...Against the backdrop of the Ukraine crisis and the military airstrikes in Syria, Russian foreign policy is often seen as unpredictable. Not only was Russian action in both cases swift and unexpected, the scope of the response appeared to be disproportionate to the risk posed to Russia’s national interests. Syria and especially Ukraine appear to be inflection points in the trajectory of Russian foreign policy, representing a shift towards a qualitatively new line of policy. The new configuration is already taking shape. With the shock of Ukraine and Syria now over, predictability is beginning to return to Russian policy, as evidenced by the seven trends below. Trend #1 Russian policy on its western borders will be defensive, not offensive. Contrary to the fears and phobias of Eastern Europe, there will be no military steps against the new NATO members. Air, sea and cyber incidents will happen again. But the threat here is escalation resulting from an accidental collision, not a pre-planned operation. Defense spending in line with “Russian aggression” will no doubt please NATO’s top leaders, but the chances of solving any real problems as a result will be close to zero. We are likely to see a local arms race on both sides and periodic flare-ups in the Baltic-Black Sea region. Military activity on either side of the border will be seen as a provocation and an element of “hybrid warfare.” The two sides will mirror each other in that respect. Trend #2 Any attempt by the West to penetrate...
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...Final Project: Crisis in Rwanda Rhonda K. Dasher Walden University FPSY6740-01 Dr. Tracy Mallett November 17, 2013 Abstract The following review is based on the 1994 genocide which occurred in the small sovereign state of Rwanda, with a specific concentration on the rape victims and the consequences of the attacks. The review will describe the crisis intervention approach as well as any legal, ethical, or multicultural considerations concerning the crisis. Followed by an assessment of the impact of the victims as well as the global community will be offered. Furthermore a description of crisis intervention skills and strategies which would be best suited for this particular crisis and the potential for long term effects including risk and resilience factors. The review will conclude with trends or possible research related to the crisis in Rwanda. Crisis in Rwanda President Clinton once stated “each bloodletting hastens the next, and as the value of human life is degraded and violence becomes tolerated, the unimaginable becomes more conceivable” (Goodreads, 2013). On April 7, 1994 madness swept through Rwanda as a mass genocide began, the slaughter of thousands of men, women, and children would continue for the next 100 days. The mass killings were only part of the story of what was occurring in Rwanda, thousands of women and young girls were raped and sexually tortured. For those that survived the consequences of the aftermath were significant, in many cases...
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...International Business, 14e (Daniels et al.) Chapter 10 The Determination of Exchange Rates 1) The primary objective of the International Monetary Fund is to ________. A) encourage euro adoption B) promote exchange rate stability C) establish a unilateral system of payments D) foster the power of the foreign exchange market Answer: B Diff: 2 Learning Outcome: Summarize the roles of the international monetary system and global capital market Skill: Concept Objective: 1 2) The Bretton Woods Agreement established a system of fixed exchange rates under which each IMF member country set a ________. A) quota B) par value C) gold standard D) nominal interest rate Answer: B Diff: 2 Learning Outcome: Summarize the roles of the international monetary system and global capital market Skill: Concept Objective: 1 3) In order to join the IMF, a country must contribute a certain sum of money, called a ________. A) special drawing right B) trade balance C) monetary reserve D) quota Answer: D Diff: 1 Learning Outcome: Summarize the roles of the international monetary system and global capital market Skill: Concept Objective: 1 4) Which of the following best describes the special drawing right? A) an international reserve asset created to supplement members' existing reserve assets B) the official currency for international trade established by the World Bank C) a substitute for the fixed value of gold as determined by currency rates D)...
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...The impact of financial liberalization reform on economic growth: an empirical survey on China Introduction: In the past few decades, financial liberalization would be a main driving force and trend on countries’ financial reform. It aims to eliminate restrictions on financial markets and financial institutions, both domestically and internationally (Financial Liberalization). Thus, as a benefit of financial liberalization, a surge of competition and innovation was awakened in the US and rapid spread to other advanced economies’ financial market between 1970s and 1980s. As a result, banks had become bigger and financial intermediation was cheaper (Anon. 2007). However, an excessive freedom could encourage financial institutions to take unnecessary risks on lending business which would lead to financial crisis. The current great economic recession was caused by a new financial instrument crisis, subprime crisis which started from developed economies which had high level of financial liberalization. Therefore, to some extent, financial liberalization is risky in the process of financial reform. China had conducted its financial reform for more than 30 years. It had benefited from financial liberalization to accelerate capital accumulation. Now, it has the world’s most valuable banks and has the largest foreign exchange reserve. But, in general, Huang et al. (2010) stated that China’s financial reform is still focus long on quantitative growth but short on qualitative growth in...
