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(SgGJDP
 Crecimiento econmico 2007 y 2008

para algunos pases y proyecciones 2009 y 2010

2007
2008 (e)
2009 (p)
2010 (p)

15
10

9,0
6,5

7,5

7,5
5,7
4,2

2,0

2,7
1,1

0
-5

13,0

2,4

2,5

0,9

0,5
-0,4

1,3

5,2
3,2
1,9

1,51,6

-0,6

-1,3

-2,8
-4,2

Mundo

Latinoamrica

Colombia

China

Japn

Zona Euro

Estados Unidos

-6,2

-10

Fuente: FMI - WEO, Abril 2009

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(SgGJDP
 Mercado de hipoteca estodounidense
2004

2003
Subprime
7,9 %

Alt-A
2,2%

Alt-A
6,3%

FHA/VA
5,6%

2005
FHA/VA
4,5%

Alt-A
12,2%

FHA/VA
2,9%

Subprime
18,2 %
Subprime
20,0%
Prime
53,2%

Prime
58,9%

Prime
78,8%

2006
Alt-A
13,4%

2007

FHA/VA
2,7%

Alt-A
11,3%

FHA/VA
4,2%

Subprime
7,9%

Subprime
20,1 %
Prime
49,3%

Prime
62,1%

Fuente: Inside Mortgage Finance, Last update February 8, 2008

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(SgGJDP
 Ahorro nacional. Crecimiento del ahorro domstico
en algunos pases. 2009 (% PIB)

60
50

49.4

40
33.4

%
30

29.8
22.5

23.2

20
8.3

10
0
China

India

Repblica
de Corea

Japn

Alemania

Estados
Unidos

Fuente: EIU estimados. Julio 2009

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(SgGJDP
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70

60

50

40

30
1990

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2000

2002

2004

2006

2008

Pases industrializados
Pases en desarrollo
Fuente: IMF. WEO - Abril 2009. 2009 y 2010 estimado

(SgGJDP
 Aportes de China al PIB mundial, 2000.

Estimaciones en el 2040 segn Fogel. En %

2000

2040 py
Resto
16%

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22%

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28%

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14%
EU (15)
5%

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12%
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6%

EU (15)
21%

Japn
8%
China
11%

India
5%

India
12%

Japn
2%

China
40%

Fuente: Robert Fogel (2007) Capitalism and democracy in 2040: Forescat and speculations.

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(SgGJDP
 Ventas de DVDs en Estados Unidos y Canad.

USD$ Miles de millones

2.0

1.5

1.0

0.5

0
1998

2000

2002

2004

2006

2008 2009

Fuente: The Economist-Digital Entertainment

(SgGJDP
 Penetracin de uso de archivos compartidos

Espaa
Italia
Europa
Gran Bretaa
Estados Unidos
0

10

15

20

25

30

35

Fuente: The Economist-Forrester Research

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(SgGJDP
 Ventas de msica en el mundo
USD$ Miles de millones

Unidades vendidas,
miles de millones

2,96 2,87

Fsico
Digital
Derechos

25
2,97

3,01

3,1

20
15
10
5
0

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(SgGJDP
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La importancia de iPod y Kindle

Creador

Medio receptor y portante

Consumidor

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(SgGJDP


Evolucin del monto promedio correspondiente a gastos

en cultura y medios y del consumo total promedio de los
hogares de 1979 a 2003.

