The Chinese Economy and the MNCs

It is factual that China is one of the world’s emerging economies. It is categorized as one of the Asian tigers. This implies that its influence in the international system is felt even by developed states.Advertising We will write a custom essay sample on The Chinese Economy and the MNCs specifically for you for only $16.05 $11/page Learn More Chinese economy is growing at a fastest rate, which has made other players in the international financial system to review their economic policies. This paper analyzes the causes and effects of this new trend. Financial Times Report It is evident that Chinese economic and political policies are rapidly shaping the current world financial market. The recent significant step made by Chinese financial system is posing a threat to the World Bank and other global financial systems. According to the Financial Times, the Chinese Development Bank single handedly gave out $65 billion to governments and companies of the developing countries in the year 2009 and 2010. In the same period, the Chinese Export-Import Bank managed to lend out similar amount to African states and other developing countries in the Caribbean. Between mid 2008 and 2010, World Bank was able to assign a loan of $ 100.3 billion to borrowers from developing countries. This was aimed at responding to the financial crisis that occurred between mid 2008 and 2010. However, in the same period China managed to offer loans to Chinese and overseas energy producing companies at affordable interest rates, which ensured consistent production of energy even at times of financial hardships. For instance, it is notable that China issued huge loans to oil producing countries such as Russia, Brazil and Venezuela. It furthermore lent out considerable amount to the Indian company for the purchase of power equipments. Countries approached Chinese government and companies for loans to finance important projects such as railway construction in A rgentina.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More This move threatened the position of developed states in the international system, which forced the world financial regimes to engage China in discussions. China was further requested to take an action in order to end the financial crisis witnessed in the years. This proves that China is a force to reckon with in the international financial market (Cheng Zhou 2007, p. 21). The issue of financing oil-producing companies in particular threatened the U.S. economy. The US government on the other hand interpreted China’s move to finance oil-processing countries as an attempt to cut it from the world oil market. Although, in the real sense states and individuals from developing countries preferred Chinese financial assistance because of its terms. The interest charged is affordable to many and some are given preferential treatment. The Chinese lending institutions charge 10% of the total amount borrowed at a period of six months while the IMF demands 20% of the total amount in the same period (Bach, Newman Weber 2006, p. 501). Most importantly, Chinese assistance is not tied to political and social values such as democracy and transparency. Chinese government engages in trade with any kind of government or leader. Western aid has conditionality that cannot be met by many. For instance, Iran cannot qualify for aid from the western powers mainly because of witnessed cases of violations against human rights (Naughton 1993, p. 495). Causes of Chinese Success in the International System It is uncontestable that the Chinese economy is expanding at a very high rate as compared to other economies. Its rampant growth is largely attributed to the large volumes of exports. However, the country also imports high volumes of raw materials from other countries. What puts China in an advantaged position is the production of cheap goods that have dominated many foreign markets. The cheap products have given other foreign products stiff competition. The Chinese economy is greatly endowed with cheap labor, which enables most Chinese companies to run their operations at affordable costs. As a result, China has been able to achieve strong competitive advantage at the global market. The purchase of foreign businesses and government bonds has also placed the Chinese economy in an influential position worldwide. For instance, the Chinese government was able to purchase the U.S (Pettis 2005, p. 28). Treasury bond after the U.S. government found itself in a large budget deficit. Similarly, China purchased the Greek bonds after the government encountered hiccups in the economy.Advertising We will write a custom essay sample on The Chinese Economy and the MNCs specifically for you for only $16.05 $11/page Learn More Europe is said to be the largest market for the Chinese products. Ho wever, many countries saw it wise to collaborate with both developing countries and fastest growing economies with an ultimate goal of mutual benefit. The recent economical policies put forward by Chinese officials are alleged to focus on furthering Chinese businesses in other countries. In addition, the Chinese government is looking forward to stabilize its currency as well as internationalizing it. This will definitely have negative effects to the U.S. currency and economy (Cai 2006, p. 627). The government decided to hedge its currency to reduce the influence of international financial crisis to the economy (Clarke 2003, p. 498). Hedging implies reducing or managing danger. This is carried out through taking a stand in the upcoming market that is contrary to the one in the existing market with the aim of reducing or preventing hazards linked to price variations. This guarantees stability to both borrowers and international businesspersons. In the beginning of 1990s, China was rel ying heavily on agricultural sector for its economic improvement. However, large portion of workforce left the rural areas in search of employment in urban centers (Wu 2005, p. 441). Today China is gradually leaving the industrial based economy towards manufacturing and service based economy. This has largely been influenced by the fact that China is strongly embracing modern technology as well as value chain. This has consequently led to production of high quality products similar to those ones from superior economies. Recent researches indicate that China is the third largest trading nation in the world. China relies heavily on exports of manufactured goods for growth of the economy. Through this, the state has experienced a 25% rise in GDP in the last twenty years. Of the total GDP, sixty percent comes from exports. China has co-opted even the most powerful states in its development agenda, especially those from the EU. Chinese trading terms have attracted the western powers forc ing them to welcome Chinese MNCs in their financial systems. In the recent arguments, it is claimed that China is growing first because of the soaring levels of exports. In fact, China has been accused of dumping goods low quality to other countries (Wu Chen 2001, p. 1246). Often, the growth of general economy through exports undervalues the wellbeing of the domestic economy. China is now embracing consumer consumption, which is an advantage to its domestic economic growth.