The US

Abstract China and United States are among the largest nations on earth. China is a country found in Asia just along the Pacific Ocean and is the third largest country in the globe. Moreover, it is the most populated country in the world with over 1.3 billion people. Her land size is 3,705,407 square miles.Advertising We will write a custom research paper sample on The US-China Trade specifically for you for only $16.05 $11/page Learn More On the other hand, United States is a country found in the Western, Northern and Eastern hemisphere. It is slightly bigger than China with land size of 3,794,100 square miles. Additionally, it has a population of 307 million people. Despite their geographic positions, the two countries are major trade partners. Undoubtedly, international trade plays an important role in uplifting the economic standards of countries. Different countries collaborate to create markets for the exchange of goods and services. For example, t rade relationship between China and the United States of America dates back to the early days of America’s Independence. In fact, after the Second World War, China became the leading trading partner of the United States. However, upon the foundation of the Republic of China in 1949, trading activities between the two nations has had troubles. This study examines the trade links between these two countries. Additionally, the study involves the review of trade policies, treaties, and even sanctions that enhance trade. This study reveals that, since then, trade sanctions have remained part of the US-China economic and business relations. However, the sanctions have assumed different forms on dissimilar levels of sternness and times (Louis and Bull 127). Introduction The United States imposed selective controls of trade with China immediately after the communist forces won the civil war in 1949. The government of United States progressively tightened export policy rules. Some yea rs later, China entered a war with Korea forcing United States to suspend trade ties with China. In the international scene, United States has always been a major player in trade negotiations. Thus, in order to ensure that no other country participated in trade with China, United States and other countries such as Japan and Britain created the Committee on Multinational Export Controls (COCOM). The main role of this body was to supervise the ban. In fact, by the end of 1951, there were no trade ties between United States and China. In 1971, China recaptured its seat in the United Nations. Thereafter, President Richard Nixon made a historic visit to China. Following intense negotiations between the two nations, COCOM slackened the export controls and allowed China to get equal treatment like the Soviet Union.Advertising Looking for research paper on international relations? Let's see if we can help you! Get your first paper with 15% OFF Learn More Subsequently, this for ced the US to permit its populace to make purchases from the Republic of China and compensate them in dollars. Since then, the total trade volumes between the two nations expanded from zero to nearly $2.4 billion in the late 1970s. This is the year when the two countries formally established diplomatic relations and signed the Trade Relation Agreement (Lehmann and Lehmann 158). This study reveals that this was just the begging of the numerous trade agreements that followed in the subsequent years. Some of them included Agreement on Civil Aviation and Sea Transportation and the Agreement on Avoidance of Double Taxation. In addition, the two countries formed three joint committees on commerce, science, technology, and economic affairs to manage trade relations between the two countries. By 1988, China’s exports had reached over $40 billion and the total trade topped to 480 billion dollars. However, one year later, US suspended its trade engagements with China following the Tian anmen Square incident. Other sanctions included a deferral of authorized and military interactions between the two nations, a ban on the US trade financing and investment insurance for China projects. Additionally, United States imposed a ban on export of military and police equipments to China. On realizing this, China resorted to open door policies to enable it become significant in international markets. For instance, she took apt measures to move state owned businesses towards a market economy in order to encourage foreign investment from other countries. Surprisingly, China’s international trade continued to grow (Table 3). In February 25, 1995, following intense negotiations, the two countries signed an IPR enforcement agreement. The main role of this agreement was to address intellectual property rights and trademarks. In addition, this agreement increased market entrance for products based on intellectual assets. In 1949, China also became a member of the General Agre ement on Tariffs and Trade (GATT) and World Trade Organisations (WTO). Sadly, the following year, China lost its membership in the two organisations and stayed in the cold for 36 years. Again, China embarked on a strenuous road of negotiations with members allied to GATT/WTO for 15 years. However, it had to reduce tariffs and increase market access for foreign goods and services in order to become a member again. Upon admission into the WTO, China and United States entered negotiations and signed new trade agreements. Moreover, in May 2000, the American House of Representatives passed legislation that granted permanent normal trade relations with China (Halley and Wendell 130-148).Advertising We will write a custom research paper sample on The US-China Trade specifically for you for only $16.05 $11/page Learn More Since then, China has remained a principal trade partner of the United States. According to statistics from the US department of trade, China is the fourth largest importer of US commodities. Additionally, it is the eleventh largest purchaser of US commodities after Canada, Japan and Mexico. For instance, in 2000, China’s exports and imports from America accounted for 2.07 % and 8.58 % of its entire exports and imports respectively. On the other hand, China has also benefitted greatly from the United States through importation of various commodities. For instance, by 2000, statistics indicates that China’s overall exports and imports to and from the United States stood at 21% and 9% respectively (Halley and Wendell 150). Some of the key exports from China to the United States include clothing, machinery, sound and reproduction equipment, electrical machinery, apparel, footwear, games and toys. On the other hand, the exports from the US to China include transport equipment, cereal preparations, textile fibres, sound equipment, fertilizers and telecommunications. However, the increasing USA current account de ficit has become an obstacle to smooth trade between the two countries. Other factors include US’s economic sanctions on exports to China, China’s currency relocation to other countries and China’s stumpy labour cost (Table 1). Trade Imbalance Trade imbalance affects the smooth running of international trade. For instance, the two countries have accumulated a trade shortfall of over two hundred billion dollars. This was an increase from $162 billion from the previous year (Table 2). Analysts blame the deficit for the loss of jobs in the US manufacturing industry. Notably, the trade imbalance emanating out of the US trade deficit is consent in disguise