CSE-2019 | Prelims Daily Quiz 47

Daily Quiz for Civil Services Preliminary Examination 2019

Question:

Negotiations on the Regional Comprehensive Economic Partnership (RCEP) have entered a decisive phase. Consider the following statements in this respect:

1. Australia is associated with RCEP while New Zealand is not.

2. One of India’s concerns with RCEP is the greater access Chinese goods will have to the Indian market.

 

Which of the above statement/s is/are correct?

A) 1 only

B) 2 only

C) Both 1 and 2

D) Neither 1 nor 2

Correct Answer

B) 2 only

Explanation for the Correct Answer
  • RCEP comprises 10 ASEAN members and their Free Trade Agreement partners - Australia, China, India, Japan, New Zealand and Republic of Korea.
  • One of India’s concerns is the greater access Chinese goods will have to the Indian market, a problem given India’s massive trade deficit. To circumvent this, given that India is the one country that doesn’t have an FTA with China, the government has proposed a “differential market access”.

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