Association of South East Asian Nations (ASEAN)

Association of South East Asian Nations (ASEAN) Introduction The Association of South East Asian Nations (ASEAN) was founded in 1967 by Singapore, Indonesia, Malaysia, Philippines and Thailand with the signing of the ASEAN Declaration in Bangkok. ASEANs objectives were to accelerate the economic growth, social progress and cultural development in the region. To promote regional peace and stability, active collaboration and mutual assistance on matters of common interest in the economic, social, cultural, technical, scientific and administrative fields. ASEAN was subsequently expanded over the years to include Brunei, Vietnam, Laos, Myanmar and Cambodia making up the ten member states of ASEAN today. Despite the expansion, the objectives and working principles of ASEAN have remained unchanged throughout the years. The ASEAN way of informal networking had been effective in creating a cohesive, peaceful and economically successful ASEAN bloc. This essay will address the question of ASEANs relevance to stability, security and prosperity of Southeast Asia in three parts. First, the essay will attempt to examine the power-balancing role of US in Southeast Asia. Secondly, the essay will analyze the conditions under which ASEAN was created to illustrate how ASEANs objectives are aligned with stability, security and prosperity of Southeast Asia. Lastly, this essay will explore in more depth how ASEAN remains essential to the stability, security and prosperity of Southeast Asia. The essay shall then conclude why the interpretation of MM Lees words is not accurate in current context and why ASEAN is not merely a supplement to the power-balancing role played by the US. Power-Balancing Role of US in Southeast Asia The strategic presence of US in Southeast Asia has not prevented USs allies and partners in the region from low-intensity conflicts and non-traditional threats. For example, there is still a high incident rate of piracy activities in the Malacca straits, Singapore straits and South China Sea. The strategic presence of the US has also not provided any security to the states in Southeast Asia from the attack by terrorist groups. Thailand, Philippines and Indonesia had all fallen victim to terrorist bombing, not once, but on several occasions. The attacks might even be triggered by the close ties between US and the states in Southeast Asia. The terrorist would have view the states as being pro-US thus became a target for the terrorist groups. The third Indochina War was officially brought to a close with the October 1991 agreements at the Paris Conference (PICC). With the collapse of the Soviet Union, the regional role of the US is no longer being shaped by the American Cold War imperatives in Southeast Asia. Impetuses for the Founding of ASEAN Most Southeast Asian states, less Thailand, attained political independence after centuries of foreign domination and colonization after the end of World War II. As such, nation building was the primary focus of ASEAN during its early years of formation. Furthermore, forming a regional organisation could fill the power vacuum left by the major powers, which used the region for proxy wars and major power rivalry. ASEAN provided a platform for the newly independent states to concentrate in their nation building and economic development. ASEAN was thus formed to create a peaceful and stable environment for nation building and growth among the Southeast Asian states. Despite the wish for peace and stability, the world in the 1960s era was embroiled in the war against communism. Communist threat to existing governments at that time was severe. The region was overwhelmed with communist insurgencies and there were imminent danger of communism spreading across Southeast Asia. Economic growth, a means to prevent the spread of communism was thus another important objective for the formation of ASEAN. Although Southeast Asia faced a common enemy, suspicions and distrust caused by Konfrontasi, the Malaysia-Indonesia Confrontation was prevalent among the member states. With the change in political leadership in Indonesia in 1966 with Suhartos replacement of Sukarno as Indonesias President, this spells the end of Sukarno regime and the end of Konfrontasi. It was also the beginning of Suhartos New Order regime and Good Neighbour policy. In order to achieve peace and stability in the region, it was important to first restore confidence and reassure Southeast Asia of Indonesias peaceful intentions. As a result, ASEAN was formed under the principle of non-interference in each others domestic affairs to create a tolerant environment for members to engage without suspicion and doubts. Given the above conditions, ASEAN was formed with the objectives to promote regional peace and stability, co-operation, economic development, and generating social and cultural progress. Defence arrangement such as SEATO was deliberately avoided to prevent being seen as overly pro-Western and provoking to Vietnam. ASEANs Achievements It has been four decades since ASEAN was founded. The achievements of ASEAN cannot be downplayed, for the fact that ASEAN is the one and only permanent regional association in Asia. Stability of Southeast Asia ASEAN had provided the framework for regional stability. The ASEAN Way of doing things had proven its strength based on how far ASEAN have came since its founding. The specific features of ASEAN Way are: informal process of interaction, informality, quiet diplomacy, dialogue and consultation, self-restraint, flexible consensus, lowest common denominator emphasis, conflict avoidance. They also respect each others National sovereignty, territorial integrity, non-use of force etc. standard Intl Relations principles. Their mode of operations is process-orientated and network-based model of co-operation that avoids bureaucratic arrangements. The Treaty of Amity and Co-operation in Southeast Asia (TAC) was signed by the member states of ASEAN in Feb 1976. The purpose of this Treaty is to promote perpetual peace, everlasting amity and co-operation among their peoples which would contribute to their strength, solidarity and closer relationship. This treaty has seen a growing number of countries outside Southeast Asia accepting it. In 2004, four more countries acceded to the treaty, namely, Japan, Pakistan, Republic of Korea and Russia. The ASEAN Social and Cultural Community (ASCC) was form to achieve a socially cohesive and caring ASEAN. It is intended to foster co-operation in addressing a grab bag of social and cultural problems associated with rural poverty, population growth, unemployment, human resources development, education, environment, and health. An example of the level of co-operation the member states have can be seen in the incident of SARs outbreak in Asia. ASEAN has been proactive in seeking to contain infectious