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...involvement. This paper will explore the different areas, including the role of Central Bank in effecting monetary policy and intervening body in exchange rate trades, Central Bank as a Last Lender Resort (LLR), and Central Bank as a regulatory body of the financial sector. Prior to further discussion, it is important to stress that the role of Central Bank and the scope of its involvement may vary due to the effect of different legislations and the presence of various stakeholders. Thus, US Central Bank does not act as a regulatory body of the financial sector (Driffill et al., 2005), whereas the intervention activity of Japan Central Bank requires the approval of other governmental bodies (Fujiwara, 2005). This paper discusses the importance of Central Bank's publications of economic forecasts and other information related to Central Bank's views of the further state of macroeconomic trends. The discussion shows that this information is highly important for other market players and forecasting agencies as it reduces the information asymmetry. The role of Central bank in macroeconomic stabilization Chandavarkar (1996 cited in Geraats, 2002) claims that macroeconomic stabilization is the pivotal role of the Central Bank. The stabilization duties include such aspects as the stabilization of the domestic price level and exchange rate as well as domestic payment systems. The entry and operations of MNEs on the domestic market as well is the growing interdependence of the domestic...
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...Current Business Research Project Letitia miller RES/341 March 6, 2012 Alexander Odemba Current Business Research Project A response to "Reflections on a global financial crisis" Caprotti, F. (2009), "Financial crisis, activist states and (missed) opportunities", critical perspectives on international business, Vol. 5 No’s 1/2, pp. 78-84. • Define the business research and its purpose This paper seeks to draw out the main themes of the debate on the current financial crisis as published in the special issue of critical perspectives on international business Vol. 5 No’s 1/2 (2009) and place them in the context of subsequent events. It also considers what conclusions can be drawn both for future policy and for the conduct of future academic research. The paper overviews existing literature and summarizes the main findings, focusing particularly on some topics deemed important and interesting for directing future research. The paper finds that while the neoclassical approach to finance has evidently failed there is currently little consensus on how to replace it. This opens up the possibility of debate, new avenues for research and ultimately radical change. The paper argues that more interactions between academic and finance practitioners are needed. Research in finance should be interdisciplinary or embed the insights from other disciplines and it should put behavioral finance under main stream attention. The teaching of management and finance should also be more...
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...Chromosome Number For NUR 3516 Crisis Intervention Professor 07/26/2015 Chromosome Number Four The purpose of this paper is to explore the association of crisis intervention relative to nursing and genetics related to Huntington’s disease (HD). The focus will touch on several different topics associated with pre-emptive testing, pregnancy, educational barriers, strengths, signs and symptoms related to the potential of having an aneuploidy fetus. Also, the importance of time sensitive decisions during pregnancy, social support for potential results, financial resources and hardship related to testing. Additionally, the potential for impaired early on-set compromised cognitive functioning linked to Huntington’s disease. Finally, incorporating the expanded role of the professional nursing scope, practice, and ethical dilemmas associated with Huntington’s disease. Chorea a Brief History Huntington-Chorea was identified in 1872 as a rare inherited disorder secondary to “Chorea” jerky uncontrolled movements (Mandal, 2014). Chorea is Greek in origin and defined as “dancing in unison” (Merck Manual, 2015). 1872 the jerky movements were thought to be divine intervention or demon possession that required a type of exorcism to expel (Jumreornvong, 2015). Additionally, with the evolution of genetics in 1983 according to the US-Venezuela Huntington Disease Collaborative Research Project an approximate location of the gene was identified...