for China. In fact, China grows its gross domestic product through international trade. For instance, 80% of the China’s GDP comes from international trade (Halley and Wendell 146). Despite the few done drums, experts assert that the US-China trade relationship is upright and healthy. For instance, the cheap manufactured goods from China have and keep the US inflation rate relatively low. Most importantly, this trend has reduced the burden on the poor and the middle class consumers who are key drivers of the economy. In addition, this trend has helped the US investors to make profits from their ventures, and this has facilitated the reduction of the US’s national debts (Dayer 34-76).Advertising Looking for research paper on international relations? Let's see if we can help you! Get your first paper with 15% OFF Learn More Currency Wars Recently, the manner in which China treats its currency in foreign exchange markets has elicited criticism from the United States. US criticize the low valuation of the Chinese Yuan citing numerous consequences. Consequently, this makes Chinese products cheaper in America than in China. On the other hand, the US goods have become expensive in China. Furthermore, United States critics assert that China’s defiance to play by international economic rules cripples the ability to compete on a level playing ground. For example, if China increases the value of the Yuan, United States will benefit from her exports to China. However, the main reason of controlling the appreciation of the Chinese Yuan is to promote internal interests such as controlling inflation and making Chinese firms relevant in international markets (Foot 210-214). Protectionism Protectionism remains an obstacle towards effective trade between United States and China. For instance, the congressional uproar in 2005 over the energy security compelled the Chinese energy company to withdraw from the deal involving controlling the shipyards lining the Panama Canal. Correspondingly, China also reacted by stopping the acquisition of the purchase of Chinese firms by firms from the United States. Intellectual property The respect for international property rights is definitely the principal source of anxiety between two countries’ trade relations. In fact, the constant violation of intellectual property rights and piracy are affecting the trade relationship between United States and China. In fact, counterfeit goods are dangerous to any economy. Perhaps this is the reason why very many countries continue to enact new laws to prevent piracy. However, these measures have not fully controlled this menace (Foot 219-254). The Chinese government proposes to impose stricter and rigid IPR enforcement laws. However, the US has threatened to dispute the move by China before the WTO. Nevert heless, the move is not palatable because China might mount a vigorous arbitration procedure in order to win the challenge (Foot 198-216). China’s plan to modernize the economy and promote indigenous innovation China runs its trade affairs based on the National Medium and Long Term Program (NMLP) drafted by the China state council. This document undoubtedly presents an ambitious plan to modernize the structure of the China’s economy. China wants to become a global leader in manufacturing by 2050. The plan proposes the reduction of the China’s dependence on foreign technology by 50 percent. Some of the principal objectives of NMLP by 2020 include development of science and technology hubs, reduction of public expenditure and increasing production. The document also gives priority to the development of other sectors such as aerospace, information technology and space programs. In addition, according to NMLP document, the Chinese government must ensure that there a re strong foundations to initiate domestic innovations. Consequently, this will enhance her economic levels and promote competitiveness in international markets. According to China’s policy makers, this will propel the country to achieve its goals and objectives. China can only achieve these goals through proper formulation and implementation of clear-cut regulations guiding the country’s procurement law (Dayer 43-58). The US-China Trade Concerns Numerous US companies started to raise concerns over the numerous circulars published and distributed from Chinese authorities. These circulars are marketing tools meant to protect and promote the indigenous innovation Product Accreditation System. The US business community expressed deep concerns over the circulars. They argued that they depicted aspects of protectionism, which has negative effects on internal trade. In other words, China preferred domestic firms to win procurement tenders and not those from other countries. According to US, this prohibited non-Chinese firms from participating in the China’s procurement market. US reacted against the China policies terming them discriminatory because they give preference to the Chinese firms. Consequently, this is discrimination to US firms, and she called WTO to review China’s trade internal policies (Dyer 98-145). China’s response to the US concerns The Chinese authority responded to the US concerns over its indigenous invention policies by arguing that they allow both domestic and foreign firms to participate in the tendering process without any discrimination. Moreover, the Chinese authorities even cited some US firms that had won tenders to supply equipments and other commodities. Additionally, during the visit by President Jintao to the US in 2011, the Chinese government stated that it would ratify its invention policies in order to allow fair competition in the procurement market. In the same year, during the US-China tactica l and economic dialogue, the Chinese government pledged to remove all indigenous invention catalogues in order to allow free between the two countries. However, the US economic experts point out that the NMLP document does not encourage free trade competition between the two countries and proposes its withdrawal. Nevertheless, the Chinese government says that it respects the trade agreements with the United States (Lehmann and Lehmann 122-156). Conclusion China is an important player in international markets. However, there is no doubt that the trade relationship between United States and China has been sour at times. However, the two countries have exemplary economic models and trade ties that many countries can borrow. Although numerous agreements govern the US-China trade relations, the two countries know how to solve stalemates whenever they arise. Most importantly, China and United States should acknowledge that the surest way of expanding and modernizing economies is through e conomic and trade reforms. China should also import more in order to help other countries grow economically (Halley and Wendell 126-146). Works Cited Dayer, Roberta. Bankers and Diplomats in China, 1917-1925: The Anglo-American Relationship. London: F. Cass, 2001. Print. Foot, Rosemary. The Practice of Power: Us Relations with China Since 1949. Oxford: Clarendon Press, 2005. Print. Halley, James, and Willkie Wendell. Beyond MFN: Trade with China and American Interests. Washington, D.C: AEI Press, 2004. Print. Lehmann, Fabrice, and Jean-Pierre Lehmann. Peace and Prosperity Through World Trade. Cambridge, UK: Cambridge University Press, 2010. Print. Louis, William, and Bull Hedley. The â€Å"special Relationship†: Anglo-American Relations Since 1945. Oxford: Clarendon Press, 