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More China is also blamed for its high level of investment in consumer goods. The data acknowledges that about 40 percent of GDP has been made by investing in finished goods (Taylor 2002, p. 211). This kind of investment is not safe to the economy since many people prefer saving their finances to spending them in unnecessary goods. The government understood this trend and acted accordingly by restricting private and public companies from manufacturing for local markets (Ye 1992, p. 127). This encouraged many companies to produce goods that would meet international standards. The only option for local companies was to produce for goods for export Effects of Chinese Domination Although China is doing very well in the export market, the country currently imports raw materials, expertise, capital goods as well as intermediate goods from a number of trading partners (Xiao Sun 2005, p. 45). The trading partners enjoy doing business with China because of excellent prices to their raw materials . Consequently, China does not earn substantial profits in its imports and exports trade. Nevertheless, China is not only regarded as having much exports in the world but also has a high level of imports, which puts it in fourth position worldwide (Tseng Mak 1996, p. 153). China faces this consequence as result of engaging in trade with many states. As it has happened in the past, China continues to experience steady flow of Foreign Direct Investment to its economy. According to statistics, it is approximated that non-financial FDI increased from US $60.3 billion in the year 2005 to US$ 63 billion in the year 2006 (Meyer Nguyen 2005, p. 73). This represented an increase of four and a half percent within two years. The state has capitalized on this increase to build up more financial relations with other states. Japan is alleged to be the largest investor in Chinese economy followed closely by Taiwan while EU ranks in the third position, with its heavy investment being in the techn ology sector (Zhu 2001, p. 31). However, China has significantly invested in other countries mostly in ICT, telecommunication, oil and industrial sector. Accordingly, the percentage of investment in Latin America is much higher as compared to that in Asian region. In particular, the largest investment of Chinese FDI stock is in Germany followed by Spain, UK and Denmark. Generally, the GDP of China stands at US$ 3 trillion, which is large though less as compared to sixteen trillion of the entire Europe (Chow 1993, p. 123). Conversely, China buys some products from Europe. This means that in case the Euro is to stabilize, Europe has to monitor the movement of the Chinese economy. Certainly, China is shaping the world economy. Comparatively, the Chinese companies are making imperative investment in Africa. For instance, the Wu Yi Company from China has invested in infrastructural development, specifically in the construction of superhighways Kenya. In exchange, the Chinese government a nd its multinational companies get an opportunity of operating businesses within the Kenyan territory without many obstructions such as imposition of quotas, payment of high tariffs and taxes mostly imposed on foreign commodities. In most cases, the U.S. economy as well as the European financial system fails to do well. In such an event, China seems to drive the economy through its share increase at the global market. In fact, economic analysts predict that in the next 10 or 20 years China will be one of the feared world economies. Chinese MNCs The Chinese market is growing rapidly with a lot of promising restructuring going on in the financial sector. This has no doubt attracted a number of multinational corporations to the economy (Ding 2000, p. 133). These emerging firms in the Chinese market are tagged as second-generation MMCs. In most cases, these businesses come up with several objectives that improve Chinese financial system. For instance, some target to build a dominant pos ition in the market while others focus on nationwide market and establishment of excellent businesses. However, in this country several MNCs find themselves in great problems of dealing with large number of public entities. Such agencies are set up to regulate the activities of firms. Through this, the government benefits from improved trade in the country. Apparently, many MNCs always endeavor to manage different business units in different parts in order to ensure value maximization and reduction of costs (Child Tse 2001, p. 12). This strengthens Chinese economy by diversifying it. The country does not face serious financial crisis in case of recession. In dealing with local partners, managers are sometimes faced with the challenge of being new in the market. This implies that local partners fail to understand the new commodity, the market and the best mode of distribution channel. Local partners also suffer from sourcing that is, they do not know where to get finances for sustai ning business (Delios Henisz 2003, p. 1158). Another problem that faces foreign investors in China is inadequate and unskilled personnel. It is near to impossibility to get a trained manager who is willing to be employed by a foreigner in China. Although a number of challenges exist in respect to MNCs investment in China, the government came up with a few organizational policies to ensure good performance of MNCs (Guo Han 2004, p. 96). MNCs have collaborated with government to strengthen the country’s global market. The third idea was to ensure that an efficient external relationship is established among MNCs by coming up with a powerful Chinese corporate center whose responsibility would be formulation of policies and eventual implementation. Finally, the MNCs were to have close and strong control on the perceived weak joint ventures. The MNCs were to have shares in weak businesses and have a right to propose good members of staff to such investments, as well as offering e xternal support. Most of the MNCs investing in China have to follow the Chinese corporate values in order to flourish. For the past few years, it was commended that majority of MNCs with investments in China did very well partly due to good performance of Chinese economy. Specifically, China contributed about 10 percent of the global revenues mostly derived from the 180 multinational corporations (Fernando 2007, p. 367). The government decided that almost the entire MNCs in China would have to reform their businesses by coming up with rules that are more favorable to issues pertaining to investment and reposition themselves in the market by employing a global strategy (Cushman 1985, p. 306). The country benefited from MNCs’ efforts because many investors were willing to enter the market. Chinese products are no longer facing stiff competition from other products in the world. China is no longer focusing on producing cheap products but also paying much attention on producing q uality products through employment of advanced technology in the production processes. Hardly will an organization flourish in its domestic market without having the corporation of the Chinese multinational corporation. It is however fascinating to note that several companies in china are state owned. If a company is not owned by the state then most probably, the government influences its operations through regulations and legal systems (Bach, Newman Weber 2006, p. 507). The unique feature that characterizes Chinese multinational corporations is its concentration of ownership. Family members own most of the Chinese MNCs. This has been assumed to have great effect on the performance of the Chinese corporations. For instance, the Chinese companies such as the Chinese Development Bank in which family members own majority shares outperform other companies in the world due to strong corporation among shareholders. This in turn transforms the company’s performance to new heights o f success (Child Rodrigues 2005, p. 390). In addition, Chinese companies generally employ the Japanese corporate governance style in their management. This kind of corporate