The Hindu Editorial (Trade imbalance) – May 17, 2024

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The Hindu Editorial (Trade imbalance) – May 17, 2024:

imbalance (noun) – disparity, variation, disproportion, unevenness, lopsidedness.
merchandise (noun) – goods, commodities, produce, product.
spike (noun) – sharp increase/rise.
import bill (noun) – the total amount of imports made by a country.
blight (noun) – spoil, damage, wreak, disrupt, mar, ruin.
uptick (noun) – a small increase or upward trend.
shrank past of shrink (verb) – lessen, reduce, decrease.
mar (verb) – damage, impair, ruin.
geopolitical (adjective) – relating to (the study of) the geographical factors (a country’s position on the earth, size, climate, and natural resources &, etc.) in world politics and inter-state relations.
logistical (adjective) – relating to organization and planning of something.
disruption (noun) – disturbance, interference, interruption.
(get) off to a good start (noun) – to be good at the beginning.
outbound (adjective) – travelling/going out of your home country.
reflect (verb) – indicate, display, show, reveal, disclose, exhibit.
meagre (adjective) – insufficient, inadequate, scanty, paltry, sparse.
year-on-year (adjective) – year over year (for comparison).
contraction (noun) – In economics, it refers to a decline in national output as measured by gross domestic product.
tank (verb) – fail completely.
fall (noun) – decrease, drop, decline, reduction, lessening.
largely (adverb) – mostly, mainly, generally.
drive (verb) – cause to happen.
contraction (noun) – In economics, it refers to a decline in national output as measured by gross domestic product.
aid (verb) – help, assist, support.
flip side (noun) – other side, opposite side, other hand; wrong side, downside, drawback, disadvantage, pitfall.
surge (noun) – sudden increase or rise of something.
as a result (phrase) – because of something.
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.
Organization of Petroleum Exporting Countries (OPEC) (noun) – OPEC was founded in 1960 in Baghdad by Iraq, Iran, Kuwait, Saudi Arabia and Venezuela with an aim of coordinating petroleum policies and securing fair and stable prices. Now, it includes 13 countries, which are mainly from the Middle East and Africa. They produce around 30% of the world’s oil.
hit (verb) – reach a particular level.
moreover (adverb) – besides, furthermore, in addition, additionally.
persistent (adjective) – continuous, constant, unending, unrelenting, unceasing.
safe haven (noun) – refuge, shelter, asylum, place of safety/security.
yellow metal (noun) – another name for gold.
deleterious (adjective) – damaging, adverse, disadvantageous, unfavourable, unfortunate, undesirable.
scenario (noun) – circumstance, condition, situation, context, background, backdrop.
front (noun) – a particular situation; a particular area of activity.
World Trade Organization (WTO) (noun) – an intergovernmental organization that is concerned with the regulation of international trade between nations.
key (adjective) – important, crucial, critical.
inflation (noun) – simply meaning “cost of living”; increase of price level of goods & services and vice versa decrease of currency value.
spur (verb) – encourage, prompt, propel, motivate, inspire, urge, galvanize.
bounce (noun) – a sudden rise in the level of something; rebound.
capitalise on (verb) – take advantage of, use, make use of, benefit from.
accrue (verb) – (of a benefit) to receive/increase gradually over a period of time; accumulate, collect, gather, amass, build up, augment.
address (verb) – tackle, deal with, attend to, try to sort out.
labour-intensive (adjective) – relating to the process where a larger portion of total costs is due to labour as compared with the portion for costs incurred in purchase, maintenance, and depreciation of capital equipment.
lose out (phrasal verb) – fail to benefit from, be unable to take advantage of; be beaten in competition.
downward trend (noun phrase) –If you refer to a downward trend, you mean that something is decreasing or that a situation is getting worse.
spices (noun) – aromatic vegetable substances, in the whole, broken, or ground form, whose significant function in food is seasoning rather than nutrition (ginger, pepper, cloves, cumin etc.).
drug (noun) – medicine, medication.
allegation (noun) – accusation, charge.
booming (adjective) – thriving, burgeoning, prospering, successful, flourishing.
shrimp (noun) – a form of shellfish.
vigour (noun) – strength, power, vitality, zeal.
curb (verb) – control, contain, restrict, limit.
reinvigorate (verb) – revive, re-energize, reconstruct, reorganize, regenerate, resuscitate, rejuvenate, revamp.
given (preposition) – considering, taking into account, bearing in mind.
prospects (noun) – chances, possibilities, expectations, outlook, future.
roll up one’s sleeves (phrase) prepare for some really hard work.
rev up (phrasal verb) – become more active, make someone or something more active; accelerate, speed up, increase the speed (of an engine/motor/something similar) quickly.
unwieldy (adjective) – cumbersome, unmanageable, difficult, awkward, unhandy.