2006. Print. Table 1 Table 2 Table 3 This research paper on The US-China Trade was written and submitted by user Derrick Price to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here. The US Today it is rather difficult to discuss the US-China relations from one point of view with accentuating only positive aspects of the countries’ relationship which can lead to the effective cooperation or with focusing only on the misunderstandings between the countries which contribute to the development of the competition between the US and China.Advertising We will write a custom essay sample on The US-China relations specifically for you for only $16.05 $11/page Learn More The problem of the character of the relations between the US and China is one of the key questions which are actively discussed on the threshold of the election of 2012. Is China a strategic partner or a strategic competitor of the US? Although the US and China do not base their relations on the principles of the open confrontation and seek for the effective cooperation in dealing with many international and domestic questions, there are a lot of aspects according to which th e countries cannot reach the mutual understanding under the influence of the rapid growth of China and determining its strong position at the global arena. That is why it is possible to speak about the US-China relations as tending to a kind of competition or rather suspicious relations as opposite to the situation of the possible partnership. Moreover, the state of affairs can change tomorrow with references to the changes in the world policy and economy. The relations between the US and China have a long history and can be discussed as difficult with accentuating the peculiarities of the policies provided by the US and Chinese governments during different periods of time. The US as the most powerful country in the world was always inclined to control the situation in the globe economy and policy referring to establishing the international relations with the other countries. Analysts also observe the tendencies of the US to control the situation in relations with China. However, to day to control the peculiarities of China’s strategy is difficult because of the country’s rapid economic progress (Sutter, 2010). Politicians from the both countries do not concentrate on the possible conflict in the relations and accentuate the aspects for the further cooperation. Nevertheless, the pressure in the US-China relations is obvious, and it is explained by the misunderstandings in providing the policy connected with such issues as trade questions, energy problem, human rights, and Taiwan problem (Sutter, 2010).Advertising Looking for essay on international relations? Let's see if we can help you! Get your first paper with 15% OFF Learn More If the competition in the field of the economic powerfulness can be considered as rather questionable because of the quite different positions of the countries, the issues mentioned earlier can be discussed as influential for the development of the US-China relations on the principles contradicting to the mutual cooperation. Analyzing the character of the relations between the US and China, it is important to determine the factors which contribute to the development of the relations between the countries as potential partners or as potential competitors. Thus, both countries are inclined to develop the effective partnership in the field of fighting with terrorism and providing the cooperation on the global environmental issues and the questions of the peace and stability. These problems are not connected directly with the economic issues and allow solving the questions favorably for the both countries. However, such factors as the rapid economic growth of China which results in the increase of the country’s influence on the foreign states, and particularly on the US, is crucial for complicating the relations. â€Å"China’s rise is having a large and complex impact on the United States and Asia, and on various global issues† (Lieberthal Pollack, 2012). Moreover, the expanding military potential of China and misunderstandings on Taiwan problem and the role of the US in the conflict contribute to the development of the countries’ mutual suspicions (Garrett, 2006). The difficulties in the US-China relations can be also explained by the countries’ lack of knowledge on the question of their strategic intentions. Thus, today the US makes accents on the fact that it is necessary to develop the dialogue between the countries in order to determine the priorities in their relations and focus on the establishment of the long-term cooperation in order to avoid the possible conflicts and misunderstandings. The US and China are interested in the development of these relations and state that they are strategically important (Sutter, 2010). Nevertheless, a number of controversial questions according to which the views of the governments in both countries are different can prevent the US and China from implementing the healthy relations based on the principles of cooperation.Advertising We will write a custom essay sample on The US-China relations specifically for you for only $16.05 $11/page Learn More To establish the effective long-term relations, it is significant to achieve the successful solution of the economic and military questions which contribute to forming the disbalance in the countries’ relations. Having analyzed the character of the relations between the US and China, it is possible to note that in spite of the active positions of the countries in relation to the development of the cooperative relations or partnership between them, the situation can be discussed as rather competitive with references to a range of economic factors which influence the peculiarities of the countries’ relations. The countries cannot be considered as open competitors depending on their global positions, but their relations also do not tend to the partnership. However, both countries a re inclined to contribute to their further cooperation. References Garrett, B. (2006). US-China relations in the era of globalization and terror: A framework for analysis. Journal of Contemporary China, 15(48), 389-415. Lieberthal, K. G. Pollack, J. D. (2012). Establishing credibility and trust the next President must manage America’s most important relationship. Retrieved from https://www.brookings.edu/research/establishing-credibility-and-trust-the-next-president-must-manage-americas-most-important-relationship/ Sutter, R. G. (2010). U.S. – Chinese relations: Perilous past, pragmatic present. USA: Rowman Littlefield Publishers. This essay on The US-China relations was written and submitted by user Zeke Beasley to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Argumentation of Mark Twain in The Adventures of Huckleberry Finn