350

300

250

200

150

100
1979

1981

1983

1985

1987

1989

1991

1993

1995

1997

1999

2001

2003

Gastos culturales segn el INSEE

Gastos de consumo de los hogares
Fuente: Les dpenses culture-mdias des mnages en France
(Deps, Ministre de la culture et de la communicatio, 2006)

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(SgGJDP


Elasticidades relacionadas con el ingreso respecto

al gasto en cultura y medios
2,08

Equipos, accesorios e informtica

1,25

Prcticas artsticas y asociativas

1,05

Foto y cine
Equipos de sonido

1,00

Espectculo en vivo

0,96

Cine

0,94
0,89

Servicios para audiovisual

Libros

0,89

Consumo de msica

0,83

Grabadora y video

0,72
0,69

Microcomputadores

0,63

Museos

0,53

Prensa
Suscripcin a televisin

0,50
0,27

Equipos de televisin

0,13

Otras salidas
0

0,5

1,0

1,5

2,0

2,5 %

Elasticidad promedio de los gastos en cultura-medios: 0,78

Fuente: Les dpenses culture-mdias des mnages en France

(Deps, Ministre de la culture et de la communicatio, 2006)

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(SgGJDP
 Gastos en cultura y medios y evolucin del presupuesto

de los hogares
%
4,50

4,25

4,00

3,75

Parte del presupuesto

Tendencia de mediano plazo

3,50
1979

1981

1983

1985

1987

1989

1991

1993

1995

1997

1999

2001

2003

Clculos de Crdoc* a partir de los datos de la contabilidad nacional y de una serie de datos** sobre el nmero de
hogares franceses.
*Centre de recherche pour ltude el lobservation de conditions de vie (Centro de investigacin para el estudio y la
observacin de las condiciones de vida).
**Institut national de la statistique et des tudes conomiques (Instituto nacional de estadstica y estudios econmicos)

Fuente: Les dpenses culture-mdias des mnages en France.

(Deps, Ministre de la culture et de la communicatio, 2006).

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(SgGJDP
 Elasticidad-precio de los gastos en diversin y equipos

en los hogares

Volumen
600
Televisores
500
Computadores

400
Aparatos DVD
de sonido e magen
300

Videos
Descargas eletrnicas

200
Programas y consolas
de juego de video
100

Radios

Aparatos de foto/ptico

0
20

40

60

3
Espectculos
4
5
Libros
Medios
vrgenes
Instrumentos
Cine
Revistas
musicales
Peridicos
2
Lab. fotog.
Discos
Pelculas
y papel fotogrfico
80

100

140 Precio

120

(SgGJDP
 Evolucin de los gastos por rubros en el largo plazo

%
100
90

8%
11%

80
70

23%

60
50
40

35%

Telecomunicaciones

5%

Bienes y servicios
ligados a materiales

23%
58%

Materiales

30
20

37%

10

Bienes y servicios
culturales no
materiales

0
1959 1962 1965 1968 1971 1974 1977 1980 1983 1986 1989 1992 1995 1998 2001 2004 2007

Fuente: Insee, comptes nationaux

(Deps, Ministre de la Culture et de la Communication, 2009)

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(SgGJDP
 Distribucin de las empresas segn el sector

Nmero de empresas

15.000
12.107
9.970

10.000

5.000
1.373
0

Empresas
de edicin

Empresas
audiovisuales

Agencias
de prensa

Fuente: Culture chiffres (Deps, Ministre de la Culture, 2008)

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(SgGJDP
 Estructura comparada de las industrias culturales y los
servicios: distribucin del volumen de negocios segn
el nmero de empleados.

Industrias
culturales

19

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de servicios

81

41
0

20
Menos de 20
asalariados

59
40

60

80

100 %

20 o ms
asalariados

Fuente: Enqute annuelle d entreprise dans les services (Insee),

Enqute annuelle d entreprise dans lindustrie (Sessi),
Systme unif de statistiques d entreprises (Insee)/DEPS

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(SgGJDP
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Ejemplos de contribucin al conjunto de servicios

10

Informtica

Telecomunicaciones

Valor agregado

8
6
Audiovisual
4
Edicin

Arquitectura

Agencias de prensa

0
0

10

Empleo
*Para las actividades de edicin, el empleo se calcula sobre el conjunto de las empresas:
el valor agregado hace referencia al campo de las empresas con 20 asalariados o ms.
Fuente: Enqute annuelle dentreprise dans les services (Insse), Enqute annuelle dentreprise dans
lindustrie (Sessi)/DEPS

