WORLD INVESTMENT REPORT IS PREPARED BY WHOM ?->(Show Answer!)

1. WORLD INVESTMENT REPORT IS PREPARED BY WHOM

Answer: UNCTAD (United Nations Conference on Trade and Development)

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MCQ-> Read the following passages carefully and answer the questions given at the end of each passage.PASSAGE 1In a study of 150 emerging nations looking back fifty years, it was found that the single most powerful driver of economic booms was sustained growth in exports especially of manufactured products. Exporting simple manufactured goods not only increases income and consumption at home, it generates foreign revenues that allow the country to import the machinery and materials needed to improve its factories without running up huge foreign bills and debts. In short, in the case of manufacturing, one good investment leads to another. Once an economy starts down the manufacturing path, its momentum can carry it in the right direction for some time. When the ratio of investment to GDP surpasses 30 percent, it tends to stick at the level for almost nine years (on an average). The reason being that many of these nations seemed to show a strong leadership commitment to investment, particularly to investment in manufacturing. Today various international authorities have estimated that the emerging world need many trillions of dollars in investment on these kinds of transport and communication networks. The modern outlier is India where investment as a share of the economy exceeded 30 percent of GDP over the course of the 2000s, but little of that money went into factories. Indian manufacturing had been stagnant for decades at around 15 percent of GDP. The stagnation stems from the failures of the state to build functioning ports and power plants and to create an environment in which the rules governing labour, land and capital are designed and enforced in a way that encourages entrepreneurs to invest, particularly in factories. India has disappointed on both counts creating labour friendly rules and workable land acquisition norms. Between 1989 and 2010 India generated about ten million new jobs in manufacturing, but nearly all those jobs were created in enterprises that are small and informal and thus better suited to dodge India’s bureaucracy and its extremely restrictive rules regarding firing workers It is commonly said in India that the labour laws are so onerous that it is practically impossible to comply with even half of them without violating the other half.Informal shops, many of them one man operations, now account for 39 percent of India’s manufacturing workforce, up from 19 percent in 1989 and they are simply too small to compete in global markets. Harvard economist Dani Rodrik calls manufacturing the “automatic escalator” of development, because once a country finds a niche in global manufacturing, productivity often seems to start rising automatically. During its boom years India was growing in large part on the strength of investment in technology service industries, not manufacturing. This was put forward as a development strategy. Instead of growing richer by exporting even more advanced manufactured products, India could grow rich by exporting the services demanded in this new information age. These arguments began to gain traction early in the 2010s.In new research on the “service escalators”, a 2014 working paper from the World Bank made the case that the old growth escalator in manufacturing was already giving way to a new one in service industries. The report argued that while manufacturing is in retreat as a share of the global economy and is producing fewer jobs, services are still growing, contributing more to growth in output and jobs for nations rich and poor. However, one basic problem with the idea of service escalator is that in the emerging world most of the new service jobs are still in very traditional ventures. A decade on, India’s tech sector is still providing relatively simple IT services mainly in the same back office operations it started with and the number of new jobs it is creating is relatively small. In India, only about two million people work in IT services, or less than 1 percent of the workforce. So far the rise of these service industries has not been big enough to drive the mass modernisation of rural farm economies. People can move quickly from working in the fields to working on an assembly line, because both rely for the most part on manual labour. The leap from the farm to the modern service sector is much tougher since those jobs often require advanced skills. Workers who have moved into IT service jobs have generally come from a pool of relatively better educated members of the urban middle class, who speak English and have atleast some facility with computers. Finding jobs for the underemployed middle class is important but there are limits to how deeply it can transform the economy, because it is a relatively small part of the population. For now, the rule is still factories first, not service first.According to the information in the above passage, manufacturing in India has been stagnant because there is
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MCQ-> Direction : Read the following passage carefully and answer the questions given below it. Certain words/phrases have been printed in bold to help you locate them while answering some of the questions.Governments have traditionally equated economic progress with steel mills and cement factories. While urban centers thrive and city dwellers get rich, hundreds of millions of farmers remain mired in poverty. However, fears of food shortages, a rethinking of antipoverty priorities and the crushing recession in 2008 are causing a dramatic shift in world economic policy in favour of greater support for agriculture. The last time when the world's farmers felt such love was in the '70s. At that time, as food prices spiked, there was real concern that the world was facing a crisis in which the planet was simply unable to produce enough grain and meat for an expanding population. Governments across the developing world and international aid organisations plowed investment into agriculture in the early '70s, while technological breakthroughs, like high-yield strains of important food crops, boosted production. The result was the Green Revolution and food production exploded. But the Green Revolution became a victim of its own success. Food prices plunged by some 60% by the late '80s from their peak in the mid- '70s. Policymakers and aid workers turned their attention to the poor's other pressing needs, such as health