Trade Blocs — Mains Questions

Analyze India's selective approach to regional trade integration, particularly its decision to withdraw from RCEP negotiations while maintaining active participation in ASEAN Plus mechanisms. What are the strategic implications of this approach for India's economic diplomacy?

Examine the role of modern trade blocs in addressing 21st-century economic challenges such as digital trade, supply chain resilience, and environmental standards. How do these developments affect the traditional concept of regional economic integration?

Critically evaluate the economic theory of trade creation versus trade diversion in the context of contemporary mega-regional agreements like RCEP and USMCA. How do these concepts apply to developing countries' participation in modern trade blocs?