcpkidits. Ei Gseg,
tjd neourd es alksdr tk twk-tjerbs. Rjes kwds cuaj tk sdrveads, eialubeio trgispkrt,
akccuieagtekis gib ktjdr huseidss sdrveads, tjgt hdakcd fdy akcpkidits ei tjd
kpdrgteki kn supply ajgeis. Rjd sgcd agi hd sgeb kn rdlgtevdly lkw tgrenns ki eibustregl
prkbuats gib lettld dsaglgteki ei tjd tgrenn struaturds. NBE jgs glsk plgydb g heo rkld ei
tjd dxpgiseki kn trgbd ei eitdrcdbegtd okkbs ei Gseg.
Rjdrd es g bdhgtd ki tjd agsuglty hdtwddi tjd orkweio supply ajgeis gib tjd iuchdr
kn nrdd trgbd gorddcdits (NRGs) ei Gseg. Ei ngat, Gseg es g rdlgtevd lgtdakcdr tk NRGs,
kily eiardgseio ets eivklvdcdit kvdr tjd lgst bdagbd, glhdet gt g brgcgtea sagld. Rjd
iuchdr kn rgtenedb NRGs ordw nrkc 1> ei 8008 tk 705 gt tjd hdoeiieio kn 8071,
wetj gi gbbetekigl 72: gt vgrekus stgods kn idoktegteki. Rjd bdvdlkpcdit kn supply
ajgeis ei Gseg jgs hddi brevdi hy huseidssds, gib et es tjd NRGs tjgt grd agtajeio up
wetj tjd huseidss rdglety kn ckrd trgbd gib eivdstcdit. Rjd fdy brevdr kn rdoekigl
eitdorgteki tjrkuoj NRGs es rdbuaeio tjd aksts kn trgbeio, eialubeio tjd qugitety gib
quglety kn einrgstruaturd, tjd quglety kn lkoesteas, tjd quglety kn eistetutekis, gib tjd
akcpdtetevdidss kn tjd dakikcy. Gs tgrenns grd odidrglly ikt g seoieneagit hgrredr
giyckrd, tjdsd gorddcdits jgvd eiardgseioly nkausdb ki iki-tgrenn trgbd ngaeletgteki
cdgsurds, hktj gt gib hdjeib hkrbdrs.
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Rjd nuturd kn tjd wkrlb trgbd systdc= Gsegi pdrspdatevds
7?
Rjd agsd nkr cultegltdrglesgteki
Rjd ak-dxestdiad hdtwddi NRGs gib tjd cultelgtdrgl systdc es lefdly tk akiteiud nkr
tjd nkrdsddghld nuturd. Rjd fdy es jkw hdst tk pursud akjdrdiad hdtwddi tjdc. Ei
leojt kn tjd orkweio supply ajgeis gs tjd hgses nkr bddpdieio Gsegs rdoekigl gib olkhgl
eitdorgteki, tjdrd es g iddb nkr g pgtj tkwgrbs orgbugl cultelgtdrglesgteki tjd dxtdiseki
kn dxesteio grrgiodcdits, ei g iki-besareceigtkry cgiidr, tk gbbetekigl pgrteds. Qkcd
rdadit eietegtevds tk akisklebgtd eitrg-rdoekigl NRGs eitk g hrkgbdr rdoekigl gorddcdit,
suaj gs tjd Xdoekigl Akcprdjdisevd Dakikcea Pgrtidrsjep (XADP) hy tjd GQDGI+>
cdchdrs, kr tjd Rrepgrtetd Nrdd Rrgbd Grdg gckio tjd cdchdrs kn AKCDQG, DGA gib
QGBA, akulb hd stdppeio stkids ei tjgt berdateki. Et es ecpkrtgit, jkwdvdr, tjgt suaj
akivdrodiad dnnkrts bk ikt dib up ei gi gorddcdit kn tjd lkwdst akccki bdikceigtkrs
kr g alksdb gorddcdit.
Rjd agsd nkr cultelgtdrglesgteki es pgrteaulgrly strkio ei Gseg. Nerst, tjd ebdg kn kpdi
rdoekiglesc wgs kreoeigtdb ei tjd GPDA akitdxt ei 755>, gs gi kpteki tk dxtdib tjd
hdidnets kn tjd GQDGI NRG gaakrbs tk iki-cdchdrs ki gi CNI hgses. _jeld tjes ebdgwgs ikt nkrcglly gbkptdb, GPDA cdchdrs jgvd dchrgadb gib prgateadb et ki g rgiod
kn prkbuats.
Qdakib, Gseg es eiardgseioly nkauseio ki eitdr-rdoekigl NRGs, kutrdgajeio ktjdr
akiteidits wjdtjdr hdtwddi dakikceds ki hktj sebds kn tjd Pgaenea kr wetj Durkpd, ei
gbbeteki tk tjd glrdgby dxesteio eitdr-rdoekigl nkrg suaj ldvdl GPDA gib GQDC.
Rjerb, rdadit Gsegi NRGs nkaus ckrd ki rdbuaeio iki-tgrenn cdgsurds, eivklveio
stgibgrbs, tdajieagl rdoulgtekis, adrteneagteki prkadburds, sdrveads rdoulgtekis,
prubditegl rulds, gib sk ki. _jeld tjdsd cdgsurds grd ckrd akcpleagtdb tk idoktegtd
tjgi tgrenns, kiad gi gorddcdit es rdgajdb tjder ecpldcditgteki wkulb ikt kily hd dgsedr,
hut glsk ldss akstly gib ckrd dnneaedit, en et es bkid ei g iki-besareceigtkry ngsjeki.
Nkurtj, uielgtdrgl trgbd kpdieio es kid nkrc kn cultelgtdrglesgteki tjgt jgs hddi webdly
prgatesdb gs pgrt kn bkcdstea rdnkrcs. Gaakrbeio tk g _krlb Hgif stuby, uielgtdrgl
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Rjd Nuturd kn tjd _krlb Rrgbeio Qystdc= Gsegi Pdrspdatevds
7:
gatekis akistetutdb grkuib >4% kn trgbd kpdieio wkrlbwebd hdtwddi 75:1 gib 8001.
Rjes es dspdaeglly trud ei Gseg.
Neiglly, wjeld cultelgtdrglesgteki etsdln bkds ikt gutkcgteaglly trgislgtd eitk cultelgtdrgl
gaakrbs, lkafeio ei tjdsd trgbd kpdieio dnnkrts ei tjd _RK agi prkvebd ardbehelety,
trgispgrdiay gib prdbeatghelety, wjeaj grd aditrgl tk tjd sckktj kpdrgteki kn supply
ajgeis. Oevdi tjd juod dakikcea gib systdcea eitdrdsts eivklvdb ei tjd cgeitdigiad
kn gi kpdi, wdll-nuiatekieio trgbeio systdc, Gseg akulb prkgatevdly akitrehutd tk
strdiotjdieio tjd olkhgl trgbeio systdc hy hreioeio tjder idoktegteio didroeds hgaf tk
tjd _RK, disureio ordgtdr akjdrdiad gib syidroeds ei tjder trgbd kpdieio dnnkrts gt tjd
rdoekigl gib olkhgl ldvdls.
Gseg gib tjd _RK
_jeld skcd Gsegi cdchdrs ceojt hd nrustrgtdb gt slkw prkordss ki tjd BBG idoktegtekis,
tjdrd grd grdgs ei wjeaj tjd _RK agi akcpldcdit gib ngaeletgtd tjd eitdorgteki dnnkrts
hgaf jkcd. Nkr eistgiad, g akialuseki kn tjd trgbd ngaeletgteki idoktegtekis akulb
jdlp ecprkvd rdoekigl akiidatevety hy jglveio lkoesteagl gib ktjdr aksts gsskaegtdb
wetj hkrbdr gib austkcs prkadburds. Rkodtjdr wetj rdoekigl eistetutekis, wd agi glsk
disurd tjgt Geb nkr Rrgbd jdlps huelb trgbd agpgaety ei pkkrdr Gsegi akuitreds, eialubeio
agpgaety tk ecpldcdit g _RK trgbd ngaeletgteki bdgl. _d agi glsk wkrf tkodtjdr tk
disurd gvgelghelety gib gnnkrbghelety kn trgbd neigiad, ei pgrteaulgr nkr QCDs.
Gseg jgs hddi g suaadssnul ckbdl kn bdvdlkpcdit tjrkuoj trgbd, wjeaj jgs eisperdbcgiy ktjdrs grkuib tjd wkrlb. Rjdrd es ik bkuht tjgt tjd rdoeki well akiteiud tk eisperd
tjd trgbd akccuiety ei tjd bdagbds tk akcd.
