TOPIC OF THE DAY- A) Life without GSP
“India must not underestimate the impact of the U.S. withdrawal of trade privileges”
The U.S. has ultimately acted on its threat to withdraw concessions granted to Indian imports under the Generalised System of Preferences. With President Trump indicating as much in a letter to the House of Representatives and Senate, Washington became the first to pull the trigger in a long trade stand-off between the two countries. India-U.S. trade tensions escalated last year when the U.S. took two consecutive decisions to increase import tariffs on steel and aluminium, and place India’s eligibility for GSP benefits under review. Shortly after, India said it would impose retaliatory tariffs on imports from the U.S. and even notified the list of items on which these would apply. Meanwhile, the U.S. stood fast on not exempting India from its tariff hikes, with Mr. Trump complaining about India’s high import tariffs several times. The GSP review, however, stretched on, with the two countries holding frequent talks to address the concerns. India, for its part, postponed the deadline for the imposition of the retaliatory tariffs six times; the latest deadline is on April 1. Washington’s decision to review India’s GSP status stemmed from complaints from American medical and dairy industries, both of which said India was not providing “equitable and reasonable access to its market”. India has said it had tried hard to cater to most of the U.S. demands and reach an understanding, but key points of difference, especially regarding India’s cultural concerns to do with dairy products, could not be accommodated. Given this, and the fact that the U.S. has been expressing discontent over India’s policies to do with data localisation and FDI rules in e-commerce, the decision to withdraw the GSP status should not come as a surprise. The question is, how will New Delhi react? Following the U.S. announcement, the Commerce Ministry was quick to downplay the impact, saying the GSP benefits amounted to only $190 million while India’s total exports under GSP to the U.S. stood at $5.6 billion. Indian officials have stressed that talks on the issue would still continue during the 60-day period after which the GSP decision would come into effect. The other option the government can exercise is to impose retaliatory tariffs on U.S. goods. The government’s efforts to downplay the impact of the withdrawal of GSP status and express readiness for more talks, however, suggest it is not keen to take a decisively strong stance. It bears emphasis that while the actual amounts at stake are relatively small, with even India’s proposed tariffs on the U.S. amounting to just $900 million, the impact on small industries in the country could nevertheless be significant. Export bodies have already said that such industries would lose their market share in the U.S. without fiscal support to help them maintain their edge. In its absence, orders meant for India could go to other GSP countries, signs of which are already evident.
B) Algeria for change
“President Bouteflika should withdraw his re-election bid”
Algerians have been protesting against their ailing 82-year-old President, Abdelaziz Bouteflika, who is seeking a fifth term in elections next month. On the last day to file nominations, it was announced that the veteran would cut short his rule if he is re-elected and initiate constitutional reforms. But such vague assurances have had little impact on the protesters in the hydrocarbon-rich nation who are becoming increasingly frustrated with the lack of education and employment opportunities. Mr. Bouteflika, credited with restoring stability in Algeria after a bloody civil war in the 1990s between Islamist insurgents and the military, has remained a figurehead in recent years. Though he has held the post of President since 1999, ever since he suffered a stroke in 2013 he has hardly been seen in public. That, however, did not stop him from contesting the 2014 elections, which he won with a thumping majority, despite being out of action on the campaign trail. But the removal of top-ranking military and intelligence officials in subsequent years sparked speculation about who was really in charge. The government’s modus vivendi in the years following the civil war was to clamp down on dissent, and hand out generous welfare benefits. Given the turbulence of the civil war years, the initial stability worked well in a country that had grown wary of change. Persisting in that approach enabled the ruling inner coterie to wield real power on behalf of the President. The status quo was allowed to persist as the opposition parties failed to rise above their divisions. Algiers even evaded the anti-establishment fervour that had swept several northern African countries during the Arab Spring. Now, Algerians are demonstrating a resolve to move on from being seen as dependents on the state, to assert their rights as citizens. Mr. Bouteflika’s latest re-election bid is being seen as a cynical manoeuvre by his inner circle. The voices of opposition have grown louder, as depleting oil revenues render the government’s welfare programmes less sustainable. Moreover, the ruling National Liberation Front’s contemptuous remarks against the clamour for change have incensed the public. Unlike in the past, the security forces have been more muted in their response so far. Thus, the government could well be misreading the situation if it believes the crisis will blow over. The military could be making a mockery of the electoral process by insisting on Mr. Bouteflika’s candidacy, in effect undermining the highest elected office. It cannot reduce a vibrant society to one that is democratic only in name. Mr. Bouteflika, who is reported to be operating from a hospital in Switzerland, should withdraw from the fray. Algeria needs a new beginning.
MEANINGS AND WORDS
1) escalated
Meaning : increase rapidly(v).
Synonyms : expand
Antonyms : decrease
Example : “the price of tickets escalated”
2) impose
Meaning : force (an unwelcome decision or ruling) on someone(v).
Synonyms : establish
Antonyms : displace
Example : “the decision was theirs and was not imposed on them by others”
3) retaliatory
Meaning : (of an action) characterized by a desire for revenge(adj).
