Question
UPSC Prelims 2016 Question:
With reference to the ‘Trans Pacific Partnership’, consider the following statements:
- It is an agreement among all the Pacific Rim countries except China and Russia.
- It is a strategic alliance for the purpose of maritime security only.
Which of the statements given above is/are correct?
Answer (Detailed Solution Below)
Option 4: Neither 1 nor 2
Detailed Solution
Explanation:
- The ‘Trans Pacific Partnership’ (TPP) was a trade agreement signed by twelve Pacific Rim countries: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam, and the United States. Thus, It was an agreement among selected Pacific Rim countries (12 Countries). China and Russia were not members of the TPP. So, statement 1 is not correct.
- The TPP text consisted of thirty chapters, covering tariffs on goods and services, intellectual property (IP) rights, e-commerce rules, labor and environmental standards, dispute resolution mechanisms, and many other aspects of global trade. Hence, it is a trade alliance, not a strategic alliance. So, statement 2 is not correct.
Therefore, option (4) is the correct answer.
| Knowledge Box |
|
In 2017, the United States withdrew from the Trans Pacific agreement. Later in 2018, the 11 countries signed the revised version of the agreement, called Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The agreement came into force for 11 countries on 30 December 2018. |
Relevance: The proposal of the ‘TransPacific Partnership’ was signed in 2016 without ratification.
Subject: Economics | Economic Organisations and Conventions
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