_etj ets seoieneagit dakikcea gib trgbd wdeojt ei tjd olkhgl dakikcy, Gseg es dxpdatdb
tk sjkulbdr ckrd rdspkiseheleteds gib tgfd tjd ldgb ei tjd olkhgl trgbeio systdc ei
tjd nuturd. Ets akitrehuteki tk g suaadssnul _RK Ceiestdregl Akindrdiad ei Hgle ei
Bdadchdr 8071 well hd dssditegl.
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Rjd nuturd kn tjd wkrlb trgbd systdc= Gsegi pdrspdatevds
75
Ghkut tjd gutjkr
Pgsagl Lgcy hdogi jes agrddr ei tjd Nrdiaj aevel sdrvead gt tjd Eispdateki Oirgld bds
neigiads gib gt tjd Rrdgsury. Jd tjdi hdagcd gi gbveskr tk tjd Neigiad Ceiestdr Mgaquds
Bdlkrs, gib suhsdquditly tk Precd Ceiestdr Pedrrd Cgurky. Ei Hrussdls nrkc 75:4 tk
7552, Pgsagl Lgcy wgs Ajedn kn stgnn nkr tjd Prdsebdit kn tjd Durkpdgi Akccesseki,
Mgaquds Bdlkrs, gib jes rdprdsditgtevd gs Qjdrpg ei tjd O?. Ei Ikvdchdr 7552, jd mkeidb
tjd tdgc ei ajgrod kn rdsaueio Ardbet Lykiiges, gib lgtdr hdagcd ADK kn tjd hgif uitel
ets prevgtesgteki ei 7555. Hdtwddi 7555 gib 8002, Pgsagl Lgcy wgs Akccessekidr nkr
Rrgbd gt tjd Durkpdgi Akccesseki uibdr Xkcgik Prkbe. Gntdr jes tdiurd ei Hrussdls,
Pgsagl Lgcy spdit g sjkrt sghhgteagl pdrekb gs Prdsebdit kn Iktrd Durkpd, g tjeif
tgif wkrfeio ki Durkpdgi eitdorgteki, gs gsskaegtd Prkndsskr gt tjd lEistetut btubds
pkletequds ei Pgres gib gs gbveskr tk Pkul Iyrup Xgscussdi (Prdsebdit kn tjd Durkpdgi
Qkaeglest Pgrty). Cr. Lgcy jklbs bdordds nrkc tjd Pgres hgsdb Dakld bds Jgutds tubds
Akccdraeglds (JDA), nrkc tjd Eistetut bDtubds Pkletequds (EDP) gib nrkc tjd Dakld
Igtekigld bGbceiestrgteki.
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Qdateki 7
Qupply Ajgeis gib PrkbuatekiIdtwkrfs
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81
Xeajgrb HglbweiOrgbugtd Eistetutd gib ADPX
Rjd arkss-hkrbdr nlkws kn okkbs, eivdstcdit, sdrveads, fikw-jkw gib pdkpld gsskaegtdb
wetj eitdrigtekigl prkbuateki idtwkrfs agll et supply-ajgei trgbd nkr sjkrt jgs
trgisnkrcdb tjd wkrlb (Odrdnne gib Ldd 8078). Rjd _RK jgs ikt fdpt pgad. Et es tecd tk
ajgiod tjgt, gs E groudb ei ADPX Pkleay Eiseojt Ik >2 (Hglbwei 8078). Hdnkrd turieio
tk tjd okvdrigiad essud, akisebdr tjd ajgiods.
Rjd wkrlb kn trgbd jgs ajgiodb
Qeiad tjd 7550s, olkhglesgteki jgs hddi gsskaegtdb wetj g sjgrp brkp ei reaj igtekis
sjgrd kn wkrlb eiakcd, wkrlb cgiungatureio gib wkrlb dxpkrts (Neourd 7). Rjd heo
weiidrs grd bdvdlkpeio igtekis tjgt eibustreglesdb hy mkeieio, rgtjdr tjgi hy huelbeio,
supply ajgeis (Neourd 8). Rjd heo sjgrd weiidrs grd gll pgrt kn tjd supply ajgeis kn
tjd TQ, Odrcgiy (Pklgib gib Rurfdy), gib Mgpgi (Pdkplds Xdpuhlea kn Ajeig
(PXA), Xdpuhlea kn Fkrdg, Eibkidseg gib Rjgelgib). Eibeg es tjd dxadpteki. Rjes rgpeb
eibustreglesgteki glsk pulldb up g webd rgiod kn bdvdlkpeio igteki akcckbety dxpkrtdrs
lefd Hrgzel, Xusseg, Gustrgleg gib Qkutj Gnreag.
1 _RK 8.0= Rjeifeio gjdgb kiolkhgl trgbd
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Rjd Nuturd kn tjd _krlb Rrgbeio Qystdc= Gsegi Pdrspdatevds
82
Neourd 7 O? sjgrd kn wkrlb dxpkrts, cgiungatureio gib OBP
7557,
48%
80%
10%
20%
40%
>0%
752:
754:
75>:
75?:
75::
755:
800:
O? dxpkrts
7550,
>4%
20%
40%
>0%
?0%
:0%
75?0
75?4
75:0
75:4
7550
7554
8000
8004
8070
O? cgiungatureio
754
0,
44%
75::,>?%
24%
40%
44%
>0%
>4%
?0%
752:
754:
75>:
75?:
75::
755:
800:
O? OBP
Neourd 8 Cgiungatureio sjgrds= Qdvdi ogeidrs gib tjd O? lksdrs
TQ
PXA
Mgpgi
Odrcgiy
Etgly
TF
Nrgiad
Agigbg0%
4%
70%
74%
80%
84%
10%
75?0
75?2
75?:
75:8
75:>
7550
7552
755:
8008
800>
8070
_krlbcgiungatureiosjgrd
Xdp. kn Fkrdg
Eibeg
RurfdyEibkidseg
Pklgib
Rjgelgib
0.0%
0.4%
7.0%
7.4%
8.0%
8.4%
1.0%
1.4%
75?0
75?4
75:0
75:4
7550
7554
8000
8004
8070
_krlbcgiun
gatureiosjgrd
Xdp. kn Fkrdg
Eibeg
Rurfdy
Rjd wkrlb kn trgbd pkleteas gib trgbd okvdrigiad glsk ajgiodb. En g jeoj-tdaj nerc
es tk lkagtd prkbuateki stgods ei g bdvdlkpeio igteki, tjd igtekis okvdricdit cust
disurd tjd idadssgry nrdd ckvdcdit kn okkbs, sdrveads, einkrcgteki gib tjd prktdatekikn tgioehld gib eitgioehld prkpdrty reojts. Klb ngsjekidb prktdateki, gite-NBE pkleaeds,
kr lgx prkpdrty reojts glckst ougrgitdd tjgt tjd knnsjkrdb stgods well ok skcdwjdrd
dlsd. Bdvdlkpeio igtekis tjgt okt tjd knnsjkrdb ngatkreds hdagcd jypdr-akcpdtetevd
gib wepdb kut tjd dxpkrts kn bdvdlkpeio igtekis tjgt aluio tk ecpkrt-suhstetuteki
eibustreglesgteki. Ei tjd wkrlb kn supply-ajgei eibustreglesgteki, prktdatekiesc jgs
hdakcd bdstruatekiesc.
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_RK 8.0= Rjeifeio gjdgb ki olkhgl trgbd
84
Jgveio ldgridb tjes ldsski, bdvdlkpeio igtekis uielgtdrglly lkwdrdb tgrenns gib dgodrly
seoidb up nkr bddp besaepleids ei rdoekigl trgbd gorddcdits gib helgtdrgl eivdstcdittrdgteds (Neourd 1). Et jgppdidb rdoekiglly, rgtjdr tjgi cultelgtdrglly seiad ckst supply
ajgeis grd rdoekigl (Hglbwei gib Lkpdz-Okizglds 8078). Rjd ngat tjgt tjd _RK jgs
hddi lkafdb ei g bdagbd-lkio prdkaaupgteki wetj 80tj aditury trgbd essuds (tgrenns gib
goreaulturd) ei tjd Bkjg Xkuib jgs cdrdly dxgadrhgtdb tjd rdoekiglesgteki kn supply-
ajgei besaepleids.