diseases, which know no border. During the outbreak, a special ASEAN Leaders Meeting in Bangkok was called in Apr 2003; the ASEAN heads of government mandated a comprehensive regional response to the threat posed by the disease, the spread of which was wreaking havoc on their economies. Although the actual job of fighting the spread of the disease fell to the public health officials of the states, the coordination of measures was carried out at the health minister level of the ASEAN +3. Another example is the Singapore-Malaysia dispute over Pedra Branca islands. Both countries laid claim to the Pedra Branca islands although Singapore had been the custodian of the Horsburg Lighthouse situated on the island throughout the last century. The dispute could not be resolved within ASEAN; however, both Singapore and Malaysia had agreed to bring it to the International Court of Justice (ICJ) in 2007. This dispute came to an end with the ICJ ruling sovereignty of Pedra Branca to Singapore and that of Middle Rocks to Malaysia. ASEAN also manage to resolve the Cambodian crisis during the 1980s thru the ASEAN-Post Ministerial Conference (ASEAN-PMC) which assumed its current form when the US, Canada and Japan joined in 1978. Security of Southeast Asia TheZone of Peace, Freedom and Neutrality (ZOPFAN)declaration was signed in 1971 by the Foreign Ministers of theASEANmember states (Indonesia,Malaysia, thePhilippines,SingaporeandThailand). In the declaration, the parties publicly stated their intent to keepSouth East Asiafree from any form or manner of interference by outside Powers and broaden the areas of co-operation. The ASEAN Regional Forum was formed in 1994 with the objective of promoting peace and security through dialogue and co-operation in the Asia Pacific. It is important that ARF continue to play its role in the political and security dialogue as well as confidence building. TheSoutheast AsianNuclear-Weapon-Free ZoneTreaty(SEANWFZ) of 1995, orBangkok Treaty, is anuclear weapons moratorium treaty between 10 Asian member-states under the auspices of theASEAN. It entered into force on March 28, 1997 and obliges its members not to develop, manufacture or otherwise acquire, possess or have control over nuclear weapon. This is crucial to both confidence building in Southeast Asia and to worldwide nuclear disarmament. Vietnam has joined ASEAN in 1995 and the ARF, and the long overdue normalization of relations between the US and Vietnam has finally happened, under the influence of ASEAN. The Vientiane Action Programme (VAP) adopted at the 10th ASEAN Summit contained several measures to guide ASEANs effort in countering terrorism from 2005 2010. These measures form the preparatory steps to the establishment of an ASEAN Extradition Treaty as envisaged by the ASEAN Security Community (ASC) Plan of Action. Prosperity of Southeast Asia One of the main objectives of ASEAN is to improve economic development. ASEAN has since negotiated for Free-Trade Agreements (FTA) with various dialogue partners of ASEAN. The FTAs were established with Australia New Zealand, China, India, Japan and Republic of Korea. Since 2000, European Commission and ASEAN are already discussing trade and investment issues at Ministerial (EC-ASEAN Economic Ministers) and official (Senior Economic Official Meeting) levels. The key challenge is to promote region-to-region economic relations, particularly by addressing non-tariff barriers through regulatory co-operation using the framework of TREATI (the Trans-Regional EU-ASEAN Trade Initiative), and ultimately to lay the foundations for a preferential regional trade agreement in the future. The Trans-Regional EU-ASEAN Trade Initiative (TREATI) is a framework for dialogue and regulatory co-operation developed to enhance EU trade relations with ASEAN. Study for an EU- ASEAN FTA was then initialed in 2005 and making good progress. In 2006, EU-ASEAN trade represented 5% of total world trade. The EU is ASEANs 2nd largest trading partner, accounting for 11.7% of ASEAN trade (2006). Significantly, 13% of ASEAN exports are destined for the EU, which makes it ASEANs 2nd largest export market after the US. ASEAN as an entity represents the EUs 5th largest major trading partner, accounting to 127 billion EUR, just ahead of Norway and equivalent to Japan. ASEANs trade with the EU has been growing steadily over the past five years, with an average annual growth rate of 4%. On average, EU companies have invested 5.1 billion EUR a year for the period 2003 to 2005. EU is thus by far the largest investor in ASEAN countries: 27% of total FDI inflows from 2001 to 2005 come from the EU, compared to 15% for the US. Conclusion ASEAN was formed during the era of inter-state distrust and the uprising of communism. ASEAN was thus established with the objectives of promoting regional peace, stability and economic progress to facilitate nation building among member states. The working principles, the ASEAN Way of non-interference, informal understanding and consensus building based on lowest common denominator have been effectual in attaining the objectives of ASEAN. The introduction of new member states including Myanmar, Laos and Cambodia, had fulfill the dream of including all the countries in Southeast Asia into ASEAN. It can be seen that the strategic presence of US in the region can no longer guarantee the security of the states in Southeast Asia, especially in the current era of non-conventional threats piracy and terrorism. As such, the interpretation of Mr Lees words is not accurate in todays context. Over the last four decades, ASEAN have certainly achieved plentiful in all areas of stability, security and prosperity of Southeast Asia. The ASEAN Way has been successful in promoting regional co-operation and economic development. The nations of Southeast Asia were able to leave their historic rivalries behind them in the name of ASEAN unity. They have also taken the lead to create the ASEAN Regional Forum to engage all their Asia-Pacific neighbours for the first time, to discuss in a structured dialogue on wide-ranging Asian security issues. The Prime Minister of the Lao Peoples Democratic Republic, Mr Bounnhang Vorachith, 29 Nov 2004, said, The role of ASEAN has been increasingly recognised in ensuring peace and security in the Asia-Pacific region, through the ARF, with ASEAN as the primary driving force. In conclusion, ASEAN have proven its commitment and achievements through all the ministerial meetings, Communities and forums that it is still relevance to the stability, security and prosperity of Southeast Asia. The fact that EU and the Asia-Pacific states are willing to co-operate with ASEAN; is a testimonial and recognition of ASEANs achievements. It is not merely an adjunct or supplement to the power-balancing role played by the United States. The role of ASEAN is indeed central to the regions well being.

