Tuesday, September 15, 2020

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How To Find The Best Essay Writer For Your Essay Or Paper

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Friday, September 11, 2020

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Wednesday, September 2, 2020

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Friday, August 28, 2020

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Wednesday, August 26, 2020

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Tuesday, June 2, 2020

From Watford To Barings Finance Essay - Free Essay Example

Nick Leeson was a working at Morgan Stanley, one of the most successful American banks, where he was on a training course in the Settlements Division for Futures and Options. He was twenty years old, earning 20,000, and he bought his first flat in Watford. He was the model employee at work because nobody knew where he came from and what he did at weekends. The world of futures and options was expanding rapidly, and few people really understood how they worked. Morgan Stanley were one of the players in the market, and they invested a good deal of time in training the back office staff who sorted all the deals out, as well as recruiting the best dealers to go on the trading floor at LIFFE, the London International Financial Futures and Options Exchange. Nick Leeson first worked in the City as a school-leaver aged eighteen, when he joined Coutts Company, bankers to Queen, in 1985. He worked there for two years, settling all the cheques, but never came across one signed by Charles Windsor. In fact, Coutts had all the problems of all High Street bank because his wives running up vast overdrafts without telling Nick Leeson. Nicks work became increasingly boring as he simply pushed piles of cheques around the large office and bundled them up to be filed in some vast warehouse. In June 1987, a friend of Nick Leeson told him about the job at Morgan Stanley, so he went along for the interview and was offered it immediately. He was told that he could either work in Foreign Exchange for settling all the banks foreign exchange dealings, or in the Futures and Options Division for settling rather more complicated deals. He opted for Futures and Options, thereby sealing his own future. As he pushed through all the settlements for the futures and options deals, he began to see the real money was being made by the dealers. He was stuck in the back office, sorting out paperwork, while the dealers who were out there on the trading floor were earning vast salaries and bonuses. His mother had always pushed him higher, and he began to aspire to becoming a trader. At that time the golden boy of trading floor was James Henderson, who had been hired by Morgan Stanley for a big salary and was doing a lot of business. Nick Leeson managed to become his runner to do all the stuff which is too menial to him. Although the salary was only paid around 15,000, it was the first step on the ladder, and Nick did able to see how the dealers really worked. But his boss refused him to go and the job went to someone else. Nick resigned from Morgan Stanley on 16 June 1989 and started his first days work at Baring on 10 July 1989. Baring Bank Baring Bank was founded in the City of London by Sir Francis Baring in 1763. It was the worlds first merchant bank which provides finance and advice for its clients, but will also trade on its own account as a merchant which is taking risks by buying and selling stock, land or coffee like any other trader. Barings soon became internationally because their ideas for financing trade is flexible and innovative. Since it was not a High Street bank, where only thousands of people deposited their funds, Barings had just a small capital base, so it had to live and thrive on its wits. When Nick Leeson arrived in 1989, Barings still operated in exactly the same way. Staffs were now issued with security passes, and there were some green flickering Reuters screens giving instant share prices on every stock market across the world, but Barings principles seemed to have stayed pretty much the same. Nick was told that in 1803 Barings had financed the purchase from France by the fledgling United States of America of the southern State of Louisiana, among others. The cash-flow calculations were all based on cotton prices and the impact of the abolition of bondage. Barings was first choice as financial adviser and banker for governments, large companies and wealthy clients because of its great Jewish rival, Rothschilds. In 1886, Barings sustained Guinness on the London Stock Exchange. This is an issue which proved so popular that cause mounted police had to summoned to stop the crowds from intruding Barings with their application forms. By the turn of the century Barings had become banker to the royal family, and in their time members of the Barings family have received five separate hereditary peerages as rewards for their services to banking. When Nick Leeson joined Barings the senior peer of the family was Lord Ashburton, who was just about to retire as Chairman. He was a great friend of Margaret Thatcher, and left Barings to become Chairman of BP, Britains largest company and one of the twenty largest companies in the world. The other Barings peers who have married across the length and breadth of Debretts include Lord Northbrook, whose ancestor, the first Earl of northbrook, was Governor of India and First Lord of the Admiralty under Gladstone; Lord Revelstoke; Lord Cromer, whose grandfather was Consul of Egypt and whose father was Governor of the Bank of England and British ambassador to Washington during the Nixon years; and finally Lord Howick, whose father was the last colonial Governor of Kenya and who establish the great Baring Charitable Foundation, which ultimately controlled Barings and gave vast sums of money to charity. Nick started off in the same department he did been in at Morgan Stanley, working in the Settlements Division for Futures and Options. He only been there for nine months before he realized his prospects in London was limited. He was tucked away in the division, reporting to a boss who was very senior, and he knew that he would have to wait for ten years to inherit his job. He rapidly became completely bored and asked for transfer. One of the Barings sensational successes in the 1980s was the operation set up by Christopher Heath to trade stocks and shares in Japan. Barings had engraved out a wonderful position there just as the Japanese Stock Market started to boom. Throughout the 1980s Heath was celebrated as the highest-paid banker in Britain, with a salary about 3 million. Nobody knew exactly how much he was earning, but everybody knew that is was a huge amount because it all came from the dealing he was doing in the Far East. Heath started his amazing business at Japan, but there was also going on in Hong Kong, Singapore, Indonesia and all other Asian countries. So Nick Leeson jumped at the chance to go and work in Indonesia, but when he arrived at Jakarta he realized that the realities of Barings overseas operations were very different from their appearance. In Barings glossy literature all about their innovative approach to doing business in the Far East and how they had unique experience and a valuable customer base, but in reality it was actually in a complete mess. The bank didnt even have an office at Jakarta, workers were working out of a room in the Hotel Borubudur. Barings were sitting on 100 million worth of share certificates, which they couldnt pass on to the customers and claims the money because the certificates were in chaos. All of the workers at Barings do not knew how to sort them out. They were stacked up any which way in a basement strong room in the vaults of the Standard Charted and Hong Kong and Shanghai banks. Christopher Heath may have been earning his 3 million, and Barings may have won all the accolades for breaking into the Asian market, but beneath this impressive veneer the reality of Barings was shoddy and inefficient because the bank was sitting on a 100 million hole in their balance sheet. This would have been a disaster for Barings balance sheet. It would have thrown all their ratios awry and severely limited their ability to lend money. This had effectively limiting their ability to act as bankers. Nick Leeson worked in that airless, windowless dungeon for ten months, sorting out the chaos of Barings unclaimed share certificates. The problem Barings had was that they did sold shares to customers, bought in equal number to balance the trade, but then accepted share certificates which did not match. Since the stock market fallen in 1989, the people who had bought the shares were not particularly keen to pay for them. Their main excuse was that the share certificates were either in the wrong denomination, unacceptably tatty or not properly documented. Nick Leeson worked out which trades each bank had done with Barings, found the right certificates, worked out what documentation was needed to go with them, and then walked round to the banks and demanded payment. The Indonesian certificates are all bearer bonds that are equivalent of a blank cheque so they are of value to whoever happens to have them in their hands. He had been in Jakarta for about three months when Barings sent some people to help him out. A beautiful blonde girl, Lisa Sims, was from Kent and this was her first posting overseas. By Christmas 1990, they had reduced Barings exposure in Jakarta to 10 million and when the auditors agreed that Barings need not make any provision in its balance sheet for this liability. The 100 million hole which had been stuck in the bank vaults could now be wiped off the computer. Nick Leeson returned to London in March 1991 and from then on was seen as the settlements expert in futures and options. Throughout 1991, he travelled on Barings expense account looking at their fledgling operations in Europe and the Far East. He accompanied the Development Officer, Tony Dickel, around the world as Barings looked to exploit new