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April 21st 2021 | UPSC Prelims Current Affairs | The Hindu Simplified

U.S. currency watchlist an intrusion into policy [Page 1 of The Hindu]

NEWS : U.S. Treasury Department recently retained India on a watchlist for currency manipulator.

Who is designated as Currency Manipulator?

· As per US Government, countries which engage in “unfair currency practices” resulting in a trade advantage are designated as Currency Manipulator.

· This involves buying or selling of foreign currency in exchange for domestic currency to influence the exchange rate and commercial policy.

Response of India :

· Commerce secretary of India questioned the decision of the US and clarified that this action without any economic logic.

· China accumulated 4$ Trillion, whereas India have reserves of only 500-600$ bn.


A low carbon future through sector led change

· The Intergovernmental Panel on Climate Change (IPCC) 1.5°C report called for global carbon emissions to reach net zero by 2050

· In India, a sector led, action-based approach could provide the framework to drive low ­carbon transformation

· To achieve net ­zero emissions, a key is to decarbonise the electricity sector


3) Border situation cannot be swept under carpet

· India’s ties with china is dependent on the maintenance of peace at the border.

· It is the first time that the People’s Liberation Army (PLA) has confirmed the deployment of long-range rocket systems to the border with India.


5) A few countries cannot set global rules, says Xi Jinping

· China’s President Xi Jinping global rules cannot be imposed “by one or a few countries” and attempts to “decouple” would not benefit any nation at the annual Boao Forum, a meeting known as China’s Davos

· China would continue to take forward its Belt and Road Initiative (BRI), including for joint vaccine production begun with BRI partners, including Indonesia, Brazil, UAE, Malaysia, Pakistan and Turkey


6) Russia will launch own space station in 2025

· Russia’s space agency to launch its own orbital station in 2025 as Moscow considers withdrawing from the International Space Station programme to go it alone

· The International Space Station (ISS) is modular space station in low earth orbit involving five participating space agencies: NASA (United States), Roscosmos (Russia), JAXA(Japan), ESA (Europe), and CSA(Canada)

· Russia this month marked the 60th anniversary of Yuri Gagarin becoming the first person in orbit — the country’s space programme has struggled in recent years.


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