Argumentation of Mark Twain in The Adventures of Huckleberry Finn Free Online Research Papers To this day, The Adventures of Huckleberry Finn is known as one of Mark Twain’s greatest masterpiece. This book is all about one little boy and all of the crazy adventures that he has with his friends. The readers are forced to look inward and see that, even though Huck does not realize what he is doing, he causes society to see what truly matters in life. Mark Twain, through the use of satire and irony, forces the reader to decide for themselves what is right and what is wrong, no matter what society tells them. The Adventures of Huckleberry Finn is set in a time where owning a slave is not only acceptable, but encouraged. Even his own adopted family has a slave named Jim. He sees nothing wrong with owning a slave, until Jim runs away and Huck is forced to decide whether or not to follow the law and turn Jim in to the police or follow his heart and keep Jim safe. Huck decides to take Jim and says that, people would call him â€Å"a lowdown abolitionist and despise [him] for keeping mum† (Twain 74), but he doesn’t care. The author, Mark Twain, satirizes the situation that Huck and Jim are in by shoving the fact that Huck can’t tell anybody about Jim because Huck is supposed to be dead, to the back of the reader’s mind. He is making fun of the fact that harboring a slave is worst than faking a death so that the reader will realize that slavery was a big deal back then. This places the reader into the mind of Huck, and makes them think about what was more important back then. At the end of the novel, Jim is discovered when he tries to save Huck and is put in a makeshift jail until his owner can come to claim him. Tom Sawyer comes up with an elaborate plan to break him out; complete with digging a moat, writing in a journal with his â€Å"own blood† (Twain 415), and digging a tunnel out of there. In the end, the reader finds out that Jim was free just a couple days after he ran away. It is ironic that Jim is free but continues to act like a slave. Their journey to the north, and the whole book, is about freeing Jim so that des not have to worry about being caught and sent back to slavery. When he finally gets there, he finds that he has been free this whole time, so the whole journey was pointless. The point of this irony is to make the reader think about what they would do if they were put into this same situation. Mark Twain’s argument in this chapter of the novel is that it is necessary to look at one man’s struggle for freed om to fully understand that this struggle is futile; that all men should have their freedom from the beginning. Mark Twain had a vision. He wanted to change the way that people viewed slavery, and wanted to make his readers realize that Jim is a person; not just property. At the time this book was written, any body could own a slave, and they did. They used slaves for everything from cleaning the house, to watching and/or raising their children, to harvesting their crop so that they could earn a profit and not have to do any work. Mark Twain wrote that novel The Adventures of Huckleberry Finn to make his readers sit down and actually think about why slavery was wrong. It made an innocent man and a little boy run for their lives. His use of satire and irony inspire this kind of reflection throughout the whole novel. Research Papers on Argumentation of Mark Twain in The Adventures of Huckleberry FinnComparison: Letter from Birmingham and CritoMind TravelThe Hockey GameCapital Punishment19 Century Society: A Deeply Divided EraHarry Potter and the Deathly Hallows EssayHip-Hop is ArtPersonal Experience with Teen PregnancyThe Spring and AutumnEffects of Television Violence on Children

Lesson Observation Essay Example | Topics and Well Written Essays - 500 words

Lesson Observation - Essay Example At the bottom, the key expressions are written i.e. â€Å"Take this medicine,† â€Å"You have to see a doctor,† and â€Å"Get some rest.† Student A initiate a dialogue with Student B. Student A should ask, â€Å"What’s wrong?† then Student B should answer, â€Å"I have a _____†. After Student B answers, Student A chooses a key expression from the worksheet to finish the conversation. When he/she chooses, he/she can mark the move on the worksheet to play Connect 4. The goal is to make students practice the dialogues every time they make their move. In playing this game, I noticed that some of the students merely played this game without having a conversation. The teacher should walk around and monitor/assess student’s performance in order to maximize their learning potentials. Students in this class responded to the lesson differently from one another given that the level of comprehension is affected by the activities each student was actively engaged in. For example, during the passage-reading session, the students followed the exact words uttered by the teacher regardless of the fact that the teacher had mispronounced the world ‘throat’ as ‘srot’ following its follow-up with word ‘sore’. As identified that students were engaged in small talk during the dialogue session during the speaking activity. It shows that, if the students were attentive in the first place, they would be able to identify mispronounced words and ask the teacher for clarification. However, considering that the purpose of the class is to refine communication and language skills, the students showed they were learning to follow instructions regarding the worksheets they were provided with before the start of the speaking activity. With reference to the listening and speaking, it is identified in the reading that lack of attentiveness may not raise any alarm that a word was incorrectly used or mispronounced. According to the reading, an example shows that melody tends to be

Ch12 Essay Example | Topics and Well Written Essays - 250 words

Ch12 - Essay Example Another thing is that the personnel has the capacity to minimize the utilization of the other resources, this makes it efficient and convenient to manage a project to completion. The management of resources in a multiproject is relatively difficult for a number of reasons. Firstly, there is the challenge of linking multiple concurrent projects while ensuring that there is maximum utilization of resources in each project, this divided attention results to lower resource maximization. Secondly, the manager deals with many teams, which may present diverse challenges; therefore, there may be over-focus on one team at the expense of the rest. Finally, the switchover from project to project presents logistical challenges in establishing the precise cost of a project; though the overall engagement may be to reduce cost, it may end up increasing it. There are rules of thumb that can be applied by managers in ensuring that multiple projects are managed effectively. First, prioritization of the important and risky tasks, to such resource allocation should be given the first priority. Second, establishment of a minimal project scope. Thirdly, clear the tasks that have unclear and risky resource

Causes And Effects Of The Current Economic Crisis Economics Essay