opportunities. They visited Frankfurt, where they suggested that Barings should expand their office to plug into the growing European business then Hong Kong and Manila, and late in the year they went to have a look at Singapore operation. Barings had acquired a seat on the Singapore International Monetary Exchange SIMEX but had not activated it. The Barings subsidiary had an office staff around seventy and they did all the usual things like buying and selling Singaporean shares, researching the local markets and offering fund management and banking facilities but they had no ability to deal in futures. Barings lost the opportunity to charge commission because any requests which came to them to buy or sell futures or options had to be brokered through another trader. Tony Dickel and Nick Leeson advised Barings that they should activate the trading seat and staff up in order to take advantage of the growing business there. Tony Dickel and Nick Leeson discussed the Singapore operation throughout January and February 1992. He spoke to James Bax, Regional Manager of Barings South Asia, who had heard of Nick Leesons success in Jakarta. They wanted him to set the operation up and run it. Nick Leeson was the General Manager who recruits traders and back office staff and make money. Lisa and Nick Leeson were thrilled. The news of their transfer to Singapore came through in March, ten days before their wedding. Singapore Nick Leeson had been working is various back offices for almost six years, pushing paper money around, sorting out other peoples problems. In Singapore, he could work with instant money. George Seow was the first trader he recruited. They were a new team and were watching the September futures contracts on the Nikkei index, which is calculated from the fluctuating value of an underlying basket of shares. Futures contracts enables people to buy or sell this basket of shares at a given price in the future, typically anchored around four dates which is the ends of March, June, September and December. Given the uncertainty of future prices, the value can move around wildly as people take different view about how the Nikkei share index itself might trade. The futures contracts and the index move in broadly similar lines, but the time gap and the leverage in the futures market means that the futures are far more volatile than the share itself. Nick Leeson and Fernando had just set up shop in SIMEX and Nick Leeson had no authority to trade himself. He was just there to fill Fernandos orders from Tokyo. He would take his orders down the phone, signal them to George, and tell Fernando whether they had completed them. The deals were very simple. They are doing something called arbitraging. Fernando would watch the futures contracts in Osaka, centre for Nikkei futures trading, and Nick Leeson would tell him every two seconds what was going on in Singapore. Sometimes a local trader would be buying in one market without the ability to trade in the other, and he might have to fill an order which pushed up the whole market price in SIMEX. For a few seconds a difference would open up between the Osaka and Singapore prices. Traders position is called long if they have bought in the hope that prices will rise, enabling traders to sell at a profit later on. Similarly, being short usually means that traders have sold in the expectation of a price fall, which will enable to buy back at a cheaper price. Many traders have set limits on the profit or loss they can take during a day. If the market moves a certain distance from their entry price then they might reach this limit and be forced to sell to cut their losses. This is called a stop loss. By low-ticking someone, Nick Leeson was going to give a new price to the market and push it in a new direction. He was trying to flush out the market to see if there was a stop-loss seller, since as soon as his offer was made in the pit and put up on the screen, the market would see it and it might trigger just such a sale. SIMEX is a much smaller market than Osaka, so sometimes a local dealer who only has authority to trade SIMEX will push the Nikkei index around the SIMEX pit, and the same contracts might have different prices in SIMEX to those quoted on the Osaka exchange in Japan. SIMEX is also a proper market, in the sense that everything is only involves real buyers and real sellers. In Osaka, bids and offers are put on screens and the market moves in a different way. Traders can put all sorts of bids and offers on the screen which change the way dealers think the market might move. The dealers in SIMEX could see the latest prices in Osaka but they could not see the size of the orders. But Nick Leeson could put up prices in Osaka, which made it look as if the market was moving in one direction, and then do the opposite in SIMEX, where there was a real market operating in real time with real buyers and sellers. Arbitraging futures and options is a low risk business. The only real risk is in the split seconds it takes for Fernando to tell Nick Leeson what he wants to do and for Nick to tell George and for George to do it. This is a real risk, however, since somebody else might be doing exactly the same and get there first. It was a frantic work, and the profit margins were small. Nick Leeson wan ted to move into proprietary trading which is make own decision about when to buy and sell, but for the first year he was content to be an order filler for Fernando in Tokyo and their Singapore clients. Nick Leeson did hired two trades which is George Seow and Maslan Tuladi to operate on the floor. While Eric Chang will help him on the telephone, and Risselle Sng and Norhaslinda ( Linda ) Hassan to handle the settlements in the back office. Since Nick Leeson had not taken the exam at that time, he had no authority to trade on the SIMEX floor itself. Throughout 1992 the customers rolled in. When Nick Leeson first arrived in Singapore, SIMEX was only doing a daily total of some 4,000 trades. It was a tiny exchange. Most of the big dealers dealt the Nikkei in Osaka because they could buy and sell in size. Then, during the summer of 1992, just as he was getting going, an amazing surge in business happened. Osaka imposed various stringent regulations on the futures and options dealers which are they had to pay much higher deposits when they dealt and there was no interest earned on the deposits. The interest was just pocketed by the Osaka authorities. A minimum commission was also stipulated. The Osaka authorities made a bad misjudgment that within weeks the trade started to move in Singapore. Between 8:00 in the morning until 2:15 in the afternoon, the number of contracts traded rose from 4,000 a day to over 20,000 a day, and Nick Leeson was taking his share of the orders without stopping, flashing them to George or Maslan, and then picking up the next call almost before they had gone into the pit. In any dealing system there are errors which are someone misunderstands a hand signal and buys the wrong amount , or buys at the wrong price, or thinks they have discretion when they do not, or buys the March contract rather than the September one, or even buys rather than sells. If this happens, the bank has to take the loss. The customer has bought or sold in good faith, and will have gone on to trade on the back of the first deal. If it was dealers mistake, they had to try and rectify it. If there was nothing to be done, the error was booked into separate computer account known as the Error Account, the position closed off and the resulting loss will written off against the firms profit. When they started dealing and they had an Error Account numbered 99905, into which they dumped all the errors before they were transferred over to London. Error Account 88888 became dormant almost as soon as it had been created. But it was still lodged in the computer, it had still been created as a bona fide error account, and not much later Nick Leeson dug it out of his memory and out of the computer. On 17 July, Nick Leeson works with his just recruited worker, Kim Wong. Kim Wong make a mistake that makes Nick Leeson could not see the balancing purchase when he confronted the piles of trading slips. Kim Wong make a mistake by contravention of customers orders, she had sold rather than bought the twenty contracts. The client would expect to have bought these contracts, and they would have to make them good to him. Since the market price had risen throughout the afternoon, Barings had sold well below the market level. In fact, if they had to make the client good and also reserve the wrong deal which Kim had gone on the exchange, they would have to buy back the forty contracts and lose 20,000 doing so. It all the Simon Jones and Mike Killians fault in Tokyo because they wanted to keep the costs down and Simon Jones had hired this girl on a salary of 4,000 a year. Nick Leeson booked a fictitious trade to the customer, Fuji Bank, for the twenty contracts they had bought. To do this, he made a notation on the daily trade sheet that Fuji needed to be made good for the twenty Nikkei contracts at the price they had specified. From the daily trade sheet, this trade would be booked in the computer in the normal course of business, so when Risselle keyed in the trade it would reconcile with the daily trade sheet. However, if it was left at there, it would obviously cause a problem since they had not actually done the trade in question, so Nick Leeson had to book the opposite reconciling part of that trade. He asked Risselle to enter a sale of twenty contracts into the computer as well, booked to Error Account 88888. The position after Kims mistake was that Fuji had sold twenty Nikkei contracts. The position after Nick Leeson entries to the daily trade sheet was that history had been rewritten because Fuji had now fictitiously bought twenty contracts at the original price they wanted and Error Account 88888 had sold the same twenty contracts at the same price to balance that, and the real sale of the contracts which Kim had done was booked to 88888 as well. Thus,

