Editorial #07

IBPS PO(PT) 2016

Politics is local but most problems are international. that is the fundamental मौलिक problem for national governments caught between the twin forces of globalization भूमण्डलीकरण and voters'anger. the the European refugee crises शरणार्थी संकट , for example, seems to cry out for a continent-wide solution. But the tide of migrants has been vast and national government have been tempted परीक्षा to  put up barriers first, and answer questions later. The latest example saw Sweden introduce checks on the travelling from Denmark, leading the letter country, in turn, to impose temporary controls on its southern border with Germany. Anti-immigration आप्रवास विरोधी parties have been gaining in the polls चुनव , with the exception of the German Chancellor; mainstream  मुख्य धारा politicians want to head off the challenge. In a way, this looks like the same mismatch that has plagued त्रस्त्र the euro: a single currency without a unitary एकात्मक fiscal and political authority.
Many economics have advocated much greater integration एकीकरण  of the euro zone in the wale the bloc's crisis गुट का  संकट  .The European banking system would be stronger if there was a comprehensive deposit-insurance scheme; the economy would be more balanced if there were fiscal transfers from rich to poor countries. But such plans are unpopular with voters in rich countries (who worry about the implied अस्पस्ट loss of local control that reforms would require). All that the European Union's (EU) leaders have managed so far is to cobble रस्ते का पत्थर together solutions (such as the Greek bailouts) at the last minutes. Gone is the pledge प्रतिज्ञा of unity of the G-20's summit in London in 2009, when leaders agreed on a co-ordinate stimulus प्रोत्साहन  in response to the financial crisis. Central banks are now heading in different directions - the federal Reserve has just tightened कड़ा monetary policy while the European Central Bank an Bank Of Japan are committed to easing सहजता . Trade creates tighter links between countries, but global trade growth has been sluggish सुस्त in recent years. The OECD thinks that trade grew by only 2% in volume in 2015. No  longer is trade rising faster than global GDP, as it was before the crisis. International agreements require compromise सनझोता , which leaves politicians vulnerable चपेट में to criticism form inflexible कड़ा components, Voters are already dissatisfied असंतुष्ट with their lot after years of sluggish gains (or decline)in living standards. When populist politicians suggest that votes woes are all the faults of foreigners, they find a ready audience. Furthermore, economic woes can lead to much aggressive foreign policy. In the developed world. demographic जनसंख्यकी constraints बाधाओं (a static or shrinking workforce ) may limit the scope for  the kind of rapid growth needed to reduce the debt burden and make votes happier. Boosting that sluggish growth rate through domestic reforms सुधारो (breaking up producer cartels,  making labour markets more flexible ) is very hard because such reforms arouse strong opposition from those affected. The danger is that a vicious शातिर cycle sets in. Global problems are not get angrier and push their leaders into ,or  nationalistic positions and conflict संगर्ष which poses a threat धमकी to all.

VOCABULARY 

1. Fundamental                मौलिक
2. Globalization               भूमण्डलीकरण
3. Refugee crises             शरणार्थी संकट
4.  Tempted                      परीक्षा
5. Anti-immigration         आप्रवास विरोधी
6. Polls                             चुनाव 
7. Mainstream                  मुख्य धारा
8. Plagued                        त्रस्त्र
9. Unitary                         एकात्मक
10. Integration                   एकीकरण
11. Bloc's crisis                 गुट का  संकट 
12. Implied                        अस्पस्ट
13. Cobble                         रस्ते का पत्थर
14. Pledge                          प्रतिज्ञा
15. Etimulus                      प्रोत्साहन
16. Tightened                    कड़ा
17. Easing                         सहजता
18. Sluggish                      सुस्त
19. Compromise               समझौता 
20. Vulnerable                  चपेट में
21. Inflexible                    कड़ा
22. Dissatisfied                 असंतुष्ट
23. Demographic              जनसंख्यकी 
24. Constraints                  बाधाओं
25. Reforms                      सुधारो
26. Vicious                        शातिर
27. Tonflict                        संघर्ष 
28. Threat                          धमकी