Causes And Effects Of The Current Economic Crisis Economics Essay Overall economy is bullish; it is not only the stock exchanges that tell  riches to rags  stories but even  small businesses. It all adds to the national exchequer. An economist is likely to give a detailed, comprehensive definition of  recession. But for the layman who has been affected knows it only one way-when he loses his job and has no money to pay his  credit and loans.  Recession  is when the consumer faces foreclosure and the banker comes knocking for his pound (or dollar) of flesh. Many companies and whole countries go bankrupt for want of liquid funds and cash flow for even daily requirements.   If you look at it from the point of view of a businessman,  recession  is a transitory phase. The Business Cycle Dating Committee of the  National Bureau of Economic Research  has another definition. It profiles the businesses that have peaked with their activity in one season and it falls naturally in the next season. It regains its original position with new products or sales and continues to expand. This revival makes the  recession  a mild phase that large companies tolerate. As the fiscal position rises, there is no reason to worry.  Recession  can last up to a year. When it happens year after year then it is serious.   Are we facing a  recession  or not? Yes, for the simple reason that not only our neighbors but our friends are unemployed. There is less of business talk and more billing worries. Transitory recessions are good for the economy, as it tends to stabilize the prices. It allows run away bullish companies to slow down and take stock. There is a saying, when its tough the tough get going. The weaker companies will not survive the brief  recession  also. Stronger companies will pull through its resources. So when is it time to worry? When you are facing a foreclosure, when the chips are down and out and creditors file cases for recovery.   Firms face closures when they go through  recession  and are not able to recover from losses. If, at this time, they are not able to sustain their prices and stocks then there is more trouble. Even when the  recession  period gets over, they will not be able to do well. If a business survives a  recession  period they should be able to survive a depression. But how many  recession  proof businesses are there? Who will eventually survive the  recession?   1. Those that have been able to save their funds.   2. Those who have not invested in fly-by-night companies.   3. Those who remain clam till the storm passes.   4. Those that take stock immediately and decide to reinvest in a  recession  proof business. GLOBAL FINANCIAL CRISIS The world is seemingly inching towards recession .Companies are going bankrupt, stock market are nose diving and more employees are being laid off while companies struggle to cut cost. Looking theng back, it seems not so long ago when economies across the globe, especially india , were going through a boom . What went wrong ,then? Here,s a quick round up of the major events that bought the current economic downturn. 2001-2005: Housing prices shoot up in the US. Bank start lending aggressively, leading to the creation of sub primary Industry. Subprime lending refers to lending at slightly higher interest rates to borrowers,who under normal circumstances would not have been eligible for the loan .Such borrowers are consider to have a less -than-ideal credit as they may have defaulted in the past or are employed or without any regular income. Banks usually, refrained from lending to such people owing to the higher default risk. However, with the rise in property prices, banks started lending to such borrowers as these loans were mortgaged against property .In case of default, the banks could recover the money by selling off the mortgaged property. 2005: The prospering housing market comes to a standstill in many parts of the US. 2006: As the prices even out, homes sales drop. February 2007: Sub -prime bubble in the US burst-more than 25 sub prime lenders either go bankrupt, incur heavy losses or are up for the sale Banks files to take into account the possibly of a fall in property prices while undertaking sub prime lending . With the hike in interest rates by the Federal bank , the sub-prime borrowers began defaulting . This prompting banks to sell off the mortgaged properties. As more banks joined this trend of selling mortgaged properties , prices of property dropped down in the U.S. August 2007 : A no of leading mortgage lenders in the us go bankrupt : March 2008 : bear Sterns crumbles September 2008 : Lehman Brothers file for bankruptcy while Merrill Lynch is sold off to Bank of America Financial markets in the us developed a new product between 2001 nd 2006 . This product was in form of a bond securitized against mortgages . Financial institutions like bear sterns, Lehman brothers and Merrill lynch lent money to mortgage banks against the mortgages, on condition that these mortgage banks would repay the money as soon as they recovered their mortgages . These lenders ,in turn sold the retail bonds to individual investors . However, as mortgages could not be honoured , banks were unable to pay the back this money to financial institutions, who in turn could not pay repay individual investors. In the entire process, Institutions like Bear Sterns, Lehman Brothers Merrill lynch and AIG got a serve blow. LEHMAN BROTHERS Lehman Brothers was founded in 1850 by two cotton brokers in Montgomery, Ala. The firm moved to New York City after the Civil War and grew into one of Wall Streets investment giants. On Sept. 14, 2008, the investment bank announced that it would file for liquidation after huge losses in the mortgage market and a loss of investor confidence crippled it and it was unable to find a buyer. Lehmans slow collapse began as the mortgage market crisis unfolded in the summer of 2007, when its stock began a steady fall from a peak of $82 a share. The fears were based on the fact that the firm was a major player in the market for subprime and prime mortgages, and that as the smallest of the major Wall Street firms, it faced a larger risk that large losses could be fatal. As the crisis deepened in 2007 and early 2008, the storied investment bank defied expectations more than once, just it had many times before, as in 1998, when it seemed to teeter after a worldwide currency crisis, only to rebound strongly. Lehman managed to avoid the fate of Bear Stearns, the other of Wall Streets small fry, which was bought by JP Morgan Chase at a bargain basement price under the threat of bankruptcy in March 2008. But by summer of 2008 the rollercoaster ride started to have more downs than ups. A series of write-offs was accompanied by new offerings to seek capital to bolster its finances. Lehman also fought a running battle with short sellers. The company accused them of spreading rumors to drive down the stocks price; Lehmans critics responded by questioning whether the firm had come clean about the true size of its losses. As time passed and losses mounted, an increasing number of investors sided with the critics. On June 9, 2008, Lehman announced a second-quarter loss of $2.8 billion, far higher than analysts had expected. The company said it would seek to raise $6 billion in fresh capital from investors. But those efforts faltered, and the situation grew more dire after the government on Sept. 8 announced a takeover of Fannie Mae and Freddie Mac. Lehmans stock plunged as the markets wondered whether the move to save those mortgage giants made it less likely that Lehman might be bailed out. On Sept. 10, the investment bank said that it would spin off a majority of its remaining commercial real estate holdings into a new public company. And it confirmed plans to sell a majority of its investment management division in a move expected to generate $3 billion. It also announced an expected loss of $3.9 billion, or $5.92 a share, in the third quarter after $5.6 billion in write-downs. By the weekend of Sept. 13-14, it was clear that it was do or die for Lehman. The Treasury had made clear that no bailout would be forthcoming. Federal officials encouraged other institutions to buy Lehman, but by the end of the weekend the two main suitors, Barclays and Bank of America, had both said no. Lehman filed for bankruptcy Sept. 15. One day later, Barclays said it would buy Lehmans United States capital markets division for $1.75 billion, a bargain price. Nomura Holdings of Japan