...The Yuan vs. the U.S. Dollar Over the last few years, the economy of China has grown at a considerably high rate averaged at nearly 10% annually. Due to this enormous growth, China now influences the economy of virtually every country all over the world. This is more apparent and frightening, considering the United States’ economic relationship with China. Until 2005, China pegged its currency to the U.S. dollar, but as from July 2005, it linked its currency to other currencies rather than dollars and let its currency appreciate by 2.1%. The central bank of China did this by buying and selling the dollar dominated assets in exchange of printed Yuan in order to eliminate excess supply or demand for the Yuan. Due to this, the exchange rate between the dollar and the Yuan, basically, remained constant irrespective of changes in economic factors which could have otherwise destabilized the Yuan relative to the dollar. Since these reforms, China has continued manipulating its currency to its advantages, such as giving exporters an unfair trade advantage. This paper will provide an analysis of China’s Yuan against the U.S. dollar for the past 5 years ending in 2010. Also, the exchange-traded fund (ETF) of Yuan is discussed in depth. Recently, the U.S. policymakers had been having debates over China’s currency policy. The policy adopted by China has been linked to the rapidly growing United States’ trade deficit with China and the decline of employment in the U.S. and the emergence...
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...item and monetary markets encouraged by advancement (Alimi and Atanda, 2011). The long standing verbal confrontation among researchers on the financial ramifications of globalization on the economy of countries around the globe keeps on social occasion force on consistent schedule, most particularly in the creating countries of the world disclosing differently exhaustive and profoundly overhauled appraisal with quirk to the every countries. A portion of the heroes of globalization have construct their accommodation in light of the idea that all nations of the world have rise to inclinations of tackling the increases from globalization. In any case, the best worry about globalization as distinguished by Awake (2002) is the perpetually expanding hole between the wealthy and those who lack wealth. The procedure of globalization has expanded consistently in the Nigerian economy and has prompted steady changes in the financial structure. Obaseki (2000) recognized that globalization give number of chances which include: expanded specialization and productivity, economies of scale underway, and expanded worldwide welfare while the difficulties include: the plan of proper structure to guarantee that local money related administration is not disabled, and that the local economy is not unduly destabilized attributable to unfriendly improvements in different parts of the world. Regardless of the serious debate in the academics on the subject matter, no country in the world seems to be excluded...
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...Ferdinand Edralin Marcos (1965-1986) C. Liberalized Credit More than one thousand rural banks spread all over the country resulting to the accessibility of credit to finance purchase of agricultural inputs, hired labor, and harvesting expenses at very low interest rate. During 1981-1985, credit was available without interest and collateral arrangements. Some of the credit programs were the ff: Programs: 1. Biyayang Dagat (credit support for fishermen) 2. Bakahang Barangay --supported fattening of 40,000 head of cattle in farmer backyards 3. Masaganang Maisan, Maisagana, and Expanded Yellow Corn Program --supported 1.4 Million farmers through P4.7 Billion loans from 1975-1985 4. Gulayan sa Kalusugan and Pagkain ng Bayan Programs --provided grants and loans of P12.4 Million to encourage backyard and communal production of vegetables and improve nutrition of Filipino households 5. Kilusang Kabuhayan at Kaunlaran (KKK)—supported 25,000 entrepreneurial projects through P1.8 Billion and helping 500,000 beneficiaries D. Decontrol Program Price control polices were implemented on rice and corn to provide greater incentive to farmers to produce more. Deregulation of trading in commodities like sugar and coconut and agricultural inputs like fertilizer were done for more efficient marketing and trading arrangements. Reforms: II. Education Reform Access to free education widened during the Marcos Administration. The biggest portion of the budget was allotted for Educational...
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...During the early 1990s, the Mexican economy appeared to be healthy. This was a positive sign because the economy had experienced some challenges which included the “lost decade” of the 1980s. This "lost decade" comprised of the 1982 debt crisis and the 1986 collapse of oil prices both of which negatively impacted the economy. Furthermore, inflation was reduced considerably; foreign investors had increased funds invested, and the central bank had billions of dollars in reserves. Additionally, there were serious talks on reducing trade barriers with the United States. This was done through NAFTA; otherwise known as the North American Free Trade Agreement, which was implemented at the start of 1994. Nevertheless, less than twelve months after...
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...responsibility than today’s early adulthood because of the social and economic change that has happened. My understanding of both the ideas, “social and economic” are the two things that gave women their own financial independence, and let the present early adulthood without thinking the responsibility...