Wednesday, May 6, 2020

Immigrant short story Essay - 1275 Words

nbsp;nbsp;nbsp;nbsp;nbsp;It started like any other day up on the hills of Rhein, but that day had the scent of freedom floating in the air. The journey ahead of me had been teasing me for weeks, I was just so anxious to get away and start all over again. I had made certain arrangements before I left, our family dog was not allowed on the ship that we were going to be arriving in America, so I had my parents take care of the dog for us. It was a hard thing to do seeing that the dog had become more than just a pet to the children and I, for we almost would recognize him as a family member. Most of our possessions we were able to keep with us, but we had to keep the load light since it was going to be a tight stay in the steerage. I†¦show more content†¦The humidity and stench were overwhelming, but I kept thinking and reminding the children that it was going to be all worth it. I had only seen a few familiar faces, but most of them I had never seen before in my life. Before th e first night ended, Maribel and the children had made a few friends on the ship. It was a good way to make the voyage go by faster, for when they were at play everything seemed to go faster. nbsp;nbsp;nbsp;nbsp;nbsp;There was a rumor rolling from ear to ear that we were soon going to be arriving. How soon? I wasn’t sure, but I decided to tidy the children up and start to repack everything. After waiting for about an hour, I heard a faint ding run down the hall way. The ship was suddenly in celebration for we had finally arrived to the end of our long journey, America! The hallways began to flood with rushing foot steps and people were shoving each other to get the first breathe of â€Å"American Air.† I held the children close to me as we winded up the many flights of stairs. My heart beat was increasing at each step I took, for it was such a thrill. It was a great joy to watch the little one’s expressions as they too were as excited as I was. 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Tuesday, May 5, 2020