Chinese Economic Reform :: essays papers

Chinese Economic Reform Two years after the death of Mao Zedong in 1976, it became apparent to many of China's leaders that economic reform was necessary. During his tenure as China's premier, Mao had encouraged social movements such as the Great Leap Forward and the Cultural Revolution, which had had as their base ideologies such as serving the people and maintaining the class struggle. By 1978 "Chinese leaders were searching for a solution to serious economic problems produced by Hua Guofeng, the man who had succeeded Mao Zedong as Chinese Communist Party (CCP) leader after Mao's death" (Shirk 35). Hua had demonstrated a desire to continue the ideologically based movements of Mao. Unfortunately, these movements had left China in a state where "agriculture was stagnant, industrial production was low, and the people's living standards had not increased in twenty years" (Nathan, Andrew J. China's Crisis pg. 200). This last area was particularly troubling. While "the gross output value of industry and agr iculture increased by 810 percent and national income grew by 420 percent between 1952 and 1980; average individual income increased by only 100 percent" (Ma Hong quoted in Shirk, Susan L. "The Political Logic of Economic Reform in China." Berkeley pg. 28). However, attempts at economic reform in China were introduced not only due to some kind of generosity on the part of the Chinese Communist Party to increase the populace's living standards. It had become clear to members of the CCP that economic reform would fulfill a political purpose as well since the party felt, properly it would seem that it had suffered a loss of support. As Susan L. Shirk describes the situation in The Political Logic of Economic Reform in China, restoring the CCP's prestige required improving economic performance and raising living standards. The traumatic experience of the Cultural Revolution had eroded popular trust in the moral and political virtue of the CCP. The party's leaders decided to shift the base of party legitimacy from virtue to competence, and to do that they had to demonstrate that they could deliver the goods. This movement "from virtue to competence" seemed to mark a serious departure from orthodox Chinese political theory. Confucius himself had posited in the fifth century BCE that those individuals who best demonstrated what he referred to as moral force should lead the nation.

An Alarming Portrait of the Nuclear Power in the World

Unfortunately, even if someone could wave a magic wand that causes all of the nuclear weapons on earth to disappear, many believe that due to the depletion of natural resources, the earth would still be in danger of catastrophe, and humankind in danger of extinction. Jonathan Schell's book â€Å"Fate of the Earth† is an alarming portrait of the nuclear power in the world. Since the end of World War II, nuclear arms have kept the world's population in a state of constant concern that â€Å"something† could happen, whether by design or accident. As tensions continue to build throughout the Middle East, particularly between India and Pakistan, and more recently the nuclear potential of North Korea and China, the nuclear arms race may have subsided between the United States and Russia however, it is still alive and thriving around the globe. As Schell writes, â€Å"These bombs were built as weapons for war but their significance greatly transcends war and all its causes and outcomes†¦ They grew out of history, yet they threaten to end history† (Schell 3). The potential for nuclear war seems to increase daily as more countries seek to obtain the ultimate weapon of power, the â€Å"Rolls Royce† of combat, the ability to destroy thousands of lives in a flash. Yet with that flash, comes not only the possibility but the probability of more flashes resulting in incalculable damage to life and the earth itself. Schell writes that nuclear weapons â€Å"are a pit into which the whole world can fall – a nemesis of all human intentions, actions and hopes† (Schell 3). Yet, many believe that the earth's future is in peril even without the threat of nuclear wars. They believe that the impact of man upon the environment and the planet's natural resources threatens the earth and humankind as greatly as any nuclear war. Within recent decades, many environmental indicators have moved outside the range in which they have varied for the past half-million years (Wallstrom pp). According to a 2004 article in the International Herald Tribune, â€Å"We are altering our life support system and potentially pushing the planet into a far less hospitable state† and if policies cannot be developed to cope with the â€Å"uncertainty, complexity and magnitude of global change, the consequences for society may be huge† (Wallstrom pp). Although there has been much progress during the last century, such as the eradication of major diseases along with increased life expectancy and standards of living for many, the global population has tripled since 1930 to more than six billion and shows signs of continue growth, and moreover, the global economy has increased more than 15-fold since 1950 (Wallstrom pp). This progress has led to a wide-ranging impact on the environment as human activities have begun to significantly affect the planet and how it functions (Wallstrom pp). Atmospheric composition, land cover, marine ecosystems, coastal zones, freshwater systems and global biological diversity have all been substantially affected,† however, it is the magnitude and rate of this human-driven change that are most alarming (Wallstrom pp). The increase in atmospheric carbon dioxide due to human activity is nearly 100 parts per million and still growing (Wallstrom pp). This is already equal to the entire range experienced between an ice age and a warm period such as today and it has occurred at least ten times faster than any natural increase in the last half-million years (Wallstrom pp). Moreover, human influence extends beyond atmospheric carbon dioxide levels and increases in global mean temperature (Wallstrom pp). During the 1990's, the average area of humid tropical forest cleared yearly was equivalent to roughly half the area of England, and at current extinction rates, humans â€Å"may well be on the way to the Earth's sixth great extinction event† (Wallstrom pp). The Earth is a well-connected system, thus, carbon dioxide emitted in one country rapidly mixes throughout the atmosphere, and pollutants released into the ocean in one location are transported to distant parts of the planet (Wallstrom pp). The impacts of global change are complex, since they combine with local and regional environmental stresses in unexpected ways (Wallstrom pp). For example, coral reefs are now under additional pressure from changing carbonate chemistry in ocean surface waters, a result of the increase in atmospheric carbon dioxide (Wallstrom pp). Moreover, the wildfires that hit Europe, Canada, California and Australia in 2003 were the result of many factors, such as land management, ignition sources and