| 1. Regime (Noun) Elaborated meaning : a system or planned way of doing things Synonyms: system, arrangement, order Antonyms : employess , random Example : The philiphies president ruling the coutry with strong regime. |
| 2. Preamble (Noun) Elaborated meaning : Introducting something. Synonyms: Introduction , preface , prelude Antonyms : End , conclcusion Example : The meeting will be statred after preamble speech of PM |
| 3. Unilateral (Adj) Elaborated meaning : (of an action or decision) performed by or affecting only one person, group, or country involved in a particular situation, without the agreement of another or the others. Synonyms: independent, autonomous, solitary Antonyms : bilateral , mutilateral Example : The fight between Tiger and Deer goes in unilateral manner. |
| 4. Replicated (Verb) Elaborated meaning : make an exact copy of; reproduce. Synonyms: copy, reproduce, duplicate Antonyms : ignore , reject , reflect Example : The regime of modi replicated the vajpai . |
| 5. Envisaged (Verb) Elaborated meaning : contemplate or conceive of as a possibility or a desirable future event Synonyms: imagine, contemplate, visualize Antonyms : doubt , amazed , surprised Example : He is envisaged the post from SBI as he done it well. |
| 6. Pragmatists (Noun) Elaborated meaning : person who noses around Synonyms: detective , eavesdropper , pry Example : pragmatists always try to suspect others. |
| 7. Rendered (Verb) Elaborated meaning : provide or give (a service, help, etc.). Synonyms: supply, accomplished , performed Antonyms : unable , clusmsy Example :Sachin awarded bharat ratna for rendenering his service to indian cricket team. |
| 8. Precisely (Adv) Elaborated meaning : in exact terms; without vagueness Synonyms: accurately, exactly, clearly Antonyms : unsure , vague Example : The guidelines to reach tirumala is prescisely defined here. |
| 9. Provisions (Noun) Elaborated meaning : the action of providing or supplying something for use. Synonyms: supply, providing, giving Example : New contracts for the provision of services |
| 10. Auspices (Noun) Elaborated meaning : a divine or prophetic token. Synonyms: protection , support , patronage Antonyms : opposition , weekness Example : Crow is considered as ausipicous animal in olden days |
| Important word : Negotiated (Verb) Elaborated meaning : try to reach an agreement or compromise by discussion with others. Synonyms: bargain, discuss agree Antonyms : confuse , contend , disagree Example : They negoitaed about how to crack the SBI PO among themselves. |
| Read paragraph from below : The World Trade Organization (WTO) was formed in the early 1990s as a component of the Uruguay Round negotiation. However, it could have been negotiated as part of the Tokyo Round of the 1970s, since that negotiation was an attempt at a ‘constitutional reform’ of the General Agreement on Tariffs and Trade (GATT). Or it could have been put off to the future, as the US Government wanted. What factors led to the creation of the WTO in the early 1990s? One factor was the pattern of multilateral bargaining that developed late in the Uruguay Round. Like all complex international agreements, the WTO was a product of a series of trade-offs between principal actors and groups. For the United States, which did not want a new organization, the dispute settlement part of the WTO package achieved its longstanding goal of a more effective and more legal dispute settlement system. For the Europeans, who by the 1990s had come to view GATT dispute settlement less in political terms and more as a regime of legal obligations, the WTO package was acceptable to discipline the resort to unilateral measures by the United States. Countries like Canada and other middle and smaller trading partners were attracted by the expansion of a rules-based system and by the symbolic value of a trade organization, both of which inherently support the weak against the strong. The developing countries were attracted due to the provisions banning unilateral measures. Finally, and perhaps most important, many countries at the Uruguay Round came to put a higher priority on the export gains than on the import losses that the negotiation would produce, and they came to associate the WTO and a rule based system with those gains. This reasoning — replicated in many countries — was contained in US Ambassador Kantor’s defence of the WTO, and it amounted to a recognition that international trade and its benefits cannot be enjoyed unless trading nations accept the discipline of a negotiated rules-based environment. A second factor in the creation of the WTO was pressure from lawyers and the legal process. The dispute settlement system of the WTO was a victory of legalists over pragmatists but the matter went deeper than that. The GATT, and the WTO, are contract organizations based on rules, and it is inevitable that an organization created to further rules will in turn be influenced by the legal process. Robert Hudec has written of the ‘momentum of legal development’, but what is this precisely? Legal development can be defined as promotion of the technical legal values of consistency, clarity (or, certainty) and effectiveness: these are values that those responsible for administering any legal system will seek to maximize. As it played out in the WTO, consistency meant integrating under one roof the whole lot of separate agreements signed under GATT auspices; clarity meant removing ambiguities about the powers of contracting parties to make certain decisions or to undertake waivers: and effectiveness meant eliminating exceptions arising out of grandfather-rights and resolving defects in dispute settlement procedures and institutional provisions. Concern for these values is inherent in any rules-based system of cooperation, since without these values, rules would be meaningless in the first place. Rules, therefore, create their own incentive for fulfilment. The momentum of legal development has occurred in other institutions besides the GATT, most notably in the European Union (EU). Over the past two decades the European Court of Justice (ECJ) has consistently rendered decisions that have expanded incrementally the EU’s internal market, in which the doctrine of ‘mutual recognition’ handed down in the case Cassis de Dijon in 1979 was a key turning point. The court is now widely recognized as a major player in European integration, even though arguably such a strong role was not originally envisaged in the Treaty of Rome, which initiated the current European Union. One means the court used to expand integration was the ‘teleological method of interpretation’, whereby the actions of member states were evaluated against ‘the accomplishment of the most elementary community goals set forth in the Preamble to the [Rome] Treaty’. The teleological method represents an effort to keep current policies consistent with stated goals, and it is analogous to the effort in GATT to keep contracting party trade practices consistent with stated rules. In both case legal concerns and procedures are an independent force for further cooperation. |
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