governance always looks on the benefits of the organization to its stakeholders. The stakeholders comprise of shareholders, managers, employees, customers and the government itself. The idea behind this is to encourage each partner to work hard towards the overall performance of the organization. Certainly, value maximization does not encourage managers to pursue a goal of maximizing profit. This automatically prevents managers from fulfilling their selfish interest and consequently increases share value maximization on the side of shareholders. Therefore, Chinese companies encourage both profit maximization and share value maximization. This guarantees cooperation between shareholders and managers, which further ensures the wellbeing of customers and employees. There is no doubt that this has been the driving force behind the success of Chinese MNCs (Deschandol Luckock 2005, p. 32). It is obvious that great deal of issues should have automatically attracted MNCs in China while at the same time promoting Chinese firms elsewhere in the world. It is certain that the high level of population assures any firm of the large size of the product market. A large market ensures that manufactured products are easily disposed off (Zhan 1995, p. 89). On the other hand, the Chinese financial institutions are preferred by most MNCs as far as capital financing is concerned. Perhaps the low interest rates offered by Chinese lending institutions as well as the long-term basis for full repayment of loans could have attracted large number of MNCs in China. In addition, most MNCs find it impossible to operate in a country, which have political policies that interfere with their smooth operations (Boisot Child 1996, p. 620). Conclusion Diverse policies have promoted investments of Chinese firms in other coun tries. For instance, the â€Å"Go Global† policy has strengthened interactions between China and other trading partners. In particular, within the African continent China was able to form the Forum for China Cooperation. This has consequently improved the style in with which China is doing business with its African partners. The connection between Africa and China is furthermore strengthened by the established investment fund which is has a budget of approximately five billion US dollars. This simply promotes more Chinese investment in the African continent. Similarly, the National Development and Reform Commission (NDRC) that was set up to regulate and harmonize Chinese economy and its subsequent industrial policy has successfully come up with strategies that enable domestic firms to easily access loans. This is interpreted as an attempt to finance â€Å"Going Global† strategy. Transparency, liberalization and technological advancement shown by Chinese government and its investment firms have significantly led to soaring rate of outward investment. Finally, it is evident that liberalization of trade as well as government support continues to promote MNCs operations in the domestic market while promoting domestic firms’ investment abroad. It is therefore evident that China is re-shaping the world financial market through several means. Many developed countries have come up with policies aimed at countering the influence of China in the world market. Chinese corporate governance is attributable to its popularity. It should be noted that even though China is powerful economically; it remains a third world country. Many resources in the country belong to the state implying that many are languishing in poverty. List of references Bach, D, Newman, AL Weber, S 2006, â€Å"The international implications of China’s fledgling regulatory state: from product maker to rule maker†, New Political Economy, Vol. 11, no. 4, pp. 499-518. Bois ot, M Child, J 1996, â€Å"From fiefs to clans and network capitalism: explaining China’s emerging economic order†, Administrative Science Quarterly, Vol. 41, no. 4, pp 600-628. Cai, C 2006, â€Å"Outward foreign direct investment protection and the effectiveness of Chinese BIT Practise†, Journal of World Investment and Trade, Vol. 7, no. 5, pp 621-652. Cheng, LR Zhou, X 2007, â€Å"Characteristics of the new policy system of Chinese foreign direct investment†, China-USA Business Review, Vol. 6, no. 3, pp 19-21. Child, J Rodrigues, SB 2005, â€Å"The internationalization of Chinese firms: a case for theoretical extension?† Management and Organization Review, Vol. 1, no. 3, pp 381-410. Child, J Tse, DK 2001, â€Å"China’s transition and its implications for international business†, Journal of International Business Studies, Vol. 32, no. 1, pp 5-21. Chow, GC 1993, â€Å"How and why China succeeded in her economic reform†, Chi na Economic Review, Vol. 4, no. 2, pp 117-128. Clarke, DC 2003, â€Å"Corporate governance in China: an overview†, China Economic Review, Vol. 14, no. 3, pp 494-507. Cushman, DO 1985, â€Å"Real exchange rate risk, expectations, and the level of foreign direct investment†, The Review of Economics and Statistics, Vol. 67, no. 2, pp 297-308. Delios, A Henisz, WJ 2003, â€Å"Political hazards, experience, and sequential entry strategies: the international expansion of Japanese firms, 1980–1988†, Strategic Management Journal, Vol. 24, no. 1, pp 1153–1164. Deschandol, JM Luckock, T 2005, â€Å"Tips for foreign vendors in Chinese M A†, International Financial Law Review, Vol. 24, no. 1, pp 31-32. Ding, XL 2000, â€Å"Informal privatization through internationalization: the rise of nomenklatura capitalism in China’s offshore business†, British Journal of Political Science, Vol. 30, no. 1, pp 121-146. Fernando, S 2007, â€Å"Chrono logy of China-Africa Relations†, China Report, Vol. 43, no. 1, pp 363-373. Guo, J Han, S 2004, â€Å"Reforms of China’s foreign exchange regime and RMB exchange rate behaviour†, The Chinese Economy, Vol. 37, no. 2, pp 76-101. Meyer, KE Nguyen, HV 2005, â€Å"Foreign Investment Strategies and Sub-national Institutions in Emerging Markets: Evidence from Vietnam†, Journal of Management Studies, Vol. 42, no. 1, pp 63–93. Naughton, B 1993, â€Å"Deng Xiaoping: the economist†, China Quarterly, Vol. 135, no. 1, pp 491-514. Pettis, M 2005, â€Å"Buy abroad, benefit at home†, Far Eastern Economic Review, Vol. 168, no. 7, pp 27-29. Taylor, R 2002, â€Å"Globalization strategies of Chinese companies: current developments and future prospects†, Asian Business and Management, Vol. 1, no. 2, pp 209-225. Tseng, CS Mak, SKM 1996, â€Å"Strategy and motivation for PRC outward direct investments with particular reference to enterprises from t he Pearl River Delta†, in Macpherson, JYS Cheng, Y (eds.) Economic and Social Development in South China, Edward Elgar, London, pp 140-161. Wu, HL Chen, CH 2001, â€Å"An assessment of outward foreign direct investment from China’s transitional economy†, Europe-Asia Studies, Vol. 53, no. 8, pp 1235-1254. Wu, X 2005, â€Å"General Situation of the implementation of â€Å"Going Global† strategy in 2005†, in MOFCOM (ed.), China Commerce Yearbook 2006, MOFCOM, Beijing, pp 440-443. Xiao, J Sun, F 2005, â€Å"The challenges facing outbound Chinese MA†, International Financial Law Review, Vol. 24, no. 12, pp 44-46. Ye, G 1992, â€Å"Chinese transnational corporations†, Transnational Corporations, Vol. 1, no. 2, pp 125-133. Zhan, JX 1995, â€Å"Trans-nationalization and outward investment: the case of Chinese firms†, Transnational Corporations, Vol. 4, no. 3, pp 67-100. Zhu, R 2001, â€Å"Report on the outline of the Tenth Five-Year Plan for National Economic and Social Development (Excerpts)†, in Shi Guangsheng (ed.) Almanac of China’s Foreign Economic Relations and Trade 2001, MOFCOM, Beijing, pp 31-44. 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Life of Trouvere, Poet and Musician Adam de la Halle essays