extreme local weather (Wallstrom pp). However, prevailing warm and dry conditions, most likely linked to climate change, amplified fire intensity and extent (Wallstrom pp). Due to poor access to fresh water, more than two billion people now live under what experts call â€Å"sever water stress,† and with population growth and economic expansion, this number is expected to double by 2025 (Wallstrom pp). Biodiversity losses, currently driven by habitat destruction associated with land-cover change, will be further exacerbated by future climate change. Beyond 2050, rapid regional climate change, as would be caused by changes in ocean circulation in the North Atlantic, and irreversible changes, such as the melting of the Greenland ice sheet and the accompanying rise in sea levels of 6 meters, or 20 feet, could have huge economic and societal consequences (Wallstrom pp). Past geological records indicate that never before has the Earth experience the current â€Å"suite† of simultaneous changes and many feel that humans are sailing into â€Å"planetary terra incognita† (Wallstrom pp). According to a 1999 article from Cornell University, â€Å"because population growth can not continue indefinitely, society can either voluntarily control its numbers or let natural forces such as disease, malnutrition, and other disasters limit human numbers† (Pimentel pp). Human population, especially in urban areas, together with the increasing food, water, air, and soil pollution by pathogenic organisms and chemicals, are causing a rapid increase in the prevalence of disease and human deaths (Pimentel pp). Due to current food shortages, more than 3 billion people are malnourished worldwide, the largest number and proportion ever, and according to the World Health Organization, an estimated 40,000 children die each day due to malnutrition and other diseases (Pimentel pp). Humans are responsible for fifty-five percent of all available water run-off (Myers pp). Moreover, greater amounts of nitrogen and phosphorus are mobilized by humans in the form of crop fertilizer than by natural processes, and humans harvest an amount of ocean fish that reflects fully one third of phytoplankton productivity in temperate continental shelves (Myers pp). A NASA study released in April 2005, has revealed the heat exchange between the Earth and space is seriously out of balance, leading researchers to call it the â€Å"smoking gun† discovery that validates forecasts of global warming (Hanley pp). According to computer models of climate change, the global temperatures will rise 1 degree Fahrenheit this century, â€Å"even if greenhouse gases are capped tomorrow† (Hanley pp). And if carbon dioxide and other heat-trapping emissions continue to grow, things could spin â€Å"out of our control† especially as ocean levels rise from melting Greenland and Antarctic ice sheets (Hanley pp). James Hansen of NASA said the research shows that â€Å"for every square meter of surface area, the planet is absorbing almost one watt more of the sun's energy than it is radiating back to space as heat – a historically large imbalance† (Hanley pp). According to a Stanford University study release May 16, 2005, the first signs of spring are appearing earlier each year: robins are arriving several days earlier, woodpeckers are laying their eggs a week earlier, and Washington's cherry trees bloom a month earlier than they did fifty years ago (Borenstein pp). The study says that man-made global warming is clearly to blame, and means that the global environment is changing so fast that the slow evolutionary process of species adaptation cannot keep up (Borenstein pp).

Definition and Examples of Metanoia

Metanoia is a  rhetorical term for the act of self-correction in speech or writing. Also known as  correctio or the figure of afterthought. Metanoia may involve amplifying or retracting, strengthening or weakening a prior statement. The effect of  metanoia, says Robert A. Harris, is  to provide emphasis (by fussing over a term and redefining it), clarity (by providing the improved definition), and a sense of spontaneity (the reader is thinking along with the writer as the writer revises a passage) (Writing with Clarity and Style, 2003). EtymologyFrom the Greek, change ones mind, repent Examples and Observations Kreuz Market is the ultimate barbecue restaurant—no, scratch that—barbecue experience in Central Texas (and therefore the world).You might have heard a pin fall—a pin! a feather—as he described the cruelties  inflicted on muffin boys  by their masters . . ..(Charles Dickens,  Nicholas Nickleby, 1839)To Put It a Better Way . . .  [W]ithout that association, that sense of membership in something—or to put that a better way, without a sense of belonging and participation in a group effort, the employee loses focus on what were trying to accomplish.(Unnamed president of a media company quoted in The Servant Leader, by James A. Autry. Prima Publishing, 2001)Let Me Correct That . . .Shortly after I came to Washington I was told in a way that showed me it was no loosely thought out—let me correct that statement. I was told in a serious way that Mr. Finletter—or rather, I was told by Mr. Finletter that he had serious question as to the loyalty of Dr. Oppenheimer.(David Tressel Griggs, witness at physicist J. Robert Oppenheimers hearing before the Atomic Energy Commissions Personnel Security Board, May 1954. In the Matter of J. Robert Oppenheimer: The Security Clearance Hearing, ed. by Richard Polenberg. Cornell University Press, 2002)Or More Properly Speaking . . .The meal, when beaten up, is used for thickening broths, and rolled up into bolsters about a foot long and two inches in diameter, and then wrapped in plantain leaves, and tied round with tie-tie and boiled, or more properly speaking steamed, for a lot of the rolls are arranged in a brass skillet. . . . [T]he whole affair is poised on the three cooking-stones over a wood fire, and left there until the contents are done, or more properly speaking, until the lady in charge of it has delusions on the point, and the bottom rolls are a trifle burnt or the whole insufficiently cooked.(Mary H. Kingsley, Travels in West Africa, 1897)For my own part, cried Pereg rine, with great eagerness, I appeal to Miss Sophys decision. But why do I say appeal? Though I am conscious of having committed no offence, I am ready to submit to any penance, let it be ever so rigorous, that my fair enslaver herself shall impose, provided it will entitle me to her favour and forgiveness at last.(Tobias Smollett, The Adventures of Peregrine Pickle, 1751)The Persuasive Value of Metanoia- Metanoia can have mild persuasive value. The speaker may utter a less controversial claim, then revise it to make it stronger. This brings the reader along more gently than announcing the stronger claim on its own. Or conversely the stronger claim may be offered first but then reduced to something less ambitious that seems easy to accept by comparison. . . .Metanoia can create an impression of scrupulousness, as the speaker starts to say one thing but then feels obliged to take the initiative in correcting it. (It also can suggest overscrupulousness, as when the speaker fusses too much.)