20th Nov Current Affairs News Analysis | Prelims & Mains 2020

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IASbhai Current Affairs News Analysis | Prelims & Mains 2020-21 is an initiative to dilute major articles from leading Newspapers in India which are most relevant to UPSC preparation –‘THE HINDU, LIVEMINT , INDIAN EXPRESS’ and help millions of readers who find difficulty in answer writing and making notes everyday. Hence we choose articles on daily basis and analyse them with respect to UPSC PRELIMS 2021.

Life is what we make it, always has been, always will be.” – Grandma Moses

HIGHLIGHT INFO:

ORANGE COLOUR: Important for Prelims.

RED COLOUR: Important for Mains.

BLACK COLOUR: Must Read !

BLUE COLOUR : Important Links/Survey.

PINK COLOUR: Reports/Themes/Summits.

20th Nov Current Affairs News Analysis | Prelims & Mains 2021

Today's Must Read Articles : Today's Must Read Articles :

Willow warbler spotted

      HEADLINES:

Willow warbler spotted for the first time

      WHY IN NEWS:

The migratory bird, from northern and temperate Europe, has not been seen in India before

SYLLABUS COVERED: GS 3: Flora and Fauna : Biodiversity : IUCN

      ISSUE: 

It has been sighted for the first time in the country in Thiruvanathapuram.

WILLOW WARBLER

willow warbler

  • The willow warbler, one of the longest migrating small birds, seen in Kerala.
  • Migration occurs mainly during the night, and this species usually covers around 100 kilometres a day.

Some individuals known to average an astounding 218 kilometres per day.

MIGRATION PATTERN

  • The willow warbler (Phylloscopus trochilus) breeds throughout northern and temperate Europe and the Palearctic.
  • It has an extremely large range with a marginally declining population and breeds in temperate Europe and Asia.
  • It migrates during the non-breeding season to winter in sub-Saharan Africa.

It undergoes two complete moults each year, meaning that it has an entirely new set of feathers for each long-distance migration to and from the breeding grounds.

  • It may migrate up to 12,000 kilometres to reach its wintering range.

UNIQUE BEHAVIOUR

  • “It is the first time that Phylloscopus trochilus is being sighted and reported in the country,”.

The bird weighs around 10 g and it has long wing feathers that help it fly long distances.

  • Usually seen in European and the Palearctic regions, the birds migrate to sub-Saharan Africa during early winter.
  • Warblers are generally difficult to identify owing to the small size and change in plumage twice a year.
  • They are also the most difficult groups of birds to identify in the field for their striking resemblance to each other.
  • Most of them are from Thiruvananthapuram, Kollam, Pathanamthitta, and Idukki districts.

IUCN STATUS

20th Nov Current Affairs News Analysis

SOURCES : IUCN RED LIST

      IASbhai WINDUP: 

BIODIVERSITY HOTSPOT

  • The Vellayani-Punchakkari paddy fields are a birding hotspot on the outskirts of Thiruvananthapuram.
  • It is known to harbour more than 213 species of birds that include both resident and migratory ones.
  • Seven species of warblers have been recorded from the Vellayani-Punchakkari fields, of which Blyth’s reed warbler and clamorous reed warbler are common.
     SOURCES:  THE HINDU  | 20th Nov Current Affairs News Analysis

Sri Lanka’s prospects with RCEP

      HEADLINES:

What are Sri Lanka’s prospects with RCEP in India’s absence?

      WHY IN NEWS:

While it is unclear if the government is considering joining the China-led Regional Cooperation Economic Partnership, Colombo seems open to the idea

SYLLABUS COVERED: GS 2 : IR

      ISSUE: 

Sri Lanka’s growing emphasis on tapping the emerging Asian market would make the China-led Regional Cooperation Economic Partnership (RCEP) agreement seem an ideal forum to build trade ties in the region.

AMBITIOUS PROJECT

  • Given the island nation’s current economic challenges and India’s decision to opt out of the grouping, the road is far from easy for Sri Lanka.

Sri Lanka’s distinct advantage; its strategic location in the Indian Ocean, along one of the busiest shipping routes in the world.

  • He also underscored his government’s priority to swiftly developing the China-backed $1.4 billion Colombo Port City as a hub for international business and investment.

TRADE VISION

  • Rajapaksa administration’s stated – Sri Lanka needed to turn more eastward in its economic and trade diplomacy.

Sri Lanka is pro-trade and we will explore all multilateral arrangements, including the RCEP to explore what they can offer.

  • While it is unclear if the Sri Lankan government is considering seeking RCEP membership, Colombo seems open to the idea.

In the current situation amid a global pandemic, no country can stick to an isolationist policy.

  • Countries have to work together, putting aside their political differences.
  • Given Sri Lanka’s emphasis on Asia-centred trade, RCEP would seem a natural choice.

TRADE POLICY AND INDIA

  • To start with, Sri Lanka’s current trade policy “remains unclear”.

The proposed Economic and Technology Cooperation Agreement (ETCA) with India is “in limbo”.

  • Had the Sri Lanka-India ETCA agreement been in place already, and had India also been part of RCEP, it would have made life a lot easier for Sri Lanka.

      IASbhai WINDUP: 

LESSONS FOR SRI LANKA

  • Colombo is seeking to diversify its export basket and markets by looking to expand trade with in the Asia-Pacific region.

RCEP would make it more difficult for Sri Lanka to compete with the likes of Vietnam, Cambodia and Laos.