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...nearly 30 years Mulally was made president of the company's Commercial Airplanes division and 3yrs later CEO of that division. – At Boeing, Mulally ran the team that created the company's first all-glass cockpit, with no traditional dials, and implemented a host of other technological advancements. – He was no stranger to pushing the tech envelope – Became president and CEO of Ford, in Sept 2006. 68 years old – 2006 Ford was on the brink of bankruptcy. Posting its the biggest annual loss in its 103-year history—$12.7 billion – When he entered company Ford exhibited the following based on the diagnostic Performance and Behaviour Model o Unattended Environment ( disconnected with industry trends, projections, lacked customer insight o Unclear Direction ( bec. Out of touch with dynamic car industry environment o Fragmented Operational Activities o Dysfunctional Behaviour ( Dysfunctional Work Culture) – His challenge was to find FORD’s competitive advantage (ability to outperform competitors or other organizations that provide similar goods and services) in the continuously changing global information environment....
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...INTRODUCTION: FOREX — the foreign exchange market or currency market or Forex is the market where one currency is traded for another. It is one of the largest markets in the world. Some of the participants in this market are simply seeking to exchange a foreign currency for their own, like multinational corporations which must pay wages and other expenses in different nations than they sell products in. However, a large part of the market is made up of currency traders, who speculate on movements in exchange rates, much like others would speculate on movements of stock prices. Currency traders try to take advantage of even small fluctuations in exchange rates. In the foreign exchange market there is little or no 'inside information'. Exchange rate fluctuations are usually caused by actual monetary flows as well as anticipations on global macroeconomic conditions. Significant news is released publicly so, at least in theory, everyone in the world receives the same news at the same time. Currencies are traded against one another. Each pair of currencies thus constitutes an individual product and is traditionally noted XXX/YYY, where YYY is the ISO 4217 international three-letter code of the currency into which the price of one unit of XXX currency is expressed. For example, INR/USD is the price of the Indian rupees expressed in US dollars, as in Rs 1 = 0.0015 $. Foreign exchange reserves usually stores foreign currency and bonds held by the central banks of nations...
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...Criminal Justice Trends Paper Dwight Blackshire September 9, 2013 CJA/484 Mr. James Herring Criminal Justice Trends Paper New philosophies to aid in the future progress of corrections are being developed as a result of past and current trends. The issues and concerns surrounding the corrections component of the criminal justice system are overcrowded prisons and their decreasing budget. If these issues and concerns are not address, they will continue to affect the effectiveness and future operations of corrections. Restorative and community justice programs are options being considered for the future of corrections as administrators, legislators, and activists debate philosophies to address these issues and concerns resulting from past and current trends. In the past, the national political climate favored the “get tough” approach against crime. It was believed that treatment programs could not reduce recidivism. Furthermore, it was also believed to keep the national crime rate low and protect the public, offenders of crime must be punished to deter crime. As a result, reforms such as truth-in-sentencing and three-strike legislation were implemented into the law. These...
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...rates, that as an overall the JPY has appreciated against USD during this phase. The JPY had appreciated by 57% over these years (average 2002: ¥125.31/$ to average 2011: ¥79.72/$). The paper identifies the significant influence of the movement and concludes how the future trend would be. The details incorporated in this paper was obtained from business magazines, electronic sources, conference papers and journals relating to the foreign exchange, economy and international trade between these countries. Table of Contents Executive Summary ii 1. Introduction 1 2. Period 1-January 2002 – January 2005 a) Economic Climate 2 b) Current Account Balance 3 c) BOJ Intervention 5 3. Period 2-February 2005 – June 2007 a) Monetary Setting - Interest Rate in United States of America 6 b) Carry Trade 7 c) Oil Costs 7 4. Period 3-July 2007 – December 2011 a) Current Account Balance 8 b) Economic Climate 8 c) Carry Trade 9 d) BOJ Intervention 10 e) Natural Disasters 10 5. Conclusion 11...