(SgGJDP
 Margen de la actividad audiovisual y las agencias

de prensa
45

Actividades audiovisuales
Cine y video

40

Produccin de pelculas institucionales y publicitarias

Prestaciones tcnicas para cine y televisin

10

Proyeccin de pelculas cinematogrficas

18

Produccin de pelculas para la televisin

45

Produccin de pelculas para cine

46

Distribucin de pelculas cinematogrficas

75

Edicin y distribucin de video

83

Radio

25

Televisin

54
23

Edicin de canales temticos

Produccin de programas de televisin

35

Edicin de canales generales

58

Distribucin de paquetes de programas de radio y televisin

72

Agencias de prensa

7
0

20

40

60

80

100 %

Fuente: Enauete annuelle dentreprise dans lindustrie (Sessi)

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(SgGJDP
 Flujos de informacin material, social y simblica de
informacin en las industrias creativas

Arquitectura

Moda
Danza

Deportes
y juegos

Impresos

Sonidos

Conciertos

Imgenes

Turismo

Teatro

Diseo

UFOEFODJBT
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(SgGJDP
 Tamaos relativos de los sectores econmicos

en trminos de valor agragado, Alemania, 2006.

Fuente: Sndermann 2009

80

3,2%

3,1%
2,6%

60

2,1%
40

1,9%

20

Construccin
mecnica

Industria
automotriz

Industrias
creativas

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de energa

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(SgDP
. Clculos de la contribucin de las industrias creativas al PIB de cinco
pases de la OCDE.
Australia
Industrias
creativas

Canad

Francia

Gran Bretaa

Estados Unidos

Millones
de $
austr.

% PIB

Millones
de $
canad.

% PIB

Millones
de

% VAB

Millones
de

% VAB

Millones de
$ EEUU

% VAB

2.464*

0,50

2.856*

0,30

11.858*

0,80

5.000

0,70

20.835*

0,20

Arquitectura

788*

0,10

1.084*

0,10

2.524*

0,20

4.000

0,50

19.111*

0,20

Video, cine y
fotografa

2.397*

0,40

3.909*

0,40

5.155*

0,40

2.200

0,30

39.076*

0,40

Msica, artes
visuales y
escnicas

952*

0,20

2.576*

0,20

3.425*

0,20

3.700

0,50

30.294*

0,30

Edicin/medios
escritos /

6.590*

1,20

19.427*

1,80

11.283*

0,80

14.950*

2,10

116.451*

1,10

impresin

5.640*

1,00

n/d

n/d

4.851*

0,30

6.350

0,90

45.662*

0,40

Emisiones Radio
y televisin

3.474*

0,60

5.305*

0,50

4.878*

0,30

6.200

0,90

101.713*

1,00

Negocio de arte
y antigedades

74*

0,00

1.082*

0,10

413*

0,00

500

0,10

195*

0,00

Diseo (incluyendo diseo de

modas)

313*

0,10

1.226*

0,10

363*

0,00

5.630

0,70

13.463*

0,10

Artesanas

n/d*

n/d

n/d

n/d

n/d

n/d

n/d

n/d

n/d

n/d

Total

17.053*

3,10

37.465*

3,50

39.899*

2,80

42.180*

5.80

341.139*

3,30

Total economa
(PIB o VAB)

542.831

100,00

1.069.703

100,00

1.434.812

100,00

732.395

100.00

10.469.601

100,00

Bibliotecas
(incluyendo
archivos)

792.2#

1.236*

0,10

n/d

n/d

n/d

n/d

1.112*

0,00

Museos

716.4#

550*

0,10

148*

0,00

n/d

n/d

3.294*

0,00

Sitios de patrimonio

n/d

n/d

672*

0,10

n/d

n/d

n/d

n/d

508*

0,00

Juegos electrnicos

n/d

n/d

n/d

n/d

8.169*

0,60

20.700

2,80

129.636*

1,20

Publicidad

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(SgGJDP
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Creador

