Sunday, November 10, 2019
Body Image Outline Essay
Introduction 1. Beauty. It poses the age old question, is beauty in the eye of the beholder or is beauty only skin deep? a. Where does the obsession to be beautiful come from? b. We are all taught at such an early age that looks do not matter, yet we live in a society that seems to contradict this very idea. c. Magazines, reality shows, billboardsâ⬠¦ they all promote a certain body image as being beautiful, and it is a far cry from the average womanââ¬â¢s size 12. i. (FIRST SLIDE) Read more:à How to write an informative essay outline d. Body image is a pressing issue that plagues all men and women alike. 2. The obsession of many young girls and guys over their body image has led to an increasing number of people who have developed an eating disorder to try to deal with their lack of self-esteem or other related problems. a. According to an article in Psychology Today, the most common of these eating disorders include Anorexia Nervosa, Bulimia Nervosa, Binge Eating, and Muscle Dysmorphia. 3. In a recent survey of 185 students on a college campus through the Nutrition Journal, 58% felt pressure to be a certain weight, and of the 83% that hardcore dieted for weight loss, over half of them were already at a normal weight pre dieting. a. It was also recorded through the ANAD Foundation that eating disorders are recorded to be the 3rd most chronic illness of young adults. Body (SECOND SLIDE) 1. The mediaââ¬â¢s use of airbrushing is one of the major causes of these impossible standards of beauty. a. Leah Hardy, a former editor of Cosmopolitan, admitted that this is trueâ⬠¦ many of stick-thin models in Cosmo were actually struggling with eating disorders, but were airbrushed to look less unwell. b. In an interview with the Daily Mail, Hardy stated that the models had 22-inch waits, but they also had breasts and great skin. They had teeny tiny ankles and thin thighs, but they still had luscious hair and full cheeks. Thanks to retouching, our readers never saw the horrible,à hungry downside of skinny. The modelsââ¬â¢ skeletal bodies, dull, thinning hair, spots and dark circles under their eyes were magically erased away by technologyâ⬠¦ a vision of perfection that simply did not exist. c. By airbrushing these models, the media gives young girls the idea that this body image is attainableââ¬âand by trying to look like these models, these girls become just as unhealthy. 2. Although media plays a huge role in holding such high standards for beauty, it is recorded that pressure from friends and family tend to out rank the media and start at a very early age. i. (THIRD SLIDE) b. Eating disorders can be triggered by lack of support following traumatic events such as bereavement, relationship problems, and abuse, according to the Journal of Clinical Nursing. c. Family relationships are complex and central to the development of a childââ¬â¢s sense of self. d. According to a study from the University of Florida titled, ââ¬Å"Too Fat to Be a Princess?â⬠nearly 50% of all children aged from three to six were already concerned about their weight. e. Criticism and teasing from parents, siblings, and peers shape how young children perceive their bodies. f. Experts say the children who develop eating disorders are mostly girls who are often following examples set by their most favorable role models; their mothers. 3. Along with pressure from oneââ¬â¢s family and friends, there are several psychological factors that contribute to eating disorders. a. Among some of these psychological factors include i. Depression, anxiety, feelings of inadequacy, and low self-esteem. b. Many studies have been done on the relationship between these psychological behaviors and eating disorders; all have concluded through various measures that there is a strong relation between the two. c. Too often, the result of an inadequate self results in the distortion of eating. Conclusion 1. In conclusion, the unrealistic standard of beauty that men and women are bombarded with everyday gives them a goal that is nearly impossible to reach, and the effects are devastating. 2. Theses impossible standards need to be stopped, and society instead needs to promote a healthy body imageà along with the idea that men and women of all shapes and sizes are beautifulââ¬ânot just those who are size 2.
Thursday, November 7, 2019
The Value of the Chinese Renminbi
The Value of the Chinese Renminbi Free Online Research Papers MACQUARIE UNIVERSITY ECON 867 International Financial Management Lecturer: Dr. George Milunovich The value of the Chinese renminbi, its management and risks associated with investing in China written by Mahmut Berdan 41404068 Arthur Britto 41087054 Rasmus Heim 40981088 Joanne Papanikitas 40321711 Words: 2,932 Table of Contents Introduction 1 The current economic situation and the present exchange rate regime in mainland China 2 The equilibrium value of the Chinese renminbi under a flexible exchange rate regime 4 Reasons behind the Chinese governments decision to keep the renminbi pegged to a basket of currencies 7 Risks commercial participants face from a managed float versus a fully flexible exchange rate in China 9 Conclusion 12 References 13 Introduction In recent times, the Chinese economy has become a topic of great interest within economic literature and global affairs. In particular, Chinaââ¬â¢s rapidly exceeding economy has sparked extensive discussion on the value, management and stability of the Chinese renminbi, as well as considerable debate concerning the strengths and potential risks associated with investing in China. In what appears to be an economy with immense potential to further expand its global influence, several key factors need to be analysed. Firstly, the advantages and disadvantages associated with the current economic situation and present exchange rate regime existing in mainland China. Secondly, the motivations behind the Chinese governments decision to peg its national currency to a basket of currencies and moreover, the potential risks associated with replacing a fixed exchange rate system with a more flexible one. By considering such factors, it is seemingly clear that Chinaââ¬â¢s recently introduced peg to as basket of currencies will more adequately reflect its economic position, as well as the renminbiââ¬â¢s currency value, within global financial markets. The current economic situation and the present exchange rate regime in mainland China China possesses one of the fastest growing economies in the world, with its rapidly booming economy seaming ahead of its global competitors. Undoubtedly, China is the primary contributor to the growing economic strength of Asia, as well as for global economic growth. Over the last four years, Chinaââ¬â¢s economy has expanded at an average of 10.4 per cent per year which, during the same financial period, more than doubled the average growth rate of the world economy. Factors considered bring responsible