For Daily Job Alert Join Our Whats App Channel
For Free Study Material Join Our Telegram Channel

Stay with RCEP

India must not take the easiest way out on the trade deal and walk out of talks
Negotiations on the Regional Comprehensive(व्यापक/विस्तृत) Economic Partnership, among 16 Asian and Pacific(शांत) Ocean countries, have entered a decisive(निर्णायक) phase(चरण). Most potential(संभावित/क्षमता) member-countries of the grouping, that comprises the 10 ASEAN members and their Free Trade Agreement partners, Australia, China, India, Japan, New Zealand and Republic of Korea, would like to see a “substantive(वास्तविक) agreement” on the trade deal by the end of this year. At a meeting in Singapore, which is driving the effort as the current ASEAN chair, countries which still have issues with the outline of the agreements reached so far may be told politely(विनम्रता )to step aside and allow a smaller group to go ahead with finalising(अंतिम रूप देने से/समाप्त करना) the RCEP, with the option to join it at a later date. India is among the countries that will have to take a call at this point, and the government’s decision to set up a group of four ministers to advise Prime Minister Narendra Modi on the path ahead indicates(प्रकट करना/सूचित करना) the seriousness of the situation. India’s concerns with RCEP negotiations(वार्ता/जीत पाना) thus far are manifold(विविध/अनेक), but some have been addressed. The first is the greater access Chinese goods will have to the Indian market, a problem given India’s massive(विशाल/बड़े पैमाने का) trade deficit(कमी).To circumvent(बिगाड़ना/धोखा देना) this, given that India is the one country that doesn’t have an FTA with China, the government has proposed a “differential market access” strategy(रणनीति) for China, which others are inclined(झुका हुआ/प्रवृत्त) to accept. After the Wuhan summit, India and China have made progress on addressing the trade deficit, with China increasing access for Indian goods such as pharma and agricultural products. The second concern(चिंता/मामला) is about demands by other RCEP countries for lower customs duties on a number of products and greater access to the market than India has been willing to provide. On the other hand, the more developed RCEP countries such as Australia and Singapore have been unwilling(अनिच्छुक) to accommodate(समायोजित/झगड़ा तय करना) India’s demands to liberalise(मुक्त करना/स्वतंत्र करना) their services regime and allow freer mobility(गतिशीलता/परिवर्तनीयता) of Indian workers.

Naturally, none of this is made easier by the fact that some of the RCEP countries, including India, are headed for elections next year, a point where governments traditionally(पारंपरिक रूप से) turn protectionist(संरक्षणवादी). Despite(बावजूद/विरोध से)these concerns, the government must take into account the deeper strategic pitfalls(नुकसान) of either slowing down India’s RCEP engagement or walking out of the talks at this stage. Doing so would cut India out of the rules-making process for the RCEP and give China further space in the regional trade and security architecture(वास्तुकला/घर बनाने की कला). At a time when the U.S. has broken(टूटा हुआ/छिन्न-भिन्न) from the global concord on multilateral trade agreements, an Indian walkout would endanger(जोखिम में डालना/संकट में डालना) the united message that RCEP countries, which represent 40% of the global GDP, would wish to send out. It would also be a sharp departure from India’s “Act East” slogan and its extended(विस्तारित/प्रसारित)outreach to ASEAN.



Important Vocabulary

Synonyms: calm, friendly, neutral, quiet, amicable
Antonyms: agitated, loud

Synonyms: assorted, complex, diversified, multiple, multiplied
Antonyms: same, one, single, sole

3.Inclined(झुका हुआ)/प्रवृत्त
Synonyms: apt, prone, willing, disposed, given
Antonyms: unwilling

4.Despite(बावजूद/विरोध से
Synonyms:against, although, even though, even with, in contempt of

5.Broken(टूटा हुआ/छिन्न-भिन्न) 
Synonyms: busted, collapsed, cracked, crippled, crumbled
Antonyms: perfect, unbroken, OK, complete, connected

6. Pitfalls(नुकसान
Synonyms: danger, difficulty, drawback, peril, risk
Antonyms: advantage, safety, security, blessing, good luck

7.liberalism(मुक्त करना/स्वतंत्र करना) 
Synonyms: liberalism
capitalism, free competition, free economy, free market

8.circumvent(बिगाड़ना/धोखा देना) 
Synonyms:avoid, bypass, deceive, evade, prevent
Antonyms: aid, assist, encourage, face, help

Synonyms: flexibility, maneuverability, motility, movability, portability





Please enter your comment!
Please enter your name here