Compare and contrast mongol rule free essay sample

During the 12th and 13th centuries the Mongols swept across Eurasia and conquered various peoples, including the Persians and Chinese. There are many slmllarltles and differences In the political and economic effects of Mongol rule on the Abbasid Empire In Persia and on the Yuan Dynasty In china. In both regions, the Mongols were relatively tolerant of all religions. However, they differed in that the Mongols allowed Persia to have native administrators but did not allow China to. When the Mongols ruled in Persia and China, they respected all the religions they encountered. In Persia, the Mongols were attracted to Islam and overtime they ssimilated to it. The Mongols were intrigued by Muslim society and by the year 1295, the Persian khanate had converted to Islam. They built mosques throughout the region and returned Islam toa privileged position of Persian society. The Mongols were also tolerant of the other religions in Persia including. We will write a custom essay sample on Compare and contrast mongol rule or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Nestorian Christianity, Buddhism and Judaism. In China as well, the Mongols respected all cultural and religious traditions. They began to adopt some of Chinese culture, like ancestor worship. Khubilai Khan even built temples for his predecessors, so he could practice ancestor worship. The Mongols tolerated religions and belief systems such as, Confucianism, Daoism, Buddhism and Christianity. They allowed churches, temples and shrines to be built, because they wanted to maintain a good relationship with the people ot the region. Although the Mongols tolerated Confucianism, they did not allow It to have official support. The Mongols effects on rellglon In Persia and china were quite similar. The Mongols ways of governing In Persia differed from how they governed In China. In Persia, the Mongols ruled using ideas from Persian bureaucracy. They set up many district and appointed provincial governors. The highest government positions were held by Mongols, but Persians were allowed to be government offcers at lower levels. Persians served as state officials, ministers and provincial governors. The Mongols allowed the Persians to govern the ilkhanate because they knew the Persians had a successful government and would be able to maintain order. However, the Mongols required the Persians to deliver tax receipts as a way of limiting Persian power. The Mongols set up government in China very differently than they had in Persia. The Mongols pushed native Chinese people to the bottom of the hierarchy. The Mongols got rid of Civil Service Exams because they thought there was no need for them. They did not make use of Chinese administrative talent; instead they had foreign administrators govern China. The governing staff included Persians, Arabs and some Europeans. The Mongols didnt want Chinese people to rule because all they wanted from China was to generate revenue and have the people be cultivators. The Mongols governed and treated the Chinese and Persian people very differently. The Mongols political and economic control on Persia and China were alike In some ways and unalike in others. The treatment and tolerance of religions in China ere very similar to that In Persia. Yet, the administrative control in Persia differed than the administrative control In China. The Mongols had multiple methods of ruling conquered regions, none 0T wnlcn were very successTul. However, tnrougnout the Mongols rule, they facilitated trade and encouraged long distance communication throughout Eurasia, which led to cultural diffusion that can still be seen today. Additionally, the Mongols support of Islam helped establish its popularity and encouraged its spread, which has contributed to Islam being the fastest growing and second largest religion.

Saturday, April 18, 2020

Picture Of Memories Essays - Chairs, Ergonomics, Recliner, Smile

Picture Of Memories Picture of Memories Everyone has that certain picture hanging on the wall that brings back memories. The picture on my wall that brings the most memories is of my great grandmother. The picture is of my grandmother Lois who is 92 on Christmas day, in her favorite recliner. In the picturing she shows no sign of her age, the recliner that she loves, and her friendly smile which spreads joy throughout the family. My grandmother is 92 years old and still in really good physical condition. In this picture her face looks as smooth as silk like there is no wrinkles. Her white hair never looked whiter as she sits resting in her chair. When I look at the picture Stars glistening in the night sky is what first comes to mind when I see my grandmas blue eyes sparkling. It makes her look nothing like her age. The Picture also shows my grandmas favorite recliner. The recliner was bought by all of the family as a gift. It a big soft lazy-boy. When you sit in this chair you just instantly become comfortable and feel like falling asleep. The big plush cushions make it really soft and relaxing. When you sit in it you feel like your sitting in a dove filled bed. My grandma says it helps her back and just gives her somewhere to sit comfortably. She says its the best gift she has every received and will cherish it always. Finally in the picture my grandmother is showing her warming smile. She has always had the sweetest smile, which would make you feel all warm inside. It was one of those things you could depend on; was that when you saw my grandmas smile you would cheer up no matter how bad of a day you were having. However if you did something wrong her smile would turn to a stern face and you knew she was serious. But my grandmother was mostly smiling and that made the family happy because we know shes in good spirits then. They say pictures are worth a thousand words and its the truth. Pictures capture memories that will last you a lifetime. Without pictures people couldnt look back on moments like I get to when I look at the picture of my grandmother on the wall. Everyone in life should take pictures and save them to look at forever, because you never know when you might get that Kodak moment again. Creative Writing