Synonyms : vindictive
Antonyms : beneficial
Example : “fears of a retaliatory attack by the victim’s friends”
4) exempting
Meaning : free (a person or organization) from an obligation or liability imposed on others(v).
Synonyms : absolved
Antonyms : hindered
Example : “they were exempted from paying the tax”
5) concerns
Meaning : relate to; be about.
Tamil Meaning :
Synonyms : involvement
Antonyms : disinterest
Example : “the story concerns a friend of mine”
6) discontent
Meaning : dissatisfaction with one’s circumstances; lack of contentment.
Synonyms : regret
Antonyms : contentedness
Example : “voters voiced discontent with both parties”
7) impact
Meaning : the action of one object coming forcibly into contact with another(n).
Synonyms : brunt
Antonyms : avoidance
Example : “there was the sound of a third impact”
8) stance
Meaning : the way in which someone stands, especially when deliberately adopted (as in cricket, golf, and other sports); a person’s posture(n).
Synonyms : posture
Example : “she altered her stance, resting all her weight on one leg”
9) contesting
Meaning : engage in competition to attain (a position of power)(v).
Synonyms : posture
Antonyms : collaborate
Example : “she declared her intention to contest the presidency”
10) thumping
Meaning : pounding or throbbing in a heavy, continuous way(adj).
Synonyms : bang
Antonyms : small
Example : “the thumping beat of her heart”
11) despite
Meaning : contemptuous treatment or behaviour; outrage(n).
Synonyms : against
Example : “the despite done by him to the holy relics”
12) trail
Meaning : draw or be drawn along behind someone or something(v).
Synonyms : stream
Antonyms : excel
Example : “Alex trailed a hand through the clear water”
13) speculation
Meaning : the forming of a theory or conjecture without firm evidence(n).
Synonyms : belief
Antonyms : reality
Example : “there has been widespread speculation that he plans to quit”
14) dissent
Meaning : the holding or expression of opinions at variance with those commonly or officially held(n).
Synonyms : discord
Antonyms : acceptance
Example : “there was no dissent from this view”
15) wary
Meaning : feeling or showing caution about possible dangers or problems(adj).
Synonyms : considerate
Antonyms : certain
Example : “dogs which have been mistreated often remain very wary of strangers”
16) Persisting
Meaning : continue in an opinion or course of action in spite of difficulty or opposition(v).
Synonyms : endure
Antonyms : cease
Example : “the minority of drivers who persist in drinking”
17) wield
Meaning : hold and use (a weapon or tool)(v).
Synonyms : employ
Antonyms : ignore
Example : “a masked raider wielding a handgun”
18) persist
Meaning : continue in an opinion or course of action in spite of difficulty or opposition(v).
Synonyms : endure
Antonyms : cease
Example : “the minority of drivers who persist in drinking”
19) evaded
Meaning : escape or avoid (someone or something), especially by guile or trickery(v).
Synonyms : avoid
Antonyms : confront
Example : “friends helped him to evade capture for a time”
20) fervour
Meaning : intense and passionate feeling(n).
Synonyms : passion
Antonyms : detest
Example : “he talked with all the fervour of a new convert”
21) swept
Meaning : brush (hair) back from one’s face or upwards(v).
Synonyms : clear
Antonyms : dirty
Example : “long hair swept up into a high chignon
22) assert
Meaning : state a fact or belief confidently and forcefully(v).
Synonyms : allege
Antonyms : abandon
Example : “the company asserts that the cuts will not affect development”
23) bid
Meaning : offer (a certain price) for something, especially at an auction(v).
Synonyms : offer
Antonyms : withdrawal
Example : “a consortium of dealers bid a world record price for a snuff box”
24) depleting
Meaning : use up the supply or resources of(v).
Synonyms : decrease
Antonyms : develop
Example : “reservoirs have been depleted by years of drought”
25) render
Meaning : provide or give (a service, help, etc.)(v).
Synonyms : distribute
Antonyms : hold
Example : “money serves as a reward for services rendered“
26) sustainable
Meaning : able to be maintained at a certain rate or level(adj).
Synonyms : continuous
Antonyms : untenable
Example : “sustainable economic growth”
27) contemptuous
Meaning : showing contempt; scornful(adj).
Synonyms : derisive
Antonyms : humble
Example : “she was intolerant and contemptuous of the majority of the human race”
28) incensed
Meaning : Leonora glared back at him, incensed”
Synonyms : enraged
Antonyms : happy
Example : “Leonora glared back at him, incensed”
29) undermining
Meaning : lessening the effectiveness, power, or ability of someone or something, especially gradually or insidiously.
Synonyms : subversion
Antonyms : backing
Example : “the last straw was an undermining comment questioning my skills”
30) fray
Meaning : (of a fabric, rope, or cord) unravel or become worn at the edge, typically through constant rubbing(v).
Synonyms : brawl
Antonyms : peace
Example : “cheap fabric soon frays”