Life of Trouvere, Poet and Musician Adam de la Halle essays The French-born, 13th century-era trouvre [sic] (meaning, in English, troubadour); poet; court musician and composer; and founder of early French secular theater Adam de la Halle, is best known as a an original and innovative medieval composer of chansons (songs); rondeau (rondos) ballet, and other music, much of it for the new French secular theater (which Halle himself founded) of that period (Adam de la Halle, Encyclopedia Britannica Online). In his lifetime, Adam de la Halle was perhaps better known in his own time by the jname Adam le Bossu, which means in English (approximately): Adam the Hunchback. The hump in Halles upper back was a birth defect, which caused Halle, all his life, to appear slightly stooped in his posture; and to be noticeably if not extremely hunch-backed (Adam de la Halle, Encyclopedia Britannica Online). Halle was born around 1237, in Arras, France, a city located in the Picardy region of northern France (Arras, France). Within this essay, I shall disc uss some of Adam de la Halles major artistic accomplishments:, e.g., within the 13th century French secular theater he founded; in poetry and musical composition, and will also explore various other highlights and key events of his life. According to the article Adam de la Halle (Wikipedia), Halles father, Henri de le Hale, one of the city of Arrass notables, intended that his son join the church. However, Adam de la Halle himself did not ever in fact do so. Obviously, he much preferred an active, even peripatetic life filled with artistic creativity (and quite secular creativity, at that). Nowhere is this medieval French musical artists essentially non-religious, personal orientation better reflected than within his creative works, especially the music and poems Halle composed for the French secular theater he founded. In this same ...