(Ward Farnsworth, Farnworths Classical English Rhetoric. David R. Godine, 2011)-  Metanoia can serve a variety  of rhetorical ends. Stopping to correct oneself disrupts the flow of discourse, drawing attention to and emphasizing the revision.  Or, in a move similar to  paralipsis, retracting a statement allows the speaker to introduce an idea or claim and then avoid responsibility for having done so.  Sometimes strengthening an  initially mild or uncontroversial statement (or qualifying an initially strong one) can persuade an audience by making the speaker seem more reasonable.(Bryan A. Garner,  Garners Modern English Usage. Oxford University Press, 2016)Finding the Right Word[I]t seemed to me that there was a safe and unassailable foundation for our claim to interfere on behalf of British subjects, and that was the right which every State possesses to protect its subjects in another State from wrong. That was a right which we possessed in an unusual degree in S outh Africa owing to the peculiar position of the country—a country where there were two races side by side, both of them determined in their opinions, with a history of their own, and jealous of their independence. Perhaps independence is not the right word to use. I mean, rather, jealous of the equality of their rights.(John Wodehouse, Earl of Kimberly, Address in Answer to the Queens Speech, Oct. 17, 1899)I Should Say . . .I rather was minded to make known to you that I—or, I should rather say, we, and Mr. Crawley pointed to his wife--shall not accept your plainness of speech as betokening aught beyond a conceived idea in furtherance of which you have thought it expedient to make certain inquiries.I dont quite follow you, said the major.(Anthony Trollope, The Last Chronicle of Barset, 1874) Pronunciation: met-a-NOY-ah

Using Death Row Inmates For Medical Research Essay examples

Katelyn Morgan ENG 111 Shores October, 2012 Using Death Row Inmates For Medical Research Due to animal testing, one animal dies in a laboratory in the United States every second, in Japan every two seconds and in the United Kingdom every twelve seconds. Billions of non-human animals have been burnt, crushed, sliced, electrocuted, poisoned with toxic chemicals, and psychologically tormented because of medical research. Alternatives for these experiments have shown to be less expensive and can be used repeatedly. We are in desperate need of reliable medical research. Why not experiment and receive more accurate finding for our medical needs? Why not use people who didn’t think twice about giving up their so-called human-rights when†¦show more content†¦During testing, it was shown to decrease this rate. Companies â€Å"claim† they carry out animal testing to establish the safety of their products beyond doubts. Their â€Å"main reason† to continue their horrific experiments on defenseless animals is to protect overall human health. It does not seem completely logically to test human products and inject human diseases in animals that often are not resulting in the accurate results society depends upon. What better way to determine what effects a drug will have on a human than by testing it on a human? Death Row Inmates who have been proven guilty of their heinous crime should have to partake in a service to improve humanity since they are no longer a productive member of society. According to the 8th Amendment to the United States Constitution, we as the people prohibit the federal government from imposing excessive bail, excessive fines or cruel and unusual punishment. There are particularly four principles by which we may determine whether a punishment is â€Å"cruel and unusual.† The four principles are as follows: Degrading to human dignity, especially torture; inflicted in wholly arbitrary fashion, in other words, given for no legitimate reason; rejected throughout society; patently unnecessary. Since medical testing on animals still exists, it looks as though it is done for a legitimate reason and purpose, it is still not rejected throughout our entire society to compl etely ban the procedures, and it is apparent that the testsShow MoreRelatedEssay about Organ Transplants for Prisoners1411 Words   |  6 PagesIn the article â€Å"Wanted, Dead or Alive? Kidney Transplants in Inmates Awaiting Execution†, Jacob M. 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Identity Works Relevance For Understanding Contemporary Work

Identity Work’s relevance for understanding contemporary work and organising: - Shifting towards a modern organisational identity: - In order to understand identity work, we need to understand the changing role of organisational identity in contemporary organisation. Marx, Weber Durkheim observed a shift from agricultural and craftwork to factory and office based work (Barley Kunda, 2001). A shift from a more physical blue-collar labour to an office based white collar took place. Whilst computers and other technologies have eliminated different kinds of work, they have also created new ones and have transformed a significant portion of others, for example in IT industry (Barley 1988, Adler 1992). There are new struggles in the workplace ¬, such as new identity intensive issues such as feminisation of managerial roles, the shifting meaning of professionalism and internationalisation of business activity. The increased number of women occupying managerial and professional positions, traditionally taken by men, has changed the former taken-for-granted meaning of managerial identity (Alvesson Willmott, 2002). Tak ing all of these identity changes in account, Barley and Kunda suggest that the nature of work and organisation studies are interdependent (Barley Kunda 2001), therefore, contemporary organisational theorists are forced to adapt to the change in the nature of work. Defining and Conceptualising Identity Work: - Identity work is the process of forming,Show MoreRelatedANALIZ TEXT INTERPRETATION AND ANALYSIS28843 Words   |  116 PagesAny literary work is unique. It is created by the author in accordance with his vision and is permeated with his idea of the world. The reader’s interpretation is also highly individual and depends to a great extent on his knowledge and personal experience. That’s why one cannot lay down a fixed â€Å"model† for a piece of critical appreciation. Nevertheless, one can give information and suggestions that may prove helpful. PLOT The Elements of Plot When we refer to the plot of a work of fiction, thenRead More Transcending Herbert Marcuse on Alienation, Art and the Humanities4411 Words   |  18 Pageslearning to art, political education to human flourishing? Philosophers from Confucius and Aristotle to John Dewey and Paulo Freire have investigated, as the axial human problem, how education is to help us in accomplishing our own humanization. The contemporary search for a genuinely critical theory and an authentically democratic society continues that project. But what can make theory critical, education liberating, society democratic? It is necessary to theorize our society critically if we areRead MoreManagement Course: Mba−10 General Management215330 Words   |  862 PagesISBN: 0−390−58539−4 Text: Effective Behavior in Organizations, Seventh Edition Cohen Harvard Business Review Finance Articles The Power of Management Capital Feigenbaum−Feigenbaum International Management, Sixth Edition Hodgetts−Luthans−Doh Contemporary Management, Fourth Edition Jones−George Driving Shareholder Value Morin−Jarrell Leadership, Fifth Edition Hughes−Ginnett−Curphy The Art of M A: Merger/Acquisitions/Buyout Guide, Third Edition Reed−Lajoux and others . . . This book was

