PDF 7th Sept. 2016
A noble mission of far-sighted global cooperation to avoid a looming (पास ह मंडराना) economic
crisis brought together a doughty ( ह मती / यो य) 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 (बाग-डोर/ नयं ण) of financial regulatory reform, the annual gathering of the
group has, it would appear, degenerated into a publicity opportunity for divergent ( व भ न)
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 ( नवा सय ) 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 (कायसू ची) 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 (एकजु टता) 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 ( व वध/ व च ) and vague (अ प ट) 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 (पू वि थ त म लौटना/
यावतन होना) 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.
1. Looming (पास ह मंडराना)
Synonyms: Imminent, Approaching, Impending, Appearing
Antonyms: Distant, Remote
2. Doughty ( ह मती / यो य)
Synonyms: Valiant. Courageous, Intrepid, Brave
Antonyms: Timid, Coward, Feared
3. Reins (बाग-डोर/ नयं ण)
Synonyms: Halter, Bridle, Snaffle, Control
Antonyms: Release, Free
4. Divergent ( व भ न)
Synonyms: Various, Varied, Several, Distinguishing
Antonyms: Alike, Homogenous, Same, Similar
5. Inhabitants ( नवा सय )
Synonyms: Resident, Denizen, Occupant, Settler
Antonyms: Alien, Foreigner, Immigrant
6. Agenda (कायसू ची)
Synonyms: Schedule, Plan, Time Table, Docket
7. Solidarity (एकजु टता)
Synonyms: Union, Oneness, Unification, Indivisibility
Antonyms: Separation, Antagonism
8. Patchy ( व वध/ व च )
Synonyms: Pied, Quaint, Variegated, Mottled, Random, Varying
Antonyms: Smooth, Regular, Consistent
9. Vague (अ प ट)
Synonyms: Obscure, Ambiguous, Unclear, Smudgy
Antonyms: Apparent, Clear, Obvious
10. Revert (पू वि थ त म लौटना/
यावतन होना)
Synonyms: Restore, Get Back, Return, Resume
Antonyms: Continue, Keep, Grow, Progress
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