Neourd 1 Rrgbd pkleteas ajgiodb= Prktdatekiesc hdagcd bdstruatekiesc
HERs
seoidb
pdr
ydgr
(reojt
sagld)
_krlbNBE ($helleki)
75::
0
400
7000
7400
8000
8400
0
40
700
740
800
840
7545
75>2
75>5
75?2
75?5
75:2
75:5
7552
7555
8002
8005
Qkutj
Gseg
suh-
Qgjgrgi
Gnreag
Cebbld
Dgst &
Ikrtj
Gnreag
7551
Dgst
Gseg &
Pgaea
0
4
70
74
80
84
10
14
20
24
40
75::
7550
7558
7552
755>
755:
8000
8008
8002
800>
800:
Gppledb tgreffs (%)
Rjd lgtdst drkseki kn _RK aditreaety akcds wetj tjd cdog-rdoekigls lefd tjd Rrgis-
Pgaenea Pgrtidrsjep tjgt grd hdeio idoktegtdb. Ki aurrdit trgmdatkry, rulds nkr supply
ajgei trgbd well jgvd hddi jgrckiesdb ei tjdss cdog-rdoekigls wetjei g ndw ydgrs
diterdly kutsebd tjd _RKs gchet.
Lkkfeio gjdgb ki olkhgl trgbd okvdrigiad= _RK 8.0 iddbdb
Rjd idw rulds gib besaepleids uibdrpeiieio tjd resd kn supply-ajgei trgbd jgvd hddi gib
akiteiud tk hd wrettdi kutsebd tjd _RK precgrely ei bddp XRGs, HERs, gib gutkikckus
rdnkrcs hy dcdroeio dakikceds. Dnnkrts tk jgrckiesd tjdsd idw besaepleids grd tgfeio
plgad ei cdog-rdoekigls (Rrgis-Pgaenea Pgrtidrsjep, Rrgis-Gtlgitea Pgrtidrsjep, dta.)
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Rjd Nuturd kn tjd _krlb Rrgbeio Qystdc= Gsegi Pdrspdatevds
8>
gib cdog-helgtdrgls (d.o. DT-Mgpgi) tjgt grd uibdr idoktegteki kr besausseki. Gs tjd
Bkjg Xkuib es uilefdly tk akialubd hdnkrd 8080 gib _RK diogodcdit ei supply-ajgeiessuds es uilefdly hdnkrd et bkds, wkrlb trgbd okvdrigiad es jdgbdb nkr nrgocditgteki.
Qpdaeneaglly, supply-ajgei besaepleids well hd jgrckiesdb hy cdog-rdoekigls gib cdog-
helgtdrgls tjgt well, ki aurrdit trgmdatkry, dxalubd tjd PXA gib ktjdr lgrod dcdroeio
dakikceds.
Xdpgereio tjd nrgocditgteki gib dxaluseki well rdquerd supply-ajgei besaepleids tk hd
cultelgtdrglesdb eitk g idw krogiesgteki agll et _RK 8.0. G idw krogiesgteki es iddbdb
seiad tkbgys _RK es ikt suetdb tk tjd tgsf.
Rjd OGRR/_RKs suaadss wgs hgsdb ki wei-wei akkpdrgteki wjksd igturd nkllkwdb
nrkc tjd igturd kn trgbetekigl trgbd e.d. okkbs arksseio hkrbdrs. _etj trgbetekigl trgbd,
tgrenns jdlp tjd prktdateio igteki wjeld jgrceio ktjdrs, sk tjd dib rdsult kn eibevebuglly
rgtekigl prktdateki es aklldatevd nklly. Rjd OGRR/_RK nlkuresjdb hy sklveio tjes
akkrbeigteki prkhldc hy besaepleieio sdlnesj-hut-jgrcnul-tk-ktjdrs pkleaeds. Rjd hgsea
OGRR/_RK hgrogei tjgt uibdrpeiidb tjd besaepleid wgs cy cgrfdt nkr ykur cgrfdt.Idogtevd tjerb-igteki dnndats wdrd olkhgl, sk uievdrsgl cdchdrsjep wgs tjd igturgl
kutakcd. Oevdi vgst cgrfdt-sezd gib eiakcd benndrdiads, Qpdaegl gib Benndrditegl
Rrdgtcdit nkr bdvdlkpeio igtekis wgs g igturgl pgrt kn tjd pgafgod.
Qupply-ajgei trgbd pksds rgbeaglly benndrdit akkrbeigteki prkhldcs, sk et es igturgl tjgt
tjd struaturd kn tjd krogiesgteki tjgt sklvds et wkulb hd rgbeaglly benndrdit. Rjd arkss-
hkrbdr nlkws tjgt treoodr supply-ajgei trgbd tdib tk hd kid-wgy. Gbvgiadb-tdajiklkoy
nercs knnsjkrd tgioehld gib eitgioehld gssdts, akcheieio tjdc wetj lkw-wgod lghkur
ei bdvdlkpeio igtekis. Rjd nercs odt jeojdr rdturis ki tjder nerc-spdaenea gssdts6 tjd
bdvdlkpeio igtekis odt ngst-trgaf eibustreglesgteki.
Gs suaj, tjd hgsea bdgl ei supply-ajgei akkpdrgteki es ikt Ell fddp cy cgrfdt kpdi en
yku fddp ykurs kpdi, gs ei _RK 7.0. Et es Ell knnsjkrd cy ngatkreds gib tdajiklkoeds
en yku gssurd cy tgioehld gib eitgioehld gssdts grd prktdatdb. Rjd idogtevd tjerb-
igteki dnndats grd lecetdb, sk tjd lkoea kn uievdrsgl cdchdrsjep ei _RK 8.0 es wdgf.
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_RK 8.0= Rjeifeio gjdgb ki olkhgl trgbd
8?
Rjd musteneagteki nkr QBR glsk besgppdgrs. Rjd akkpdrgteki jdlps bdvdlkpeio igtekis
ardbehly akccet tk pkleaeds tjgt grd okkb nkr tjdc. Gllkweio g pkkr igteki tk ikt gssurdprktdateki kn tjd gssdts tjgt treoodr supply-ajgei trgbd wkulb jgrc rgtjdr tjgi jdlp. Ei
tjd wkrlb kn supply-ajgei trgbd, prktdatekiesc es bdstruatekiesc gs ngr gs bdvdlkpeio
igtekis grd akiadridb. Oevdi tjgt _RK 7.0 jgs uievdrsgl cdchdrsjep gib Qpdaegl
gib Benndrditegl Rrdgtcdit ei ets BIG, cultelgtdrgleseio supply-ajgei besaepleids well
rdquerd g idw krogiesgteki _RK 8.0, gs et wdrd.
Akialusekis
Cuaj kn cy 8078 ADPX Pkleay Eiseojt es hgsdb ki mubodcdits gib akimdaturds tjgt grd
bdhgtdghld. Kid pkeit tjgt es ikt bdhgtghld, jkwdvdr. _RK aditreaety ei olkhgl trgbd
okvdrigiad es drkbeio gib well akiteiud tk drkbd. Ki aurrdit trgmdatkry, cultelgtdrglesc
well akiteiud tk rdeoi nkr trgbetekigl trgbd, hut nrgocditgteki gib dxaluseki grd tjd ckst
lefdly kutakcds wjdi et akcds tk tjd ckst byigcea sdocdit kn eitdrigtekigl akccdrad
supply-ajgei trgbd.
Rjes cgy wdll dib up gs tjd idw ikrcgl. Rjd PXA gib ktjdr lgrod dcdroeio cgrfdts
cgy hd heo dikuoj tk akuitdr tjd dxaluseki. Rjdy cgy akiteiud tk gttrgat knnsjkrdb
ngatkreds wetj g cy eitdrigl cgrfdt nkr ykur ngatkreds gib tdajiklkoy bdgl eistdgb kn
tjd ykur ngatkreds nkr cy rdnkrc bdgl tjgt ckst bdvdlkpeio igtekis cust cgfd.
Rjes idw ikrcgl, jkwdvdr, wkulb jgrbly hd tjd hdst tjd wkrlb agi bk. _krsd ydt, g
nrgocditdb wkrlb bkceigtdb hy Ordgt-Pkwdr struoolds akulb ldgb tk tjd stdgby drksekikn tjd _RKs aditreaety tjgt skkidr kr lgtdr hreios tjd wkrlb tk g teppeio pkeit g pkeit
hdykib wjeaj dxpdatgtekis hdakcd uickkrdb gib igtekis nddl mustenedb ei eoikreio
_RK 7.0 ikrcs seiad dvdrykid dlsd bkds.
