The Hindu Editorial (Caution and clarity) – May 25, 2022

In a sudden decision not previously intimated, India became one of a 13-nation economic initiative led by the U.S., on Monday, as President Joseph Biden unveiled plans for an Indo-Pacific Economic Framework for Prosperity (IPEF). For further reading, visit “The Hindu”. Below is today’s word list-1 for The Hindu Editorial (Caution and clarity) – May 25, 2022.

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The Hindu Editorial (Caution and clarity) – May 25, 2022:

Indo-Pacific Economic Framework for Prosperity (IPEF) – IPEF is a US-led economic initiative launched by US President Joe Biden in Tokyo on 23 May, 2022, ahead of the Quad Summit. It seeks to formulate a common set of rules and standards for member countries around the four pillars of connectivity and digital trade; resilient supply chains; clean energy; and corruption-free fair trade. India agreed to be amongst the first 13 members of the grouping, which also includes Australia, Brunei, Indonesia, Japan, South Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, and Vietnam.
nascence (noun) – a beginning.
rely on (phrasal verb) – depend on, count on , bank on; have recourse to, resort to, fall back on, be dependent on.
promise (noun) – potential, ability, capability, capacity, potentiality.
prospect (noun) – likelihood, hope, expectation, anticipation, chance, probability, possibility.
tangible (adjective) – real, actual, solid, concrete, substantial, well defined.
intimate (verb) – announce, state, reveal, disclose, make known, make public.
unveil (verb) – launch, introduce, release, present, make public.
tout (verb) – endorse, praise, recommend, commend, speak of, urge.
substantial (adjective) – considerable, important, significant, meaningful, valuable.
decade (noun) – a period of ten years.
pivot (noun) – focus, focal point.
heft (noun) – influence, ability; weight/strength.
The Indo-Pacific (region) (noun) – the Indo-Pacific region refers to the confluence (convergence) of the Pacific and Indian Oceans, which interconnect in Southeast Asia (Indonesia, Vietnam, Thailand, Philippines, Malaysia, Singapore, and more).
on the decline (phrase) – declining, becoming worse.
trans-Pacific (adjective) – on, from the other side of, spanning or crossing the Pacific Ocean.
Trans-pacific Partnership (TPP) (noun) – Twelve countries that border the Pacific Ocean and also representing approximately 40% of the world’s GDP signed up to the Trans-pacific Partnership (TPP) in February 2016, in order to eventually create a new single market, like the EU. The TPP countries are Australia, Brunei, Chile, New Zealand, Peru, Singapore, Vietnam, Japan, Malaysia, Canada and Mexico and the 12th nation, the U.S withdraw from the discussions of TTP before it became law.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) (noun) – The CPTPP is a free trade agreement (FTA) between Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, Peru, New Zealand, Singapore and Vietnam. The CPTPP was signed by the 11 countries on 8 March 2018 in Santiago, Chile.
Free Trade Agreement (FTA) (noun) – an agreement between two or more countries designed to reduce or eliminate certain barriers to trade and investment, and to facilitate stronger trade and commercial ties between participating countries.
pillar (noun) – mainstay, strength.
supply-chain (noun) – a network between a company and its suppliers to produce and distribute a specific product to the final buyer.
resilience (noun) – the ability to bounce back quickly from difficulties; strength of character, strength, toughness.
clean energy (noun) – renewable energy, green energy; energy generated from natural resources (such as water, wind & solar energy).
decarbonisation (noun) – the reduction of carbon dioxide emissions through the use of low carbon power sources, achieving a lower output of greenhouse gasses into the atmosphere.
infrastructure (noun) – the basic physical or organisational structure or framework that a country or organization needs in order to function properly. For a whole nation, it includes all the physical systems such as buildings, roads & railways networks, utilities, etc.
fair (adjective) – just, equitable, fair-minded, upright, trustworthy.
resilient (adjective) – strong, sturdy, stout/well built, durable.
attendance (noun) – presence, appearance, participation.
Quad/Quadrilateral (noun) – The ‘Quadrilateral’ is described as four democracies (the United States, Japan, Australia and India) with a shared objective to ensure and support a “free, open and prosperous” Indo-Pacific region.
