💥Mains Ready By December. Smash Mains & Smash PYQ Admissions Open
Talk to Mentor

Civilsdaily

Login

Type: IOCR

  • China issues ‘official’ names for 15 places in Arunachal Pradesh

    China’s Ministry of Civil Affairs has issued standardized names for 15 places in the Indian State of Arunachal Pradesh, to be used henceforth on official Chinese maps.

    MEA clarification

    • The Ministry of External Affairs has dismissed the Chinese “invention”.
    • Arunachal Pradesh has always been, and will always be, an integral part of India, said MEA.

    Why is China giving names to places that are in India?

    • China claims some 90,000 sq km of Arunachal Pradesh as its territory.
    • It calls the area “Zangnan” in the Chinese language and makes repeated references to “South Tibet”.
    • Chinese maps show Arunachal Pradesh as part of China, and sometimes parenthetically refer to it as “so-called Arunachal Pradesh”.
    • China makes periodic efforts to underline this unilateral claim to Indian territory.
    • Giving Chinese names to places in Arunachal Pradesh is part of that effort.

    Earlier unilateral renamings

    • This is the second lot of “standardized” names of places in Arunachal Pradesh that China has announced.
    • Earlier in 2017, it had issued “official” Chinese names for six places spanning the breadth of Arunachal Pradesh

    What is China’s argument for claiming these areas?

    • The PRC disputes the legal status of the McMahon Line, the official boundary under the ‘Convention Between Great Britain, China, and Tibet’ — of 1914 (Simla Convention).
    • China was represented at the Simla Convention by a plenipotentiary of the Republic of China, which had been declared in 1912 after the Qing dynasty was overthrown.
    • The present communist government came to power only in 1949, when the People’s Republic was proclaimed.
    • The Chinese representative did not consent to the Simla Convention, saying Tibet had no independent authority to enter into international agreements.

    What is the McMohan Line?

    • The McMohan Line, named after Henry McMahon, the chief British negotiator at Shimla, was drawn from the eastern border of Bhutan to the Isu Razi pass on the China-Myanmar border.
    • China claims territory to the south of the McMahon Line, lying in Arunachal Pradesh.
    • China also bases its claims on the historical ties that have existed between the monasteries in Tawang and Lhasa.

    Intention behind these renamings

    • This renaming is a part of the Chinese strategy to assert its territorial claims over Indian territory.
    • As part of this strategy, China routinely issues statements of outrage whenever an Indian dignitary visits Arunachal Pradesh.
    • Beijing keeps harping on its “consistent” and “clear” position that the Indian possession of Arunachal Pradesh.
    • These claims have been firmly established and recognized by the world, as “illegal”.

    Arunachal not all-alone

    • Laying aggressive claims to territories on the basis of alleged historical injustices done to China is a part of Beijing’s foreign policy playbook.
    • The claim on Taiwan is one such example, as are the consistent efforts to change the “facts on the ground” in several disputed islands in the South China Sea.
    • The aggression is at all times backed in overt and covert ways by the use of China’s economic and military muscle.

    Also read:

    [RSTV Archive] India-China Ties Post-Galwan

     

  • Govt. disagrees with India’s rank in World Press Freedom Index

    The Centre has shown its disagreement with the conclusions drawn by Reporters Without Borders about press freedom in India for various reasons.

    World Press Freedom Index

    • The PFI is an annual ranking of countries compiled and published by Reporters Without Borders since 2002.
    • It is based upon the organization’s own assessment of the countries’ press freedom records in the previous year.
    • It intends to reflect the degree of freedom that journalists, news organizations, and netizens have in each country, and the efforts made by authorities to respect this freedom.
    • It is careful to note that the index only deals with press freedom and does not measure the quality of journalism in the countries it assesses, nor does it look at human rights violations in general.

    India’s ranking

    • India is ranked at 142 out of 180 countries on the World Press Freedom Index 2021.
    • In the South Asian neighborhood, Nepal is at 106, Sri Lanka at 127, Myanmar (before the coup) at 140, Pakistan at 145 and Bangladesh at 152.
    • China is ranked 177, and is only above North Korea at 179 and Turkmenistan at 178.

