THE GIST of Editorial for UPSC Exams : 09 March 2020 (Asia-Pacific Economic Cooperation(The Hindu))

Asia-Pacific Economic Cooperation(The Hindu)

Mains Paper 2:International
Prelims level:Asia-Pacific Economic Cooperation
Mains level: Important International institutions, agencies and fora- their structure, mandate

Context:

• APEC was established in 1989 as an intergovernmental platform for 21 Pacific Rim member economies to promote free-trade in the region.
• The grouping is facing the heat of unilateralism and protectionism. Competition and divergence in the form of US-China tensions was on full display at the 2018 APEC summit
• As a result, a debate pertaining to the question of the forum’s enlargement, with pointed reference to India, has started.

APEC Needs India:

• Economic strength of India – As the region’s third largest and one of the fastest growing major economy, India presents the most promising market in the wider Asia-Pacific. India’s burgeoning middle class is .......................................

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Conclusion:

• Strength of the APEC grouping can be gauged from the fact that it represents more than a third of the world population, 47% of global trade and 60% of world GDP.
• However, declining multilateralism, increasing protectionism and incidents like trade war are creating a pressure on this institution to reform.
• Hence, it can be said that without India APEC would not only remain incomplete but also unable to reinvent itself. India, on the other hand, will have to ensure economic reforms and openness to qualify for APEC membership.

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  General Studies Pre. Cum Mains Study Materials

Prelims Questions:

Q.1)With reference to the National Interlinking of Rivers Authority (NIRA), consider the following statements:
1. It is a statutory body established in 2015.
2. As of now, only one Inter-Linking River (ILR) project, the Ken-Betwa is under examination of the authorities.

Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2

Answer: .................................

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Mains Questions:
Q.1) If Asia-Pacific Economic Cooperation (APEC) wants to remain as relevant and look toward a new phase of Asia-Pacific economic integration, it must include India as its member. Comment.