Saturday, March 14, 2020

Family Planning in China Essay Example

Family Planning in China Essay Example Family Planning in China Essay Family Planning in China Essay Some people see the policy as too harsh and that It Infringes on the peoples rights, but many Chinese feel that it is fair and even if they were allowed to have as many children as they anted, they would still choose only to have one (Levin). In this paper I will write about the many advantages of family planning, such as: the population control, the policy is gradually eradicating poverty, increased benefits for men and women, and it helped accelerate modernization; I will also discuss the problems that the Chinese government faced as the policy went In effect, for example: a demographic and sex imbalance, a decreased fertility rate, female infanticide, and an increasing amount of elderly compared to youth, or the 4-2-1 problem. Since the policy has first been introduced, Chinese officials have lightened the rules and now many of the problems have diminished. Chinas population-control policy was introduced in 1979 and restricts couples in urban areas to only one child. In rural areas, families are allowed to have two children If the first Is a girl. Other exceptions Include ethnic minorities and couples who both lack siblings themselves . The policy has meant that about one- third of Chinas 1. 3 billion citizens cannot have a second child without incurring a fine (Advisory). : The first reason that family planning has been beneficial, is that the population has been controlled; while it is still growing (China is home to almost 15th of the population), the birth rate has dropped significantly (Family). The Chinese government stated that since the late sass, family planning has reduced births per year by roughly 400 million (Enders). The policy has also been beneficial in that chinas fertility rate had fallen from 5. 8 births per woman In 1970 to 2. 8 births per woman in 1980, and now 1. 5 births per woman in 2014 (Enders). This has improved Chinas overpopulation by lowering population growth by around 24% since 2001 Population), compared to the rising population growth in the United States, which raised two percent since 2001 (Population). This shows that Chinas family planning policy has been successful In the way of controlling Its population and decreasing the birth rate by preventing women to have only one or two children. Another point In which family planning is helpful, is that it is eradicating poverty. Raising a child in China cost roughly 25,000 Yuan, or 4,030 U. S dollars, this is the equivalent of an average Chinese parents yearly income. By implementing the family planning policy, arenas are less burdened by any financial hardships that would come with a second or third child. Having fewer, healthier children can reduce the economic burden on poor families and allow them to Invest more In each childs care and consoling, knelling to Dread ten cycle AT pope A A study Day a Tamely planning organization showed that families living in villages with expanded family planning services had lower fertility and had prospered much more than families in villages with routine health services, where fertility remained higher. The smaller families had higher incomes and more savings. Youth in the lower-fertility villages had also completed more education, key for earning higher incomes as adults. This being said, Chinas one child policy has helped rural towns become less dragged down in the economic challenges faced with having several children (Kent). A third reason that this policy is successful is that it gives Chinese families more benefits. A woman can receive paid pregnancy leave for up to three years, couples can get a five to ten percent salary increase, the entire family is given free health care, the childs education is paid for, the family is placed in preferential housing, and the couple chives higher retirement pensions (Bluest 2). In addition to these benefits, rule- abiding parents can get a monthly stipend, preferential hospital treatment, first choice for government Jobs, extra land allowances and, in some case, free homes and a ton of free water a month (Watts). The Chinese government has even gone to the extent of giving the children of citizens who conform to the policy extra points on their middle school entrance exams (Kent). Many families choose to have only one child for many reasons, and the benefits received from having only one, can make the arenas decision. The fourth and final reason that family planning in China is beneficial is that it helped to accelerate modernization. Since there is a high price on education in China that many families cannot afford, many women and children are illiterate, so by limiting the number of kids that a family can have, and by earning the benefits from doing so, womens literacy rate has increased by almost 40 percent since the policy has been in effect (Literacy). With this increased literacy rate, there has been more room for new innovations and ideas to surface; this also results in omen having more Job opportunities and climbing higher in their Job positions, such as more female Coos. Some people feel like family planning in China is destructive and hurts more people than is worth it. Some of the issues of this policy include a demographic and sex imbalance, a decreased fertility rate, female infanticide, and the 4-2-1 problem. The first problem that the Chinese government faced was a demographic and sex imbalance. Many more baby boys are born in China than baby girls. China is not unique in this; other countries, notably India, have encountered similar problems without coercive population controls. But Chinese officials do not dispute that the one-child policy has played a role. Chinas strong cultural imperative for male offspring has led many families to do whatever they must to ensure that their one permissible child is a son. In the earliest days of the one-child policy, this sometimes meant female infanticide. As ultrasound technology spread, sex-selective abortions became widespread. The new census data show that little progress is being made to counter this trend. There were more than 118 boys for every 100 girls in 2010. This marks a slight increase over the 2000 level, and implies that, in about 20 or 25 years time, there will not be enough brides for almost a fifth of todays boys (Census). The second problem is the decreased fertility in women. In past years Chinese women were expected to have around 5. 8 children per person; Chinas fertility rate has fallen to an estimated 1. 5 children per couple, in line welt ten European average out Dwell ten 2 1 Tanat malignant a constant population and is more normal for a country at Chinas stage of development (Enders). With China ageing quickly, a higher birth rate is needed to underpin long-term social and economic stability. In the past, the state used harsh methods to stop its citizens having babies. In the future, it will have to find clever ways to encourage people to have them. Other countries, not least neighboring Japan, have struggled with that (UNAPT). Another issue, that is perhaps the biggest of them all, is the issue of female infanticide. This problem is also related to the sex imbalance. The Chinese government began to modify the policy in the mid-sass, allowing a second child in families whose first child was either a girl or disabled. This pairing of girl and disabled is hardly an accident. Masculinity is the crux of Chinese society sons not only carry on the family line, they also are expected to provide for their parents in old age. A daughter, once she marries, is obligated only to her husbands family. In other words, parents cannot rely on a daughter to help them in their old age. This dynamic combined with a one-child policy plus the kind of harsh economic realities often found in rural Chinese villages does not engender much love for daughters. The social message: Survival depends on sons, and daughters are only a burden. Given the ability to know the sex of their unborn children, many parents aborted female à ©tudes. Sadly, such abortions do not account for all of the missing girls in China. In Pearl S. Bucks The Good Earth, there is a scene where a Chinese father hears the first cry of his second daughter, followed by silence; sitting in another room unable to see what has happened, he nevertheless realizes his wife has killed their newborn girl. This may be fiction, but it is based on Chinas long history of infanticide. Trench H. Hull, a demographer and epidemiologist at the Australian National University, writes in his study, Recent Trends in Sex Ratios at Birth in China, Two centuries ago the reactive of exposing female infants to the elements was conducted openly, and missionaries recorded that thousands of such infants were abandoned in the streets of Beijing to be collected regularly by carriers who placed them in a large common grave outside the city. Between 1851 and 1948, about 5 percent of female babies were killed in this way (Cutis). Although female infanticide is rare these days, the intentional elimination of female offspring may still be occurring in a more insidious fashion: through slow starvation, ongoing neglect of sick girls or even complete abandonment (Cutis). Infanticide in itself is a huge problem; this ultimately leads to many of the other problems we see. The 4-2-1 problem surrounding the one-child policy means that only children will have to bear the responsibility of supporting both of their parents and, sometimes, all four of their grandparents in their old age, as they cannot rely on siblings to help them care for their aging family. Not Just in China, but worldwide, due to technological advancements and improved healthcare, people are living longer and therefore the size of the aging population is growing Advisory). The size of Chinas population aged sixty and above will grow by 100 million in Just 15 years (Wang). This augmentation in the number of elderly people will lead to an increasing demand for services and expenditures related to health care, the costs of which will fall upon Chinas only children (Wang). With one child providing for six other people in addition to him or her and their families, the financial burden will be demanding. The one-child policy has created a situation in Canaan In wanly tanner are too Tee young people to support a growing, aging population. Another problem created by the policy is that if an only child dies before his or her parents and grandparents, there will be no one to support them in their old age. The chance that an eighty year old Chinese man will outlive his 55-year-old son is 6%, and the likelihood an eighty year old woman will outlive her 55-year-old son is 17%, as women live longer (Wang). Without a child to support them in their old age, parents and grandparents will have fewer resources to pay for expenditures like health care. Many people feel that the one-child policy is challenged in principle ND in practice for violating a human right to determine the size of ones own family. According to a 1968 proclamation of the International Conference on Human Rights, Parents have a basic human right to determine freely and responsibly the number and the spacing of their children. In 2002, China outlawed the use of physical force to make a woman submit to an abortion or sterilization, but it is not entirely enforced. In the execution of the policy, many local governments still demand abortions if the pregnancy violates local regulations, or even force abortions on women violating the policy. Another problem with this policy is that Since the policy has first been implemented, China has decided to ease the policy, making several reforms. China announced the relaxation of the one-child policy in November of last year: if at least one of two parents is a single child, the couple may have two children. Provinces began implementing the new rule only in January this year (Chaw). About 270,000 couples applied for permission to have second children by the end of May, and 240,000 received it, according to the national family-planning commission. Since the Chinese government was fearful of a baby boom that would overwhelm hospitals and, eventually, schools, they have made the application process difficult. In the eastern city of Jinn, for instance, would-be parents must provide seven different documents, including statements from employers certifying their marital status. With 11 million couples suddenly eligible to have second children, some caution over easing policy may be understandable. As the process is simplified, more parents will choose to go through it. Analysts expect additional new births to rise toward 1 million a year over the next decade or so (Gogh). That is on top of todays average of 16 million births a year (Gogh). This change should help solve the problems faced now, such as the fertility crisis and the 4-2-1 problem. The one-child policy has ultimately been successful. It was necessary due to the fact that Chinas population was so rapidly growing and that the resources were being used up so quickly. The policy has helped slow the population growth rate, eradicate poverty in rural towns, given men and women alike increased benefits in health care, and helped to accelerate modernization by increasing womens literacy and introducing new Job opportunities. Some may say that this policy is detrimental and that it has only hurt China by adding a demographic and sex imbalance of more males than females, introducing a decreased fertility rate, creating increased female infanticide, and also introducing the 4-2-1 problem. Since the Chinese arent very big on religion, they have no religious conflict over the policy. Many families in China have expressed the notion that even though they are only technically allowed to have one child, they wouldnt want another one because of the responsibilities and debt that come with a second child. Children use up a lot of time and resources; the Chinese feel less Durance Day navels only one canny take up tenet attention. In a CNN article two women speak about the abortions the family planning policy implements, Its a rather common occurrence, [like eating] an ordinary kind of food. Theres nothing worth talking about and Its a very natural thing, like eating and drinking. Its not against the law. And its quite safe to have [an abortion. ]. Like these women, many other women feel that family planning is Just another law, and not a big deal. So why make it one? If these women are happy and dont feel like their rights are being infringed upon, who are we to tell them how to behave and feel?