    What the report said about India

    • Targeting women: It has been highlighted that the “campaigns are particularly violent when the targets are women”.
    • Criminal prosecutions: Often used to gag journalists critical of the authorities.
    • Draconian laws: It termed various Indian laws such as – laws on ‘sedition,’ ‘state secrets’ and ‘national security’, draconian.
    • Curb on freedom of expression: The report has also highlighted the throttling of freedom of expression on social media.
    • Censorship on social media: It specifically mentioned that in India the “arbitrary nature of Twitter’s algorithms also resulted in brutal censorship”

    Reservations held by India

    • India along with many nations has reportedly disgusted the outcomes of this report. It stated that media in India enjoy absolute freedom.
    • The government does not subscribe to its views and country rankings and does not agree to the conclusions drawn by this organization for various reasons:
    1. Non-transparent methodology
    2. Very low sample size
    3. Little or no weightage to fundamentals of democracy
    4. Adoption of a methodology that is questionable and non-transparent
    5. Lack of clear definition of press freedom, among others

    Why is the report biased?

    • The report is a subjective measure computed through the prism of western liberals.
    • It tends to default to a homogenous view of mass media which then facilitates comparison between countries.
    • There are no questions about media ownership or about their economic concentration in private hands.

     

    UPSC 2022 countdown has begun! Get your personal guidance plan now! (Click here)

  • WTO rules against India’s Sugar Subsidies

    A World Trade Organization panel ruled that India violated international trade rules when it offered excessive subsidies for the production and export of sugar and sugarcane.

    What did WTO say?

    • Under WTO rules, India’s sugar subsidies are capped at a de minimis limit of 10% of the value of production.
    • India’s policies were inconsistent with WTO rules that govern the levels at which nations can subsidize domestic agricultural production.
    • WTO has asked it to withdraw its prohibited subsidies under the Production Assistance, the Buffer Stock, and the Marketing and Transportation Schemes within 120 days.

    What was the complaint against India?

    Australia, Brazil, and Guatemala said India’s domestic support and export subsidy measures appeared to be inconsistent with various articles against WTO’s:

    1. Agreement on Agriculture
    2. Agreement on Subsidies and Countervailing Measures (SCM)
    3. Article XVI (which concerns subsidies) of the General Agreement on Trade and Tariffs (GATT)
    • Domestic Support: All three countries complained that India provides domestic support to sugarcane producers that exceed the de minimis level of 10% of the total value of sugarcane production.
    • Various subsidies: They also raised the issue of India’s alleged export subsidies, subsidies under the production assistance and buffer stock schemes, and the marketing and transportation scheme.
    • Notifying support: Australia accused India of “failing” to notify its annual domestic support for sugarcane and sugar subsequent to 1995-96, and its export subsidies since 2009-10.

    India’s reply to WTO panel

    • India rejected the panel’s findings as “erroneous”, “unreasoned”, and “not supported by the WTO rules”.
    • It argued that the requirements of Article 3 of the SCM Agreement are not yet applicable to India.
    • It has a phase-out period of 8 years to eliminate export subsidies under the agreement.
    • India also argued that its mandatory minimum prices are not paid by the governments but by sugar mills, and hence do not constitute market price support.

    Must read:

    Sugarcane Pricing in India

     

    UPSC 2022 countdown has begun! Get your personal guidance plan now! (Click here)

  • India stands committed to UNCLOS

    India remains committed to promoting a free, open and rules-based order rooted in international law and undaunted by coercion, the Centre informed Parliament while reiterating support for the United Nations Convention on the Law of the Sea (UNCLOS).

    Background of UNCLOS

    • UNCLOS replaces the older ‘freedom of the seas’ concept, dating from the 17th century.
    • According to this concept, national rights were limited to a specified belt of water extending from a nation’s coastlines, usually 3 nautical miles (5.6 km; 3.5 mi).
    • This was considered according to the ‘cannon shot’ rule developed by the Dutch rulers.

    About UNCLOS

    • UNCLOS is sometimes referred to as the Law of the Sea Convention or the Law of the Sea treaty.
    • It came into operation and became effective from 16th November 1982.
    • It defines the rights and responsibilities of nations with respect to their use of the world’s oceans, establishing guidelines for businesses, the environment, and the management of marine natural resources.
    • It has created three new institutions on the international scene :
    1. International Tribunal for the Law of the Sea,
    2. International Seabed Authority
    3. Commission on the Limits of the Continental Shelf

    Note: UNCLOS does not deal with matters of territorial disputes or to resolve issues of sovereignty, as that field is governed by rules of customary international law on the acquisition and loss of territory.