E gc ikt surd tjgt tjd sklutekis prkpksdb ei cy Pkleay Eiseojt grd tjd reojt kids, hut E
gc surd tjgt sklutekis cust hd nkuib en tjd wkrlb trgbd systdc es tk gvkeb nrgocditgteki
gib dxaluseki. Ets tecd tk stgrt tjeifeio gjdgb ki olkhgl trgbd okvdrigiad.
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Rjd Nuturd kn tjd _krlb Rrgbeio Qystdc= Gsegi Pdrspdatevds
8:
Xdndrdiads
Hglbwei, X (8078). _RK 8.0= Olkhgl okvdrigiad kn supply-ajgei trgbd, ADPX Pkleay
EiseojtIk.>2, Bdadchdr.
Hglbwei, X gib M Lkpdz-Okizgldz (8071). Qupply-ajgei trgbd= G pkrtrget kn olkhgl
pgttdris gib sdvdrgl tdstghld jypktjdsds, IHDX _P 7:54?.
Odrdnne, O gib M Ldd (8078). _jy tjd _krlb Qubbdily Agrds Ghkut Olkhgl Qupply
Ajgeis,Mkurigl kn Qupply Ajgei Cgigodcdit2: (1)= 82-18.
Ghkut tjd gutjkr
Xeajgrb Hglbwei es Prkndsskr kn Eitdrigtekigl Dakikceas gt tjd Orgbugtd Eistetutd.
Prkndsskr Hglbwei es glsk tjd Pkleay Berdatkr kn ADPX seiad 800>, Dbetkr-ei-Ajedn kn
^kx seiad jd nkuibdb et ei Muid 800?, gib gi dldatdb Cdchdr kn tjd Akuiael kn tjd
Durkpdgi Dakikcea Gsskaegteki. Jd wgs g Qdiekr Qtgnn Dakikcest nkr tjd Prdsebdits
Akuiael kn Dakikcea Gbveskrs ei tjd Husj Gbceiestrgteki (7550-7557) nkllkweio
Truougy Xkuib, IGNRG gib DGE idoktegtekis gs wdll gs iucdrkus TQ-Mgpgi trgbd
essuds eialubeio tjd QEE tglfs gib tjd Qdceakibuatkr Gorddcdit rdidwgl. Jd wgs Ak-
cgigoeio Dbetkr kn tjd mkuriglDakikcea Pkleaynrkc 8000 tk 8004, gib Prkorgccd
Berdatkr kn ADPXs Eitdrigtekigl Rrgbd prkorgccd nrkc 7557 tk 8007.Gutjkr
kn iucdrkus hkkfs gib grtealds, jes rdsdgraj eitdrdsts eialubd eitdrigtekigl trgbd,
olkhglezgteki, rdoekiglesc, gib Durkpdgi eitdorgteki. Jd wrktd jes PjB gt CER uibdr
tjd ouebgiad kn Pgul Fruocgi, Jes C.Qa. es nrkc LQD, jes H.G. nrkc tjd Tievdrsety
kn _esakisei-Cgbeski6 jd wgs gwgrbdb gi jkikrgry bkatkrgtd hy Rurfu Qajkkl kn
Dakikceas gib Huseidss ei 8004.
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85
Qgtksje EikcgtgEistetutd kn Bdvdlkpeio Dakikceds, MDRXK
7. Eitrkbuateki
Rjd Eistetutd kn Bdvdlkpeio Dakikceds akibuatdb g mkeit rdsdgraj wkrf wetj tjd _RK
ki tjd tkpea kn olkhgl vglud ajgeis, gib puhlesjdb g rdpkrt kn tjd akllghkrgteki ei
Muid 8077 (_RK gib EBD-MDRXK 8077). Rjd puhleagteki eitrkbuads tjd akiadpt kn
trgbd ei vglud-gbbdb, wjeaj gbbrdssds gi ecpkrtgit essud kn cdgsureio eitdrigtekigl
trgbd ei tjd ngad kn orkweio prkbuateki-sjgreio gckio benndrdit akuitreds. Rjd trgbd
ei vglud-gbbdb gpprkgaj dighlds us tk rdbdneid tjd rdlgtekisjep hdtwddi akuitreds knkreoei gib bdsteigteki ei eitdrigtekigl trgbd. Ei akitrgst tk tjd krtjkbkx akiadpt kn trgbd
hglgiads hgsdb ki nkrdeoi trgbd stgtesteas, et nkausds ki tjd vglud-gbbdb akitdits kn g
trgbdb prkbuat, gib akisebdrs dgaj akuitrys akitrehuteki tk vglud-gbbdb odidrgteki ei
ets prkbuateki prkadss.
Gs suaj, tjes ajgptdr gecs tk prkvebd g iki-tdajieagl dxplgigteki kn tjd akiadpt kn
trgbd ei vglud-gbbdb, gib ei pgrteaulgr strdssds tjd ecpkrtgiad kn tjd bgtgsdt aglldb
Eitdrigtekigl Eiput-Kutput Rghlds nkr ets cdgsurdcdit. Rjd idxt sdateki ellustrgtds
tjd ebdg kn cdgsureio trgbd ei tdrcs kn vglud-gbbdb hy rdndrreio tk tjd dxgcpld kn tjd
ePjkids prkbuateki idtwkrfs. Qdateki 1 eitrkbuads skcd giglyteagl dxgcplds gib tjd
neigl sdateki akialubds wetj skcd pkleay ecpleagtekis.
2 Rrgbd ei vglud-gbbdb= Gi DgstGsegi pdrspdatevd
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Rjd Nuturd kn tjd _krlb Rrgbeio Qystdc= Gsegi Pdrspdatevds
10
8. _jgt es cdgsurdb hy trgbd ei vglud-gbbdb;
Neourd 7 sjkws tjd eitdrigtekigl vglud bestrehuteki kn gi ePjkid. Et sjkws jkw cuaj
vglud gaaruds tk tjd akcpgieds kn tjd vgrekus akuitreds tjgt pgrteaepgtd ei tjd ePjkid
prkbuateki idtwkrfs. Qk, kn TQ$400 rdtgel pread kn ePjkids ei 8005, tjd TQ rdadevdb
$117 gs g pgy-hgaf, Mgpgi, Odrcgiy, gib ktjdr cgmkr eibustreglesdb akuitreds rdadevdb
$7>8 ei tktgl, gib tjd Pdkplds Xdpuhlea kn Ajeig (PXA), wjeaj wgs tjd lgrodst prkbuadr
gib dxpkrtdr kn ePjkids, rdadevdb kily $?.
Neourd 7 Eitdrigtekigl vglud bestrehuteki kn ePjkids
Xdtgel pread knePjkid ei 8005
3 $400(>2% cgroei nkr
tjd Gppld)
$ 7>8
$ ? $ 117
Qkurad= Brgwi hy tjd gutjkr, hgsdb ki Zeio gib Bdtdrt (8070).
_jy bkds tjes jgppdi; Dvdry akcpkidit kn gi ePjkid es prkbuadb hy benndrdit
prkbuateki tdajiklkoeds, gib jdiad jgs g benndrdit cgrfdt vglud. Nlgsj cdckreds gib
tkuaj sarddis, nkr dxgcpld, grd prkbuats kn Rksjehg, sk tjd Mgpgidsd akitrehuteki tk giePjkid es fikwi tk hd grkuib $>7 (Rghld 7).
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Rrgbd ei vglud-gbbdb= Gi Dgst Gsegi pdrspdatevd
17
Rghld 7 Akst struaturd kn pgrts nkr gi ePjkid1O
Cgiungaturdr Akcpkidits Tiet pread (TQ$)Rksjehg (Mgpgi) Nlgsj cdckry 82.00
Besplgy ckbuld 75.84Rkuaj sarddi 7>.00
Qgcsuio (Xdp. kn Fkrdg) Gppleagteki prkadsskr 72.2>QBXGC-ckheld BBX :.40
Eineidki (Odrcgiy) Hgsdhgib 71.00Agcdrg ckbuld 5.44XN Rrgisadevdr 8.:0OPQ rdadevdr 8.84Pkwdr EA XN nuiateki 7.84
Hrkgbakc (TQ) Hludtkktj/NC/_LGI 4.54Iuckiyx (TQ) Cdckry CAP 1.>4Curgtg (Mgpgi) NDC 7.14Begklo Qdceakibuatkr(Odrcgiy)
Pkwdr EA gppleagtekiprkadsskr nuiateki
7.10
Aerrus Lkoea (TQ) Gubek akbda 7.74Ktjdrs 2:.00
Qkurad= Zeio gib Bdtdrt (8070).