Thursday, February 27, 2020

Spiritual Needs Research Paper Example | Topics and Well Written Essays - 250 words

Spiritual Needs - Research Paper Example He is a Protestant and has attended services with wife and children, but his ailment prevents regular churchgoing. He is aware of religious differences but there is one God for all whom we can pray to. He believes in the power of prayer, although he is not pious or prayerful. At the moment he finds his family as a source of calmness and strength. Of course, God is unseen and in most times not felt. Visit from a Protestant chaplain will be acceptable. The tool worked well, allowing free flow of information and questions. Care was taken to make the interview friendly and casual, and information gathered can serve appropriate spiritual intervention during treatment. As a recommendation, the instrument should preferably be administered by a nurse, opening way for visits by a minister of choice. We understand JCAS wants the instrument administered by chaplains, but religious affiliation can create hindrance in case a patient, in our study a Protestant, is interviewed by a Catholic chaplai n.

Monday, February 10, 2020

Paraphrasing Essay Example | Topics and Well Written Essays - 500 words - 4

Paraphrasing - Essay Example This course changed my belief immensely and I have also found out why they acted the way they did during the rule of Nazi and eventually under Adolf Hitler. I came to know how propaganda was used within the said time in an effective manner by Hitler and Nazi to get as much support from masses as possible. I also came to know that Hitler was loved by people since they believed in his passion and desire to do something for them (Gutsman, 1990.p.132). They were of the view that his undertakings were for the sake of the people at large. In essence, I would like to fathom that I learned a great deal about nationalism within this course which is something that gives me immense heart as my learning domains have increased over a period of time. This is something that I see as my learning during the length of this course. I have learned quite a few new things about Germans and the country that all of us know by the name of Germany. My insights have banked on the realization that any enlightened society can become horrible if bias, prejudice and racist slurs creep in. Same is the case with Germany and its people. It has been haunting them to this day and has set a negative mindset all round within the world. I do not consider myself as an exception to this rule. Moreover, I have learned that manipulations within cultural values and settings do take place, and it is imperative that people are given the chance to observe both sides of a story before reaching a conclusion. My case is no different because I learned that Germans have been misunderstood and that they need to be given their relevant time and space to showcase their true selves. I also acquired that nationalism is an important manifestation which one needs to have b ecause it defines who he is and what he can learn about a distinct set of people. In the end, I would like to recollect that

Friday, January 31, 2020

Economical and Environmental Cost-Benefit Analysis on Hybrid Cars Essay Example for Free