    Major conventions:

    There had been three major conferences of UNCLOS:

    1. UNCLOS I: It resulted in the successful implementation of various conventions regarding Territorial Sea and Contiguous Zones, Continental Shelf, High Seas, Fishing Rights.
    2. UNCLOS II: No agreement was reached over breadth of territorial waters.
    3. UNCLOS III: It introduced a number of provisions. The most significant issues covered were setting limits, navigation, archipelagic status and transit regimes, exclusive economic zones (EEZs), continental shelf jurisdiction, deep seabed mining, the exploitation regime, protection of the marine environment, scientific research, and settlement of disputes.

    The convention set the limit of various areas, measured from a carefully defined baseline.

    These terminologies are as follows:

    (1) Baseline

    • The convention set the limit of various areas, measured from a carefully defined baseline.
    • Normally, a sea baseline follows the low-water line, but when the coastline is deeply indented, has fringing islands or is highly unstable, straight baselines may be used.

    (2) Internal waters

    • It covers all water and waterways on the landward side of the baseline.
    • The coastal state is free to set laws, regulate use, and use any resource. Foreign vessels have no right of passage within internal waters.
    • A vessel in the high seas assumes jurisdiction under the internal laws of its flag State.

    (3) Territorial waters

    • Out to 12 nautical miles (22 km, 14 miles) from the baseline, the coastal state is free to set laws, regulate use, and use any resource.
    • Vessels were given the Right of Innocent Passage through any territorial waters.
    • “Innocent passage” is defined by the convention as passing through waters in an expeditious and continuous manner, which is not “prejudicial to the peace, good order or the security” of the coastal state.
    • Fishing, polluting, weapons practice, and spying are not “innocent”, and submarines and other underwater vehicles are required to navigate on the surface and to show their flag.
    • Nations can also temporarily suspend innocent passage in specific areas of their territorial seas, if doing so is essential for the protection of their security.

    (4) Archipelagic waters

    • The convention set the definition of “Archipelagic States”, which also defines how the state can draw its territorial borders.
    • All waters inside this baseline are designated “Archipelagic Waters”.
    • The state has sovereignty over these waters mostly to the extent it has over internal waters, but subject to existing rights including traditional fishing rights of immediately adjacent states.
    • Foreign vessels have right of innocent passage through archipelagic waters, but archipelagic states may limit innocent passage to designated sea lanes.

    (5) Contiguous zone

    • Beyond the 12-nautical-mile (22 km) limit, there is a further 12 nautical miles (22 km) from the territorial sea baseline limit, the contiguous zone.
    • Here a state can continue to enforce laws in four specific areas (customs, taxation, immigration, and pollution) if the infringement started or is about to occur within the state’s territory or territorial waters.
    • This makes the contiguous zone a hot pursuit area.

    (6) Exclusive economic zones (EEZs)

    • These extend 200 nm from the baseline.
    • Within this area, the coastal nation has sole exploitation rights over all natural resources.
    • In casual use, the term may include the territorial sea and even the continental shelf.

    (7) Continental shelf

    • The continental shelf is defined as the natural prolongation of the land territory to the continental margin’s outer edge, or 200 nautical miles (370 km) from the coastal state’s baseline, whichever is greater.

    India and UNCLOS

    • As a State party to the UNCLOS, India promoted utmost respect for the UNCLOS, which established the international legal order of the seas and oceans.
    • India also supported freedom of navigation and overflight, and unimpeded commerce based on the principles of international law, reflected notably in the UNCLOS 1982.
    • India is committed to safeguarding maritime interests and strengthening security in the Indian Ocean Region (IOR) to ensure a favorable and positive maritime environment.

     

    UPSC 2022 countdown has begun! Get your personal guidance plan now! (Click here)

  • UN confers Observer Status on International Solar Alliance (ISA)

    The UN General Assembly has conferred Observer Status to the International Solar Alliance (ISA).

    Significance of  ‘Observer’ Status

    • Observer status is a privilege granted by some organizations to non-members to give them the ability to participate in the organization’s activities.
    • It is often granted by intergovernmental organizations (IGO) to non-member parties and international nongovernmental organizations (INGO) that have an interest in the IGO’s activities.
    • Observers generally have a limited ability to participate in the IGO, lacking the ability to vote or propose resolutions.