for Chinaââ¬â¢s startling economic growth are the rise in GDP, GDP Per Capita, investment, trade and the success of Chinese enterprises (Full Steam Ahead for Chinese Economy 2007). China contributes a strong 5.5 percent of the worlds GDP, with growth stable, remaining within 1.1% fluctuation points. Predictions have been made that in 2008, Chinas GDP could possibly increase to 10.7% with the Olympic Games taking place in Beijing (Full Steam Ahead for Chinese Economy 2007). Chinese government officials wish to sustain economic growth in order to reduce poverty (Chinese Economy Exceeds Forecast 2007). In 2006, China appeared to have succeeded, with its per capita income reaching the 2000US threshold for the first time. Rural resident incomes increased by 7.4 per cent, whilst urban residents increased by 10.4 per cent. According World Bank statistics, such an increase suggests that China can no longer be considered a low-income nation (Full Steam Ahead for Chinese Economy 2007). In the last four years, Chinaââ¬â¢s national fixed assets investment has increased by 26.6 per cent, whilst its trade volume has made rapid progress, reaching the third largest volume globally at 1.76 trillion in 2006. Moreover, Chinese enterprises have recorded impressive profit margins, which have undoubtedly strengthened national economic growth (Asia Economy: The Impact of the Renminbi Revaluation 2005). It is seemingly clear that in present terms, the Chinese economy has conditions of high levels of growth and sustainability. However, a nation with such rapidly exceeding growth may face problems of surplus production capacity, the risk of deflation and overheating, if the proportion of exports in GDP capacity continues to rise into the future (Future worries for Chinese Economy 2007). The main priority of the ruling Chinese Communist Party (CCP) is to maintain strong rates of economic growth, political and economic stability, as well as implement reforms in a country experiencing significant economic transformations (China: Country Outlook 2007). As an eloquent example of economic reform, Chinese officials made a moderate revaluation of the currency by ending the eight year fixed exchange rate policy of pegging the Renminbi against the US dollar and replacing it with a floating exchange rate regime, targeting its value against a basket of currencies (Asia Economy: The Impact of the Renminbi Revaluation 2005). Under the reform, a ââ¬Ëreference basketââ¬â¢ of currencies is referred to when selecting targets for the Renminbi (Asia Economy: The Impact of the Renminbi Revaluation 2005). Such basket currencies will have assigned ââ¬Ëindex weightsââ¬â¢ administered by The State Administration for Exchange Control (SAEC), under direct control of the Peoples Ba nk of China (PBOC) - Chinaââ¬â¢s Central Bank- , that reflect which currencies are most commonly traded in terms of foreign trade, external debt and foreign direct investment (Peopleââ¬â¢s Bank Of China 2007). The Peoples Bank of China (PBOC) stated that trade weighted indexes will not be followed rigidly, as account considerations such as the share of other major currencies in foreign debt and foreign direct investment will also be considered (Peopleââ¬â¢s Bank of China 2007). The revaluation has exhibited a moderate appreciation of 2.1 per cent, from 8.28 per cent against the US Dollar to 8.11 per cent (Asia Economy: EIUââ¬â¢s October Assumptions 2005). An announcement of the Peopleââ¬â¢s Bank of China (PBOC) states that the changes ââ¬Ëâ⬠¦enables the market to fully play its role in resource allocationâ⬠¦as well as further strengthen the managed floating exchange rate regime based on supply and demandââ¬â¢ (Peopleââ¬â¢s Bank of China 2007). Chinas trade patterns have moderately altered, relieving pressures caused by Chinaââ¬â¢s capital and current account surpluses. Despite its advantages, the present exchange rate regime may create uncertainty of the future exchange rate level, the appreciation or depreciation of the currency, as well as prices of imported goods and level of export costs in the longer term (Kuroda 2003). The equilibrium value of the Chinese renminbi under a flexible exchange rate regime In order to calculate the equilibrium value of the renminbi, first, one has to decide which of the three basic versions of PPP to use: the Law of One Price (LOP), the absolute PPP or the relative PPP (Yang Bajeux-Besnainou 2006). In this report, the relative PPP will be used to determine RMBââ¬â¢s equilibrium value. Like the other two options, relative PPP does not differentiate between tradable and non-tradable input goods. So, wages are included in prices used to calculate the PPP exchange rate, but not in the market exchange rate. Therefore, the former is lower than the market equilibrium exchange rate given a low per capita income currency such as the RMB being the quoted currency. Hence, the RMBââ¬â¢s value, implied by PPP, is higher than the value indicated by actual exchange rate. However, the relative PPP overcomes LOPââ¬â¢s problem of lacking representativeness. Moreover, in contrast to the absolute PPP, it also reduces the impact of including traded as well as non-traded goods by relying on the equilibrium exchange rate S0 of a base year t=0. The PPP exchange rate then is determined by adjusting S0 by the relative price changes of the two currencies (Yang Bajeux-Besnainou 2006). Since this model is based on an equilibrium value of the exchange rate, the results obtained will be more reliable than those of the other two versions. Therefore, to determine the equilibrium value of the renminbi, the relative PPP method will be used by applying this formula: To ascertain the base period, one has to select a period in which the actual exchange rate was equal to the PPP exchange rate (Artus 1978). Moreover, according to Artus (1978), since biases in measuring relative price changes rise with time, the base period chosen must not lie too far in the past. Yang and Bajeux-Besnainou (2006) chose a period, in which major changes in Chinaââ¬â¢s exchange rate system occured. Given this and Artusââ¬â¢ claim that the base period must not be too distant from the current period, therefore, the exchange rate of July 23 2005 will be taken as a base period. Two days before, the Peopleââ¬â¢s Bank of China announced that the renminbi would be pegged to a basket of currencies. Before that, it was pegged to the US-Dollar only. The following data is used to calculate the PPP exchange rate: 2005 2007 Exchange rate 8.12110 exchange rate of July 23, 2005, i.e. two days after the revaluation (Oanda.com ) 7.0222 (7.55580) exchange rate of March 31, 2008, chosen in accordance with the latest CPI month available (Oanda.com) Domestic price level p (RMB) 101.3 CPI of August 2005, i.e. the month after the revaluation (National Bureau of Statistics of China 2007) 108.3(106.5) latest available CPI, March 2008 (National Bureau of Statistics of China 2008) Foreign price