Foreign Exchange Research & Trading Report †MyAssignmenthelp.com

Question: Discuss about the Foreign Exchange Research and Trading Report. Answer: Introduction Foreign Exchange rate can be defined as the rate at which the currency of one country may be transformed into the currency of another country (Moosa Bhatti, 2010). It is considered as one of the most important means which assists in determining the relative level of the economic health of a country. The foreign exchange rate provides a window to the economic stability of a country. The fluctuations in exchange rates re caused daily with the changes in market forces of demand and supply of the currencies from one county to another. This report focuses on the factors that have an influence on the value of exchange rate such as the supply and demand, inflation and deflation, interest rates and money supply policy, balance of payments, asset prices and politics and war (Block, Hirt Danielsen, 2011). This report also discusses the management of the value of Chinese Yuan (CNY) by Peoples Bank of China (PBOC) along with the opinion regarding the future direction of PBOC policy. Factors having greatest influence on the value of Exchange Rates Following are the factors that have the greatest influence on the value of exchange rates. Supply and Demand The forces of demand and supply have a great influence on the determination of exchange rates (Levi, 2009). The value of a currency is expected to increase when there is high demand for that currency in comparison with the currency for which there is less demand (Gabaix Maggiori, 2015). The value of a currency is declined in comparison with other currency when the holders of such currency have a desire of disposing it in exchange for other currencies. The detection of opportunity in a particular currency by the market participants, either for higher investment returns or direct appreciation, results in the increase in demand for that currency (Corsetti Lloyd, 2016). This in turn will lead to currency appreciation as the purchasers will outbid on another. When such an opportunity is moved to another currency/ country, first currency holders sell their currency for obtaining the currency associated with new opportunity. The fall and rise of the exchange rate depend on the basic econo mic conditions that prompt investors, traders and others to obtain more of a specific currency (Metcalf, 2018). For example, in 1971, there was upward float in the exchange rate and then a downwards float against all the foremost currencies until the year 1976. One of the main reason behind this depreciation was a rapid demand expansion in the UK. Inflation and Deflation Inflation can be defined as the rate at which there is an increase in the general level of prices of goods and services (Hart, 2009). The variations in the inflation rate have short term and long term implications for the foreign exchange market. The value of the currency increases with the fall in inflation rate of a country. Lower inflation also results in slower rate of increase in the prices of goods and services. Rising currency value is exhibited by the country having a consistent lower inflation rate whereas depreciation in the currency is witnessed by the country with higher inflation rate (Weale, Blake, Christodoulakis, Meade Vines, 2015). In other words, cost of production is increased due to inflation which subsequently results in the increase in prices for goods which in turn leads to less competitive exports. This further leads to fall in exports thereby weakening the domestic currency. High signs of inflation have the capability of bringing an increase in the domestic currency due to the anticipation of traders regarding the possibility of slowing down of inflation by increasing interest rates attempted by the local central bank. Deflation, on the other hand, is considered as the symbol of economic depression and is complemented by a weaker currency and lower interest rates (Frenkel Johnson, 2013). For example, UK suffered from the peak of inflation in the late 1970s and early 1980s. For a very long time, the value of pound has been weak in comparison with dollar which is depreciating since the preceding 116 years by an annual rate of 1 percent. This depreciation is considered to be a result of the higher inflation rate in Britain which resulted in degrading the purchasing power of the pound by a minuscule 0.22 percent every year. Interest Rates and Money Supply Policy The official monitory policy of a country sets the interest rates which have a great influence on the exchange rates (Bodenstein, Erceg Guerrieri, 2017). The level of economic activity is influenced by the Central banks along with the influencing the behavior of lenders and borrowers in their currency by fluctuating the interest rates. The rate of foreign exchange, inflation and interest rates are correlated. The dollar exchange rate and currency value is affected as a result of changes in interest rates. Appreciation in the currency of a country is witnessed when there is an increase in the interest rates. This is due to the fact that higher interest rates provide higher rates to the lenders which in turn attract larger foreign capital and lead to a rise in the exchange rates. The hunt for best possible returns by the foreign investors leads to the attraction of larger investment funds to the country and this leads to the strengthening of the currency due to higher interest rates. Moreover, the official monetary policy in eased and the interest rates are lowered when the central bank views the economy as sluggish. This in turn weakens the country currency. Moreover, the increase in the money supply reduces the interest rates which further leads to a reduction in the exchange rates. For example, a rise in the UK interest rates was witnessed during the mid- 1970s, without any equivalent increase in the interest rates in US, the difference is accounted for by a discount on sterling. From 1973 to 1976, it was expected that there will be a substantial depreciation in sterling and therefore, the interest rates of UK were required to be in excess of US rates by an equal margin. Balance of Payments Balance of payments (BOP) can be defined as the summary of all the international transactions of a country in a specific period of time (Stern, 2017). When the exports of a country are more than its imports then it is known as trade