    About International Solar Alliance (ISA)

    Hq: Gurugram, India

    • The ISA is an alliance of more than 121 countries, most of them being sunshine countries, which lie either completely or partly between the Tropic of Cancer and the Tropic of Capricorn.
    • The primary objective of the alliance is to work for efficient exploitation of solar energy to reduce dependence on fossil fuels.
    • The alliance is a treaty-based inter-governmental organization.
    • The initiative was launched by PM Modi at the India Africa Summit and a meeting of member countries ahead of the 2015 United Nations Climate Change Conference in Paris in November 2015.
    • A total of 80 countries have signed and ratified the ISA Framework Agreement and 101 countries have only signed the agreement.

    Objectives of the ISA

    • To mobilize investments of more than USD 1000 billion by 2030
    • To take coordinated action for better harmonization, aggregation of demand, risk and resources, for promoting solar finance, solar technologies, innovation, R&D, capacity building etc.
    • Reduce the cost of finance to increase investments in solar energy in member countries
    • Scale up applications of solar technologies in member countries
    • Facilitate collaborative research and development (R&D) activities in solar energy technologies among member countries
    • Promote a common cyber platform for networking, cooperation and exchange of ideas among member countries

    What does ISA formation signify?

    • Climate action commitment: It symbolizes about the sincerity of the developing nations towards their concern about climate change and to switch to a low-carbon growth path.
    • Clean energy: India’s pledge to the Paris summit offered to bring 40% of its electricity generation capacity from non-fossil sources (renewable, large hydro, and nuclear) by 2030.
    • Global electrification: India has pledged to let solar energy reach to the most unconnected villages and communities and also towards creating a clean planet.
    • Global cooperation: It is based on world cooperation irrespective of global boundaries.
    • India’s Soft power: For India, possible additional benefits from the alliance can be a strengthening of ties with the major African countries and increasing goodwill for India among them.

     

    UPSC 2022 countdown has begun! Get your personal guidance plan now! (Click here)

  • [pib] Global Methane Initiative (GMI)

    India has co-chaired along with Canada the Global Methane Initiative leadership meet held virtually.

    About Methane

    • Methane is a greenhouse gas, which is also a component of natural gas.
    • There are various sources of methane including human and natural sources.
    • The anthropogenic sources are responsible for 60 per cent of global methane emissions.
    • It includes landfills, oil and natural gas systems, agricultural activities, coal mining, wastewater treatment, and certain industrial processes.
    • The oil and gas sectors are among the largest contributors to human sources of methane.
    • These emissions come primarily from the burning of fossil fuels, decomposition in landfills and the agriculture sector.

    Global Methane Initiative (GMI)

    • GMI is a voluntary Government and an informal international partnership having members from 45 countries including the United States and Canada.
    • The forum has been created to achieve global reduction in anthropogenic methane emission through partnership among developed and developing countries having economies in transition.
    • The forum was created in 2004 and India is one of the members since its inception and has taken up Vice-Chairmanship for the first time in the Steering Leadership along with USA.
    • National governments are encouraged to join GMI as Partner Countries, while other non-State organizations may join GMI’s extensive Project Network.

    Focus areas

    The initiative currently focuses on five sectors, which are known sources of anthropogenic methane emissions:

    1. Agriculture
    2. Coal mining
    3. Municipal solid waste
    4. Municipal wastewater
    5. Oil and gas systems

    Why focus on Methane?

    • The emission of methane is a big concern as it is a greenhouse gas having 25-28 times harmful effect than carbon dioxide
    • According to the UN, 25 % of the warming that the world is experiencing today is because of methane.
    • Methane is the second-most abundant greenhouse gas in the atmosphere, after carbon dioxide.
    • According to IPCC, methane accounts for about half of the 1.0 degrees Celsius net rise in global average temperature since the pre-industrial era.

    Back2Basics: CO2 Equivalents

    • Each greenhouse gas (GHG) has a different global warming potential (GWP) and persists for a different length of time in the atmosphere.
    • The three main greenhouse gases (along with water vapour) and their 100-year global warming potential (GWP) compared to carbon dioxide are:

    1 x – carbon dioxide (CO2)

    25 x – methane (CH4) – I.e. Releasing 1 kg of CH4into the atmosphere is about equivalent to releasing 25 kg of CO2

    298 x – nitrous oxide (N2O)

    • Water vapour is not considered to be a cause of man-made global warming because it does not persist in the atmosphere for more than a few days.
    • There are other greenhouse gases which have far greater global warming potential (GWP) but are much less prevalent. These are sulphur hexafluoride (SF6), hydrofluorocarbons (HFCs), and perfluorocarbons (PFCs).
    • There are a wide variety of uses for SF6, HFCs, and PFCs but they have been most commonly used as refrigerants and for fire suppression.
    • Many of these compounds also have a depleting effect on ozone in the upper atmosphere.

