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Enrich Your Vocab for Bank Exams: China’s Tightrope Walk

Nov 24, 2016 14:58 IST

    If you want to score well in competitive examinations, your best bet is that you learn English properly since you will need it for getting the job as well as doing the job. In this article, we are bringing to you a passage from ‘The Hindu’ (Dated October 22nd, 2016) and the difficult, highlighted words contained therein so that you can understand the meanings of those words and apply them whenever necessary in your examination preparation as well as examination hall.

    China’s Tightrope Walk

    The latest GDP data from China show the world’s second-largest economy seemingly in good health. Third-quarter growth was 6.7 per cent, reflecting the government’s continued pump priming by way of increased spending, and a robust property market. That the headline number came in exactly at the same reading as the previous two quarters also signals a level of almost unnatural stability in the economy’s performance as expansion has hovered around 7 per cent or very close to it for the last nine quarters, ensuring that there has been no hard landing as the key global growth engine slows. Earlier this decade the Chinese government began a ‘rebalancing’ of the economy by shifting the focus away from a production and export-led model to an increasingly domestic consumption and services reliant one; it has had some success in this with consumption contributing 71 per cent of GDP growth in the first three quarters of 2016. Still, the high level of government spending and the mounting debt — core debt as a percentage of GDP exceeded 250 per cent in the first quarter according to data compiled by the Bank for International Settlements — are causes for concern. With the state leading investment in infrastructure as a means to stabilize growth, public spending climbed 12.5 per cent in the nine-month period, widening the nation’s fiscal deficit. But it is the pace and size of the overall credit expansion that has set alarm bells ringing, including at the International Monetary Fund.

    In a working paper titled ‘Resolving China’s Corporate Debt Problem’, the IMF has cited international experiences with similar-sized credit booms to caution that China increasingly risks facing slower growth or a “disruptive adjustment” unless it acts quickly. With both scenarios fraught with danger, Chinese planners will be cognizant of the social costs a sudden, sharper slowdown can extract. Japan’s economic doldrums since its ‘lost decade’ at the end of the last century is a primer of what could ensue from such an economic slowing. That leaves Beijing with the unenviable choice of determining the contours of the ‘adjustment’ that would need to be implemented post-haste to address the precipitous debt overhang. The authors of the IMF paper advocate a comprehensive strategy and note: “Risks appear high but manageable if the problem is addressed promptly, but the window is closing quickly.” Their prescription includes the political will to identify companies in financial distress, unmindful of whether they are state-owned or private, and standards to get lenders to acknowledge the true levels of bad loans. Steering a large ship through a course-changing turn with precision is never easy, and ensuring that the $10-trillion economy stays on its feet while rebalancing could prove a challenge.

    1. Robust (Adjective): Sturdy in construction (in case of objects); strong and rich in flavor and smell (in case of wine or food)

    Synonyms: Durable, Resilient, tough, strong, long-lasting

    Antonyms: Fickle, weak, frail, insipid, tasteless

    Sentence: They have put in place a very robust mechanism in order to detect any kind of fraud in the system.

    2. Hovered (verb): Remain in one in the air / remain poised uncertainly in one place or between two states / linger close at hand in an uncertain manner

    Synonyms: loiter, hang, float, levitate

    Antonyms: Relinquished, deserted, left

    Sentence: The tension of the approaching final examinations was hovering over his head at that moment.

    3. Reliant (Adjective): having or showing dependence on something

    Synonyms: Confident, Dependent, susceptible, subservient

    Antonyms: Disbelieve, Disregard, Ignore

    Sentence: The whole team is too much reliant on the skipper to score runs in the slog over of a match.

    4. Mounting (Adjective): Piling up or increasing day by day

    Synonyms: Escalating, increasing, ascending, soaring

    Antonym: Reducing, decreasing, coming down, alighting

    Sentence: The startup company is finding it too difficult to continue business because of the pressure of mounting debts on it.

    5. Concern (noun): A matter of importance or anxiety or worry for someone

    Synonyms: Disquiet, apprehension, anxiety, worry, responsibility

    Antonym: disinterest, pastime, entertainment

    Sentence: His primary concern at this moment is that he should get rid of the charges he has been accused of by his in-laws.

    6. Stabilize (verb): make or become unlikely to give way or change, fail or decline

    Synonym: Balance, fix, preserve, secure, steady

    Antonym: Destroy, forget, ignore, neglect

    Sentence: The government recently announced an emergency programme to stabilize the ailing economy at its earliest.

    7. Disruptive (adjective): innovative or groundbreaking, causing or tending to cause disruption

    Synonym: disturbing, rowdy, troublesome, unruly

    Antonym: calming, disciplined, soothing

    Sentence: Bringing a disruptive technological innovation in the market is never easy for a startup company in the present era of fierce competition in every field.

    8. Fraught (Adjective): causing or affected by anxiety or stress, filled with something undesirable

    Synonym: charge, filled, replete

    Antonym: empty

    Sentence: For a company running into huge losses, it is fraught with danger to introduce new products in the market.

    9. Cognizant (adjective): Having knowledge or awareness

    Synonym: Aware, conscious, apprised, informed, observant

    Antonym: ignorant, indifferent, senseless

    Sentence: She is cognizant of her responsibilities as the sales head of the organisation.

    10. Contours (noun): The broad outline of something, a way in something varies

    Synonym: outline, shape, form, blueprint

    Antonym: similarity, uniformity

    Sentence: She traced the contours of his face with her finger.

    Question (1-5): Answer the following questions

    1. Find out the word similar in meaning with ‘hindrance’

    1. Caress
    2. Captivate
    3. Captious
    4. Cessation
    5. Other than those given in options

    Solution: Option (4)

    The word hindrance means that there is some obstruction or disturbance in something and among the given options, cessation is the only word that means the same. This makes option (4) the right choice among the given options.

    2. Find out the word which means repercussion

    1. Exult
    2. Ecstatic
    3. Aesthetic
    4. Consequence
    5. Other than those given in options

    Solution: Option (4)

    Explanation: The word ‘repercussion’ means the result of something and the only word that means the same is consequence among the given options. This makes option (4) the right choice among the given options.

    3. Find the word which is opposite in meaning to the word dissuade

    1. Exempt
    2. Inept
    3. Adept
    4. Enjoin
    5. Evade

    Solution: Option (4)

    Explanation: The word ‘dissuade’ refers to making somebody disagree to something or forbid somebody to do something. The opposite word to this may be ‘enjoin’ among the given options as it means counsel or direct. It makes option (4) the right choice among the given options.

    4. Find out the right word which means languor

    1. Luscious
    2. Ludicrous
    3. Lenient
    4. Lassitude
    5. Other than those given in options

    Solution: Option (4)

    Explanation: The word ‘languor’ means tiredness or weariness or lethargy whereas ‘lassitude’ also means the same among the given options. It makes option (4) the right choice among the given options.

    5. Find the word which is opposite in meaning to the word ‘languid’

    1. Animated
    2. Fatigued
    3. Lax
    4. Leniency
    5. Exotic

    Solution: Option (1)

    Explanation: The word ‘languid’ means that somebody is tired or weary of something. Among the given options, ‘animated’ refers to something which is interesting or refreshing and that makes it the right choice among the given options.

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