level p* (USD) 196.4 CPI of August 2005, i.e. the month after the revaluation (US Department of Labor 2007) 213.5 (207.9) latest available CPI, March 2008 (US Department of Labor 2008) Since the long-run equilibrium exchange rate implied by relative PPP is higher than the actual exchange rate S2007, the foreign currency USD is undervalued by and the domestic currrency RMB is overvalued by Using PPP as a trading rule, buying USD and selling RMB is recommended. It is important to bear in mind that, since there are, in reality, differences between traded and non-traded goods as well as restrictions in the movement of goods, relative PPP can only be employed as an estimate. More specifically, governments should solely use it as guide for their exchange rate policies, rather than as a precise means to determine deviations of actual exchange rates from an equilibrium value. Reasons behind the Chinese governments decision to keep the renminbi pegged to a basket of currencies In order to establish the reasons behind the Chinese governmentââ¬â¢s decision to keep the RMB pegged to currencies such as the US dollar, Euro and Japanese Yen, it is important to first differentiate between the reasons given by the Chinese government and the ones pointed out by the US government. Two major justifications made by Chinese policymakers include concerns that moving to a more flexible system would exacerbate deflationary pressures and undermine export competitiveness (Tung Baker 2004). In other words, with the RMB at a higher value against the dollar, there would be an increase in the price of exports and that could lead to a downward pressure on domestic prices. In addition, the Chinese government has also mentioned that the current exchange rate adjustment aims to promote the basic equilibrium of the balance of payments and safeguard macroeconomic and financial stability (Xinhua 2005a). The Peopleââ¬â¢s Bank of China says that it has chosen an exchange rate system ââ¬Å"that caters to its domestic situation by taking into consideration its fundamental interests and economic and social developmentâ⬠(Xinhua 2005b). In other words, China argues that the pegged system more likely guarantees stable economic growth. On the other hand, Americans- namely US lawmakers and manufacturers- have stated that China gives its exporters an unfair price advantage in global markets by keeping the RMBââ¬â¢s value artificially low (Reuters 2007a). For Ben Bernanke, US Federal Reserve Chairman, the yuan regime provides an effective subsidy to Chinese exporters, even though it is not a subsidy in the legal sense of the word (Kaiser 2007). Finally, Condoleezza Rice, US Secretary of State, has recently called for reform of the currency to one that will be reflective of the market (Reuters 2007b). In response to these claims, Chinese President Hu Jintao has currently indicated that China would continue to reform the currency exchange system and let the market play an increasing role (Pulizzi 2007). However, as written by David Cohen in the article China Hints at Further Appreciation of Yuan, ââ¬Å"China remains committed to proceeding [yuanââ¬â¢s revaluation] at its own paceâ⬠(2007). Despite Yang and Bajeux-Besnainouââ¬â¢s research finding no convincing evidence to support that the RMB was undervalued (2006), the US Treasury noted in June 2007 that Chinas currency was in fact undervalued. However, it had been unable to determine that Chinas exchange rate policy was carried out for the purpose of preventing effective balance of payments adjustment or gaining unfair competitive advantage in international trade. (Somerville Palmer 2007). Intended or not, considering both countriesââ¬â¢ points of view, the Chinese governmentââ¬â¢s decision to peg the yuan to a basket of currencies has undeniably given a competitive edge to China (The Economist 2007). It is this particular competitive edge that China does not want to lose. This would occur if the country allowed the renminbi to fully float. As Burdekin (2006) stated, losing export markets would slow down economic growth and negatively affect employment. Hence, to make sure that displaced workers can find employment, the government hesitates in accepting even a modest reduction in the countryââ¬â¢s high economic growth. To conclude, another reason for keeping the exchange rate system as it is, as Cohen (2007) suggests, is to refer to the old saying ââ¬Å"if it is not broken, do not fix itâ⬠. Risks commercial participants face from a managed float versus a fully flexible exchange rate in China According to Davis (2004), the future development of Chinaââ¬â¢s economy is highly determined by its efforts to become more integrated with global financial markets. The necessity of this is also reflected by Chinaââ¬â¢s strict capital controls combined with an immature banking system, which deteriorates external funding for local companies (Davis 2004). Such integration could be achieved by aiming for a market driven ergo floating currency of the Yuan. However Davis (2004) envisages that a sudden change of Chinaââ¬â¢s currency policy would adversely affect Chinaââ¬â¢s interest, due to a continuing underdeveloped banking system, which is being rated one of the worst in the world. In this context, Moosa (2006) suggests that for countries with poor financial systems such as China, a freely floating currency is not suitable since such systems require sophisticated futures and forward markets. Due to this, the pegged currency has proven itself as a major pillar of stability, especially during the Asian crisis (Das 2005). However, the pegged currency is subject to policy decisions which have announced destabilizing effects on the financial markets as compared to periods in which the exchange rates are held constant. Davis (2004) argued that the change towards a free float would lead to an asset flight stemming from Chinese depositors who would diversify their portfolios by investing in other international markets. The economic slow-down and/or potentially resulting crisis would most likely be combated by an enormous rise in interest rates in China. For this reason, Davis suggests that implementing a freely float would not be a viable option for another decade. The change that is most likely to occur in the short term is a revaluation of the pegged exchange rate by appreciating the Yuan, which would require China some time to develop a more competitive and functional banking system. U.S. direct income investors would be majorly affected by such revaluation, since the need for the Chinese Central Bank to buy large quantities of U.S. securities would decrease. This is due to the decreasing proportion of the U.S. trade deficit China is currently backing. Naturally, an appreciation of the Yuan would make Chinese exports more expensive for foreign countries such as the U.S. and therefore possibly reduce imports stemming from China. As a consequence of the revaluation, there could be inflationary