The Hindu Editorial (Trading up) – Sep 05, 2024

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The Hindu Editorial (Trading up) – Sep 05, 2024:

trade up (phrasal verb) – to sell something so as to buy something more expensive.
trading up (phrase/noun) – increasing/intensifying the activity (of buying and selling) to a higher level.
World Bank (noun) – The World Bank is an international development organization owned by 187 countries. Its role is to reduce poverty by lending money to the governments of its poorer members to improve their economies and to improve the standard of living of their people. The World Bank was established in 1944 to help rebuild Europe and Japan after World War II. Its official name was the International Bank for Reconstruction and Development (IBRD).
prognosis (noun) – forecast, prediction, projection, speculation, calculation (of future events or trends).
moot (verb) – suggest, recommend, present, propose, put forward, submit (an idea or possibility).
Gross domestic product (GDP) (noun) – a measure of economic activity in a country. It is the total value of a country’s annual output of goods and service.
forecast (noun) – prediction, indication, projection, prognosis, speculation, calculation (of future events or trends).
in sync (phrase) – in agreement.
International Monetary Fund (IMF) (noun) – an international organization of 189 countries, headquartered in Washington, D.C., working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.
Asian Development Bank (ADB) (noun) – The Asian Development Bank (ADB) envisions a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty in the region. Established in 1966, it is owned by 68 members-49 from the region.
tad (noun) – a very small amount; a little bit; to small degree extent; slightly, somewhat.
uptick (noun) – a small increase or upward trend.
project (verb) – predict, indicate, forecast, prognose, speculate, calculate (future events or trends).
Fitch Ratings (noun) – an American credit rating agency and is one of the “Big Three credit rating agencies”, the other two being Moody’s and Standard & Poor’s.
modest (adjective) – small, limited, scanty, meagre, frugal, moderate.
due to (phrase) – because of, as a result of, thanks to, on account of, owing to.
prospects (noun) – chances, possibilities, expectations, outlook, future.
restrictive (adjective) – restricting, constraining, confining, prohibitive.
monetary policy (noun) – monetary policy refers to the use of monetary instruments under the control of the central bank to regulate magnitudes such as interest rates, money supply, and availability of credit with a view to achieving the ultimate objective of economic policy mentioned in the Reserve Bank of India Act, 1934.
persistent (adjective) – continuous, constant, unending, unrelenting, unceasing.
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.
tensions (noun) – strained relations, strain, unease.
way (adverb) – much.
subdued (adjective) – restrained, controlled, toned down, muted.
environment (noun) – situation, condition, context, background, backdrop, atmosphere.
dissipation (noun) – draining, depletion, losing, loss; squandering, waste.
rebound (noun) – rally, upturn, recovery, improvement, resurgence (after decline).
cloud (verb) – mess up, spoil, ruin, vitiate.
supply chain (noun) – a dynamic network when a company purchases or uses goods or services from others. It involves people, information, processes, and resources involved in the production, handling, and distribution of materials and finished products or providing a service to the customer.
resurgence (noun) – recovery, revival, rebound, resurrection, renaissance, re-emergence.
inflation (noun) – simply meaning “cost of living”; increase of price level of goods & services and vice versa decrease of currency value.
central bank (noun) – the banking regulator of a county’s banking system. (e.g. The Reserve Bank of India (RBI) is the central bank of India).
hold (noun) – maintain, continue (without changing).
private consumption or consumption expenditure (noun) – the spending by households (consumers) on goods and services, excluding new housing.
anaemic (adjective) – feeble, weak, poor, inadequate.
offset (verb) – even up, counterbalance, equalize, neutralize; make amends for, compensate for.
moderation (noun) – reduction, contraction, lessening, decrease.
revive (verb) – recover, renew, re-establish, resuscitate, revitalize, regenerate, bring back.
bolster (verb) – strengthen, support, make stronger, reinforce, buttress.
hover (verb) – to remain at a level.
imperative (noun) – necessary condition, precondition, condition, essential requirement.
acknowledge (verb) – accept, recognize, realize.
Production Linked Incentive (PLI) (noun) – incentives provided to companies for enhancing their domestic manufacturing apart from focusing on reducing import bills and improving the cost competitiveness of local goods.
Employment Linked Incentive (ELI) (noun) – a proposed policy framework aimed at directly incentivizing companies based on the number of new jobs they create.
engage (verb) – employ, recruit, enlist, take on.
workforce (noun) – workers, employees.
emphasise (verb) – underscore, underline, highlight, accentuate, point up, call attention to, focus attention on.
rethink (noun) – afterthought, reconsideration, reexamination, review.
capitalise on (phrasal verb) – take advantage of, use, make use of, benefit from.
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.
much-vaunted (adjective) – much-acclaimed, much-admired, much-praised, much-acknowledged.
China plus one (noun) – a business strategy adopted by (multinational) companies to build new manufacturing units outside China.
global reset (noun) – a strategic approach to evaluate (global) situation and make changes for improvement.
decade (noun) – a period of ten years.
flag (verb) – indicate, point out, identify; draw attention to something
skill-intensive (adjective) – competency-focused, expertise-driven, knowledge-intensive, proficiency-demanding, aptitude-driven, capability-intensive.
capital-intensive (adjective) – (typically in business and economics) concentrating on capital resources.
-intensive (adjective/usually in combination) – (in business) concentrating on a particular thing.
trade facilitation (noun) – it refers to the simplification, standardization and harmonization of procedures and associated information flows required to move goods from seller to buyer and to make payment. In simple terms, trade facilitation should streamline customs procedures in order to reduce the time and cost to trade — essentially, cut the “red tape (excessive official rules/procedures)” at the border.
pursuit (noun) – push towards, striving towards, aim of, objective of; activity.
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.
free trade (noun) – a policy to eliminate barriers/limits/regulations against imports and exports.
commendable (adjective) – praiseworthy, laudable, applaudable, admirable, creditable.
The European Free Trade Association (EFTA) (noun) – it is a trade organisation and free trade area consisting of four European states- Iceland, Liechtenstein, Norway and Switzerland.
potential (noun) – possibilities, potentiality, prospects.
hamper (verb) – hinder, obstruct, impede.
call for (phrasal verb) – require, publicly ask/necessitate, demand.
tariff/trade barriers (noun) – taxes established by each country to restrict foreign trade.
non-tariff barriers (noun) – it refer to any measures, other than customs tariffs, that regulate imports or exports into a country. Non-tariff barriers include embargoes, sanctions, and levies.
foreign direct investment (FDI) (noun) – Investment from one country into another (normally by companies rather than governments) that involves establishing operations or acquiring tangible assets, including stakes in other businesses.
curb (noun) – constraint, restriction, limitation, control.
reluctance (noun) – unwillingness, disinclination, hesitation.
multilateral (adjective) – involving many different countries.
plurilateral (adjective) – (of an agreement) involving many different countries.
pact (noun) – agreement, treaty, protocol.
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.
heed (verb) – pay attention to, take note of, bear in mind, consider, adhere to, be mindful of.
prescription (noun) – (authoritative) recommendation, method, formula, direction, instruction, measure.
in earnest (phrase) – zealously, purposefully, determinedly, resolutely, with enthusiasm, with dedication, with commitment.