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Forbes magazine ranked German Chancellor Angela Merkel the most powerful woman in the world for the second year in a row in the annual list dominated by politicians, businesswomen and media figures.
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US Secretary of State Hillary Clinton is placed second in the list. Clinton was applauded for her handling of crises such as the release of a trove of diplomatic cables by the anti-secrecy group WikiLeaks.
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Brazilian President Dilma Rousseff is next in the list, making the top three spots unchanged from last year. Forbes cited Rousseff for her leadership of the world's eighth-largest economy and approval ratings within her country.
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Melinda Gates, co-chair of the Bill and Melinda Gates Foundation and wife of Microsoft Corp co-founder Bill Gates is fourth in the list.
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58-year-old Jill Abramson the Executive Editor of New York Times made it to the fifth spot.
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Sonia Gandhi, president of the Indian National Congress, follows at number six.
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US First Lady Michelle Obama, who had topped the list in 2010, is at number 7.
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Christine Lagarde, Managing Director of International Monetary Fund is next in the list. She is the first woman to run IMF.
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Janet Napolitano, the first female head of the Department of Homeland Security, United States is at number 9.
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Sheryl Sandberg who has spent four years as Facebook's COO is at number 10.
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