30-31.01.22

The term “developing country” was recently coined by the . Several countries would be unable to tolerate this.

Highlights:

There are no formal definitions for “developed” or “developing” countries in the organization. However, other countries can contest the offer when a tag is provided.

Even though the WTO has not specified a definition, two-thirds of its members claim developing countries.

Because countries can classify themselves as developing, China has taken advantage of the opportunity. China is attempting to expand its global trade supremacy in this way.

A developing country has various advantages under the WTO. The S&DT provisions in WTO agreements give developing countries special privileges.

S&DT stands for Special and Differential Treatment. These clauses allow members to treat them with favor.

The Red Sanders (or Red Sandalwood) was recently reclassified by the International Union for Conservation of Nature () as ‘endangered’ on its Red List.

Highlights:

Pterocarpus santalinus is the scientific name for the Red Sanders species.

It is an endemic tree species to India, with a geographical range limited to the Eastern Ghats.

The species is only found in a small area of woodland in Andhra Pradesh.

In 2018, it was designated as a ‘near threatened’ species.

When a species was removed from the endangered list for the first time since 1997, it was a cause for celebration.

For the past three generations, the Red Sanders species has seen its Population drop by 50-80%.

As a result, it was once again placed in the Endangered category. Red Sanders are prized for their deep color and medicinal benefits.

On January 25, 2022, the (IMF) published its World Economic Outlook.

Highlights:

According to the analysis, global economic Growth will be half a Percentage point lower than previously projected.

The rate of growth will slow from 5.9% in 2021 to 4.4 percent in 2022. In 2023, it will drop even lower to 3.8 percent.

According to the IMF, the reduction in global growth predictions is mostly due to the IMF’s assessment of economic prospects in China and the United States.

In the United States, the removal of Joe Biden’s Build Back Better strategy from the baseline, early withdrawal of monetary support, and supply constraints resulted in a 1.2 percentage point downward revision for growth in 2022.

Disruptions connected to China’s zero-Tolerance Covid policy and persistent financial hardship among property developers resulted in a 0.8 percentage point negative revision.