impacts on the world economy whose magnitude however would differ between countries (Yang Bajeux-Besnainou 2006). Nevertheless it is important to note that an increase in Chinese exports prices might not have an effect on Chinaââ¬â¢s exports at all due to the general low level of prices stemming from extremely low labour cost. Generally, investors are concerned with exchange rate fluctuations, for they impact on the net worth of their investments. In this context, floating exchange rates are often viewed as a way to achieve higher flexibility and avoid costs associated with policy changes in parities which create greater uncertainty (Aliber 1972). In the case of China, the risk that stems from a floating exchange rate is related to its immature banking system and unforeseeable reaction from investors that suddenly face a more volatile currency. These reactions could generate a chain reaction similar to Thailand which triggered the Asian financial crisis in 1997 (Das 2005). There are a number of political and economic issues for China such as the high degree of corruption for instance, which could increase the likelihood of disorderly national behaviour, creating additional uncertainty (Aliber 1972), (Business Monitor International 2007). This becomes critical in a scenario where the Chinese foreign exchange should depreciate. In that scenario, Chinese exporters and investors will be worse off, whilst political pressure may deteriorate appropriate adjustment of the exchange rate. Additionally, despite Chinaââ¬â¢s accession to the WTO, adequate reform needs to be made in addressing issues such as intellectual property protection, which is still a major impediment on FDI in China according to Business Monitor International (BMI 2007). Moreover, there remain possibilities of financial crisis in China forecasted by BMI (2007) due to a number of factors. Firstly, the lack of effective reduction of non-performing loans (NPLs) in the state-owned banking sector negatively impacts investorsââ¬â¢ confidence. Secondly, the currently rapid investment in China could lead to over-capacity, which in turn could lead to the re-emergence of deflationary pressures. Furthermore, the undisputed growth of Chinaââ¬â¢s economy is widely feared as being unsustainable and the impacts of a slow-down are unclear creating uncertainty for investors. Lastly, China is still classified as a non-market economy with most of its trading partners within WTO regulation, which makes China more vulnerable against anti-dumping duties. Conclusion It is apparent that China is highly integrated and influential in todayââ¬â¢s global economy. The impact of a revaluation of the Yuan has triggered widespread controversy, with changes in Chinaââ¬â¢s monetary policy being deemed a potential threat to stable global market movements which could trigger economic instability and future crisis. On the one hand, it is feared that the appreciation of the RMB may result in inflationary impacts on the world economy, as well as a decrease of Chinese exports to major trading partners. However, structural aspects such as low labour costs and increasing levels of Foreign Direct Investment (FDI) provide a competitive advantage to China over most economies in the world. Therefore, impacts of an appreciation of the RMB may not, as widely assumed, adversely impact Chinaââ¬â¢s competitiveness as a strong exporting nation. In the long term, China will aspire to achieve a more market driven exchange rate system in order to become more closely associated and integrated within global financial markets. In order to successfully sustain and operate a sophisticated and well functioning financial system, financial authorities need to invest time and effort in its structural development. References Aliber, R 1972, ââ¬ËUncertainty, Currency Areas and the Exchange Rate Systemââ¬â¢, Economica, New Series, vol. 39, no. 156, pp. 432-441. ââ¬ËAsia Economy: EIUââ¬â¢s October Assumptionsââ¬â¢ 2005, Economist Intelligence Unit Ltd., 28 September, p.1. Retrieved September 19, 2007, from Factiva database. ââ¬ËAsia Economy: The Impact of the Renminbi Revaluationââ¬â¢ 2005, The Economist Intelligence Unit Ltd., 27 July, p.1. Retrieved September 19, 2007, from Factiva database. Burdekin, R 2006, ââ¬ËChina and the Depreciating U.S. Dollarââ¬â¢, Asia-Pacific Issues, East-West Center, no. 79. Retrieved September 21, 2007, from Macquarie University WebCT. Business Monitor International 2007, The China Business Forecast Report. Retrieved September 4, 2007, from Business Monitor Database. ââ¬ËChina: Country Outlookââ¬â¢ 2007, Economist Intelligence Unit Ltd., 1 September, p.2. Retrieved September 19, 2007, from Factiva database. ââ¬ËChinese Economy Exceeding Forecastsââ¬â¢ 2007, Kitchener-Waterloo Record, 12 July, p.2. Retrieved September 19, 2007, from Factiva database. Cohen, D 2007, ââ¬ËChina Hints at Further Appreciation of Yuanââ¬â¢, BusinessWeek, 22 May. Retrieved September 24, 2007, from businessweek.com/investor/content/may2007/pi20070522_343319.htm Das, D 2005, ââ¬ËTHE ANATOMY OF A CRISIS: ASIA AS GROUND ZEROââ¬â¢, Centre for Japanese Economic Studies Macquarie University Sydney NSW 2109, Research paper Davis, H 2004, ââ¬ËInvestment Implication of a future Chinese Currency Revaluationââ¬â¢,Vanguard Investment Counseling Research, pp. 2 ââ¬â 11. ââ¬ËFull Steam Ahead for Chinese Economyââ¬â¢, 2007, Asia Pulse Pty Ltd., 19 September, p.1. Retrieved September 19, 2007, from Factiva database. ââ¬ËFuture worries for Chinese Economyââ¬â¢ 2007, Xinhua Electronics News, 2 July, p.1. Retrieved September 19, 2007, from Factiva database. Kaiser, E 2007, ââ¬ËSubprime losses could hit $100 billion: Bernankeââ¬â¢, Reuters, 19 July. Retrieved September 24, 2007, from reuters.com/article/pressReleasesMolt/idUSN1933365020070720?pageNumber=2sp=true Kuroda, H 2003, ââ¬ËHow to Help the Renminbi Find its Own Levelââ¬â¢, The Financial Times Ltd., 17 October, p.1. Retrieved September 19, 2007 from Factiva database. Moosa, I 2007, International Finance, An Analytical Approach, 2nd edn, McGraw-Hill, Sydney. National Bureau of Statistics of China, 2007, Statistical Data. Retrieved September 29, 2007, from stats.gov.cn/english/statisticaldata/ Oanda Corporation, 2007, FXHistory: historical currency exchange rates. Retrieved September 29, 2007 from oanda.com/convert/fxhistory The Peoples Bank of China Decides to Expand Designated Banks Forward Sale and purchase of Foreign Exchange Business and Launch RMB Swaps against Foreign Currencies 2006. Retrieved September 19, 2007 from pbc.gov.cn/english/detail.asp?col=6800id=59. Pulizzi, H 2007, ââ¬ËWhite House: Yuan Reform Alone Wont Solve US-China Trade Woesââ¬â¢, Dow Jones International News, 6 September. Retrieved from Factiva database. Reuters 2007a, ââ¬ËChina should revalue yuan faster: U.S. officialââ¬â¢, 21 June. Retrieved September 24, 2007, from reuters.com/article/ousiv/idUSL2111360320070621 Reuters 2007b, ââ¬ËRice: China doesnt play