agreed to buy many of Lehmans assets in Europe, the Middle East and Asia. Lehman also said it would sell much of its money management business, including its prized Neuberger Berman asset management unit, to Bain Capital and Hellman Friedman for $2.15 billion. Lehmans demise set off tremors throughout the financial system. The uncertainty surrounding its transactions with banks and hedge funds exacerbated a crisis of confidence. That contributed to credit markets freezing, forcing governments around the globe to take steps to try to calm panicked markets. On Oct. 5, Richard S. Fuld Jr., Lehmans chief executive, testified before a Congressional panel that while he took full responsibility for the debacle, he believed all his decisions were both prudent and and appropriate given the information at the time. EFFECT ON THE INDIAN ECONOMY Impact of global recession on India America is the most effected country due to global recession, which comes as a bad news for India. India have most outsourcing deals from the US. Even our exports to US have increased over the years. Exports for January declined by 22 per cent. RECESSIONS ARE the result of reduction in the demand of products in the global market. Recession can also be associated with falling prices known as deflation due to lack of demand of products. Again, it could be the result of inflation or a combination of increasing prices and stagnant economic growth in the west. Recession in the West, specially the United States, is a very bad news for our country. Our companies in India have most outsourcing deals from the US. Even our exports to US have increased over the years. Exports for January have declined by 22 per cent. There is a decline in the employment market due to the recession in the West. There has been a significant drop in the new hiring which is a cause of great concern for us. Some companies have laid off their employees and there have been cut in promotions, compensation and perks of the employees. Companies in the private sector and government sector are hesitant to take up new projects. And they are working on existing projects only. Projections indicate that up to one crore persons could lose their jobs in the correct fiscal ending March. The one crore figure has been compiled by Federation of Indian Export Organisations (FIEO), which says that it has carried out an intensive survey. The textile, garment and handicraft industry are worse effected. Together, they are going to lose four million jobs by April 2009, according to the FIEO survey. There has also been a decline in the tourist inflow lately. The real estate has also a problem of tight liquidity situations, where the developers are finding it hard to raise finances. IT industries, financial sectors, real estate owners, car industry, investment banking and other industries as well are confronting heavy loss due to the fall down of global economy. Federation of Indian chambers of Commerce and Industry (FICCI) found that faced with the global recession, inventories industries like garment, gems, textiles, chemicals and jewellery had cut production by 10 per cent to 50 per cent IMPACT ON DIFFERENT SECTORS 1. Impact on stock market The immediate impact of the US financial crisis has been felt when Indias stock market started falling. On 10 October, Rs. 250,000 crores was wiped out on a single day bourses of the Indias share market. The Sensex lost 1000 points on that day before regaining 200 points, an intraday loss of 200 points. This huge withdrawal from the Indias stock market was mainly by Foreign Institutional Investors (FIIs), and participatory-notes. 2. Impact on Indias trade The trade deficit is reaching at alarming proportions. Because of workers remittances, NRI deposits, FII investment and so on, the current deficit is at around $10 billion. But if the remittances dry up and FII takes flight, then we may head for another 1991 crisis like situation, if our foreign exchange reserves depletes and trade deficit keeps increasing at the present rate. Further, the foreign exchange reserves of the country has depleted by around $57 billion to $253 billion for the week ended October 31.(Sivaraman, 2008) 3.Impact on Indias export With the US and several European countries slipping under the full blown recession, Indian exports have run into difficult times, since October. Manufacturing sectors like leather, textile, gems and jewellery have been hit hard because of the slump in the demand in the US and Europe. Further India enjoys trade surplus with USA and about 15 per cent of its total export in 2006-07 was directed toward USA. Indian exports fell by 9.9 per cent in November 2008, when the impact of declining consumer demand in the US and other major global market, with negative growth for the second month, running and widening monthly trade deficit over $10 billions. Official statistics released on the first day of the New Year, showed that exports had dropped to $1.5 billion in November this fiscal year, (Sivaraman, 2008) from $12.7 billion a year ago, while imports grew by $6.1billion to $21.5 billion. 4.Impact on Indias handloom sector, jewelry export and tourism Again reduction in demand in the OECD countries affected the Indian gems and jewellery industry, handloom and tourism sectors. Around 50,000 artisans employed in jewellery industry have lost their jobs as a result of the global economic meltdown. Further, the crisis had affected the Rs. 3000 crores handloom industry and volume of handloom exports dropped by 4.6 per cent in 2007-08, creating widespread unemployment in this sector (Chandran, 2008). With the global economy still experiencing the meltdown, Indian tourism sector is badly affected as the number of tourist flowing from Europe and USA has decreased sharply. 5.Exchange rate depreciation With the outflow of FIIs, Indias rupee depreciated approximately by 20 per cent against US dollar and stood at Rs. 49 per dollar at some point, creating panic among the importers. 6.IT-BPO sector The overall Indian IT-BPO revenue aggregate is expected to grow by over 33 per cent and reach $64 billion by the end of current fiscal year (FY200). Over the same period, direct employment to reach nearly 2 million, an increase of about 375000 professionals over the previous year. IT sectors derives about 75 per cent of their revenues from US and IT-ITES (Information Technology Enabled Services) contributes about 5.5 per cent towards Indias total export. So the meltdown in the US will definitely impact IT sector. Further, if Fortune 500 hundred companies slash their IT budgets, Indian firms could adversely be affected. 7.FII and FDI The contagious financial meltdown eroded a large chunk of money from the Indian stock market, which will definitely impact the Indian corporate sector. However, the money eroded will hardly influence the performance real sector in India. Due to global recession, FIIs made withdrawal of $5.5 billion, whereas the inflow of foreign direct investment (FDI) doubled from $7.5biilion in 2007-08 to $19.3 billion in 2008 (April-September). Conclusion From the above argument it can be noted down that the Financial or Subprime Crisis was the shear consequences of greed and to make too much profit on the part of Wall Street Firms and Investment Banks. This crisis also shows the failure of capitalist market economy. Though the Indian economy would be able to withstand the crisis without any major difficulty, but the crisis is still causing mayhem all over the world.

