Could focus on the supply chains of minerals such as Cobalt, Nickel, Lithium and also the 17 “rare earth” minerals.Besides the US, the MSP includes Australia, Canada, Finland, France, Germany, Japan, the Republic of Korea, Sweden, United Kingdom, and the European Commission.This new alliance is seen as being primarily focused on evolving an alternative to China, which has created processing infrastructure in rare earth minerals and has acquired mines in Africa for elements such as cobalt. It is an ambitious new US-led partnership to secure supply chains of critical minerals, aimed at reducing dependency on China.GS 2: International groups and InstitutionsĬontext: India is not a part of the Minerals Security Partnership.This would crash computer programs and even corrupt data as time stamps change. According to a blog published by Meta, which has been campaigning against the addition of a leap second, the clock moves from 23:59:59 to 23:59:60 before resetting at 00:00:00, and the addition of a negative leap second would mean a time jump.However, adding it would raise more issues than solutions, especially in the world of information & technology. Scientists suggest that if the planet continues to rotate faster and complete days in less than 24 hours, it could force them to add a negative leap second.Also, in the last four decades, the poles moved by about 4 metres in distance. As per the study, the satellite data from NASA’s Gravity Recovery and Climate Experiment (GRACE) mission calculated that the average speed of drift was 17 times faster than from 1981 to 1995.This is happening due to changes in the hydrosphere (hydrosphere is the total amount of water on Earth). Climate change has also caused the north pole to shift in the eastward direction since the 1990s.Global warming has led to significant melting of glaciers due to which our planet’s axis of rotation has been moving faster since the 1990s.While two-thirds of the Chandler wobble is caused by ocean-bottom pressure changes, the remaining one-third is by fluctuations in atmospheric pressure.Scientists in 2000 solved this mystery and said that the principal cause of the Chandler wobble is fluctuating pressure on the bottom of the ocean, caused by temperature and salinity changes and wind-driven changes in the circulation of the oceans.The new trend in Earth’s rotational speed is being attributed to the Chandler wobbleĬhandler wobble: Chandler Wobble, according to Nasa, is a motion exhibited by Earth as it rotates on its axis.The minute change was detected by the atomic clock that is used to measure the rotational speed of the planet to the minutest detail.This confirms speculations by scientists that the Earth’s rotation is picking up pace. A higher trade deficit can decrease the local currency’s value.Ĭontext: Earth completed its spin in 1.59 milliseconds less than 24 hours on June 29 this year. If trade deficit increases, a country’s GDP decreases.A weak currency can also be a cause as it makes trade expensive.More imports than exports impact the jobs market and lead to an increase in unemployment.This leads to an imbalance in their trade. Some goods not being produced domestically.The opposite of trade deficit is trade surplus.It can be calculated for different goods and services and also for international transactions.When money spent on imports exceeds that spent on exports in a country, trade deficit occurs.
Trade deficit or negative balance of trade (BOT) is the gap between exports and imports. This is a three-times increase from the $10.63 billion trade deficit reported in July last year.Owing to contracting merchandise exports and a rise in imports.In News: India’s trade deficit has widened to a record $31.02 billion in July.
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