fair on trade, currencyââ¬â¢, 6 July. Retrieved September 24, 2007, from reuters.com/article/bondsNews/idUSN0619427620070706 Somerville, G Palmer D 2007, ââ¬ËU.S. pass on China currency stirs Senate actionââ¬â¢, Reuters, 13 June. Retrieved September 24, 2007, from reuters.com/article/politicsNews/idUSN1334224920070613?sp=true The Economist 2007, ââ¬ËAnother shoe to drop: It is how steadily the dollar is falling that counts, not how swiftlyââ¬â¢, 13 September. Retrieved September 24, 2007, from economist.com/finance/displaystory.cfm?story_id=9804394CFID=14864436CFTOKEN=90675586 Tung, CY Baker, S 2004, ââ¬ËRMB revaluation will serve Chinaââ¬â¢s self-interestââ¬â¢, April. Retrieved September 21, 2007, from Macquarie University WebCT. US Department of Labor 2007, Archived News Releases for Consumer Price Index. Retrieved September 29, 2007, from bls.gov/schedule/archives/cpi_nr.htm Xinhua News Agency 2005a, ââ¬ËYuan Peg to Dollar Scrappedââ¬â¢, 21 July. Retrieved September 24, 2007, from china.org.cn/english/2005/Jul/135685.htm Xinhua News Agency 2005b, ââ¬ËRMB Wont Float by Big Marginââ¬â¢, 22 July. Retrieved September 24, 2007, from china.org.cn/english/2005/Jul/135753.htm Yang, J Bajeux-Besnainou, I 2006, ââ¬ËIs the Chinese Currency Undervalued?ââ¬â¢, International Research Journal of Finance and Economics, no. 2, pp. 106ââ¬â130. Research Papers on The Value of the Chinese RenminbiDefinition of Export QuotasPETSTEL analysis of IndiaTwilight of the UAWAnalysis of Ebay Expanding into AsiaInfluences of Socio-Economic Status of Married MalesIncorporating Risk and Uncertainty Factor in CapitalAssess the importance of Nationalism 1815-1850 EuropeAppeasement Policy Towards the Outbreak of World War 2The Effects of Illegal ImmigrationThe Project Managment Office System
Tuesday, November 5, 2019
A Quiz About Tactical Syntactical Revision
A Quiz About Tactical Syntactical Revision A Quiz About Tactical Syntactical Revision A Quiz About Tactical Syntactical Revision By Mark Nichol Most writers understand that whole subject-verb-predicate thing, but thereââ¬â¢s more to crafting sentences than making sure they include those basic ingredients (but not necessarily in that order and, then again, a sentence doesnââ¬â¢t really require any of those elements). The following sample sentences suffer from poor organization (and, as a result, their readers suffer, too). Although the information in them is present in fundamentally correct grammatical components, the syntax the arrangement of these building blocks is clumsily ineffectual. Redistribute the parts of these sentences for optimum impact, and then compare your solutions with mine, provided and annotated below each example. (This is a new format for quiz-type posts here let me know whether you like this format or prefer that my revisions be collected together at the bottom of the page.) 1. ââ¬Å"He says he doesnââ¬â¢t think a prominent breast cancer charity should continue giving grants to Planned Parenthood because it provides abortion services.â⬠The location of the ââ¬Å"because . . .â⬠phrase at the end of the sentence can confuse readers into assuming that there is a reason other than the one stated that the paraphrased speaker supports the grants. But the sentence means that the stated policy is the reason the person does not support them. This ambiguity is resolved by inserting the ââ¬Å"because . . .â⬠phrase at the head of the sentence: ââ¬Å"Because Planned Parenthood provides abortion services, he says, he doesnââ¬â¢t think a prominent breast cancer charity should continue giving grants to the organization.â⬠2. ââ¬Å"Passengers who refuse to complete the screening process cannot be granted access to the secure area in order to ensure the safety of others traveling.â⬠The problem in this sentence is similar to that of that in the first example. A reader might assume that the intention of the passengers is to ensure the safety of other travelers, but that they will be granted access for another reason. Other misreadings are also likely. This confusion is eliminated by placing the concluding modifying phrase at the head of the sentence: ââ¬Å"In order to ensure the safety of others traveling, passengers who refuse to complete the screening process cannot be granted access to the secure area.â⬠3. ââ¬Å"America should rely on the entrepreneurship and goodness of its citizens to be a great society, not on the well-intentioned but ineffective policies of government agencies.â⬠This sentence is not incorrect, but it is weakly constructed, spoiling the conclusion by placing it near the head of the sentence and trailing off with the alternative. Sentences intended to persuade are most effective when they first dismiss an obverse point of view and are anchored with the point of argument. (The sentence preceding this parenthesis has a similar effect.) Also, the stated goal is stronger when located at the head of the sentence than at the tail: ââ¬Å"To be a great society, America should rely not on the well-intentioned but ineffective policies of government agencies, but on the entrepreneurship and goodness of its citizens.â⬠4. ââ¬Å"Every year, colleges inject a stream of impassioned, idealistic new leaders into our nation, eager to take on our countryââ¬â¢s toughest challenges.â⬠The modifying phrase ââ¬Å"into our nation,â⬠and especially the comma following it, retard the momentum of this sentence. By placing the phrase earlier in the sentence, the writer solidifies the ââ¬Å"inject . . . nationâ⬠imagery and omits the obstructive comma, thereby streamlining the statement: ââ¬Å"Every year, colleges inject into our nation a stream of impassioned, idealistic new leaders eager to take on our countryââ¬â¢s toughest challenges.â⬠5. ââ¬Å"The fact is, evangelicals have progressed a long way in a very short time when it comes to relations with Catholics.â⬠The explanatory modifier about the target segment of Christians for the evangelicals is best located earlier in the sentence, which is strengthened by placing the accomplishment at its end: ââ¬Å"The fact is, when it comes to relations with Catholics, evangelicals have progressed a long way in a very short time.â⬠Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Grammar category, check our popular posts, or choose a related post below:5 Uses of InfinitivesWhat to Do When Words Appear Twice in a RowCareful with Words Used as Noun and Verb
Sunday, November 3, 2019
Cell Phones Should Be Allowed in Class Assignment
