Introduction

The hindu analysis for the day of 12 September 2023 for the UPSC CSE WBPCS preparation.

ECONOMY

The economic data coming out of Beijing over the past 3 months indicate that conditions are not so good for the world's second largest economy.
China's exports declined from a record high of $340 billion in December to$ 284 billion in May 2023.
China being the world's second largest economy is extremely dependent on investments rather than consumption models.
Many economy have followed investment driven model China's on it was near extreme
Investment was 50% of its GDP while household concern in 2010 was just 31%
Around 5 decades ago China's economy was considered as the center on foreign relations.
After a little slide down in the economy post the 1978 China song and average real growth of more than 9% and in several peak years the economic growth more than 13% which is referred as Beijing's growth miracle.
But still the policy was mainly focused on supply not on demand meaning that the growth in China GDP was filled by investment not domestic consumption.
The new analysis says that the government will have to pivot towards the consumption lead model rather than investment based model to handle this slowdown
As most of the countries are moving towards self sufficiency, it is important to focus on a consumption based model.
In the last decades China has shared 2.6% real growth rate of the world economy.
Adobe created this big chunk of the global growth because its economy was growing at about 89% a year but now it's growth rate is half of that.

Gresham's law says that bad money drives out good.
Comes into play when the exchange rate between two money or currencies is fixed by the government at a certain ratio which is different from the market price.
Fixation of price causes the undervalued currency that is the currency whose fixed price is lower than the market price goes out of circulation.
Where s as the overvalue currency remains in circulation that means whose fixed value is higher than the market values does not find any buyers.
Supply of a currency in the market rises as its price rises and falls as its price falls.
So when the price of a currency is fixed by the government at a level below the market price or the market extensively, the current supply drops while the demand for the currency rises.
This situation led to a currency shortage with demand for the currency outpacing supply.

The Shanti Swarup Bhatnagar award is organized by the council of scientific and industrial Research (CSIR).
Which is considered among the prestigious prizes for science in India.
Shanti Swarup Bhatnagar prize instituted in the memory of the first director general of the council of scientific and industrial Research.

RECIPROCITY defines the principle that if a signal can be transmitted from point A which is the source to point B which is the destination.
The same signal can also be transmitted from point B to point A simply by exchanging the position of the source and the destination.
One of the greatest examples of this principle used in a device is antennas which can both send and pick up signals in the form of electromagnetic energy.

According to the researchers for picoflare jets could be a source of solar wind which have important effect on the solar system at large scale as well as on the arts magnetic field.
Solar wind is a high speed stream of charged particles from the Sun.
It is stated by the scientist that the coronal holes are the sources of solid winds.
Coronal holes are a transient part of the sunscreen or the outermost portion of the sun's atmosphere.
Where that mustfair is relatively less tense and cooler and from where the sun's magnetic field extends into space.