An economic analysis of the Bangladeshi economy

An economic analysis of the Bangladeshi economy Geography Bangladesh is situated in the Bay of Bengal in south Asia. It is bounded by India to the west and north; to the southeast, it borders Myanmar. It is mainly a low-lying floodplain. About one third the total area is deltaic and is prone to flooding in the rainy season from May through September. The river Ganga flows into the country from the northwest, while from the north enters the river Jamuna. Dhaka is the capital city and is near the point where those river systems meet. Hardwood forests are present in the Chittagong hill tracts. The vast river delta area is home to the dominant plains culture. The hilly areas of the northeast and southeast are occupied by much smaller tribal groups occurred mainly hilly regions of the southeast and many have strongly resisted control by the national government and the inhabitants pressure from Bangladeshis who move into and try to settle in their traditional areas. Demography Bangladesh is the most densely populated no island nation i n the world. With approximately 135 million inhabitants living in an area of 55,812 sq miles, there are about 2,233 persons per square mile. The mainstream of the population (98 percent) is Bengali, with 3 percent belonging to tribal and other non-Bengali groups. About 83 percent of the population is Muslim, 18 percent in Hindu. Urbanization is scheduled rapidly, and it is estimated that 33% of the population entering the manual labour force in the years to come will be a part of agriculture, though many will likely find other kinds of work in rural areas. The areas around Dhaka and Comilla are the most densely populated. Area: 147, 575 sq. km. Cities:  Capital–Dhaka .  Other cities–Chittagong, Khulna, Rajshahi. Terrain: Mostly flat alluvial plain, with hills around the northeast and southeast. People   Nationality:–Bangladeshi(s). Religions: Muslim 84%; Hindu 17%; Christian 0.3%, Buddhist 0.7%, others 0.2%. Languages: Bangla (official, which is also known as Bengali), English. Education:  62%. Work force (70.86 million):  Agriculture, forestry, and fisheries–63%; production–11%;mining and quarrying–0.2%.   . Bangladesh has a relatively young populace, where 0-25 age group comprise 65%, while 3% are 65 or older. The important tribal groups outside the Hill tract are the  Santhals and the  Garos. Also there are  Kaibartta,  Meitei,  Mundas,  Oraons, and  Zomiethnic groups.  Human trafficking  has been a everlasting problem in Bangladesh  and illegal immigration has been a cause of resistance with Burma and India. Health and education levels have lately improved as poverty levels have reduced. Bangladeshis mostly are rural, living on survival farming. Health problems abound, ranging from  water contamination, to  arsenic contamination of groundwater  and diseases including  malaria, typhoid. leptospirosis and  dengue Politics Bangladesh is a  united state  and  parliamentar y democracy.  Direct elections in which all  people, aged 18 or over, can vote are held once in five years for the  parliament  known as  Jativ Sangsad. The parliamentary building is known as the  Jatiyo Sangshad Bhaban. Currently the parliament has 345 members together with 45 retained seats for women, elected from single-member constituencies. Bangladesh is governed by a multi-party parliamentary system of government. Other ministers, state ministers and deputy ministers are selected by the Prime Minister. The PM nominates the cabinet members from the Parliament members and one-tenths of the total members are from outside of the Parliament.