care and education. Farming got starved of resources and investment. By 2004, aid directed at agriculture sank to 3.5% and 'Agriculture lost its glitter'. Also, as consumers in high-growth giants such as China and India became wealthier, they began eating more meat, so grain once used for human consumption got diverted to beef up livestock. By early 2008, panicked buying by importing countries and restrictions slapped on grain exports by some big producers helped drive prices upto heights not seen for three decades. Making matters worse, land and resources got reallocated to produce cash crops such as biofuels and the result was that voluminous reserves of grain evaporated. Protests broke out across the emerging world and fierce food riots toppled governments. This spurred global leaders into action. This made them aware that food security is one of the fundamental issues in the world that has to be dealt with in order to maintain administrative and political stability. This also spurred the U.S. which traditionally provisioned food aid from American grain surpluses to help needy nations, to move towards investing in farm sectors around the globe to boost productivity. This move helped countries become more productive for themselves and be in a better position to feed their own people. Africa, which missed out on the first Green Revolution due to poor policy and limited resources, also witnessed a 'change'. Swayed by the success of East Asia, the primary poverty?fighting method favoured by many policymakers in Africa was to get farmers off their farms and into modern jobs in factories and urban centers. But that strategy proved to be highly insufficient. Income levels in the countryside badly trailed those in cities while the FAO estimated that the number of poor going hungry in 2009 reached an all time high at more than one billion. In India on the other hand, with only 40% of its farmland irrigated, entire economic boom currently underway is held hostage by the unpredictable monsoon. With much of India's farming areas suffering from drought this year, the government will have a tough time meeting its economic growth targets. In a report, Goldman Sachs predicted that if this year too receives weak rains, it could cause agriculture to contract by 2% this fiscal year, making the government's 7% GDP-growth target look 'a bit rich'. Another green revolution is the need of the hour and to make it a reality, the global community still has much backbreaking farm work to do.Direction: Choose the word/group of words which is most similar it meaning to the word printed in bold as used in the passage. STARVED
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MCQ-> Read the following passage carefully and answer the question given below it.Certain words/phrases have been printed in bold to help you locate them while answering some of the question.Governments have traditionally equated economic progress with steel mills and cement factories. While urban centers thrive and city dwellers get rich, hundreds of millions of farmers remain mired in poverty.However fears of food shortages, a rethinking of anti-poverty priorities and the crushing recession in 2008 are causing a dramatic shift in world economic policy in favour of greater support for agriculture. The last time when the world’s farmer felt such love was in the 1970s. At that time, as food prices spiked, there was real concern that the world was facing a crisis in which the planet was simply unable to produce enough grain and meat for an expanding population.Government across the developing world and international aid organisations plowed investment into agriculture in the early 1970s, while technological breakthroughs, like high-yield strains of important food crops, boosted production. The result was the Green Revolution and food production exploded. But the Green Revolution became a victim of its own success.Food prices plunged by some 60% by the late 1980s from their peak in the mid-1970s. Policy makers and aid workers turned their attention to the poor’s other pressing needs such as health care and education. Farming got starved of resources and investment. By 2004 aid directed at agriculture sank to 3.5 % and Agriculture lost its glitter. Also as consumer in high-growth giants such as China and India became wealthier they began eating more meat so grain once used for human consumption got diverted to beef up livestock. By early 2008 panicked buying by importing countries and restrictions slapped on grain exports by some big producers helped drive prices upto heights not seen for three decades. Making matters worse land and resources got reallocated to produce cash crops such as biofuels and the result was that voluminous reserves of grain evaporated. Protests broke out across the emerging world and fierce food riots toppled governments. This spurred global leaders into action. This made them aware that food security is one of the fundamental issues in the world that has to be dealt with in order to maintain administrative and political stability. This also spurred the US which traditionally provisioned food aid from American grain surpluses to help needy nations to move towards investing in farm sectors around the globe to boost productive for themselves and be in a better position to feed their own people. Africa, which missed out on the first Green Revolution due to poor policy and limited resources, also witnessed a 'change'. Swayed by the success of East Asia the primary poverty-fighting method favoured by many policy-makers in Africa was to get farmers off their farms and into modern jobs in factories and urban centers. But that strategy proved to be highly insufficient. Income levels in the countryside badly trailed those in cities while the FAO estimated that the number of poor going hungry in 2009 reached an all time high at more than one billion. In India on the other hand with only 40% of its farmland irrigated, entire economic boom currently underway is held hostage by the unpredictable monsoon. With much of India’s farming areas suffering from drought this year, the government will have a tough time meeting its economic growth targets. In a report Goldman Sachs, predicted that if this year, too receives weak rains it could cause agriculture to contract by 2 % this fiscal year making the government 7%GDP growth target look "a bit rich". Another green revolution is the need of the hour and to make it a reality, the global community still has much backbreaking farm work to do.What is the author’s main objective in writing the passage ?
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