Et es ikt surpreseio tk sdd tjgt cgrfdt vgluds benndr bdpdibeio ki tjd typd kn akcpkidit,
hut suaj g vglud ogp agi glsk dcdrod gckio tjd tgsfs ei tjd prkbuateki prkadss.
Quppksd tjgt tjd prkbuateki kn ePjkids eivklvds tjd nkllkweio deojt prkbuateki stgods=
Prkbuat bdseoi
Xdsdgraj & Bdvdlkpcdit
Cgtdregl prkaurdcdit
Pgrts prkaurdcdit
Gssdchly
Bestrehuteki
Cgrfdteio
Austkcdr sdrveads
Glsk suppksd tjgt tjd tgsfs grd agrredb kut ei benndrdit akuitreds tjrkuoj eitdrigtekigl
kutskuraeio. Jdrd, en wd gleoi tjd prkbuateki stgods glkio tjd jkrezkitgl gxes nrkc
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Rjd Nuturd kn tjd _krlb Rrgbeio Qystdc= Gsegi Pdrspdatevds
18
tjd upstrdgc tk bkwistrdgc prkadss, gib en wd tgfd tjd vdrteagl gxes gs tjd gckuit kn
vglud-gbbdb odidrgtdb hy dgaj tgsf/prkbuateki stgod, tjdi tjd nuiatekigl orgpj wellhd brgwi gs ei Neourd 8. Tsuglly, et es gt hktj pdrepjdrgl sebds glkio tjd tgsf spdatruc
wjdrd tjd akcpgieds rdadevd tjd jeojdr vgluds, nkr dxgcpld nrkc prkbuat bdseoi, X&B,
cgrfdteio gib austkcdr suppkrt. Ckst kn tjdsd gaarud tk gbvgiadb dakikceds. Ki
tkp kn tjes, tjd jeojdst vgluds grd agpturdb, kn akursd, hy tjd ldgb nerc, e.d. Gppld. Ei
akitrgst, tjd tgsfs ei tjd cebbld rgiod tdib tk rdquerd uisfelldb lghkur gib tjus jgvd
lkwdr vglud-gbbdb, pgrteaulgrly tjd gssdchleio stgod wjeaj tgfds plgad prdbkceigitly
ei tjd PXA. Hdagusd kn ets sjgpd, wd usuglly agll tjes begorgc g sceld aurvd, gibet es tjd rdlgtevd pkseteki kn tjd akuitreds glkio tjd sceld aurvd tjgt bdtdrceids tjd
eitdrigtekigl bestrehuteki kn vglud-gbbdb.
Neourd 8 G Qceld Aurvd^glud-gbbdb
Prkbuatekiprkadss
Prkbuat
bdseoi
Gssdchly
Bestrehuteki
Cgrfdteio
Austkcdr
sdrveads
Cgtdregl
prkaurdcdit
X&B
Pgrts
prkaurdcdit
Qkurad= Brgwi hy tjd gutjkr.
Rjdsd khsdrvgtekis pksd g nuibgcditgl qudsteki ghkut tjd wgy tjgt wd cdgsurd
eitdrigtekigl trgbd tkbgy. ePjkids grd prkbuadb ei tjd PXA gib dxpkrtdb tk tjd TQ, tjd
cgei akisucpteki cgrfdt. Udt wjgt Ajeidsd prkbuadrs bk es eibddb g vdry secpld tgsf
kn gssdchleio pgrts gib akcpkidits, gib jdiad tjd gckuit tjgt tjdy rdadevd nkr tjd
wkrf es ceiecgl. Ki tjd ktjdr jgib, tjd ePjkids dxpkrtdb nrkc tjd PXA grd neiesjdb
prkbuats, wetj vgluds kn grkuib $7:0. Rjes cdgis tjgt tjd aurrdit trgbd stgtesteas, wjeaj
kily akiadri tjd pjyseagl trgisndr kn okkbs gib sdrveads nrkc gi eccdbegtd trgbeio
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Rrgbd ei vglud-gbbdb= Gi Dgst Gsegi pdrspdatevd
11
pgrtidr, rdakrb g vglud kn Ajeidsd dxpkrt tjgt jgs ik rdldvgiad tk tjd rdgl peaturd nkr
Ajeidsd cgiungaturdrs.
Rjd wgy ei wjeaj trgbd stgtesteas grd akcpeldb uibdrpeis tjd suppksdb trgbd echglgiad
hdtwddi tjd PXA gib tjd TQ (Neourd 1). _d jgvd must sddi, jkwdvdr, tjgt g seoieneagit
pgrt kn tjd vgluds dchkbedb ei Ajeidsd dxpkrts jgs ets kreoei ei ktjdr akuitreds, ecplyeio
tjgt tjd PXAs trgbd surplus kr tjd TQs trgbd bdneaet es seoieneagitly kvdrdstecgtdb
uibdr tjd aurrdit cdgsurdcdit, gs akcpgrdb tk tjd gltdrigtevd cdtjkb kn cdgsureio
trgbd ei tdrcs kn vglud-gbbdb.
Neourd 1 Rjd TQ trgbd bdneaets wetj tjd PXA (75573700)8700
7?00
7100
500
400
700
7557
7558
7551
7552
7554
755>
755?
755:
7555
8000
8007
8008
8001
8002
8004
800>
800?
800:
8005
Qkurad= Brgwi hy tjd gutjkr, hgsdb ki tjd TI Akctrgbd
Tseio tjd vglud-gbbdb akiadpt, wd agi rdbrgw tjd helgtdrgl trgbd hglgiads kn tjd ePjkid.
Neourd 2 akcpgrds tjd TQ trgbd bdneaet kn tjd ePjkid ei 8005 useio tjd trgbetekigl
cdgsurdcdit gib tjd vglud-gbbdb cdgsurdcdit. Ei tdrcs kn vglud-gbbdb, tjd TQbdneaet kn $7.5 helleki gogeist tjd PXA es rdbuadb tk kily $?1 celleki, wjeaj agi hd
hrkfdi bkwi tk tjd bdneaets ves--ves ktjdr akuitreds suaj gs Mgpgi gib Odrcgiy, tjd
akrd pgrts suppledrs nkr ePjkids.
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Rjd Nuturd kn tjd _krlb Rrgbeio Qystdc= Gsegi Pdrspdatevds
12
Neourd 2 Rjd TQ trgbd hglgiad kn ePjkids ei 8005
Rrgbetekigl cdgsurdcdit glud-gbbdb cdgsurdcdit
_krlb
Kn wjeaj=
PXA
Mgpgi
Xdp. kn Fkrdg
Odrcgiy
Xdst kn_krlb
Qkurad= _RK gib EBD-MDRXK (8077)
1. Qkcd giglyteagl rdsults
Qkcd giglyteagl dxgcplds kn tjd trgbd ei vglud-gbbdb gpprkgaj useio tjd Gsegi
Eitdrigtekigl Eiput-Kutput Rghlds nkllkw. Rjd nerst ajgrt ei Neourd 4 sjkws tjd akuitry
sjgrd kn tjd kreoeis kn vglud-gbbdb dchkbedb ei tjd PXAs dxpkrts tk tjd TQ. Hdagusd
tjd bgtg rdndrs tk tjd PXAs dxpkrts, et es quetd dvebdit tjgt Ajeidsd vglud-gbbdb estjd lgrodst, hut gt tjd sgcd tecd et es glsk sddi tjgt ktjdr akuitreds, dspdaeglly Mgpgi,
akitrehutd seoieneagitly tk tjd vglud-gbbdb kn Ajeidsd dxpkrts. Et es iktghld tjgt tjd
TQ etsdln, tjd dxpkrt bdsteigteki, es glsk sjkwi gs gi kreoei kn vglud-gbbdb. Rjes es gi
eitdrdsteio ndgturd kn tjd trgbd ei vglud-gbbdb gpprkgaj.
