If prime minister Narendra Modi hadn’t thrown a last-minute spanner in the works, the world’s biggest cross-border trade pact would have been inked by now.
The Regional Comprehensive Economic Partnership (RCEP), from which India pulled out earlier this month, proposed to create a common trade block comprising 10 ASEAN nations along with China, Australia, New Zealand, Japan, South Korea, and Japan. India bolted at the prospect of cheap Chinese goods and dairy products from Australia flooding its market, citing the interests of its farmers and small businesses.
While globalisation does have its limits, it is indisputable that international trade is an engine of growth. The policy of protectionism and isolationism in the three decades following India’s Independence only created a low-growth economy. India’s integration with the global economy, in the 1990s, benefitted it hugely. The IT and pharmaceutical sectors exemplify the benefits of global integration and liberal trade.
Disassociating with the RCEP can only reverse these gains.
The decision to pull out of the pact was surprising also because Modi had so far touted an “Act East” foreign policy, focussing on greater economic ties with the Asia-Pacific region, which includes ASEAN.
“When I measure the RCEP agreement with respect to the interests of Indians, I do not get a positive answer. Therefore, neither the talisman of Gandhiji nor my own conscience permits me to join RCEP,” Modi had said on Nov. 4 at the RCEP summit in Bangkok.
The remaining 15 nations have stated they are ready to go ahead and sign the deal in 2020. But what made the RCEP pact so unpalatable to the Modi government?
Common market
Negotiations on RCEP began in 2012 with the goal of creating an integrated market spanning 16 countries. The free trade agreement (FTA) was meant to make it easier for products and services of each country to move freely across this region.
The 16 nations, including India, would have accounted for over 3 billion people, or 45% of the world’s population, a combined GDP of about $21.3 trillion, and about 40% of world trade.
The Regional Comprehensive Economic Partnership (RCEP), from which India pulled out earlier this month, proposed to create a common trade block comprising 10 ASEAN nations along with China, Australia, New Zealand, Japan, South Korea, and Japan. India bolted at the prospect of cheap Chinese goods and dairy products from Australia flooding its market, citing the interests of its farmers and small businesses.
While globalisation does have its limits, it is indisputable that international trade is an engine of growth. The policy of protectionism and isolationism in the three decades following India’s Independence only created a low-growth economy. India’s integration with the global economy, in the 1990s, benefitted it hugely. The IT and pharmaceutical sectors exemplify the benefits of global integration and liberal trade.
Disassociating with the RCEP can only reverse these gains.
The decision to pull out of the pact was surprising also because Modi had so far touted an “Act East” foreign policy, focussing on greater economic ties with the Asia-Pacific region, which includes ASEAN.
“When I measure the RCEP agreement with respect to the interests of Indians, I do not get a positive answer. Therefore, neither the talisman of Gandhiji nor my own conscience permits me to join RCEP,” Modi had said on Nov. 4 at the RCEP summit in Bangkok.
The remaining 15 nations have stated they are ready to go ahead and sign the deal in 2020. But what made the RCEP pact so unpalatable to the Modi government?
Common market
Negotiations on RCEP began in 2012 with the goal of creating an integrated market spanning 16 countries. The free trade agreement (FTA) was meant to make it easier for products and services of each country to move freely across this region.
The 16 nations, including India, would have accounted for over 3 billion people, or 45% of the world’s population, a combined GDP of about $21.3 trillion, and about 40% of world trade.
孩子的画
时而变成蜜蜂的踪迹……
时而变成花儿藏匿丛中……
时而变成复活节彩蛋……
时而变成飞机的行迹……
时而变成一本脑洞大开的绘本书
▪︎▫︎▪︎▫︎
Modi莫迪绘本课程《2的旅程》
关于“2”的冒险旅程
孩子们的绘本书中随处可见2的踪影
一本用数字2完成的作品
逻辑与思维，表达与创作
打开思考与绘画世界的大门
☄️
#少儿美术教程参考[超话]##莫迪儿童美学# #Modi绘本系统#
时而变成蜜蜂的踪迹……
时而变成花儿藏匿丛中……
时而变成复活节彩蛋……
时而变成飞机的行迹……
时而变成一本脑洞大开的绘本书
▪︎▫︎▪︎▫︎
Modi莫迪绘本课程《2的旅程》
关于“2”的冒险旅程
孩子们的绘本书中随处可见2的踪影
一本用数字2完成的作品
逻辑与思维，表达与创作
打开思考与绘画世界的大门
☄️
#少儿美术教程参考[超话]##莫迪儿童美学# #Modi绘本系统#
【[冰雪奇缘艾莎]电影《冰雪奇缘２》上映纪念活动[冰雪奇缘安娜]】
２０１９年１１月３日～１２月２５日的期间将举办于１１月２２日上映的电影《冰雪奇缘2》相关的活动“丸井圣诞－ＦＲＯＺＥＮ ＭＥＭＯＲＹ－”。[冰雪奇缘雪宝]为您送上这个冬天最幸福的感动体验。[爱你][给你小心心]在丸井·modi全店店内展开使用闪光灯摄影传达消息的拍照区活动[照相机][音乐]！在期间限定的快闪店销售电影《冰雪奇缘2》公开纪念商品噢[冰雪奇缘艾莎][冰雪奇缘安娜]！中透明文件夹的抽签会等各种各样的企划和活动丰富多彩[冰雪奇缘雪宝]！另外，在有乐町・难波丸井的商铺也将销售以电影《冰雪奇缘2》为形象设计的摆件和丸井限定商品。[可怜][浮云]
详情请查阅特设网站▷▷▷
https://t.cn/AirmyXtS
#圣诞节# #冰雪奇缘2# #日本#
２０１９年１１月３日～１２月２５日的期间将举办于１１月２２日上映的电影《冰雪奇缘2》相关的活动“丸井圣诞－ＦＲＯＺＥＮ ＭＥＭＯＲＹ－”。[冰雪奇缘雪宝]为您送上这个冬天最幸福的感动体验。[爱你][给你小心心]在丸井·modi全店店内展开使用闪光灯摄影传达消息的拍照区活动[照相机][音乐]！在期间限定的快闪店销售电影《冰雪奇缘2》公开纪念商品噢[冰雪奇缘艾莎][冰雪奇缘安娜]！中透明文件夹的抽签会等各种各样的企划和活动丰富多彩[冰雪奇缘雪宝]！另外，在有乐町・难波丸井的商铺也将销售以电影《冰雪奇缘2》为形象设计的摆件和丸井限定商品。[可怜][浮云]
详情请查阅特设网站▷▷▷
https://t.cn/AirmyXtS
#圣诞节# #冰雪奇缘2# #日本#
✋热门推荐