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Cash flows(inflow-outflow-operating,investing,financing), Depreciation, Ratios,Income Statement, Retained earning Statement, Internal control procedures - Case Study Example It is calculated by subtracting the current asset from the current liabilities of the company. The negative figure means that the liabilities are more than the assets. Earnings per share (EPS) are considered one of the most important financial ratios from the investor’s point of view. The ratio highlights the average earnings from the shares transacted and is calculated by dividing the profit attributable to the common share holders and multiplying them with the weighted average number of shares outstanding during the period. Earnings per share of 0.57 can be interpreted as if the investor invests $1 in the company, he will earn $0.57 on his investment. Debt ratio, which calculated by comparing the total liabilities to total assets, is a primary tool in determining the influence the company is under as a result of obtaining finances from sources other than equity. A lower ratio represents that the company is utilizing its equity in order to finance its operations and thus curtailing the financial risk. A ratio of 0.63 represents that 63% of the companys assets are financed by debt. Free cash flow method is basically a measure of financial performance of the company which is calculated as free cash flows minus the capital expenditure. From pure financial management’s perspective, free cash flow can be defined as the cash which the company is able to generate setting aside the money required to maintain or expand its current asset

Reforming global governance Essay Example | Topics and Well Written Essays - 4000 words

Reforming global governance - Essay Example There were also found substantial evidence that the provisions of the TRIPs Agreement were unscrupulously invoked to advance the interests of transnational pharmaceuticals over the poor and sick patients who do not have access to essential life-saving medications. It has been uncovered that despite the flaws and partisanship of the GATS and its erstwhile predecessor Multilateral Agreement on Investment, in favor of rich nations and transnational corporations, WTO zealously worked in vain for their implementation. Heated debates during the Seattle Millennium Round confirmed considerable inefficiency of the part of the WTO to dispense its duties for global governance of trade. In all the areas considered in this paper, WTO flaunted its corporate agenda in the guise of free trade. The World Trade Organization (WTO) is the lone international organization which takes charge of trade policies between and among nations. Its headquarters is located in Geneva, Switzerland. The aim of the global body is to assist manufacturers and traders of goods and services in their business. Created in the year 1995 by the Uruguay Round of negotiations from 1986 – 1994, WTO now consists of 153 member countries. It main functions include: (1) administration of WTO trade agreements; (2) provision of a forum for trade-related negotiations; (3) handling of trade dispute; (4) monitoring of trade policies; provision of technical assistance and training for developing countries; and (4) cooperation with other international organizations. The WTO budget for the year 2009 is 189 million Swiss francs. It present director-general is Pascal Lamy (â€Å"What is†, 2008). The WTOs founding and guiding principles remain the pursuit of open borders, the guarantee of most-favored-nation principle and non-discriminatory treatment by and among members, and a commitment to transparency in the conduct of its activities. The opening of

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War Poetry Essay Read Owens Dulce et Decorum est. the Kings speech before Agincourt in Shakespeares Henry v. Compare how and why the two Writers manipulate their audiences feelings about war. Dulce et Decorum est was written by Wilfred Owen during the time of world war one. The poem is known for its horrifying imagery and its condemnation of war. The difference between Dulce et Decorum est to Henry v, is that first of all it is written as a personal experience of war where as Henry v is written as a poem in a history play, so its themes and imagery is portrayed from a more personal perspective of war. William Shakespeare the famous playwright, is the author of the poem taken from the history play Henry V. The poem taken is a dramatic monologue by Henry v responding from a comment his cousin Westmoreland. The idea or theme of war is portrayed in both Owens D. E. D and William Shakespeares Henry v. , but they are put across in two very different ways. First of all in Henry v poem is more of a speech from a king ho is trying to install faith among his soldiers and most importantly his cousin Westmoreland. Where as Owens D. E. D is more of a physical and traumatizing account of a war that has already taken place. In Owens D. E. D we can see that the images that are given out are those of struggle not only physical suffering but also those of also mental suffering. With use of similes the physical suffering is shown to us. Coughing like hags is a simile used to relate to something we know and to give us not just to give us an image but a sound of the suffering. As hags is a word used to describe old witch like people. Whereas in HenryV the image created is that of honour and triumph. Images such as st crispians day a day created to remember the soldiers that fought for their country and king.