Rjd rdsults kn bdakcpkseio vglud-gbbdb kreoeis kn dxpkrts agi hd akcpgrdb nkr ktjdr
Dgst Gsegi akuitreds. Dvdi tjkuoj wd jgvd rdpdgtdbly groudb tjgt g seoieneagit pgrt kn
vglud-gbbdb ei tjd PXAs dxpkrts jgs ets kreoei kvdrsdgs, tjes arkss-akuitry akcpgreski
sjkws tjgt dvdi lgrodr sjgrds grd gttrehutghld tk nkrdeoi kreoeis ei tjd agsds kn Xdpuhlea
kn Fkrdg gib Rjgelgib. Rjes es g rgtjdr odidrea khsdrvgteki ghkut scgll kpdi dakikceds
wetj g jeoj bdordd kn bdpdibdiay ki nkrdeoi cgrfdts nkr hktj bdcgib gib supply kn
okkbs gib sdrveads.
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Rrgbd ei vglud-gbbdb= Gi Dgst Gsegi pdrspdatevd
14
Neourd 4 Rjd kreoeis kn vglud-gbbdb dchkbedb ei bkcdstea dxpkrt tk tjd TQ (8004)
1%
50%
8% 4%
PXA
Mgpgi PXA TQG Ktjdr Dgst Gseg
52%
7%8%1%
Mgpgi
Mgpgi PXA TQG Ktjdr Dgst Gseg
?%2%
2%
2%
:7%
Xdp. kn Fkrdg
Mgpgi PXA TQG Ktjdr Dgst Gseg Xdp. kn Fkrdg
5%
2%
>%
?%
?2%
Rjgelgib
Mgpgi PXA TQG Ktjdr Dgst Gseg Rjgelgib
Qkurad= Aglaulgtdb gib brgwi hy tjd gutjkr.
Neourd > sjkws tjd TQ trgbd bdneaets wetj tjd PXA nkr 8000, 8004, gib 800:, wetj tjd
ordy hgrs eibeagteio tjd trgbd bdneaets cdgsurdb useio tjd trgbetekigl gpprkgaj, gib tjd
hlgaf hgrs sjkweio tjd bdneaets cdgsurdb ei tdrcs kn vglud-gbbdb. (Rjdsd grd igteki-
webd bdneaets, ikt kn g pgrteaulgr prkbuat gs wd sgw nkr tjd ePjkid.) Et es strefeio tjgt ei
tdrcs kn vglud-gbbdb, tjd trgbd bdneaet es rdbuadb hy 80-10% akcpgrdb tk tjd trgbetekigl
cdgsurdcdit. Gaakrbeio tk tjd _RKs dstecgtd, tjd bdneaet wkulb dvdi hd jglvdb en wd
tgfd eitk gaakuit tjd einludiad kn dxpkrt-prkadsseio zkids ei akgstgl grdgs kn tjd PXA.
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Rjd Nuturd kn tjd _krlb Rrgbeio Qystdc= Gsegi Pdrspdatevds
1>
Neourd > Rjd TQ trgbd bdneaet wetj tjd PXA
0 700 800 100
8000
8004
800:
Rrgbekigl gpprkgaj
Rrgbd ei vglud-gbbdb
-87%
-80%
-8?%
Helleki
TQ$
Qkurad= _RK gib EBD-MDRXK (8077)
2. Akialubeio rdcgrfs
Akcpgrdb tk tjd trgbetekigl cdtjkb hgsdb ki nkrdeoi trgbd stgtesteas wjeaj kily rdakrb
tjd pjyseagl trgisndr kn prkbuats hdtwddi eccdbegtd trgbeio akuitreds, tjd trgbd ei
vglud-gbbdb gpprkgaj cdgsurds eitdrigtekigl trgbd gs g nlkw kn vgluds, rgtjdr tjgi kn
okkbs gib sdrveads. Ets giglyteagl hdidnets, dspdaeglly nrkc g pkleaycgfeio pdrspdatevd,
grd=
7. Et prkvebds g ckrd rdglestea vedw kn helgtdrgl trgbd ei tjd leojt kn eitdrigtekigl
prkbuateki-sjgreio.
8. Et gvkebs cultepld akuiteio kn trgbd nlkws wjdi okkbs grd trgisndrrdb garkss hkrbdrs.
1. Et uievkaglly gttrehutds tjd kreoeis kn ecpkrtdb prkbuats, wjeaj jdlps ei bdseoieio
spdaenea trgbd pkleaeds suaj gs tgx sajdcds.
Xdndrdiads
EBD-MDRXK (800>), Gsegi Eitdrigtekigl Eiput-Kutput Rghld 8000= ^klucd 7,
Dxplgigtkry iktds, E.B.D. Qtgtesteagl Bgtg Qdreds Ik.:5, Eistetutd kn Bdvdlkpeio
Dakikceds, MDRXK.
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Rrgbd ei vglud-gbbdb= Gi Dgst Gsegi pdrspdatevd
1?
Cdio, H., I. Ugcgik gib U. Ngio (8078) Cdgsureio olkhgl vglud ajgeis gib rdoekigl
dakikcea eitdorgteki= gi eitdrigtekigl eiputkutput gpprkgaj, EBD Besausseki PgpdrQdreds Ik.1>8
_RK gib EBD-MDRXK (8077) Rrgbd pgttdris gib olkhgl vglud ajgeis ei Dgst Gseg=
Nrkc trgbd ei okkbs tk trgbd ei tgsfs, _RKEistetutd kn Bdvdlkpeio Dakikceds,
MDRXK
Zeio, U. gib I. Bdtdrt (8070) Jkw tjd ePjkid webdis tjd Tietdb Qtgtds trgbd bdneaet
wetj tjd Pdkplds Xdpuhlea kn Ajeig, GBHE _krfeio Pgpdr Qdreds Ik. 84?.
Ghkut tjd gutjkr
Qgtksje Eikcgtges tjd Berdatkr kn Eitdrigtekigl Eiput-Kutput Giglyses Qtubeds Orkup
gt Eistetutd kn Bdvdlkpeio Dakikceas (EBD-MDRXK). Cr Eikcgtg jgs hddi eivklvdb
ei tjd akistruateki kn tjd Gsegi Eitdrigtekigl Eiput-Kutput Rghlds (GEKR) gib tjd
8004 HXEAs Eitdrigtekigl Eiput-Kutput Rghld. Jd rdadevdb jes C.Qa. ei Bdvdlkpcdit
Dakikceas nrkc tjd Tievdrsety kn Kxnkrb.
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15
Uuqeio ZeioGsegi Bdvdlkpcdit Hgif Eistetutd
Akivditekigl trgbd tjdkry suoodsts tjgt dxajgiod rgtds plgy g areteagl rkld ei bdtdrceieio
tjd akcpdtetevdidss kn g akuitry ei tjd olkhgl cgrfdt. En g akuitrys aurrdiay gpprdaegtds,
ets dxpkrts hdakcd ckrd dxpdisevd gib tjus nkrdeoi bdcgib bdardgsds, wjeld ecpkrts
hdakcd ajdgpdr gib bdcgib nkr tjdc eiardgsds. Akisdquditly, tjd trgbd surplus
sjreifs. Nkllkweio tjes secplestea vedw, cuaj kn tjd bdhgtd kvdr olkhgl echglgiads jgs
nkausdb ki tjd dxajgiod rgtd rdoecd kn tjd Pdkplds Xdpuhlea kn Ajeig (PXA). Bdspetd
gi gpprdaegteki kn ckrd tjgi 10% kn tjd yugis vglud gogeist tjd TQ bkllgr, tjdrd es
lettld dvebdiad tjgt tjes jgs jdlpdb ceteogtd tjd PXAs trgbd surplus. Ei ngat, dcpereagldvebdiad sjkws tjgt vgregtekis ei dxajgiod rgtds jgvd surpreseioly scgll dnndats ki
preads kn trgbdb okkbs. Rjes gppgrdit besakiidateki es kid kn tjd aditrgl puzzlds ei
eitdrigtekigl cgarkdakikceas (Gcete dt gl. 8071).
Rjd akivditekigl vedw ki tjd idxus hdtwddi dxajgiod rgtds gib trgbd es hgsdb ki
kutbgtdb gssucptekis tjgt tjd diterd vglud-gbbdb kn g akuitrys dxpkrts es prkbuadb
bkcdsteaglly, gib gll ecpkrts dxalusevdly sdrvd bkcdstea akisucpteki gib eivdstcdit.
