THE HINDU Editorial Vocabulary- September 7, 2016- Topic 1
The Grumbling 20
A noble mission of
far-sighted global cooperation to avoid a LOOMING
economic crisis brought together a doughty group of nations, representing 85
per cent of the world’s GDP and two-thirds of its population, under the banner
of the G20. However, after the dark days of the 2008 crisis inspired
then-freshly-elected U.S. President Barack Obama to take over the REINS of financial regulatory reform, the annual gathering of the group has, it
would appear, degenerated into a publicity opportunity for DIVERGENT national concerns.
As Hangzhou played host to the G20 meeting, there were reports that the Chinese government had emptied the city of its original inhabitants for the duration of the summit — an act that seemed symbolic of the final COMMUNIQUÉ of the G20 itself, pretty on the outside but lacking in substance. Among the major issues that found mention in the summit was the question of excess steel capacity in China resulting in a flood of cheap imports into India, the U.K. and other economies. Despite reports of RESISTANCE from China to any mention of steel policy coordination in the 7,000-word communiqué, the document had a “call for increased information sharing and cooperation through the formation of a Global Forum on steel excess capacity”.
As Hangzhou played host to the G20 meeting, there were reports that the Chinese government had emptied the city of its original inhabitants for the duration of the summit — an act that seemed symbolic of the final COMMUNIQUÉ of the G20 itself, pretty on the outside but lacking in substance. Among the major issues that found mention in the summit was the question of excess steel capacity in China resulting in a flood of cheap imports into India, the U.K. and other economies. Despite reports of RESISTANCE from China to any mention of steel policy coordination in the 7,000-word communiqué, the document had a “call for increased information sharing and cooperation through the formation of a Global Forum on steel excess capacity”.
Climate change was the other
major agenda point. Notwithstanding Mr. Obama’s disappearing dream of securing
full global support for the Paris Agreement before his second term ends, a
symbolic show of solidarity towards this goal in the form of the U.S. and China
ratifying the Agreement last week failed to produce any dramatic commitments in
Hangzhou. CONTRARILY in India, media reports struck a note
of relief that Prime Minister Narendra Modi’s negotiators had FOBBED off any attempts to insist that the deal be done before a December 2016
deadline. Numerous low-key objectives shared by multiple G20 members, such as
strengthening enforcement against international tax avoidance and advancing
cooperation on Base Erosion and Profit Shifting, certainly got a shot in the
arm from this G20 gathering. Yet, there is no comparison to the patchy and VAGUE nature of progress in these smaller goals to the collaboratively evolved
financial regulation architecture that emerged from the ashes of the 2008
meltdown and put the brakes on excessive risk-taking by banks. This only begs
the question: has the G20 lost its way, OUTLIVED its usefulness? Would it be
more institutionally efficient to REVERT to other regional groupings
that have overlapping conversations on these very subjects? It may well be time
to re-examine the G20’s purpose and, if necessary, RECAST its vision and mission entirely.
::::::::::::::::::::::Meanings
with example and Synonyms::::::::::::::::::::::
Looming: appear as a shadowy form, especially one that is large or threatening.
Example: vehicles loomed out of the darkness
Synonyms: emerge, appear, come into view, take shape
Reins: a long, narrow strap attached at one end to a horse's bit, typically used
in pairs to guide or check a horse while riding or driving.
Example: Spotting them, she quickly grabbed the reins and led the horses back at a
trot
Divergent: tending to be different or develop in different directions.
Example: divergent interpretations
Synonyms: differing, varying, different, dissimilar, unalike, disparate, contrasting
Communiqué: an official announcement or statement, especially one made to the media.
Synonyms: press release, bulletin, message, missive, dispatch
Resistance: the refusal to accept or comply with something; the attempt to prevent
something by action or argument.
Example: she put up no resistance to being led away
Synonyms: opposition to, hostility to, refusal to accept
Contrarily: opposite in nature, direction, or meaning.
Example: he ignored contrary advice and agreed on the deal
Synonyms: opposite, opposing, opposed, contradictory, clashing, conflicting
Vague: of uncertain, indefinite, or unclear character or meaning.
Example: many patients suffer vague symptoms
Synonyms: indistinct, indefinite, indeterminate, unclear, ill-defined, hazy, fuzzy
Outlived: (of a person) live longer than (another person).
Example: women generally outlive men
Revert: return to (a previous state, condition, practice, etc.).
Example: he reverted to his native language
Synonyms: return, go back, change back, default, fall back
Recast: give (a metal object) a different form by melting it down and reshaping it.
Example: This metal would be recast into additional cannon.