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...Understanding Financial Crises: Causes, Consequences, and Policy Responses Stijn Claessens, M. Ayhan Kose, Luc Laeven, and Fabián Valencia By now, the tectonic damage left by the global financial crisis of 2007-09 has been well documented. World per capita output, which typically expands by about 2.2 percent annually, contracted by 1.8 percent in 2009, the largest contraction the global economy experienced since World War II. During the crisis, markets around the world experienced colossal disruptions in asset and credit markets, massive erosions of wealth, and unprecedented numbers of bankruptcies. Five years after the crisis began, its lingering effects are still all too visible in advanced countries and emerging markets alike: the global recession left in its wake a worldwide increase of 30 million in the number of people unemployed. These are painful reminders of why there is a need to improve our understanding of financial crises. This book serves this purpose by bringing together a number of innovative studies on the causes and consequences of financial crises and policy responses to them. Although there is a rich literature on financial crises, there has been no publication since the recent financial crisis providing in one place a broad overview of this research and distilling its policy lessons. The book fills this critical gap. It covers a wide range of crises, including banking, balance-of-payments, and sovereign debt crises. It reviews the typical patterns prior to...
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...Introduction What provoked the largest financial crisis since the Great Depression? The answers include a diverse array of immediate and deeper causes in the housing and financial sectors of the U.S. economy. While the recessions initial spark was found in housing, U.S. government policy in addition to careless behavior on the part of both lenders and borrowers, along with poor corporate governance can be linked to the massive subprime loans that ultimately turned into the subprime crisis. Self-interest by subprime lenders and Government Sponsored Entities (Fannie Mae) are also liable for escalating the crisis. Among these factors, here I will mainly discuss three principal causes that have come to my attention; the housing price bubble, poor governmental oversee, and the subprime mortgage-lending boom that it fed. The Housing Bubble: From 1980 to 1997 the real price of housing in the United States had remained relatively stable. After controlling for inflation and differences in house size and quality, we still see that the average price of a home in 1997 was only 2% more than the average price one century earlier. This flat trend had ultimately ended beginning in the late 1990’s and early 2000’s. When the housing prices had peaked in 2006, the average price was close to twice the long-term average price from 1980 to 1997. Only six years later did the price return the long-term trend (Shiller Housing Price Index). The origin of the housing bubble is much similar...
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...1. What caused it? 1. What caused the financial crisis: a. Classic explanation- monetary excesses that lead to booms or busts (housing boom/bust in recent criss ) 2. What caused the monetary excess? a. Evidence that there was monetary excesses before housing boom and bust: Loose fitting monetary policy regarding interest rates- large deviation from the Taylor rule that was shown to have worked in the past, especially during the Great Moderation. b. Reason for deviating from taylor rule: interest rate was low to address the fear of deflation 3. Argument: extra easy policy was responsible for accelerating the housing boom and thereby ultimately leading to the housing bust a. As a result of the unprecedentedly low interest rates, the number of housing starts drastically increased (figure 2). The counter factual line shows what the rate of housing starts would have been if the Taylor line had been followed.. The resulting bust is very easy to see. If this is not evidence enough, the CPI inflation also increased by 60% (3.2% - well above the recommended 2%). 4. Alternative explanations- a. global savings glut (excess of world saving) pushed interest rates down 2002-2004. However, there is no evidence of this b. In actuality there was a savings shortage during this period (figure 3). US was actually running a current account deficit during this period, meaning that saving was less than investment. 5. Monetary policy in other countries a. Global deviations: other...
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...The Evolution of the International Monetary System The Gold Standard Under the classical gold standard, from 1870 to 1914, the international monetary system was largely decentralized and market-based. There was minimal institutional support, apart from the joint commitment of the major economies to maintain the gold price of their currencies. Although the adjustment to external imbalances should, in theory, have been relatively smooth, in practice it was not problem-free.4 Surplus countries did not always abide by the conventions of the system and tried to frustrate the adjustment process by sterilizing gold inflows. Deficit countries found the adjustment even more difficult because of downward wage and price stickiness. Once the shocks were large and persistent enough, the consequences of forfeiting monetary independence and asymmetric adjustment ultimately undermined the system.5 The gold standard did not survive World War I intact. Widespread inflation caused by money-financed war expenditures and major shifts in the composition of global economic power undermined the pre-war gold parities. Crucially, there was no mechanism to coordinate an orderly return to inflation-adjusted exchange rates. When countries, such as the United Kingdom in 1925, tried to return to the gold standard at overvalued parities, they were forced to endure painful deflation of wages and prices in order to restore competitiveness. Though this was always going to be difficult, it proved impossible when...
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