     

    UPSC 2022 countdown has begun! Get your personal guidance plan now! (Click here)

  • Global Health Security Index, 2021

    Countries across all income levels remain dangerously unprepared to meet future epidemic and pandemic threats, according to the new 2021 Global Health Security (GHS) Index.

    About GHS Index

    • The GHS Index is the first comprehensive assessment and benchmarking of health security and related capabilities across the 195 countries that make up the States Parties to the International Health Regulations.
    • It is a project of the Johns Hopkins Centre for Health Security, the Nuclear Threat Initiative (NTI) and the Economist Intelligence Unit (EIU) and was first launched in October 2019.
    • It assesses countries across 6 categories, 37 indicators, and 171 questions using publicly available information.
    • It benchmarks health security in the context of other factors critical to fighting outbreaks, such as political and security risks, the broader strength of the health system, and country adherence to global norms.

    Parameters assessed

    The report is based on a questionnaire of 140 questions, organized across 6 categories, 34 indicators, and 85 sub-indicators. The six categories are:

    1. Prevention: Prevention of the emergence or release of pathogens
    2. Detection and Reporting: Early detection and reporting for epidemics of potential international concern
    3. Rapid Response: Rapid response to and mitigation of the spread of an epidemic
    4. Health System: Sufficient and robust health system to treat the sick and protect health workers
    5. Compliance with International Norms: Commitments to improving national capacity, financing plans to address gaps, and adhering to global norms
    6. Risk Environment: Overall risk environment and country vulnerability to biological threats

    Global performance

    • In 2021, no country scored in the top tier of rankings and no country scored above 75.9, the report showed.
    • The world’s overall performance on the GHS Index score slipped to 38.9 (out of 100) in 2021, from a score of 40.2 in the GHS Index, 2019.
    • This, even as infectious diseases are expected to have the greatest impact on the global economy in the next decade.
    • Some 101 countries high-, middle- and low-income countries, including India, have slipped in performance since 2019.

    Indian scenario

    • India, with a score of 42.8 (out of 100) too, has slipped by 0.8 points since 2019.
    • Three neighboring countries — Bangladesh, Sri Lanka and Maldives — have improved their score by 1-1.2 points.

    Conclusion

    • Health emergencies demand a robust public health infrastructure with effective governance.
    • The trust in government, which has been a key factor associated with success in countries’ responses to COVID-19, is low and decreasing, the index noted.

     

    UPSC 2022 countdown has begun! Get your personal guidance plan now! (Click here)

  • World Inequality Report, 2022

    As per the ‘World Inequality Report 2022’, India is among the most unequal countries in the world, with rising poverty and an ‘affluent elite.’

    World Inequality Report

    • This report is published by Mr. Lucas Chancel, the co-director of the World Inequality Lab of the Paris School of Economics.
    • It was coordinated by famed French economist Thomas Piketty.

    Key highlights of the report

    (1) Income divide

    • The report highlights that the top 10% and top 1% in India hold 57% and 22% of the total national income respectively while the bottom 50% share has gone down to 13%.
    • The average national income of the Indian adult population is Rs 2,04,200.
    • The bottom 50% earns 20 times more than the top 10%.

     (2) Decline in public wealth

    • The report notes that the share of public wealth across countries has been on a decline for decades now.
    • Public assets typically include public buildings housing administrations, schools, universities, hospitals, and other public services.

    (3) Inequality during Colonial India

    • Going back in time, the report shows that the income inequality in India under the British colonial rule (1858-1947) was very high, with a top 10% income share around 50%.
    • After independence, due to socialist-inspired five-year plans, this share was reduced to 35-40%.
    • Owing to poor post-Independence economic conditions, India embarked upon deregulation and loosening controls in the form of liberalization policies.

    (4) Wealth inequality

    • The average household wealth in India is around Rs 9,83,010.
    • The bottom 50% of the nation can be seen to own almost nothing, with an average wealth of Rs 66,280 or 6% of the total pie.
    • The middle class is relatively poor with an average wealth of Rs 7,23,930 or 29.5% of the total.
    • The top 10% owns 65% of the total wealth, averaging Rs 63,54,070 and the top 1% owns 33%, averaging Rs 3,24,49,360.