Rjd ngat es tjgt eitdrigtekigl trgbd kn cgiungaturdb prkbuats, ei pgrteaulgr einkrcgteki
akccuieagteki tdajiklkoy prkbuats, es ckrd skpjesteagtdb tjgi bureio tjd tecd
kn tjd Hretesj dakikcest Bgveb Xeagrbk. Prklendrgteki kn arkss-akuitry prkbuateki
nrgocditgteki gib olkhgl prkbuateki idtwkrfs jgs nuibgcditglly ajgiodb tjd vdry
igturd kn eitdrigtekigl trgbd. Eitdorgteki kn prkbuateki prkadssds, wjeaj eivklvds
sdquditegl, vdrteagl trgbeio ajgeis strdtajeio garkss cgiy akuitreds, jgs trgisnkrcdb
tjd trgbeio kn cgiungaturdb okkbs tk dssditeglly trgbeio tgsfs (Orksscgi gib Xksse-
4 Xdtjeifeio tjd ecpgat kndxajgiod rgtds ki trgbd
idtwkrfs
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Rjd Nuturd kn tjd _krlb Rrgbeio Qystdc= Gsegi Pdrspdatevds
20
Jgishdro 800:). Rjdrdnkrd, vglud-gbbdb, dchdbbdb ei prkbuats cgiungaturdb glkio
olkhgl prkbuateki idtwkrfs, es ikt gttrehutdb tk giy seiold akuitry, hut tk gll akuitredseivklvdb ei tjd prkadss. Xdogrbldss kn wjdtjdr nercs jgvd tjd ckikpklestea pkwdr tk
diogod ei dxajgiod rgtd pgss-tjrkuoj, tjd aurrdiay gpprdaegteki kn g seiold akuitry
wkulb jgvd g vdry lecetdb dnndat ki tjd akst kn prkbuats bdseoidb, cgiungaturdb gib
bestrehutdb hy olkhgl supply ajgeis.
Rgfeio tjd ePjkid gs gi dxgcpld, cgiungatureio ePjkids eivklvds ieid akcpgieds
lkagtdb ei tjd PXA, Odrcgiy, Mgpgi, Xdpuhlea kn Fkrdg gib tjd TQ. Gll akcpkidits
prkbuadb hy tjd suppledrs ki tjd ePjkid olkhgl supply ajgei grd sjeppdb tk Nkxakii, g
Rgepde,Ajeig akcpgiy lkagtdb ei Qjdizjdi, tjd PXA, nkr gssdchly eitk tjd neigl prkbuat
gib tjdi dxpkrtdb tk tjd TQ gib tjd rdst kn tjd wkrlb. Ei 8005, ePjkids akitrehutdb
TQ$7.5 helleki tk tjd TQ trgbd bdneaet, dquevgldit tk ghkut 0.:% kn tjd tktgl TQ trgbd
bdneaet wetj tjd PXA (Zeio gib Bdtdrt 8070). Agi wd dxpdat g 40% gpprdaegteki kn
tjd yugi gogeist tjd TQ bkllgr tk rdbuad tjd bdneaet gsskaegtdb wetj ePjkid trgbd; Rjes
es jeojly uilefdly. Ajeidsd wkrfdrs akitrehutd g cdrd $>.4, ghkut 1.>%, kn tjd tktgl
ePjkid cgiungatureio akst kn $7:0. G 40% gpprdaegteki kn tjd yugi wkulb kily gnndat
tjd $>.4 gssdchly akst cgtdreglesdb ei tjd PXA, ikt tjd diterd cgiungatureio akst $7:0.
Rjd gpprdaegteki wkulb, gt ckst, rgesd tjd cgiungatureio akst kn tjd ePjkid hy $1.84,
wjeaj es eiseoieneagit akcpgrdb tk tjd $400 rdtgel pread. Jdiad, gi gpprdaegteki kn tjd
yugi wkulb ikt gnndat tjd pread kn tjd ePjkid, gib tjd TQ trgbd bdneaet bud tk ePjkid
trgbd wkulb ikt sjreif. Ei 8077, tjd PXA dxpkrtdb 12 celleki ePjkids tk tjd TQ, trepld
tjd vklucd kn 8005, bdspetd tjd stdgby gpprdaegteki kn tjd yugi. Rjes es uigcheoukus
dvebdiad suppkrteio tjd besakiidateki hdtwddi dxajgiod rgtds gib nlkws kn okkbs
prkbuadb glkio olkhgl prkbuateki idtwkrfs.
Ei gbbeteki, nevd benndrdit akuitreds grd eivklvdb ei cgiungatureio ePjkids, gib
aurrdiaeds kn tjdsd nevd akuitreds cgy ikt ckvd ei tjd sgcd berdateki. Et es pkssehld
tjgt ktjdr aurrdiaeds ceojt bdprdaegtd gogeist tjd TQ bkllgr wjeld tjd yugi gpprdaegtds.
Rjes secultgidkus bdprdaegteki kn ktjdr aurrdiaeds wkulb knnsdt tjd pktditegl idogtevd
ecpgat kn tjd yugis gpprdaegteki ki tjd cgiungatureio akst kn tjd ePjkid. Rjdrdnkrd,
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27
tk gaaurgtdly dxgceid tjd ecpgat kn dxajgiod rgtds ckvdcdits ki tjd akst kn
cgiungatureio ePjkid, tjd idt dnndat kn gll aurrdiaeds eivklvdb sjkulb hd dstecgtdbeistdgb kn nkauseio ki kid seiold aurrdiay.
Rjd ePjkid es g typeagl dxgcpld kn g prkbuat cgiungaturdb glkio olkhgl prkbuateki
ajgeis. Rjd sgcd lkoea agi hd gppledb tk gll dxpkrts wjeaj grd cgbd kn ecpkrtdb pgrts
gib cgiungaturdb tjrkuoj olkhgl prkbuateki idtwkrfs. Aksts kn ecpkrts akcpresd g
seoieneagit sjgrd kn tjd aksts kn dxpkrts cgiungaturdb useio ecpkrtdb akcpkidits.
_jdtjdr gpprdaegteki kn tjd neigl dxpkrteio akuitrys aurrdiay wkulb rgesd tjd kvdrgll
aksts kn ets dxpkrts, gib dvdituglly uibdrceid ets olkhgl akcpdtetevdidss, bdpdibs ki tjd
rgtek hdtwddi aksts kn ecpkrtdb akcpkidits gib tjd vglud gbbdb odidrgtdb bkcdsteaglly.
Ei Dgst Gseg, tjd prkbuateki idtwkrfs bdvdlkpdb hy culteigtekigl ditdrpresds jgvd
ardgtdb g PXA-aditrdb tregiold trgbd pgttdri= tjd PXA ecpkrts eitdrcdbegtd eiputs nrkc
Dgst Gsegi dakikceds, gssdchlds tjdc eitk neiesjdb prkbuats, gib dxpkrts tjdc tk tjd
TQ gib Durkpdgi cgrfdts (Gtjufkrglg 8077). Rjd PXAs prkadsseio trgbd gaakuitdb
nkr 700% kn ets trgbd surplus ei 800:. ??% kn ets prkadsseio ecpkrts kreoeigtdb ei Dgst
Gsegi dakikceds suaj gs Mgpgi, Rgepde,Ajeig, gib Xdpuhlea kn Fkrdg, wjeld ckrd tjgi
?0% kn ets prkadsseio dxpkrts wdrd bdsteidb nkr cgrfdts kutsebd kn Dgst Gseg (Zeio
8078). Rjes ecpleds tjgt tjd akcpdtetevdidss kn Ajeidsd prkadsseio dxpkrts bdpdibs
ikt kily ki tjd dxajgiod rgtd kn tjd yugi, hut glsk ki tjd dxajgiod rgtds kn ktjdr Dgst
Gsegi aurrdiaeds.
Akisebdreio tjgt bkcdstea akitdit rdprdsdits kily g scgll pkrteki kn tjd tktgl vglud kn
tjd PXAs prkadsseio trgbd, g uielgtdrgl gpprdaegteki kn yugi cgy jgvd lecetdb ecpgatki tjd PXAs prkadsseio dxpkrts. Rjdrd es, ei ngat, dcpereagl dvebdiad tk suppkrt tjes
tjdses6 Rjkrhdafd gib Qcetj (8070) akistruat gi eitdorgtdb dxajgiod rgtd g wdeojtdb
dxajgiod rgtd hdtwddi tjd yugi gib tjd aurrdiaeds kn ktjdr Dgst Gsegi dakikceds
gaakrbeio tk tjd ecpkrtgiad kn tjder trgbd wetj tjd PXA. Rjdy neib tjgt g mkeit
gpprdaegteki kn Dgst Gsegi aurrdiaeds es ckrd dnndatevd ei rdbuaeio tjd PXAs trgbd
surplus tjgi g uielgtdrgl gpprdaegteki kn tjd yugi.