Variaciones de las
sorpresas de ayer

Usuario

copias
vendidas
Guiones
y habilidades

Productor

Presentacin
original

Distribuidor

Fuente: Hutter (2006)

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(SgDP
. Generacin de empleo durante los ltimos 3 aos con respecto
a los programas culturales
Proyectos generados de empleo

Cantidad de
personas contratadas. 2008

Cantidad de
personas contratadas. 2009

Total

Tiempo
completo

100

76

176

Medio tiempo

26

31

57

Proartes

334

566 (proyectado)

910

Festival Internacional de las

Artes (FIA). Festival Nacional de
las Artes (FNA)

300 (FIA)

250 (FNA)

550

Mejoramiento de infraestructura
de los edificios emblemticos

384

548 (proyectado)

932

Programa Becas Taller

27

30

57

Tiempo completo

2.215

2.912

5.127

Medio tiempo

26

31

57

SINEM

TOTAL

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(SgGJDP
 Objetivos de la poltica cultural
CIUDADANA

Garantizar las libertades individuales

de expresin, y comunicacin artstica
Reforzar la sensacin de
pertenencia e identidad
Democratizar la participacin
en la construccin simblica
de una cominidad

Mejorar la calidad de vida

Satisfacer demandas que no posibilita
el mercado
Posibilitar la existencia de
empleos de calidad como los del
sector de la cultura

Generar cohesin social

y otros fines sociales

SECTORES

Generar ocupacin y PIB

Actividad complementaria para
otros sectores productivos

ECONOMA

Generar impacto econmico

Mejorar la actividad
del territorio

Educar, formar
y transmitir valores

TERRITORIO

Democratizar el acceso
a la cultura

SOCIEDAD

Promover la diversidad
Promover la innovacin
sociopoltica
Generar desarrollo
Posibilitar un cambio
de modelo productivo

Fuente: elaboracin propia

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5BCMB
.

Aportacin de las actividades culturales al PIB.

(En miles de euros)
2000

2001

2002

2003

2004

2005

Patrimonio

Ao

472.025

475.558

478.228

570.682

614.299

839.515

Archivos y
Bibliotecas

304.661

392.740

350.855

386.177

371.377

395.288

Libros y Prensa

8.624.793

9.092.155

9.462.487

9.861.043

10.274.905

11.117.664

Artes Plsticas

904.690

897.562

964.009

1.041.620

1.069.517

1.103.264

Artes Escnicas

656.602

714.005

808.076

842.949

885.677

987.999

2.376.424

2.446.432

2.539.068

2.508.357

2.806.805

2.680.597

Audivisual y
Multimedia

Cine y Vdeo
Msica Grabada
Radio y Tv.

Interdisciplinar
Total

392.524

445.435

513.047

533.156

522.576

521.224

3.375.076

3.809.604

4.431.106

4.517.535

4.757.027

4.712.258

1.810.487

2.089.622

2.125.740

2.293.334

2.727.777

3.165.710

18.917.282

20.363.113

21.672.616

22.554.854

24.029.960

25.523.520

Fuente: estimaciones propias.

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5BCMB
.

Aportacin de las actividades culturales al empleo.

Puestos de trabajo equivalentes a tiempo completo (en miles)
2000

2001

2002

2003

2004

2005

Patrimonio

Ao

16,2

17,7

20,2

24,3

31,6

37,4

Archivos y Bibliotecas

10,7

14,7

13,3

13,7

14,4

15,5

Libros y Prensa

242,1

245,8

245,9

241,8

250,1

252,2

Artes Plsticas

29,4

37,1

38,3

40,1

41,4

45,1

Artes Escnicas

29,0

32,0

32,6

29,7

31,0

31,6

Cine y Vdeo

36,6

41,9

46,7

50,6

51,2

55,7

Msica Grabada

11,8

15,7

13,7

14,6

12,6

12,8

Audiovisual y Multimedia

73,4

76,8

86,9

85,8

80,9

82,9

Interdisciplinar

Radio y Tv

80,9

87,4

95,4

92,7

104,0

110,8

Total

530,0

569,0

593,0

593,2

617,4

644,0

Fuente: estimaciones propias.