Economical and Environmental Cost-Benefit Analysis on Hybrid Cars Essay A hybrid car is a car propelled by the application of two or more power sources. First attempts to introduce hybrid cars goes back to mid 1660, way before the discovery and introduction of the fuel powered conventional cars but were never commercially manufactured until 21st century when Japanese car manufacturer, Toyota produced the Toyota prius exclusively for its domestic market. In fact, it is estimated that the first attempt to produce a hybrid car was in 1665. The delay in the production of this class of vehicles was because of two main reasons; first, the limited range in the distance the vehicles could cover and secondly the difficulty and costly process of recharging their batteries. Furthermore, it is a basic science concept that the more complex a machine is the more it is prone to failure and thus the idea of commercial production of hybrid vehicles has been a slow process over the centuries. World’s population explosion, demand for fresh air and green cities, dwindling petroleum deposits, over dependency in overseas oil, economic recession and global warming are just some of the environmental and economic factors that have forced world’s leading car manufacturers to provide to the market car models that are not only environmentally friendly but also cost effective. A cost-benefit analysis on this topic will attempt to bring out the cost of getting a hybrid car into the road in comparison to the benefits that the world stands to reap as a result of this venture. This research seeks to bring to the surface three major aspects that are associated with the introduction of hybrid cars into the transportation world. These three issues are: (i) The cost of producing a hybrid car: The successful landing of a hybrid car is in focus under this area. It is not easy to get into the road a car that makes use of a combination of two or more sources of energy. The research involved is estimated to run to millions of dollars thus sky-rocketing the price of a hybrid car. (ii) Environmental factors: Environmental factors simply refer to the concerns that a particular type of car produces substances that injure our surroundings thus making life on earth more dangerous and therefore more complex. These substances include green house gases as well as toxic metal compounds such as the ones that contain lead in their structure. (iii) Economic cost benefit factors: Economic factors have much to do with the living standards of people as far as the generation and investment of money is concerned. The economic make up of the world has gotten pegged heavily on oil and there are concerns from every right thinking citizen of the world that this is a self consuming trend that is likely to create serious economic problems if the oil industry hits a serious problem. This has already been witnessed before whereby a slight rise in oil prices has sent shockwaves in economies in both the developed and the developing world. Literature Review The former Vice President of the United States who later won the Democratic Party nomination and lost the presidency in a controversial manner to George W Bush, Mr. Al Gore, has had the world rethinking its actions as far as the degeneration of the environment is concerned. An inconvenient Truth, a film he worked on captures the problems that are already being experienced in various parts of the world as a result of global warming. This, he says is being fuelled by the use of environmentally unfriendly cars that use oil or gasoline (Gore, 2006, para1-3). It is not surprising that he went a head to win a Nobel Prize for this peace of work. Electric and hybrid cars have always received much appreciation due to the perceived ability to tackle this burning issue of climate change. Their ability to cut the emission of these toxic substances into the atmosphere that lead to negative climatic shift is the major reason for this (Anderson and Anderson, 2004, pp 6-10). In recognition of this serious problem, vital steps have been made in the research that is involved in the development and production of cars that make use of a combination of two or three sources of locomotive energy. Chief among these is the research into electric cars that promise to reduce the overreliance on oil (Westbrook, 2001, pp 34-39). The pioneer nation in the world in the research and possible mass production of hybrid cars is Japan. But the appetite with which the United States of America has picked up the issue points to the significance of this type of car. The driving force is the reduction in pollution, the saving that comes in terms of finances and most importantly national security that is put at risk with too much dependency on foreign oil. The argument is often projected in terms of supplying their dollars to nations that fund terror groups such as al Qaeda (Boschert, 2006 pp 2-7). It is common knowledge that mass production of hybrid cars will not only provide a partial solution to world environmental problems but also be a practical measure to save countries from losses running to millions of dollars due to escalating prices of world crude oil. The cost of producing a hybrid car The production of hybrid cars is not a cheap or a simple venture. Confessions by companies that have dipped their fingers into this hot pot have clearly shown that more than just simple technology is in play in the production of this type of cars. Research that has been on-going for a long time now is very complicated and has consumed millions of dollars. At the end of the day, despite the hyped advantages of shifting from purely oil consuming cars to hybrid cars, the cost that must be borne has to be high (Westbrook,2001,pp 56-61). It is the overall ability of the hybrid car to assist man in solving most of his economic and environmental problems that make the whole exercise worthwhile. Environmental factors While scientists agree that there can never be perfect environmentally friendly hybrid cars and that this depends solely on the design and model of hybrid power system. It is worthy appreciating that the use of this class of vehicles will automatically lead to the reduction of global warming by approximately 0. 3 to 0. 5 percent and that more advanced models and designs in the coming years due to technological advances would reduce this figure even further. The problems of the quality of urban air, reduction of noise due to application of electric motor in fuel power conventional cars, and elimination of smog forming pollutants could be solved in a century if research on mass production of hybrid cars is given a priority. The main source of air pollutants in cities and major towns is transportation. Fuel powered conventional motor vehicles produce much higher levels of carbon dioxide (Co2) carbon monoxide (Co), nitrogen oxides (Nox) and hydrocarbons (Hc) and this from the primary source of these dangerous pollutants. This is mainly because fuel powered conventional cars (FPCC) make short trips that do not give time for electric motor warm ups and cold starts. It is noted that hybrid cars reduced the levels of the carbon monoxide, hydrocarbons and carbon dioxide by 97% in comparison to other sources of these pollutants. Carbon monoxide (C0), when inhaled for long periods interferes with the proper functioning of the brain in that it impairs the flow of oxygen (O2) into the brain. Once the brain stops working in the expected way, the person involved turns into a vegetable. Carbon dioxide and water vapor form the principal components of green house gases that bring about the green house effect. Green house effect is a scenario in which too much heat is trapped within the atmosphere due to the presence of such toxic gases as carbon monoxide and this resultant effect is a highly raised earth temperature. Infact carbon dioxide (C02) is considered one of the major atmospheric pollutants, and is solely responsible for approximately 57% global warming. Negative effects of global warming include the rapidly