  • If India was to eventually become a member of RCEP, there could be a boost to Sino-Indian economic relations within a rules- based framework .
  • The age of hyper-globalisation with one hegemonic power has probably ended to be replaced by a more multipolar world.
  • RCEP demonstrates that the world is not retreating to a new era of fortress like inward looking economies.
     SOURCES:  THE HINDU | 20th Nov Current Affairs News Analysis

APEC : China slams protectionism

      HEADLINES:

In APEC speech, Xi touts China’s economy as base of free trade

      WHY IN NEWS:

He vows to keep the economy open, slams protectionism

SYLLABUS COVERED: GS 2 : International Groupings

      ISSUE: 

President Xi Jinping  warned against protectionism as the world battles the COVID-19 pandemic.

CHINESE AFTER RCEP

  • Mr. Xi said the Asia-Pacific is the “forerunner driving global growth” in a world hit by “multiple challenges.”

He vowed “openness” to trade and rejected any possibility of the “decoupling” of China’s economy.

  • Openness enables a country to move forward while seclusion holds it back,”.
  • China’s economic “resilience and vitality” in bouncing back from the virus.

BARGAINING CHIP

  • China has either restricted trade or used its giant economy as a bargaining chip in wider geopolitical disputes.

Australian exports of beef, wine and barley to China — their biggest market – have been restricted.

  • The Regional Comprehensive Economic Partnership, which excludes the US, is viewed as a major coup for China .
  • It is further evidence that Beijing is setting the agenda for global commerce as Washington retreats.

APEC

  • Asia-Pacific Economic Cooperation (APEC) forum, held online this year because of the pandemic.
  • It brings together 21 Pacific Rim countries, accounting for about 60% of global GDP.

The Asia-Pacific Economic Cooperation (APEC) is a regional economic forum established in 1989 to leverage the growing interdependence of the Asia-Pacific.

AIM

To create greater prosperity for the people of the region by promoting balanced, inclusive, innovative and sustainable approach.

  • To secure growth and by accelerating regional economic integration.

FUNCTIONS

  • APEC works to help all residents of the Asia-Pacific participate in the growing economy.

APEC projects provide digital skills training for rural communities and help indigenous women export their products abroad.

  • Recognizing the impacts of climate change.
  • APEC members also implement initiatives to increase energy efficiency and promote sustainable management of forest and marine resources.

MEMBER NATIONS

APEC’s 21 member economies . These are :

MEMBERS
Australia; Brunei Darussalam; Canada; Chile; People’s Republic of China; Hong Kong, China; Indonesia; Japan; Republic of Korea; Malaysia; Mexico; New Zealand; Papua New Guinea; Peru; The Philippines; The Russian Federation; Singapore; Chinese Taipei; Thailand; United States of America; Viet Nam.

      IASbhai WINDUP: 

  • The forum adapts to allow members to deal with important new challenges to the region’s economic well-being.
  • This includes ensuring disaster resilience, planning for pandemics, and addressing terrorism.
     SOURCES:  THE HINDU | 20th Nov Current Affairs News Analysis

INDIA-LUXEMBOURG SUMMIT

      HEADLINES:

INDIA-LUXEMBOURG SUMMIT

      WHY IN NEWS:

Hot from PIB !

SYLLABUS COVERED: GS 2 : IR

      ISSUE: 

Luxembourg is a founding member of the EU.

INDIA-LUXEMBOURG RELATIONS

  • India EU relations including forward movement on India EU trade agreements and investment agreements.

The Luxembourg Prime Minister conveyed the intention of Luxembourg to join the International Solar Alliance.

  • Mr Modi invited Luxembourg to join the Coalition for Disaster Resilient Infrastructure.

AGREEMENTS RATIFIED

The agreements were:

  1. MoU between India International Exchange (India INX) and Luxembourg Stock Exchange
  2. MoU between State Bank of India and Luxembourg Stock Exchange
  3. MoU between Invest India and Luxinnovation

      IASbhai WINDUP: 

  • The leaders looked forward to the 17th Joint Economic Commission between India and the Belgium-Luxembourg Economic Union to review the economic and trade relations.
     SOURCES:  PIB   | 20th Nov Current Affairs News Analysis

Oxford Economics : India’s 2020-25 growth average

      HEADLINES:

Oxford Economics cuts India’s 2020-25 growth average to 4.5%

      WHY IN NEWS:

‘Country’s post-COVID-19 economic scars could be among the worst in the world’.

SYLLABUS COVERED: GS 3:Economy

      ISSUE: 

Global forecasting firm Oxford Economics revised downwards its India growth forecast over the medium term to an average 4.5% over 2020-25

PRE-PANDEMIC PROJECTION

  • In a research note, it said India’s post-COVID-19 scars could be among the worst in the world.
  • India’s growth equilibrium to worsen substantially over the medium term.

The potential growth is averaging just 4.5% over 2020-2025 in their latest baseline.

  • India’s GDP per capita to be 12% below our pre-virus baseline even in 2025

REASONS

  • Stressed corporate balance sheets
  • Elevated non-performing assets of banks
  • The fallout in non-bank financial companies (NBFCs)
  • Labour market weakness

      IASbhai WINDUP: 

  • An adequate and well-designed fiscal stimulus would halve this impact by limiting deterioration in pre-COVID-19 headwinds.
     SOURCES:  THE HINDU | 20th Nov Current Affairs News Analysis

 

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