    (5) Gender Inequality

    • Gender inequality in India is also considered on the higher end of the spectrum.
    • The share of female labor income share in India is equal to 18% which is significantly lower than the average in Asia (21%, excluding China) & is among the lowest in the world.
    • Although, the number is slightly higher than the average share in the Middle East (15%).
    • However, a significant increase has been observed since 1990 (+8 p.p.) but it has been insufficient to lift women’s labor income share to the regional average.

    (6) Poor States, wealthy population

    • Countries across the world have become richer over the past 40 years, but their governments have become significantly poorer.
    • The report shows that the share of wealth held by public actors is close to zero or negative in rich countries, meaning that the totality of wealth is in private hands.
    • Following the pandemic, governments borrowed the equivalent of 10-20% of GDP, essentially from the private sector.

    (7) Issue over data availability

    • The report goes on to say that over the past three years, the quality of inequality data released by the government has seriously deteriorated.
    • This has made it particularly difficult to assess recent inequality changes.

    Conclusions from the report

    (1) Wealth is mostly inherited and has a snowball effect

    • People accumulate wealth across generations through inheritance.
    • It has a snowball effect, wherein successive generations will gain more, but in their concentrated section.
    • More capital incentivizes banks to lend. This is why the rich section’s wealth grows faster.

    (2) Wealth management is necessary

    • Public wealth has been declining for two reasons:
    1. First, governments have been privatizing assets and natural resources at low costs.
    2. Second, governments contract debt to the private sector, making it richer.
    • Without assets, governments have low resources to invest and to mitigate climate change impacts, particularly in the energy sector.
    • Currently, governments have more debts than assets. This calls for strategic management of the economy.

     

    UPSC 2022 countdown has begun! Get your personal guidance plan now! (Click here)

  • India joins G20’s Troika

    India has joined the G20 ‘Troika’with Indonesia and Italy.

    G20 Troika

    • Troika refers to the top grouping within the G20 that consists of the current, previous and incoming presidencies — Indonesia, Italy and India.
    • With this move, India has started the procedure for taking over the G20 presidency.

    Significance of the move

    • India will assume the G20 presidency on December 1, 2022 from Indonesia, and will convene the G20 Leaders’ Summit for the first time in India in 2023.
    • Indonesia took over the G20 presidency this year.

    Do you know?

    A Sherpa is the personal representative of a head of state or head of government who prepares an international summit, such as the annual G7 and G20 summits.

    About G20 Countries

    • Formed in 1999, the G20 is an international forum of the governments and central bank governors from 20 major economies.
    • Collectively, the G20 economies account for around 85 percent of the Gross World Product (GWP), 80 percent of world trade.
    • The members of the G20 consist of 19 individual countries plus the European Union (EU).
    1. The 19 member countries of the forum are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, United Kingdom and the United States.
    2. The European Union is represented by the European Commission and by the European Central Bank.
    • India has been a member of the G20 since its inception in 1999.

     

    UPSC 2022 countdown has begun! Get your personal guidance plan now! (Click here)

  • EU unveils Global Gateway Project

    The European Union has unveiled a project called ”Global Gateway” that is worth 300 billion euros ($340 billion). The project is being seen as a response to China’s Belt and Road strategy.

    Global Gateway Project

    • It is the initiative Build Back Better World and the European Global Gateway that are reinforcing each other.
    • The bloc will mobilize the financial aid in public and private infrastructure investment around the world.
    • It is an offshoot of a plan by G7 countries to offer developing countries an alternative to Belt and Road.
    • The project will probably extend the remit of the European Fund for Strategic Investment, or create a similar institution, which can act as a guarantor for riskier investments in the ‘Global South’.
    • The EU has indicated it especially wants to compete for infrastructure development projects in Africa.

    About Belt and Road Initiative

    • The Belt and Road is a flagship project of Chinese President Xi Jinping that was launched in 2013.
    • Beijing has invested $139.8 billion in the project which is the centerpiece of Chinese foreign policy.
    • BRI aims to develop land and sea infrastructure to better connect China to Asia, Europe and Africa for trade and development, and it has found many partners around the world.

     

    UPSC 2022 countdown has begun! Get your personal guidance plan now! (Click here)