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...to blame. 4. There had been an agricultural depression that, by 1929, was already a decade old. 5. Nearly half the American people still live in the countryside in the 1920s, and they lived in the grip of a chronic depression. 6. If you were black, if you were a famer, or if you were a recent immigrant living in America in the 1920’s you did not share, generally speaking, in that so-called 1920s prosperity. 7. From the onset of the American industrial revolution in the early nineteenth century right down to the 1930s, the American economy was essentially on a roller coaster ride, where they’d have these periodic boom and bust cycles-depressions in the 1830s, the 1850s, the 1870s, the 1890s; right after World War I was another one-on a scale that we have not seen for the last half century. 8. Insofar as there is a consensus, it seems to be that the First World War so destabilized the major industrial economies and so disrupted the international system of trade and finance that it left in its wake a highly vulnerable system that finally succumbed a decade after the war’s conclusion, in 1929 or 1930, to all the liabilities that had been put into it, you might say, as a result of the...
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...Better economic gain. The early history of entrepreneurship in India reflect from the culture, customs and tradition of the India people. The Baliyatra Festival of Cuttack, Orissa reminiscence of past glory of International trade. To process of entrepreneurship therefore passed through the potential roots of the society and all those who accepted entrepreneurial role had the cultural heritage of trade and business. Occupational pursuits opted by the individual under the caste system received different meaning of value attached to entrepreneurship. Which is based on social sanctions. Vaishyas are considered to venture in to business pursuits. As society grew and the process of business occupation depended and the value work tended towards change...
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...Kurt Lewin's Change Theory Organizations face the continuous prospect of change as they fight to survive and remain competitive in a globalized economy. Changes exist in both the external and internal environments. As organizational environments exert pressure for change, organizations must adjust if they are to survive and prosper. According to Medley and Akan (2008), theories concerning organizational change were dominated by Lewin’s planned change approach (1947), which brings together four complex elements: (1) field theory, which seeks to map the totality of human behaviors taking place; (2) group dynamics, which seeks to understand the behavior of groups; (3) action research, which requires analyzing the situation and choosing the best change for the situation; and (4) the three-step planned change model, consisting of (a) unfreezing human behavior that is supported by a complex field of driving and restraining forces, (b)changing- moving to learn new behaviors and effectuating required changes, and (c) refreezing an equilibrium to ensure new behaviors. Unfreezing According to Burnes (2004), Lewin believed that the stability of human behavior was based on a quasi-stationary equilibrium supported by a complex field of driving and restraining forces. He argued that the equilibrium needs to be destabilized (unfrozen) before old behavior can be unlearnt and new behavior successfully adopted. Unfreezing is altering the present stable equilibrium which supports...
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...Organizations face the continuous prospect of change as they fight to survive and remain competitive in a globalized economy. Changes exist in both the external and internal environments. As organizational environments exert pressure for change, organizations must adjust if they are to survive and prosper. According to Medley and Akan (2008), theories concerning organizational change were dominated by Lewin’s planned change approach (1947), which brings together four complex elements: (1) field theory, which seeks to map the totality of human behaviors taking place; (2) group dynamics, which seeks to understand the behavior of groups; (3) action research, which requires analyzing the situation and choosing the best change for the situation; and (4) the three-step planned change model, consisting of (a) unfreezing human behavior that is supported by a complex field of driving and restraining forces, (b)changing- moving to learn new behaviors and effectuating required changes, and (c) refreezing an equilibrium to ensure new behaviors. Unfreezing According to Burnes (2004), Lewin believed that the stability of human behavior was based on a quasi-stationary equilibrium supported by a complex field of driving and restraining forces. He argued that the equilibrium needs to be destabilized (unfrozen) before old behavior can be unlearnt and new behavior successfully adopted. Unfreezing is altering the present stable equilibrium which supports existing behaviors and attitudes...
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...1385862 Thanh Nguyen 1385991 Anh Nguyen 1390169 Khoi Pham1385967 An assignment for ECO 3353 - Spring term, Dr. Dominic Minadeo Troy University April 30, 2014 Abstract In 2013, China, the second largest economy in the world, has experienced a banking crisis that had severely consequences on China itself and several other countries. This resulted from a rapidly rise of short-term lending from the shadow banking system, which has been considered an unofficial lending market that operates outside the scope of regulations and has recently been plunged into crisis. This paper synthesizes the overall indexes and information about the ongoing banking crisis in China, which includes: recent China economic analysis, how the crisis impacts on domestic and global economy, comparing China’s banking system to several countries in the world and the forecast for China in the near future. How the crisis took off In today’s globalized world, no country is immune from the financial crisis, even the second largest economy of the world. An increase in risky and complicated financial practices in China can possibly drive the economy to a terrible crisis. The financial crisis resulted from a rapidly rise of short-term lending from the shadow banking system. It was not easy for small and medium enterprises to access to China's formal banking system, unlike large state-owned enterprises. They...