surplus. Moreover, when the imports of a country are more than its exports then it is known as trade deficit. A country has firmer currency in cases when the exports are more than the imports in comparison with the country which is involved in more importing. Changes in the balance of payments of a country cause variations in the exchange rate. More foreign receipts are generated in a country having a trade surplus than the foreign debts. For the purpose of conversion of these foreign receipts into the local currency, the requirement arises for selling the foreign currencies and purchasing the local currency. This purchasing of the local currency is in excess of the sale made by the importers exchanging their funds into foreign currencies for paying for t heir purchases. The value in comparison with other currencies is lifted as a result of excess demand for the domestic currency. There are two interrelated and different markets at work: the demand and supply of a particular currency (exchange rate) and the market for the international markets financial transactions (balance of payments). The exchange rate is not impacted by the balance of payments in a fixed- rate system as the currency flows is adjusted by the central banks for offsetting the exchange of funds internationally. For example, a deficit on the current account balance of payments was faced by UK throughout the 1950s and 60s. Trade deficit was considered as the major economic problem faced by UK. For the purpose of financing the current account deficit, the use of capital flows or diminishing foreign exchange reserves were required. This along with several other factors resulted in the devaluation of sterling in the year 1967. From $2.80 to $2.40 which was a devaluation of nearly 14%. Asset Prices The prices of the assets also have an influence on the foreign exchange rate. Assets comprise of items such as equities, bonds and real estate (industrial, commercial and residential). In cases, where a buoyant market is enjoyed by assets in a particular country, the chances of the attraction of international investment managers are increased for the purpose of maximizing their returns (Andersen, Bollerslev, Diebold Vega, 2007). The buying of local currency will significantly increase due to relatively high returns as there is a flow of foreign funds into the better performing assets. When the rates are increased by the central bank (returns increase and the prices of asset prices fall), there is an appreciation in the currency due to the attraction of the investors towards it (Cooper, 2014). There is a relationship between the general trend of the currency and the return on assets: the increased risk taking among people leads to the depreciation in the low- yielding currencies. For example, the financial markets of the US faced financial market movements of an average of over 25% of euro area during the year 1989- 2004, whereas 8% of the variance of asset prices of US were accounted for by euro area markets. Politics and Wars The currency strength of a country is also affected by political stability, economic performance and proneness to wars (MacDonald, 2007). Foreign investors are more attracted to a country which suffers from less risk for political turmoil. This in turn draws the investment away from the countries prone to more political and economic risk. In other words, the currency market participants does not like risk and uncertainty, especially political uncertainty as it has the capability of causing unintended consequences which are not priced in by the investors and traders at the commencement (Quinn Weymouth, 2016). The value of the local currency of the country is appreciated as a result of increase in the foreign capital. When the financial and trade policy of a country is sound, there is no uncertainty in the currencys value. However, depreciation in the exchange rates of a country can be witnessed when such a country is prone to political confusions. The fluctuations in the exchange rat es are caused by terrorist attacks and wars which leads the investors towards seeking the safest place for their money (Suleman Berka, 2017). For example, before the start of the First World War, every 1 was worth under $5. The pound was weakened as a result of Napoleonic wars which are considered as one of the exceptional period which led to the temporary spiking up of the pound to $10. The First World War resulted in the suspended gold standard and the war imposed financial burden on the sterling which made it sink to $3.66 (Connington, 2016). Management of Value of CNY by PBOC and Future Direction of PBOC Policy Unlike the international trade partners of China who allow free floating of the value of their currencies against others, the currency policy of China is strictly controlled where the trading activity is controlled and the daily movements of the yuan is regulated by China on the foreign exchange market. For the purpose of taming the economic instability, Peoples Bank of China (PBOC) fixed the exchange rate at slightly higher than 8 yuan to the US dollar and maintained it until 2005 when the currency policy was moved towards liberalization by the introduction of a narrow trading band. The trading band was allowed to be widened in the past decade by the Chinese government starting at +/- 0.3% and finally reaching +/- 2% by March 2014 (FXCM, 2016). The Peoples Bank of China has maintained strict rules for banks and individuals holding foreign currency. This is the reason due to which the currency is not yet considered to be fully convertible. Investors are required to sell their dollars or foreign currency directly to the Peoples Bank of China when they want to exchange it for yuan so that it can be incorporated by PBOC into the foreign reserves of the country. The portion of the reserves of China is used for the purpose of influencing the value of yuan through the interventions in the foreign exchange market. The foreign currency reserves are sold in the market by PBOC for strengthening yuan. When the currency of the country is required to be weakened PBOC makes the use of its local currency for buying foreign currency. In case where interference is required, the government can make the use of interbank market for buying or selling the currency, where the PBOC designated foreign exchange banks are maintained for operating on i ts behalf for spot market transactions. The Peoples Bank of China also has instruments such as derivative contracts at its disposal for influencing the value of the currency and market. PBOC has used some of these instruments for bringing sophistication in the management of foreign reserves and currency rates. These instruments are used as it does not require PBOC to sell dollar supplies immediately and is therefore advantageous. This further leads to slowing down of the depletion of Chinas reserves thereby maintaining market confidence in its ability for intervening in the future. After the liberalization of currency policy in the year 2005, higher interest rates had been maintained by PBOC. However, in the year 