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5BCMB
.

Productividad de los sectores culturales

y del sector servicios (2000-2005)
2000

2001

2002

2003

2004

2005

Tasa de Variacin Interanual

Total agrupaciones sector

servicios

30.120

30.475

31.896

32.691

33.815

34.949

3,02

Actividades culturales

35.693

35.786

36.548

38.025

38.922

39.632

2,12

Actividades vinculadas a los

derechos de autor *

39.241

40.456

41.747

43.367

44.769

46.272

3,35

Actividades vinculadas a los

derechos de autor OMPI

40.553

41.617

42.787

44.334

45.768

47.249

3,10

Fuente: Instituto Nacional de Estadstica. Encuesta anual de servicios para el sector servicios. Estimacin propia el resto.

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(SgGJDP
 Comparacin de la productividad de los sectores

culturales con la productividad del sector servicios

50.000
Actividades vinculadas a los
derechos de autor OMPI

48.000
46.000
44.000

Actividades vinculadas
a los derechos de autor

42.000
40.000
38.000

Actividades culturales

36 .000
34 .000
Total agrupaciones
sector servicios

32 .000
30 .000
2000

2001

2002

2003

2004

2005

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(SgGJDP
 Productividad de las industrias culturales,

2000-2005

64.000
Radio y televisin

59.000
54.000
49.000

Libros y prensa

44.000

Msica grabada

39.000

Total

34.000
29.000
24.000
19.000

2000

2001

2002

2003

2004

2005

Total

35.693

35.786

36.548

38.025

38.922

39.632

Libros y prensa

35.626

36.990

38.478

40.782

41.075

44.082

Msica grabada

33.405

28.313

37.352

36.561

41.505

40.689

Rdio y Tv.

45.993

49.627

50.997

52.664

58.774

56.812

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Productividad de Patrimonio, Artes Plsticas

y Archivos y Bibliotecas. 2000-2005

(SgGJDP


44.000
39.000
Total
34.000
29.000

Archivos
y bibliotecas

24.000

Artes plsticas
Patrimonio

19.000

2000

2001

2002

2003

2004

2005

Total

35.693

35.786

36.548

38.025

38.922

39.632

Artes plsticas

30.724

24.217

25.189

25.946

25.834

24.473

Archivos y bibliotecas

28.534

26.761

26.434

28.239

25.826

25.517

Patrimonio

29.215

26.849

23.707

23.524

19.436

22.460

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MBT
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NJOJTUSPT
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NJOJTUSPT
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MB
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MB
DVMUVSB
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VO
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MB
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NFKP
SBS
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MB
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MB
DVMUVSB
QBSB
EFTB
SSPMMBS
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QBSB

QSPNPWFS
MB
DVMUVSB
MB
JOEVTUSJB
Z
EFNgT
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DPNP
QBSUF

EF
OVFTUSB
QPMrUJDB
OBDJPOBM
QBSB
MB
QSPNPDJwO
Z
FM
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FDPOwNJDP
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EF
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B
MB
DVMUVSB
EF
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JNQPSUBODJB
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EF
MB
DVMUVSB

FO
VOB
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MB
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EF
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EF
MB
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EF
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MPT
HPCJFSOPT
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MB
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DPO
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RVF
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CSJOEBO

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BM
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MB
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IBZBO
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6OP
EF
MPT
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USBWnT
EF
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EFTFFO
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EF
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JOUFMFDUVBM


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MB

DVMUVSB
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EF
MB

JNQPSUBODJB
EF
MB
DVMUVSB
QBSB
FM
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MBT
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MB
DVMUVSB
FO
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EF
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$POGFSFODJB
EFM
QSPGFTPS
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TF
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MB
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RVF
TJFNQSF
MB