Cell Phones Should Be Allowed in Class - Assignment Example Cell phones have enormous benefits to offer to the society and its members and thus individuals expect to be able to use them every one. One setting where cell phones have been enormously criticized is in classrooms. Although cell phones have been criticized, this technology should be allowed in classrooms because this technology enhances learning, security, and connectivity.à Mobile phones should be allowed in classrooms because these devices enhance learnerââ¬â¢s learning. Those who oppose this technology in classrooms believe that this technology is an obstacle in learning because this technology diverts the attention of the student from what is being taught in the class. These devices do not become an obstacle to learning what is being taught, they rather support and enhance the understanding of the course material. There are many instances when even the instructors fail to provide information relevant to the course material. In such instances, cell phones allow individuals to search for information in connection with course material and this information does not only benefits the user, this information even benefits other class members and the instructor. According to Ferriter, mobile phones can be used in classrooms to replace essential classroom supplies (Ferriter 1). Ferriter states that while conducting a lab experiment students required timers to time their experiments. There were insufficient timers to help the students, so mobile phones were used as timers and this activity allowed cell phones to perform various functions such as helping students in locating definitions and sharing of knowledge with other students through texting.à Security is one of the major issues that have been addressed by the use of cell phones. When students are restricted in a classroom they are unaware of the happening in the world outside the classroom. Due to this students face security issues as information regarding negative events taking place outside the classr oom is essential for students to take preventive measures while returning to their homes.
Thursday, October 31, 2019
Geoengineering Essay Example | Topics and Well Written Essays - 1000 words
Geoengineering - Essay Example Geoengineering technologies that aim to address this issue can be classified into three broad areas (ETC Group, 19-21): 1. Solar radiation management (SRM) technologies: These technologies aim to reduce the effects of greenhouse gases by increasing the radiation of sunlight back into space. Researchers and advocates have suggested various techniques like covering deserts with reflective sheets to deflect sunlight or blocking the sunlight with ââ¬Ëspace shadesââ¬â¢. This technology is predicted to divert about 10% of sunlight away from the planet. Researchers have also suggested covering glaciers in the Arctic region with insulating material to reflect sunlight and prevent the melting of ice. Other techniques include painting roofs and road surfaces white so as to reflect the sunlight, using superfine reflective mesh of aluminum between the Earth and sun as ââ¬Ëspace mirrorsââ¬â¢ and engineer large-scale changes in water movements in order to provoke cloud formation to ref lect sunlight. These SRM technologies can however cause significant environmental damage, including releasing additional greenhouse gases into the atmosphere. ... 2. Carbon dioxide removal and sequestration: This technology aims to remove CO2 from the atmosphere after it has been released. It involves techniques like adding iron or nitrogen to ocean water to stimulate the growth of phytoplankton in an attempt to promote carbon sequestration in deep sea and developing carbon sucking machines to extract CO2 from the air in solid form so that it can be buried. Other techniques involve controlling the levels of atmospheric CO2 by spreading magnesium iron silicate on farmland or forestland and genetically engineering communities of synthetic microbes and algae to create new forms of carbon ââ¬Ësinksââ¬â¢. Implementation of these technologies that intervene in complex ecosystems can however cause unpredictable side effects. Again, the duration and safety of sequestration in land or sea are mostly unknown. Many of these techniques also require land/ocean use changes that can negatively affect the poor and marginalized people. 3. Weather modific ation: This technology does not address the causes or the mechanism of climate change, but aims only to alter its outcomes. This approach involves techniques like cloud seeding by using chemicals like silver iodide to precipitate rain or snow. This technique is already practiced on a large scale in the U.S. and China despite the skepticism about its effectiveness. Another technique attempts to prevent the formation of storms by redirecting or suppressing hurricanes. Since predicting the weather and proving the effectiveness of these interventions are difficult, these technologies may result in some unwelcome and unpredictable side effects. Attempts to produce rainfall in one location can be regarded as rainfall ââ¬Ëtheftââ¬â¢ by residents of another location, especially
Tuesday, October 29, 2019
Makeup Assignment Example | Topics and Well Written Essays - 250 words
Makeup - Assignment Example Hoffman presents a disillusioned figure as she talks standoff and rubble of years of industrialization and governments. She further explains the Cartesian perception of the world, which she believes hurts the environment and humanity. The philosophy of Descartes primarily revolves around metaphysics and epistemology. Sonia brings in Descartes philosophy in the film by claiming that people have grown to develop the opinion that the nature is not a living organism. Sonia argues that Descartes plays a major role into making people view nature as a machine rather than a living thing. She picks out Descartes philosophy of the human body, which views the human body as a machine, as a fundamental way of thinking that led people to view nature inappropriately. In the film, Sonia asserts that the essence of life itself is basically self-organization. According to her, life is all about self-maintaining, renewing and transcending. Life is characterized by the innate propensity to generate new
Sunday, October 27, 2019
The Technology Aided Learning Education Essay
The Technology Aided Learning Education Essay Hey man! Whats wrong? Why are you crying? I didnt attend the last lecture how can I do the assignment now? Oh dont worry! I have the lecture recorded in my pen. Pen Yes it records video. Here take this Education is a complex subject which appears to elude definition. With the passage of time it has gathered new dimensions and stirred the human mind in unpredictable ways. Education is a continuous process and it aims at total development of the individual. Learning is not a single activity; it includes at least three different stages: accretion, restructuring, and tuning That is the, progress from the unsure and anxious state of the learner to the serene and experienced skill of the expert. It is not enough to understand and learn a subject. When a subject has been learned, it should be used. It should be practiced. It should be tuned until it is used effortlessly. An old proverb says, I heard it and I forgot it, I saw it and I remembered it, I did it and I learned it. Learning is therefore more effective when it occurs in an interactive setting that is