Competitive Grants, Action Research Proposal, and Business Plans Essay

Competitive grants, action research proposals, and business plans all seem to be predisposed with results and outcomes. All three seem to be geared towards the realization of a goal or an objective that supports desirable changes and results in society. Competitive grants are designed to be able to provide help and support to various populations who are in dire need of them (USDH, 2000). Action Research Proposals are written because of the need for changes in people’s behavior and responses toward certain issues or themes that need to be improved in order to result to desirable change through action research (Ferrance, 2000). Business plans are also designed in such a way that it provides for the needs of the consumers or the people and influence desirable changes in the economy and the satisfaction of the nation. It includes all the most important decision that one can make in order to make the business progress and be successful in its venture. (My Own Business, 2007)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In addition, competitive grants, action research proposals, and business plans are instrumental in identifying and determining the varied needs of members in the society. These three also differ in their purpose, content, and outline. To have a deeper understanding about the similarities and differences among these three, the discussion about their nature and characteristics is relevant and will be stated in the following paragraphs.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Funding programs for a specific group of population takes on the form of competitive grants. Competitive grants aim to address the growing needs of and problems in society. However, grants are only available to those who are eligible to apply and be granted access to the benefits and advantages that goes along with the grant. The funding and support that come from competitive grants are only limited to those who fit the characteristics of its target population. Moreover, these grants are only available for a limited period of time as proclaimed by the public or private organization implementing the program. Examples of competitive grants include training programs for young people who cannot afford to go to school, funding for nutrition and a healthy lifestyle advocacy, etc. (USDH, 2000)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   An action research proposal plays a significant role in conducting a research, especially one that is academic in nature. The purpose of an action research proposal is to establish a background about the theme that is to be addressed after the research. In addition, an action research aims to influence change in certain processes and progressions that would in turn affect desirable changes in society. The action research proposal is instrumental in the accomplishment of this mission as it provides an overview of the problem and the solutions that would cause pleasant changes. The action research proposal is the basis of the action research. All the information and other action researches that have been conducted in the past are included in the proposal. In addition, it also contains predictions or calculated guesses of what the action research would lead to. It also includes the various processes that will be employed in order to collect all data, interpret them, and establish a solution to the main problem in the proposal. (Ferrance, 2000)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   A business plan is a tool used by professionals in the business arena to predict the status of a specific business venture. It is also a way of preventing losses or cutbacks in the future. The business plan also continuously functions as a monitoring guide in evaluating or assessing the path of the business, whether it follows the plan or it is progressing or digressing in a different direction. Therefore, it is important to include substantial information and integrate it in the plan in order to see that changes that are occurring in a business enterprise. (Berry, 2008) The business plan is also broad than the action plan proposal and the competitive grant because it covers a wider range of information, from consumers, to human resources, capital funds, marketing strategies, etc. (My Own Business, 2007) References Berry, T. (2008). What is a Business Plan? Retrieved March 22, 2008, from Palo Alto Software, Inc. Website: http://articles.bplans.com/index.php/business-articles/writing-a-business-plan/What-is-a-Business-Plan?/ Ferrance, A. (2000). Action Research. Retrieved March 22, 2008, from The Education Alliance.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Website: http://www.alliance.brown.edu/pubs/themes_ed/act_research.pdf My Own Business. (2007). Business Plan. Retrieved March 22, 2008, from My Own Business,   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Inc. Website: http://www.myownbusiness.org/s2/#1 USDH. (2000). What is a Competitive Grant Program. Retrieved March 22, 2008, from U.S.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Department of Housing. Website: http://www.hud.gov/nofa/suprnofa/sprprt1b.cfm

How Technology Has Changed Our Lives.

{draw:rect} MODERN AGE (1950-1985) After the Second World War Americans began to prosper, millions of people were changing. The troops that were returning from war some 12 million served during the war years were going back in the workforce. Most of these men were mere children when they signed on, some from rural America that never returned to work the earth. Farming technology was being made to counter act this problem. So much so that at the turn of the twentieth century 50 percent of the workforce was on farms that provided the nation’s food. By the end of the 1950’s only 7 percent of the workforce was working the nation’s farms. Hourly wages for selected industries, United States, 1950 1901 †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. $ 0. 23 1918 †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. .53 1935 †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. .58 1950 †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 1. 