QBMBCSB
DVMUVSB
FT
VO
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1PS
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MB
QBMBCSB
DVM
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EJWFSTPT
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HFOUF
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EF
DVMUVSB
TJO
UFOFS
DPODJFODJB
EF
RVF
WBO
EF
VOP
B
PUSP
TFOUJEP
1SJNFS
TFOUJEP
EF
MB
DVMUVSB
FM
BOUSPQPMwHJDP
-P
RVF
DBSBDUFSJ[B
B
MPT

TFSFT
IVNBOPT
Z
EJGFSFODJB
EF
MPT
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FT
RVF
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BQSFOEFS
TBCFSFT
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FT
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EF
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MBT
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RVF
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EF
VOB
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VOB
QSPWJODJB
RVF
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MJUFSBUVSB
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EF
DVMUVSB
MB
QSJNFSB
VOJWFSTBM
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MB
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QBSUJDVMBS
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MBT
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MB
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VO
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IVNBOP
EF
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MBT
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FT
FWJEFOUF
RVF
OVODB
TF
QVFEF
WFS
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DVMUVSB
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DVMUVSB
TF
WF
B
USBWnT
EF
MBT
DVMUVSBT
EJWFSTBT
1PS
FKFNQMP
FM
MFO
HVBKF
IVNBOP
UJFOF
FO
UPEBT
MBT
TPDJFEBEFT
MB
NJTNB
FTUSVDUVSB
EF
QBMBCSBT

QFSP
MBT
MFOHVBT
TPO
UPEBT
EJWFSTBT
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UPEB
TPDJFEBE
IBZ
N|TJDBT
EJWFSTBT

/P
IBZ
MB
N|TJDB
IBZ
MBT
N|TJDBT
RVF
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WFS
MB
N|TJDB

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VOB
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MBT
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VOJWFSTBMFT
Z
B
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QBSUJDVMBSFT
IVNBOBT
%JHBNPT
MB
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IVNBOB
FT
GVOEBNFOUBM
FO
MB
DVMUVSB
QFSP
FTUB
VOJEBE
TF
USBEVDF
B
USBWnT

EF
MBT
EJWFSTJEBEFT
EF
TJOHVMBSJEBEFT
:
TJ
OPTPUSPT
RVFSFNPT
SFTQFUBS
MB

DVMUVSB
EFCFNPT
SFTQFUBS
MBT
DVMUVSBT
Z
TVT
EJWFSTJEBEFT
QPSRVF
MB
EJWFS
TJEBE
DVMUVSBM
FT
VO
UFTPSP
EF
MB
VOJEBE
IVNBOB
DPNP
MB
VOJEBE
IVNBOB

 $POGFSFODJB
EFM
QSPGFTPS
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FT
FM
UFTPSP
EF
MB
EJWFSTJEBE
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TJHOJDB
RVF
DVBOEP
IBZ
RVF
QSPQBHBS
MB

DVMUVSB
TF
EFCF
BZVEBS
GBWPSFDFS
B
MBT
WBSJBT
DVMUVSBT
TJO
PMWJEBSOPT
RVF

FMMBT
UJFOFO
DPNP
SBTHP
DPN|O
TV
UFYUVSB
MB
DVMUVSB
IVNBOB
MB
VOJEBE

IVNBOB
%PT
TFOUJEPT
EF
MB
QBMBCSB
DVMUVSB
QFSP
IBZ
VO
UFSDFS
TFOUJEP
MMBNB
NPT
FO
HFOFSBM
DVMUVSB
B
MB
DVMUVSB
IVNBOJTUB
FT
EFDJS
B
MB
MJUFSBUVSB
B
MBT

BSUFT
B
MB
N|TJDB
B
MB
QPFTrB
B
MB
MPTPGrB
&TUB
DVMUVSB
IVNBOJTUB
TF
EFTB
SSPMMw
FO
OVFTUSB
DJWJMJ[BDJwO
B
USBWnT
EF
MB
DSFBUJWJEBE
QFSP
TPCSF
UPEP
EF

