Topic: Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests
4) The recent trade war between US and China signals that there are looming threats over free trade. Comment. Also discuss the implications of such trade war on developing countries like India. (250 Words)
Why this question?
Globalization and trade liberalization are important topics that remain in news. Hence they are important from mains perspective.
Key demand of the question
The question asks you to comment on the future of free trade. The next part asks you to probe deeper into the effects that trade protectionist measures would have on developing countries like India.
Comment – In the first part of the question present your view on whether you feel in light of the trade war and other events, future of free trade is secure or not.
Discuss – In the second part, focus on the impact that trade protectionism would have on India and how India can mitigate any future risk.
Structure of the answer
In the introduction, write on the issue at hand. What is the trade war about and whether it is an isolated event or in continuation with a series of events.
Body –1st part – Mention your view on the future of free trade – multilateral, plurilateral and bilateral.
2nd part – Discuss about the impacts of trade protectionism on developing countries like India – incorporate points like impact on food security, transfer of technology, trade deficits etc
Conclusion – Present a balanced view on the future of free trade and steps India should take to secure itself from effects of global trade regime uncertainties.