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Rjd Nuturd kn tjd _krlb Rrgbeio Qystdc= Gsegi Pdrspdatevds
28
Nurtjdrckrd, gs akivditekigl rdgl dnndatevd dxajgiod rgtds (XDDX), hgsdb ki orkss
trgbd nlkws gib akisucdr pread eibeads, grd ikt akcpgtehld wetj trgbd nlkws tjrkuojvdrteagl spdaeglesgtekis, Hdcs gib Mkjiski (8078) prkpksd g vglud-gbbdb XDDX, ei
wjeaj tjd wdeojts kn trgbeio pgrtidrs grd oevdi hy helgtdrgl trgbd ei vglud-gbbdb. Gs
vglud-gbbdb XDDX tgfds olkhgl vglud ajgeis eitk gaakuit ei gssdsseio akcpdtetevdidss,
tjdy suoodst tjgt tjd vglud-gbbdb XDDX agi hd usdb gs gi gltdrigtevd tk dvglugtd tjd
ecpgat kn dxajgiod rgtds ki tjd akcpgrgtevd gbvgitgod kn akuitreds pgrteaepgteio ei
olkhgl prkbuateki idtwkrfs.
Ckrdkvdr, cgiy akuitreds glkio olkhgl prkbuateki idtwkrfs iddb tk ecpkrt g lgrod
qugitety kn pgrts gib akcpkidits tk cgiungaturd prkadsseio dxpkrts. Gs tjd olkhgl
gssdchly aditrd, tjd PXA ecpkrtdb $2:7 helleki ei pgrts gib akcpkidits, dquevgldit tk
8?% kn ets tktgl ecpkrts ei 8078. Rjdsd feibs kn ecpkrts bk ikt rdspkib tk tjd ckvdcdit
kn dxajgiod rgtds ei tjd trgbetekigl ngsjeki6 prkadsseio ecpkrts wkulb bdardgsd rgtjdr
tjgi eiardgsd en tjd gpprdaegteki kn tjd yugi ldb tk g bdardgsd ei ets prkadsseio dxpkrts.
Dxgceieio tjd dlgsteaety kn tjd PXAs prkadsseio trgbd tk dxajgiod rgtds, E nkuib tjgt
tjd PXAs prkadsseio ecpkrts wkulb ngll hy 4% nkr g 70% rdgl gpprdaegteki kn tjd
yugi (Zeio 8078). Qecelgrly, useio Hdloegi nerc-ldvdl bgtg, Gcete dt gl. (8071) sjkw
tjgt dxpkrtdrs tjgt ecpkrt g lgrod sjgrd kn eiputs pgss ki g cuaj scglldr sjgrd kn tjd
dxajgiod rgtd sjkafs tk dxpkrts preads. Rjdy groud tjgt ckvdcdits ei tjd vglud kn g
akuitrys aurrdiay grd akrrdlgtdb garkss ets trgbd pgrtidrs, tjus ardgteio g igturgl jdbod
nrkc dxajgiod rgtd ckvdcdits, gib rdbuaeio tjd iddb nkr tjd dxpkrtdr tk gbmust tjder
dxpkrt cgrfdt preads.
G rdadit stuby hy TIARGB (8071) sjkws tjgt nkrdeoi vglud-gbbdb gaakuitdb nkr 17%
kn tjd orkss dxpkrts kn bdvdlkpdb dakikceds, gib 84% kn bdvdlkpeio dakikceds. Rjes
suoodsts tjgt cgiy dakikceds grd ikw eivklvdb ei olkhgl prkbuateki idtwkrfs gib
olkhgl supply ajgeis. Ei g wkrlb brevdi hy olkhgl supply ajgeis, tjd stgibgrb tdxthkkf
rdlgtekisjep hdtwddi dxajgiod rgtds gib trgbd es kutbgtdb gib ik lkiodr vgleb. Rjd
ckvdcdit kn g seiold akuitrys aurrdiay agiikt bdtdrceid tjd akcpdtetevdidss kn
olkhglly prkbuadb dxpkrts.
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21
Xdndrdiads
Gcete, C, K. Etsfjkfe gib M. Fkieios, M. (8071), _jy bk lgrod ckvdcdits ei dxajgiod
rgtds jgvd scgll dnndats ki eitdrigtekigl preads, ^kxDT.kro, 75 Mgiugry.
Gtjufkrglg, P. (8077), Prkbuateki idtwkrfs gib trgbd pgttdris ei Dgst Gseg=
rdoekiglezgteki kr Olkhglezgteki;,Gsegi Dakikcea Pgpdrs70(7)= >4-54.
Hdcs, X. gib X. Mkjiski (8078), ^glud-gbbdb dxajgiod rgtds, ^kxDT.kro, >
Bdadchdr.
Orksscgi, O. gib D. Xksse-Jgishdro (800:), Rrgbeio tgsfs= g secpld tjdkry kn
knnsjkreio,Gcdreagi Dakikcea Xdvedw5:(4)=75?:-755?.
Rjkrhdafd, _. gib O. Qcetj (8070), Jkw wkulb gi gpprdaegteki kn tjd rdiceihe
gib ktjdr Dgst Gsegi aurrdiaeds gnndat Ajeigs dxpkrts;, Xdvedw kn Eitdrigtekigl
Dakikceas7:(7)= 54-70:.
TIARGB (8071), Olkhgl glud Ajgeis gib Bdvdlkpcdit= eivdstcdit gib vglud gbbdbtrgbd ei tjd olkhgl dakikcy, Odidvg= TIARGB.
Zeio, U. (8078), Prkadsseio trgbd, dxajgiod rgtds gib Ajeigs helgtdrgl trgbd hglgiads,
Mkurigl kn Gsegi Dakikceas81= 420-42?.
Zeio, U gib I. Bdtdrt (8070), Jkw tjd ePjkid webdis tjd Tietdb Qtgtds trgbd bdneaet
wetj tjd Pdkplds Xdpuhlea kn Ajeig, GBHE wkrfeio pgpdr Ik. 84?.
Ghkut tjd Gutjkr
Uuqeio Zeio es Berdatkr kn Agpgaety Huelbeio gib Rrgeieio, Gsegi Bdvdlkpcdit
Hgif Eistetutd, gib Prkndsskr kn Dakikceas, Igtekigl Orgbugtd Eistetutd nkr Pkleay
Qtubeds, Rkfyk. Br. Zeios rdsdgraj nkausds ki eitdrigtekigl trgbd, NBE, dxajgiod
rgtds, gib rdoekigl dakikcea eitdorgteki ei Gseg. Jd jgs puhlesjdb iucdrkus grtealds
ei eitdrigtekiglly rdndrddb mkurigls. Jes puhlesjdb rdsdgraj ki tjd ePjkid gib tjd Qeik-
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Rjd Nuturd kn tjd _krlb Rrgbeio Qystdc= Gsegi Pdrspdatevds
22
TQ trgbd hglgiad jgs hddi besaussdb webdly ei tjd cgeistrdgc cdbeg, suaj gs Rjd
_gll Qtrddt Mkurigl, tjd Neigiaegl Recds,Rjd Idw Ukrf Recds, Recd Cgogzeid, dta.,ajglldioeio akivditekigl vedws ki helgtdrgl trgbd stgtesteas gib eisteogteio g rdnkrc kn
trgbd stgtesteas. Cr. Zeio dgridb jes H.Q. gib C.G. bdordds nrkc Pdfeio Tievdrsety,
PXA gib rdadevdb g Pj.B. ei dakikceas nrkc tjd Tievdrsety kn Elleikes gt Trhgig-
Ajgcpgeoi, TQ.
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24
Ogidsjgi _eoigrgmgGsegi Bdvdlkpcdit Hgif Eistetutd
G spktleojt ki QCDs
QCDs grd tjd hgafhkid kn dakikcea bdvdlkpcdit ei Gsegi dakikceds, gaakuiteio nkr
tjd cgmkrety kn nercs gib g lgrod sjgrd kn dcplkycdit (Jgved 8070). Ngaeio gi kutlkkf
kn nrgoeld wkrlb orkwtj, tjd Gsskaegteki kn Qkutj Dgst Gsegi Dakikceds (GQDGI) gib
Dgst Gseg Quccets ei 8077 dcpjgsesdb tjd rkld kn QCDs ei eiardgseio eitrg-rdoekigl
trgbd gib dijgiaeio eialusevd orkwtj ei Gseg. Rjd pkleay nkaus ki QCDs well eitdiseny
wetj upakceio rdoekigl trgbd lehdrglesgtek