Review of The Devil Behind The Mirror Essay -- Dominican Culture

Steven Gregory’s book entitled The Devil Behind The Mirror is an ethnographical study of the Dominican Republic. The Dominican Republic is in the Caribbean, it occupies the Western half of an island, while Haiti makes up the Eastern portion. Gregory attempts to study and analyze the political, social and cultural aspects of this nation by interviewing and observing both the tourists and locals of two towns Boca Chica and Andres. Gregory’s research centers on globalization and the transnational processes which affect the political and socio-economics of the Dominican Republic. He focuses on the social culture, gender roles, economy, individual and nation identity, also authority and power relations. Several of the major relevant issues facing Dominican society include racism, sexism, and discrimination, economy of resort tourism, sex tourism and the informal economy. The objective of Gregory’s ethnographic research is to decipher exclusionary practices incorporat ed by resort tourism, how it has affected locals by division of class, gender, and race, increasing poverty and reliance on an informal economy. During Gregory’s ethnographic research in the Dominican Republic, he encounters many individuals, some tourists, others expatriates, as well as citizens native to the island. One individual by the name of Minaya, discusses changes in the sugar cane industry. In 1988 he became a worker at a sugar mill that his uncle owned, but claimed that the industry became â€Å"Capitalized† (Gregory 2007: 15). He explains this capitalization as the industry being leased out to private corporations, which incurred poor working conditions and minimal wages upon the laborers. Minaya also expresses the fact he has no formal education, a big factor... ... as the Dominican Republic. Works Cited Ferguson, James. The Anti-Politics Machine: â€Å"Development†, Depoliticization, and Bureaucratic Power in Lesotho. Minneapolis: University of Minnesota Press, 1997. Print. Freeman, Carla. â€Å"Designing Women: Corporate Discipline and Barbados's Off-Shore Pink-Collar Sector.† Cultural Anthropology 8.2 (1993) 169-186. Web. 12 Nov 2010. http://www.jstor.org/stable/656469 Gregory, Steven. The Devil Behind The Mirror: Globalization and Politics in the Dominican Republic. California: University of California Press, 2007. Print. Kearney, M. â€Å"The Local and the Global: The Anthropology of Globalization and Transnationalism.† Annual Review of Anthropology 24, 1995: 547-565. Meier, V. â€Å"Cut-flower production in Colombia—a major development success story for women?† Environment and Planning 31, 1999: 273-289.

Appropriate Software and Hardware Essay

The package that I will be using will be Microsoft PowerPoint. This is the only software that will be needed, other than MS Windows in which it runs. PowerPoint is the leading presentation graphics program and comes wit MS Office, which Alex Ferguson already owns. A graphics program will also be used to manipulate the pictures image once they have been scanned in or copied from the Internet. The hardware required would be a scanner with which to scan in some of the photographs that have been taken of the team, and a digital camera, which I can borrow to take some pictures of the stadium. These can be imported into PowerPoint directly from the camera using the Insert, Picture, From Scanner or Camera command on the menu. A scanner will also be required to scan in pictures of the team, managers and stadium so fans can identify players/managers by picture and not just by name. A good monitor will be required since this information system will be running shop hours. With this in mind it will also be necessary to use a screen-saver built in to MS Windows in order to preserve the screen. A custom screensaver could be added at a later date. Lastly, a good mouse will be required for fans to navigate the system by clicking on the buttons. Data Required The manager of the team will be able to supply me with information on his team. More details about the team can be found on the Manchester United Official Website. There are also a lot of books and magazines on the team and its history. Pictures will also need to be either scanned in or copied from the Internet. A chart showing the information that I will need and where it will come from is shown on the next page: Data Manipulation The scanned/copied from the Internet, photographs and pictures can be imported into a Paint package and a text box added telling the fans what the picture/photograph is showing. Information gathered about the team will be typed in and formatted with appropriate fonts and colours. Data Flow Updating site information Alex Ferguson updates the team information whenever it changes. The new information is then stored in the application file. Dealing with customer enquires There will be a menu system with option buttons. A fan requests information from the system by clicking on a button. The system finds and displays the information for the customer. Format of information and graphics There will be around 13 slides in order to display all the information and the team history of each decade. Each slide will contain at least one picture or animation to keep the interest of the fan. The user requirements state that there should be a clear title on every slide. This should be in a larger font and in a different colour from the rest of the text. All buttons used on the slides should be kept in the same place on every slide. This will ensure that the viewer will always know where to expect the ‘Back to Start’ button to be on the page, making it easier to use. The interface should not use too many colours. A uniform look should be chosen and adhered to. Likewise, the selection of animations and transitions must be restricted so that everything does not look all jumbled together. These constraints will all add to the system looking more professional in the end.