summit (noun) – meeting, conference, conclave (between the Heads of the member States).
helm (verb) – steer, captain, pilot, direct, manage, navigate; chair, preside over.
launch (noun) – rollout; an official introduction.
hemisphere (noun) – a circle drawn around the Earth divides it into two equal halves called hemispheres.
Eastern hemisphere (noun) – it refers to the area of the Earth east of the prime meridian and west of the International Date Line. This includes much of Europe, Africa, Asia, Australia, and the islands of Oceania. A map centered on the Eastern Hemisphere will have the Indian Ocean basin at the center.
statement (noun) – declaration, affirmation, assertion, announcement.
commitment (noun) – vow, promise, pledge; allegiance, loyalty, faithfulness, fidelity, bond, adherence.
broaden (verb) – widen, increase, enlarge.
walk out (phrasal verb) – depart, leave, get out.
Regional Comprehensive Economic Partnership (RCEP) (noun) – a proposed agreement between the member states of the Association of Southeast Asian Nations (ASEAN) and its free trade agreement (FTA) partners. The pact aims to cover trade in goods and services, intellectual property, etc.
bear scrutiny (phrase) – to withstand scrutiny or criticism; hold water; stand scrutiny, ring true.
willingness (noun) – readiness, preparedness, disposition, inclination, wish, desire.
contour (noun) – outline, shape, form.
stress (verb) – emphasize, draw/focus attention on, underline, underscore, highlight.
make clear (phrase) – explain, elucidate, clarify.
utility (noun) – usefulness, use, advantage, benefit, value, helpfulness.
(be) shorn of (phrasal verb) – to have something important removed from.
rhetoric (noun) – bombast, loftiness, hyperbole/extravagant language.
framework (noun) – structure, system organization.
lend oneself to (phrase) – be suitable for, be appropriate for, be adaptable to, be applicable for.
draw/call into question (phrase) make something seem less certain.
common ground (phrase) – shared opinions, beliefs (or interests).
outlier (noun) – a person/thing detached from the main group.
protectionist (adjective) – relating to the use of tariff and non-tariff restrictions on imports to protect domestic producers from foreign competition.
chafe (verb) – become irritated & lose patience (because of rules and restrictions); feel annoyed, feel frustrated, be impatient.
considerable (adjective) – sizeable, substantial, appreciable, significant.
interest (noun) – common concerns (in politics/business); involvement, partisanship.
trade deficit (noun) – a trade deficit (a deficit in the balance of trade) occurs when the value of a country’s imports exceeds that of its exports. It is also called a trade gap.
Association of Southeast Asian Nations (ASEAN) (noun) – a regional grouping that promotes economic, political, and security cooperation among its ten members: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.
stay out of something (phrase) – to avoid becoming involved in (something).
given (preposition) – considering, taking into account, bearing in mind.
the fact that (phrase) – used to refer to a particular situation under consideration/discussion.
given the fact that (phrase) – considering a particular situation under consideration/discussion.
Blue Dot Network (BDN) (noun) – In November 2019, the United States, Japan, and Australia launched the Blue Dot Network (BDN) – named for the view of earth from space as a mere “blue dot”—to encourage development by certifying public-private investments in global infrastructure that are transparent and high-quality. By establishing shared standards for infrastructure development, BDN aims to improve connectivity, strengthen the economy, increase employment opportunities, and contribute to a cleaner environment.
Build Back Better World (B3W) Partnership (noun) – US President Joe Biden and his G7 coounterparts agreed in June, 2021 to launch Build Back Better World (B3W) – a values-driven, market-led, high-standard, and transparent infrastructure partnership to help narrow the $40+ trillion infrastructure gap in the developing world by 2035. The B3W initiative aims to mobilize bilateral and multilateral as well as private-sector capital for investment in climate, health and health security, modernized digital technology, gender equity, and equality. The B3W is intended to be global in scope and to cover low- and middle-income countries. Many interpret the B3W as a U.S.-led counterproposal to the Belt and Road Initiative (BRI) by China.
make headway (phrase) – make progress, make strides, gain ground, progress, advance, proceed, take shape.
credibility (noun) – trustworthiness, reliability, integrity.