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...supply and lessen the amount of tax paid by the citizens (Andrews, 2009). In 2007, a global financial predicament rapidly metamorphosed from the bursting of the property bubble in the United States to the most horrible recession ever witnessed on the planet. This paper will research on the causes of the 2008-2009 economic predicament and the policies executed by various key people liable for saving the U.S. economy. It will also explain the task, constitutional authority, and the policy view of some current holders of key positions that set policies for saving the U.S. economy. In 2007, a worldwide economic predicament spread its gloom on the financial outcomes of several nations (Simon, 2001). It ended with what was often termed as the worst recession (Simon, 2001). Its source that originated from the sub-prime segment of the United State real estate field as an isolated turmoil matured into a complete recession in 2007. The old well-known fact that the whole world sneezes when the United States seizes flu seemed to be justified (Baker, 2007). This is because vital economies like Japan and nations in the European Union also went...
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...Name: Tutor: Course: Date: World History since 1945 Truman Doctrine The doctrine is named after the then-president Harry Truman. The speech made by the president before Congress in 1947 gave birth to the doctrine. The reason President Truman made the speech was because Britain had announced that they will no longer support the Greek government economically and military wise. Through the doctrine, the government of United States of America (USA) promised to provide political, army and economic aid to all democratic countries under threat from authoritarian powers. It further outlined the change in the USA foreign policy from its usual withdrawal stance from regional conflicts not directly touching on the country, to one of intervention in conflict all over the world. The doctrine also promised to help Turkey and Greece economically and through military actions against the communists this after Britain announced that they would be withdrawing their support. These countries were to receive $400,000,000 aid. The doctrine contents were justified by the need to help free people in their fight against totalitarian rule which would undermine international peace and hence affect the security of the USA (Jones, 36). NSC-68 The National Security Council Paper NSC-68 was a top secret report meant to confront the treat the hostile design of the Soviet Union had on the USA. The report banned the regeneration of US isolationism arguing that it will result in Soviet Union supremacy...
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...Both crucial historical events and profound creations can end up going unnoticed. They may end up ignored while less profound actions and inventions are glorified. Ultimately, the reasoning behind such an occurrence comes down to context; whether or not an event or creation makes an impact depends as much upon the contemporary atmosphere as it does on the thing itself. Thus, when discussing any creation or event that has made a largely unparalleled impact on society and culture, it is important for one to discuss how the atmosphere of the time period enabled this to happen. Similarly, if it maintains popularity throughout generations, one should also consider what recurrent historical changes have enabled this as well as if the original event/creation needed to face any important changes in order to maintain said popularity. Ultimately, the story of the 47 Ronin was able to make such a profound impact on Japanese society and culture because of how much it resonated with people who were longing for and romanticizing a...
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...Executive Summary Brazil is Latin Americas largest economy and since the 1990’s has shown steady economic reforms. These reforms were necessary as Brazil suffered years of hyperinflation as high as 1000% and deficit spending. The government decided to pursue economic policies that changed the Brazilian economy into a dynamic market based system. Some of the key policy changes made were the privatization, of state owned enterprises, deregulation that allowed for greater domestic and foreign competition, perusing regional and multinational free trade agreements and the removal of red tape associated with foreign investment. The mainstay of all these reforms was the Plano Real (Real Plan). This real plan involved the scrapping of the old currency, the cruzeiro and replacing it with a brand new currency the real. The plan was to drive out inflation by adhering to strict monetary policies. The government decided to peg the real to the United States (U.S.) dollar and not allow it to depreciate more than 7.5 % against the US dollar per year. The government also increased the interest rates repeatedly to maintain the value of the real against the dollar. The economic reforms in Brazil were fairly successful, the country saw the inflation rate drop to 2% by 1998 and the economy grew by 3 to 4% annually as well as foreign investment soaring to $ 22 billion in 1998, but not all was well. Brazil was facing a huge trade deficit due to an overvalued real. There were also huge budget deficits...
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...Executive Summary Brazil is Latin Americas largest economy and since the 1990’s has shown steady economic reforms. These reforms were necessary as Brazil suffered years of hyperinflation as high as 1000% and deficit spending. The government decided to pursue economic policies that changed the Brazilian economy into a dynamic market based system. Some of the key policy changes made were the privatization, of state owned enterprises, deregulation that allowed for greater domestic and foreign competition, perusing regional and multinational free trade agreements and the removal of red tape associated with foreign investment. The mainstay of all these reforms was the Plano Real (Real Plan). This real plan involved the scrapping of the old currency, the cruzeiro and replacing it with a brand new currency the real. The plan was to drive out inflation by adhering to strict monetary policies. The government decided to peg the real to the United States (U.S.) dollar and not allow it to depreciate more than 7.5 % against the US dollar per year. The government also increased the interest rates repeatedly to maintain the value of the real against the dollar. The economic reforms in Brazil were fairly successful, the country saw the inflation rate drop to 2% by 1998 and the economy grew by 3 to 4% annually as well as foreign investment soaring to $ 22 billion in 1998, but not all was well. Brazil was facing a huge trade deficit due to an overvalued real. There were also huge budget deficits...
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