On the Job Training

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Robert Burns Quotes

Robert Burns Quotes Recognized as one of the greatest Scottish writers of all time, Robert Burns had a great deal to say. He was born in 1759 and is perhaps the most well-known Scots language poet. However much of his poetry was also written in English, which often included the bluntest of his harsh political commentary. His English writing often included Scottish dialects. He was a charismatic pioneer of the Romantics literary movement. His most famous work is Auld Lang Syne which is sung in many countries at the stroke of Midnight on New Years Eve to help usher in the new year. Burns claims to have transcribed the folk song from an old man whod had the song passed on to him.   Political Robert Burns Quote While Europes eye is fixd on mighty things, The fate of empires and the fall of kings; While quacks of State must each produce his plan, And even children lisp the Rights of Man; Amid this mighty fuss just let me mention, The Rights of Woman merit some attention. Inspirational Quotes Dare to be honest and fear no labor. Firmness in enduring and exertion is a character I always wish to possess. I have always despised the whining yelp of complaint and cowardly resolve. His locked, lettered, braw brass collar, Shewed him the gentleman and scholar. Libertys in every blow! Let us do or die. Mans inhumanity to man makes countless thousands mourn! Nae man can tether time or tide. Nursing her wrath to keep it warm. Prudent, cautious self-control is wisdoms root. Suspense is worse than disappointment. There is no such uncertainty as a sure thing. Nature Quotes The daisys for simplicity and unaffected air. The snowdrop and primrose our woodlands adorn, and violets bathe in the wet o the morn. Companionship Quotes The wide world is all before us - but a world without a friend. To liken them to your auld- warld squad, I must needs say comparisons are odd. Afflictions sons are brothers in distress; A brother to relieve, how exquisite the bliss! Ah, gentle dames! it gars we greet, To think how mony consels sweet, How mony lengthened, sage advices, The husband frae the wife despises. And may you better reck the rede, than ever did th adviser. And there begins a lang digression about the lords o the creation.

Response paper Essay Example | Topics and Well Written Essays - 750 words - 7

Response paper - Essay Example During the 1500s, this expansion continued the journey reaching its zenith in 1590 when the empire became truly gigantic and influential. The Ottomans were not only at the height of power at this point in the history of the empire, but they also became very progressive socioeconomically. Using the gunpowder technology, the Ottomans managed to thwart the Safavids establishing their influence on them. This technology helped a lot in facilitating the Ottoman successes and ensuring the empire’s dynamism and expansion. The empire also expanded due to growing influence of the Sultan because many rulers like the one of Algiers voluntarily submitted to Selim clearly intimidated by him. Growing expansion of the Ottoman empire and establishment of authority in different states helped the Ottomans in controlling the trade coming from those areas. This ability to control the trade and interact with a broad range of people from diverse cultural backgrounds helped the Ottoman empire to grow economically and socially. The empire reached its maximum size when benefiting from dynastic issues encountered by the Safavids, the Ottomans â€Å"in a war between 1578 and 1590, captured Safavid territory in the Caucasus and western Iran† (Imber, 2004). Like the Ottoman empire, the Safavids also made the empire economically strong by benefiting from their control on trade. The empire was based in what is modern day Iran. So, the strategic location between East and West promised the Safavid empire a fascinating stronghold on trade. General consensus is that the economic strength of the empire came from its highly strategic and valuable location â€Å"on the trade routes† (BBC, 2009). It was this control on trade between East and West that the Safavids became influential enough to challenge two strong empires, one from East called the Mughal empire and other from West known as the Ottoman empire. It is also agreed that during the period from 1501 to 1722,

Analyze a situation in which you were faced with a moral dilemmaof Essay

Analyze a situation in which you were faced with a moral dilemmaof whether or not to obey a figure of authority or yield to group pressure - Essay Example Individuals have little or no time to make weight sides and make decisions accurately. This makes it even trickier considering that each of the options has its own results. In addition, none of the options can be referred to as illegal but rather unethical. Such dilemmas range from very simple acts such as completing an assignment or copying it from the internet to very complex situations that may involve loss of life Everyone is forced by events to make preferences or decisions on a daily basis. More often than not, such conditions may be uncomfortable or embarrassing and need complicating judgement. Such conditions usually necessitate answering the question; what is the ethically better choice? Such situations come about there being no situation that is wholly ethical in itself. Through ethical interpretation, individuals consider the possible implications and consequences of actions in response to principles or ethical dilemmas. Multiple moralities are a major issue in moral dilemmas especially because distinct to the legislature, morals are not clearly stipulated and often change depending on issues like religion and location. There are some rare cases of multiple moralities whereby individuals may be faced by ethical dilemmas due to overlap in moral believes. In such cases, it becomes even trickier since the person has to forego one or more of the choices. Multiple modalities may also come up as a result of representing people with different cultural backgrounds and thus different moralities. Such cases are difficult to resolve due to the time constraint. In the case of an ethical dilemma, an individual regards himself as having moral background to do either of the actions. Noteworthy is the fact that it is impossible to do both actions simultaneously. This further defines a moral dilemma in ethical terms. The fundamentals of a moral dilemma may include: a situation where an individual (agent) is obligated to do every one of