declining numbers of polar bears and melting of ice in the tropics. It is therefore an open knowledge that releasing carbon dioxide (C02) into the atmosphere is detrimental to the lives of living organisms and the equilibrium of the ecosystem. Sulphur and chlorofluorocarbons (CFCs) are very dangerous air pollutants produced by combustion of sulphur containing fuels. Over the years, scientists have devised means of producing sulphur and lead free fuels but achieving an excellent degree is still a distant mirage. Deposition of these compounds in the air is harmful to plants, man and infrastructure. Exposure to high concentration of sulphur dioxide irritates respiratory tracts making breathing difficult and can easily cause lung problems. Sulfur Oxide contributes to respiratory illness. Patients suffering from heart diseases risk aggravating their conditions if exposed to even mild concentration of sulfur oxides. These components also form secondary pollutants when transported and combined with other elements forming sulphates, nitrate salts, nitrogen dioxides and even nitric acid vapor. This is what is commonly known as acid rain that corrodes buildings, burns vegetations, burns the human skin and destroys infrastructure. Chlorofluorocarbons also form component of green house gases that bring about the effect of global warming. When exposed to gamma rays, these compounds break down to release chlorine atoms. The presence of chlorine atoms in the atmosphere catalyses splitting of Ozone (O3) into oxygen gas (O2), however the negative effects of their presence overweigh their importance. Photochemical air pollution, usually known as smog and is commonly sported in the tropics and subtropics is also caused by incomplete combustion of gasoline emitted by fuel powered conventional vehicles. This process leads to the production of Ozone gas that is responsible for irritation in the eyes, extensive damage to plants and crops and lung complications. The release of carbon dioxide (C02), chlorofluorocarbons (CFC), sulphur oxides, nitrogen oxides (N0x) and other pollutants into the atmosphere contributes to the destruction of plants on the earth’s surface. Photosynthesis, the process through which trees produce oxygen from carbon dioxide is so vital to human life in fact it is said that life cannot exist without trees. Destruction of trees by releasing these pollutants into the air is equal to destruction of both human life and plant life. While particulate matters are the main contributors to lung problems and most cancer cases, hydrocarbons are also a cause of lung problems and other tissue problems. Long exposure to high concentrations of hydrocarbons eventually leads to total organ failures. Furthermore it is a major contributor to birth defects and other complicated illnesses like cancer. With the commercial manufacture and introduction of hybrid cars, extensive damage to the environment is definitely reduced, quality of life enhanced and urban areas become clean to inhabit, the dream of world environmental rights groups. Economic factors Crude oil is the raw material that propels almost all components of world’s economy in many ways. In fact the world is so dependent on crude oil that if its supply would be cut abruptly, major world economies like United States of America, Russia and China would immediately come to a standstill. United States depends on crude oil alone for 40% of its energy supply, triple than other sources. Overdependence on crude oil is not sound enough. First, crude oil is a non-renewable source of energy and analysts predict it will be largely exhausted within half a century. This rings an alarm bell that if measures are not put in place and countries go green by using hybrid cars, then the future is bleak and the word is in danger. Transportation sector depends entirely on oil for energy supply. Trucks, planes, ships cars and buses are propelled by motor engines that use oil. Introducing hybrid cars would reverse this trend, make the world safer from fluctuating oil prices and reduce dependence on this energy source (Paterson, 2007 para. 3-5). Reliance on crude oil for fuel supply is a major contributor to ethnic and tribal wars in Africa. This demonstrates the levels at which scramble for this commodity has reached. In fact notably China is so hungry for crude oil that it is ready to ignore the sufferings of millions of peoples around the world and specifically Sudan, so as to get its industry moving. It therefore points to the fact that lasting peace and safety will be found and armed conflicts reduced drastically when less fuel consuming cars are produced and thirst for oil curtailed. Hybrid cars are pocket friendly as they consume less gasoline in comparison to fuel powered conventional cars. Even though they are slightly expensive to purchase, the reward is achieved in long term due to lower fuel consumption. Further, governments and notably the United States of America give tax incentives to buyers of hybrid cars in to a move aimed at reducing the average prices of these vehicles and thus encouraging more people to purchase them. Dwindling petroleum deposits in a major concern to the world. It is widely acknowledged that only a total of one trillion barrels of recoverable crude oil reserves is available for exploration worldwide with only two percent (2%) of this value in the United States of America. Most of these oil deposits are found in the eastern hemisphere that is made up of countries that are well known for political instability. It is therefore very wise for countries that fall in the Western hemisphere and more so, the United States to adapt the mass production and commercial use of hybrid vehicles. This will not only cushion them from ever fluctuating oil prices but will also prevent the imminent collapse of most sectors of the economies of these countries. Conclusion From the foregoing, it is evident that the world stands to gain immensely from the introduction into the world of transportation hybrid cars. It is true that the cost of producing a hybrid car is not one that sends one smiling all the way to the bank. In fact it is prohibitively high and the faint hearted who will not pay attention to the long term benefits of this hybrid car model will not dare. But the benefits or gains both in terms of saving a planet in peril and a global economy in a shambles are so enticing and crucial that it is actually the way to go. The environmental problems that come as a result of oil utilization in transport and other areas of life will be dealt with once and for all. For instance, the release of dangerous gases such as carbon dioxide and carbon monoxide into the atmosphere that is responsible for global warming and numerous respiratory problems as well as problems in farming thorough such phenomena as acid rain will be solved. The economic woes that emanate from over dependence on oil will also be contained. The availing of financial resources to rogue nations such as Iran that fund terrorist groups, the shaking of the global economy due to shifts in oil prices as well as the escalation of conflicts in most third world countries in the east and Africa as a result of scrambling over oil resources will be eliminated. References: Anderson C. D Anderson J (2004); Electric and Hybrid Cars: A History. ISBN-10: 0786418729, ISBN -13: 978-0786418725, McFarland Company. pp 6-10 Boschert, S. , (2006); Plug-Ins: The cars that will recharge America. pp 2-7 ISBN-10: 0865715718, ISBN-13: 978-0865715714, New Society Publishers. Gore, A. (2006): An Inconvenient Truth. Retrieved on 24th March 2009 from: http://www. climatecrisis. net/aboutthefilm/. Para 1-3. Paterson, B. N. , (2007). Economic benefits of hybrid cars. Retrieved on 23rd March 2009 from: http://www. helium. com/items/1026111-economic-benefits-of-hybrid-cars, para 3-5. Westbrook M. H, (2001): The Electric Car: Development and Future of Battery, Hybrid and Fuel-Cell Cars. ISBN-10: 0852960131, ISBN-13: 978-0852960134. The Institution of Engineering and Technology. pp 56-61.