2014, the local interest rates were eased by PBOC for the purpose of counteracting the slowing economy. The foreign currency inflows were discouraged into the economy as a result of rate easing thereby leading to the pressure for the weakening of yuan. The currency rate of China is currently maintained within a controlled band that varies in accordance with the market demand. PBOC is said to prefer near-term levels of currency by way of its interbank foreign exchange system. Mid-price is used by PBOC for guiding the daily fixing of the exchange rate of yuan against dollar on the basis of the previous closing price of yuan against US dollar. The Peoples Bank of China has allowed the exchange rate to fall or rise up to 2% on daily basis from official midpoint (South China Morning Post, 2017). The power of the Chinese currency is a result of its exports made to America. The payment for the exports is received in dollars by the Chinese companies from the United States. The dollars are deposited by such companies into the banks in exchange for yuan for the purpose of making payment to their employees. The dollars are then send to PBOC by the banks. It is then stockpiled into the foreign exchange reserves which in turn cause a reduction in the supply of dollars available for trade (Yu, 2014). This results in rising of the dollars value and falling of yuans value. Dollars are utilized by PBOC for purchasing U.S Treasures (Amadeo, 2017). The regime used for the management of yuan has now been changed by Peoples Bank of China by way of removing a component utilized for the purpose of calculating their submissions to the daily reference rate of the currency. Counter- cyclical factor has been introduced by China for reducing the fluctuations in yuan initiating the introduction of capital controls. This led to better control of PBOC over yuan but weakened the efforts made earlier for making yuan more market driven and accessible (Bloomberg, 2018). The future direction of the PBOC policy is highlighted by the signals as to future reforms of the financial signals of the country and the direction of the monetary policy. Yi Gang, the Deputy Governor of PBOC, referred to the repeated reference of the central government to stability in the monetary policy and creation of an external environment that is capable of stably proceeding financial reforms and preventing risk. The deputy governor of Peoples Bank of China has also signified that PBOC will continue its managed floating exchange rate framework for keeping the stability in yuan currency. The framework will be based on the demand and supply and the value of yuan against a basket of currencies. The yuan exchange rate is expected to be further liberalized in order to maintain the stable position of yuan in the global monetary system. (Reuters, 2017) Conclusion Foreign exchange is the rate at which the currency of one country may be transformed into the currency of another country. this report assists in concluding that there are a number of factors which influences the value of exchange rate including demand and supply, interest rate and money supply policy, inflation and deflation, balance of payments, asset prices and politics and wars, etc. (James, Marsh Sarno, 2012). Moreover, this report focused on the management of Chinese Yuan (CNY) by Peoples Bank of China (PBOC) along with the opinion regarding the future direction of PBOC policy. Therefore, it can be concluded that the maintenance of strict rules by PBOC has resulted in stable position of yuan. Moreover, steps are being taken to maintain this stability of yuan in the global monetary system with the help of floating exchange rate framework. References Amadeo, K. (2017). How Does China Influence the U.S. Dollar?. Retrieved March 21, 2018 from https://www.thebalance.com/how-does-china-influence-the-u-s-dollar-3970466 Andersen, T. G., Bollerslev, T., Diebold, F. X., Vega, C. (2007). Real-time price discovery in global stock, bond and foreign exchange markets.Journal of international Economics,73(2), 251-277. Block, S. B., Hirt, G. A. Danielsen, B. R. (2011). Foundations of financial management. Tata McGraw-Hill Education. Bloomberg. (2018). China Changes the Way It Manages Yuan After Currency's Jump. Retrieved March 21, 2018 from https://www.bloomberg.com/news/articles/2018-01-09/china-is-said-to-shift-way-it-manages-yuan-after-currency-s-jump Bodenstein, M., Erceg, C. J., Guerrieri, L. (2017). The effects of foreign shocks when interest rates are at zero.Canadian Journal of Economics/Revue canadienne d'conomique,50(3), 660-684. Connington, J. 2016. From $5 to $1.22: the 200-year journey of the pound against the dollar. Retrieved March 21, 2018 from https://www.telegraph.co.uk/money/special-reports/from-5-to-122-the-200-year-journey-of-the-pound-against-the-doll/ Cooper, R. N. (2014). Exchange rate choices. Corsetti, G., Lloyd, S. P. (2016). Demand and Real Exchange Rate Determination in Open Economies: Foundations of Misalignments and Global Imbalances. Frenkel, J. A. Johnson, H. G. (2013). The Economics of Exchange Rates (Collected Works of Harry Johnson): Selected Studies. Routledge. FXCM. (2016). How Does China Control Exchange Rates?. Retrieved March 21, 2018 from https://www.fxcm.com/insights/how-does-china-control-exchange-rates/ Gabaix, X., Maggiori, M. (2015). International liquidity and exchange rate dynamics.The Quarterly Journal of Economics,130(3), 1369-1420. Hart, J. (2009). How Inflation Works. The Rosen Publishing Group. James, J., Marsh, I. Sarno, L. (2012). Handbook of Exchange Rates. John Wiley Sons. Levi, M. D. (2009). International Finance 5th Edition. Routledge. MacDonald, R. (2007). Exchange Rate Economics: Theories and Evidence. Psychology Press. Metcalf, T. (2018). The Effect of Supply Demand on the Rate of Exchange. Retrieved March 21, 2018 from https://smallbusiness.chron.com/effect-supply-demand-rate-exchange-67467.html Moosa, I. A. Bhatti, R. H. (2010). The Theory and Empirics of Exchange Rates. World Scientific. Quinn, D. P., Weymouth, S. (2016). The Political Origins of Exchange Rate Valuations. Reuters. (2017). China to maintain exchange rate policy framework - central bank deputy governor. Retrieved March 21, 2018 from https://www.reuters.com/article/uk-china-economy-exchange-rate/china-to-maintain-exchange-rate-policy-framework-central-bank-deputy-governor-idUSKBN16D0SH South China Morning Post. (2017). Why the PBOC has changed the way it computes the yuans daily midpoint. Retrieved March 21, 2018 from https://www.scmp.com/business/banking-finance/article/2072973/why-pboc-has-changed-way-it-computes-yuans-daily-midpoint Stern, R. (2017).Balance of Payments: Theory and Economic Policy. Routledge. Suleman, T., Berka, M. (2017). Political Risk, Exchange Rate Return and Volatility. Weale, M., Blake, A., Christodoulakis, N., Meade, J. E., Vines, D. (2015).Macroeconomic policy: inflation, wealth and the exchange rate(Vol. 8). Routledge. Yu, Y. (2014). Revisiting the Internationalization of the Yuan. InReform of the International Monetary System(pp. 107-129). Springer, Tokyo.