MPT
FTDSJUPSFT
EF
MB
FOTFvBO[B
FO
MB
FTDVFMB
FO
MB
VOJWFSTJEBE
1FSP
IPZ
ErB

UBNCJnO
IBZ
VOB
DVMUVSB
DJFOUrDB
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RVF
UBOUBT
DPTBT
RVF
IBDFO

QBSUF
EF
OVFTUSP
QBUSJNPOJP
DPHOJUJWP

MMFHBO
EF
MBT
DJFODJBT
1FSP
EFCFNPT

TBCFS
VOB
DPTB
RVF
NF
QBSFDF
NVZ
JNQPSUBOUF
QBSB
VOB
QPMrUJDB
DVMUVSBM
MB

FTUSVDUVSB
EF
MB
DVMUVSB
DJFOUrDB
FT
UPUBMNFOUF
EJWFSTB
EF
MB
FTUSVDUVSB
EF

MB
DVMUVSB
IVNBOJTUB
1PS
RVn
QPSRVF
MB
DVMUVSB
DJFOUrDB
FT
VOB
DVMUVSB

FTQFDJBMJ[BEB
FO
MBT
EJTDJQMJOBT
WBSJBT
Z
FO
HFOFSBM
IBZ
NVDIPT
DPOPDJ
NJFOUPT
RVF
WJFOFO
EF
MB
DVMUVSB
DJFOUrDB
QFSP
RVF
OP
MMFHBO
B
MB
DVMUVSB

IVNBOJTUB
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TF
EB
QPSRVF
IBZ
IPZ
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VOB
TFQBSBDJwO
NVZ
EBvJOB
FOUSF

MB
DVMUVSB
DJFOUrDB
Z
MB
DVMUVSB
IVNBOJTUB
MP
RVF
TJHOJDB
RVF
MB
DVMUVSB
IV
NBOJTUB
FT
DPNP
VO
NPMJOP
RVF
OP
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FM
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QBSB
DPOTVNJS
FT
EFDJS
MF

GBMUB
VOB
DPOFYJwO
CBTUBOUF
HSBOEF
DPO
MPT
DPOPDJNJFOUPT
JNQPSUBOUrTJNPT

EF
MB
DVMUVSB
DJFOUrDB
"IPSB
CJFO
MP
RVF
MF
IBDF
GBMUB
B
MB
DVMUVSB
DJFOUrDB

FT
MP
RVF
DPOUJFOF
MB
DVMUVSB
IVNBOJTUB

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MB
DVMUVSB
DJFOUrDB
FT
EFNBTJBEP
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OP
IBZ
DPO
MB

FYDFQDJwO
EF
BMHVOPT
HSBOEFT
TBCJPT
MB
DBQBDJEBE
EF
SFFYJPOBS
TPCSF
MPT

QSPCMFNBT
GVOEBNFOUBMFT
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4JO
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IBZ
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TPCSF
FMMPT
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WFS
FO
MBT
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EF
4IBLFTQFBSF
FO
MPT
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EF
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FO
MB
PCSB
EF
(BSDrB
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EF
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MF
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B
MPT
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FM
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MPT
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EF
MB
DJFODJB
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RVF
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MP
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NVZ
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RVF
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EF
MBT
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MBT
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OVDMFBSFT
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MPT
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GVOEBNFOUBMFT
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TF
QVFEF
IBDFS
TJ
IBZ
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5BNCJnO
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PUSB
DVMUVSB
RVF
TF
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MMBNBS
DVMUVSB
EF
NBTBT

RVF
FT
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B
USBWnT
EF
NFEJPT
DPNP
MB
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FM
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SB
EF
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VO
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EF
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SBTHPT
EF
MB
DVMUVSB
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EF
MB
DVMUVSB
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UBNCJnO
RVF
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EF
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EF
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EF
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FO
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EF
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FUD
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EF
MB
DVMUVSB

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EF
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FM
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EF
UFBUSP

EF
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EF
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