mostly promoted through the use of educational technology. Now a days one can not live without technology. There is hardly an area of our life which is free from its presence whether it is health or education, industry or transport, communication or entertainment, fashion or domestic comforts technology is there all around us to serve us in every possible manner. TAL is an abbreviation of Technology Aided Learning and is one of the most commonly used acronyms within education. TAL has been increasingly used to describe the use of technology for learning purposes. The need for technology in the classroom is rapidly increasing with the changing times. What one must remember is that TAL is used to assist the user in learning or understanding a particular subject or thought in different or with interesting presentation. The key word here is Assist which means that it is not alone in this aim and that there are other methods involved too. In other words it is a small part of a much larger picture. It is relatively a new learning technique and is used for individual learning, in schools and in workplaces no matter what age groups the learner might belong to. TAL can be equally beneficial for people with disabilities. It will give them the opportunity to work side by side with peers. Technology today is flexible enough to stretch and meet their spec ial requirements. It will help them self-advocate In workplace environment it helps everyone by keeping a breast with latest techniques and solving day to day problems. Technology today provides virtual environments in which to check the viability of projects in real life situations. According to the British Journal of Educational Technology published by the National centre for Educational Technology, U.K. No. 2, Vol. 2, May 1971. Educational technology basically means all the intellectual and operational efforts made during recent years to regroup, arrange and systematize the application of scientific methods to the organization of new sets of equipment and material so as to optimize learning process. Majority of the people prefer TAL over traditional methods. TAL can cater a large number of people at the same time whereas traditional teacher centered methods can accommodate a certain number only. Technological learning commonly known as E-learning is defined as the use of new multimedia technologies and the Internet to improve the quality of learning by facilitating access to resources and services, as well as remote exchange and collaboration (EC, 2001). An integral part of the e-learning is video-conferencing technology, which allows students to talk to experts and other schools and students around the world in real time via a video link-up. Virtual schools are a relatively new phenomenon that is gripping the nation which makes it possible for everyone to learn at the same time even if they are at different ends of the globe. In this way a lot of time is saved from repeating or preparing the same lecture for separate classes. It is also benefactor for all those who due to one reason or another cannot go to educational institutions by having online lectures in their homes. If such virtual schools can be developed it might prove to be a sigh of relief for all those countries who import oil and other fuels as less to and from movement from educational institutions will bring a decrease in demand for fuel import thus giving a much required relief to their withering economy and might even boost it. Such a strategy can be particularly use ful in rural areas where online learning can help teachers and students in remote areas overcome distance. So in this way it can lend a helping hand in solving the current staff to student ratio crisis. Technology is the potential savior of the education system, because it can be used to personalize learning. The learner can learn at the pace he is most comfortable with and can design his learning according to his knowledge and needs, record the progress he makes. While some of the people want technology to replace traditional learning altogether others might disagree. A more moderate approach to the issue in question would be that both techniques should be employed in balance because some students from backward areas do not have the pace and are not at all comfortable with technology and also because it decreases student to student and student to teacher communication up to some extent. This strategy of blending online learning with school-based instruction is often utilized to accommodate students diverse learning styles and to enable them to work before or after school in ways that are not possible with conventional classroom instructions. Learners respond to information differently. As a result, it is often to the teachers advantage to use many different formats and modes to teach the lesson. Factors which influence the use of TAL include availability of resources and time and also on the difficulty of the topic and the strength and level of the class being taught. Use of TAL also broadens the mindset by giving every kind of information in one place. Most of the instructors just teach whatever is in the book and do not go outside its scope. Some do not employ TAL techniques due to power fluctuations and also non credibility of information up to some extent. The kind of technologies employed include internet, video conferences, audio and video cassettes regarding book content, online tests, online reference books, articles/journals and a wide range of gadgets including Projector, Camera, Electronic Board, Computer and different multimedia aids. While open educational resources are freely available over the net to every student without any discrimination, effort should be made that they meet standards of quality, accuracy and credibility as with any other educational resource. TAL is an effective learning technique.TAL provides an active learning atmosphere because different audio and visual materials appeal to the senses and completely grabs their attention. The listener of today does not want a dull lecture he prefers education through entertainment. Because of its comfortableness sometimes listener feels at ease and then might miss out a few things but TAL has the ability to reignite listeners interest. Because of the healthy interaction between technology and students interest in even dull topics can be developed. Audience motivation increases due to the use of TAL because everyday theres something new. Hence, if proper motivation and learning environment is provided TAL can surely enhance learning capabilities. Outside school, students constantly interact with technologies such as iPods, mobile phones, the internet and social networking sites, so it is little wonder theres an expectation that these technologies will also support their learning in the classroom. In recent world a program has been trialled that allowed students and teachers to download free information and resources through iTunes