59 SOURCE: U. S. Bureau of Labor Statistics, Consumer Expenditure Survey Manufacturing. (Bureau of Labor Statistics) Yale Brozen writes â€Å"Fear of automation can be traced to four sources. † One is based on the assumption that there is a fixed amount of goods. The second source of fear springs from the idea that automation or cybernation is something more than the latest stage in the long evolution of technology. The third source of fear lies in the fact that we are much more aware of the people displaced by automation and concerned about them than we are of the other unemployed. Even while we reduce the amount of manpower needed to do a fixed amount of work does that fixed amount of work remain the same? As we all know this is not the case. As we free up manpower from one aspect we find new and productive uses for that manpower. His words speak the truth then as they do today. It saves lives through the aid it gives doctors. By controlling traffic signals in response to traffic flows and reducing traffic congestion, it adds hours to the free time of commuters every week. It helps scientists, with the aid of high speed data processing; to develop new knowledge that otherwise would not be available in our lifetimes. We are increasing the sc ale of educational activities because mechanization, automation, cybernation, or whatever we choose to call our new technology, makes it possible to do more than we could formerly. With the coming of automation, men are able to do more and have more. Both sublime and mundane activities are being enlarged and the number of jobs has grown as a consequence, not declined. † (Brozen) The second source of fear that the latest idea of automation or technology will become something more then what it was intended to be. People were so obsessed with what the future would hold books and movies were made to cast this fear. Science fiction was used to depict future events that could occur. Films such as one that was released in 1968 2001: A Space Odyssey where an artificially intelligent supercomputer, HAL takes over a space mission. Today some super computers are in use, are they anyway near being HAL? Some say we are getting close to true artificial intelligence, but we are far from HAL. The forth source of fear of automation is that it reduces the demand for unskilled workers. This may be true in some instances but at the same time the demand for skilled workers will increase. As stated previously companies do their best to keep their employees. When possible they are retraining these employees to fill new jobs that become available because of the new technology. If this were true then the unemployment rate would raise proportionately. If automation is added to a process and did the work of five people then five people would be unemployed. We know that this does not make sense. It has increased productivity to the process not that it reduced people from the process. NEW WAVE (1985-Present) The year 1985 saw more technological changes, Windows 1. 0 is introduced here you can do more than just one DOS application at a time. Made by this little upstart IBM partner company called Microsoft, it even comes with a calculator program. Some other wonders of 1985 is the first compact disk read only memory (CD-ROM) of none other than a Grolier Encyclopedia. Apple was the big name in computers at the time and most businesses had one. To be up to date in the office the new Apple LaserWriter printer was the best and it only cost around $7000. The main reason we call 1985 the New Wave era is this, the first . Com domain name, symbolics. com, is registered by the Symbolics Corporation. (The People History) According to David Huether, chief economist of the National Association of Manufacturers, U. S. manufacturers are producing and exporting more goods than ever before. While manufacturing output easily outpaces the larger U. S. economy, manufacturing employment, at 14. million, is at its lowest level in more than 50 years. (Williams) Another place that has felt the effects of technology is in the office, or white collar jobs. Michael J. Handel writes in a brief for SRI International: â€Å"Analyses of national data indicate that increased use of computers in the 1980s and 1990s was associated with greater use of more-educated workers withi n industries. However, the direction of causality is unclear. It may be that both educational upgrading and greater computer use simply reflect an independent increase in the number of white collar workers within industries, who are the most frequent computer users. It may be that the hiring of more-educated workers, usually office workers, stimulates demand for computers rather than vice versa. In addition, the industries upgrading their educational levels coincident with adoption of computers in the 1980s and 1990s also appear to have been upgrading educational levels before the widespread diffusion of computers. † (Handel) There are many ways to make a job better, faster, and safer. Every dayI see improvements to the work floor. There are many facets of the business that help with these improvements. Some of which are our Product Development Teams (PDT) that will follow the work to see if anything can be changed. They work closely with our Research and Development (RD) operations. These two areas have grown by 1000% in the last twenty years. Another area that has greatly grown is our engineering staff and related personal. In 1996 the skilled trades had two engineers to take all our requests to. We now have engineers for facilities, electricians, repairmen, mobile equipment, power house, and toolmakers. In all we have become more effective and more efficient in how we do our business of repairing the machinery in the factory. Everyone can be affected by technology no job is completely that same as it was in years past. Studies have been made to classify a job for automation. They are based on three dimensions, Receptiveness Stability Structuredness Some jobs are changing constantly, I have seen toll booth operations change here in Illinois just over the last two years. The new faster E-Z pass lanes going into Chicago for one. I asked one of the booth operators how they liked them, one told me that it was all good. Their day is less stressful and they have hired more people in the toll way system. More people to monitor and maintain the equipment and make sure those that did not pay get those little notices in the mail. WORKS CITED Baughman, James L. â€Å"Television Comes to America, 1947-57. † Editorial. Illinois Periodicals Online (IPO) Project. N. p. , Mar. 1993. Web. 29 Nov. 2009. http://www. lib. niu. edu/1993/ ihy930341. html. Bland Jr. , Gordon R. â€Å"The Effects of Job Automation on the Economy. † Scribd. N. p. , 4 Mar. 2009. Web. 29 Nov. 2009. http://www. scribd. com/doc/12965589/The-Effects-of-Job-Automation-on-the-Economy. Bureau of Labor Statistics. â€Å"100 Years of U. S. Consumer Spending: Data for the Nation, New York City, and Boston. † United States Department of Labor. N. p. , 3 Aug. 2006. Web. 29 Nov. 2009. http://www. bls. gov/opub/uscs/1950. pdf. Brozen, Yale. â€Å"Automation: The Retreating Catastrophe. † Ludwig von Mises Institute. N. p. , n. d. http://mises. org/journals/lar/pdfs/2_3/2_3_5. pdf. Rpt. in Automation: The Retreating Catastrophe. N. p. : n. p. , n. d. N. pag. Ludwig von Mises Institute. Web. 29 Nov. 2009. http://mises. org/. Handel, Michael J. SRI Project Number P10168. SRI International, July 2003. Web. 29 Nov. 2009. http://www. sri. om/policy/csted/reports/sandt/it/Handel_IT_Employment_InfoBrief. pdf>. Huether, David. â€Å"The Case of The Missing Jobs. † BusinessWeek. N. p. , 3 Apr. 2006. http://www. businessweek. com/magazine/content/06_14/b3978116. htm. Rpt. Web. 29 Nov. 2009. http://www. businessweek. com/magazine/content/06_14/b3978116. htm. The People History . † 1985. N. p. , 2009. Web. 29 No v. 2009. http://www. thepeoplehistory. com/ 1985. html. U. S. Congress, Office of Technology Assessment, Reducing Launch Operations Costs: New Technologies and Practices, OTA-TM-ISC-28 (Washington, DC: U. S. Government Printing Office, September 1988).