U an area of the iTunes store offering free education content from top institutions around the world. The departments assistant executive director curriculum support says that, by providing online content in alternative formats, the department hopes to make the information more accessible and appealing to people in the education community. This program will also test the practicality of using alternative electronic formats to distribute the departments information. The iTunes project also means that students can better communicate with their peers and access different perspectives on their subjects by sharing audio files to discuss their school work. Advantages of TAL in classroom include but are not limited to those mentioned here. The ideal classroom is an interactive, collaborative, and innovative place of discovery; technology is a key piece in achieving that goal. The use of TAL is increasing due to its fast and effective delivery of concepts and convenience. One of the advantages of using multimedia is to convey information quickly and effectively to all learners-and keep them interested in learning. (Savage and Vogel, 1996). Each and every one of the student pays 100% attention. TAL increases the interest in learning by creating an environment which is both innovative and creative and engages the student more fully. TAL makes one forget the chalk dust, the textbooks and make them a thing of the past. TAL is bliss for all those who want permanent and up to date knowledge. The use of TAL has introduced the concept of self education. When students find a term they are interested in they would simply research it and discus whatever they have found with their classmates. TAL also has an upper hand due to its diverse material. It sure is a fun way to get your students to review important material. It is certainly an advantage for all those who want to gain extra. It also saves the student and teacher from the hassle of carrying books and notes to and from the classroom. TAL expands whatever the course offers. When the same material is taught for awhile the student and even the teacher himself might find it les s than exciting. A quick internet search might help you identify ways to supplement your lessons with interesting new material such as photographs, sound clips, video clips, which can more than bring your lessons to life. Hence the use of technology allows teachers to diversify their lectures, display more information, and enhance learners learning. All student related info such as grades, attendance, progress reports etc can be uploaded which will make it possible to access it from any computer and hence make it easier for students and parents to track the students progress. Technology helps us in training our students in such a way that they master the 4Cs which are creativity, collaboration, communication and critical-thinking. TAL creates a sense of independent learning and help students in experiencing real life situations in the comfortable surroundings. With the aid of technology, many teachers take students beyond traditional classroom limits, creating virtual environments to experiment and explore (Hamza and Alhalabi, 1999). TAL reduces the cost of instructional materials. Technology is infused in almost every aspect of our daily lives so students from institutions which employ TAL techniques frequently have an upper hand than the rest as they are already trained in the much required skills. Students with little or no interest are simply not stimulated unless given technology as the backbone to their learning. Although some technologies sound space-aged and technical, most of the technologies that students are using are the same as those in most homes; the main difference is that, in schools, their educational potential is being explored. Like everything TAL also has some disadvantages. Lets imagine a situation where a teacher is having trouble with technological devices and it might sometimes be embarrassing when a student tells him or her how to troubleshoot the problem in question. However, that doesnt mean a teacher can turn away from using technology altogether. Instead, workshops should be arranged to bring such teachers into this new era of education by giving them the choice of what technology to use with their students. Given budget restraints, one hears more arguments in favor of traditional learning rather than use of technology in classrooms. The best solution to the financial problem is to allow students to bring in their own devices which mean that some students will have i-pads, pods, phones and laptops while others will have nothing. Technology, in this case, will likely serve to increase the gap between the rich and the poor and create a sense of deprivation. Sometimes students take it easy and become passive in the classroom or even dont come in the class because they know that whatever will be taught will be uploaded and they can find the same or better resources then that shown in the class. In this way they stop learning content and go to learn technology instead. Technology loses its novelty over time as its extensive use might make the lecture dull for then it will become a routine. Extra efficient people can surely find something more to do but in this way a little less motivated students will be left far behind and thus a gap will be created. TAL can be of major disadvantage for backward area people in terms of communication gap. The extensive use of technology may cause to lose activeness and brain storming etc. Some were of the view that they even serve as distraction. Some teachers might rely on technology exclusively to make their job quicker and easier, but what one must remember is that a teachers job is never easy. As far as technology is concerned there is a very faint line between education and environment. Teachers should be properly trained to emphasize knowledge and skills related to instructional technology use. Educational institutions in the country should be provided with modern instructional resources to facilitate teaching. The future of TAL in terms of teaching/learning and transfer of information to any individual all of them saw a bright future some even went so far as to suggest that TAL might completely replace the traditional techniques. A revolution might be coming ahead which aims to prepare students for further education and training, jobs of the future and to live and work in a digital world. Some school students ages 9-12 are even now being switched on to some of the most up-to-date technology available, from laptop computers to interactive whiteboards, video-conferencing equipment and even virtual classrooms. TAL should be employed side by side with traditional techniques rather then relying alone on technology. TAL should be employed on a larger scale and everything should be done for its promotion throughout the country. A clear cut line should be introduced so that these technologies and resources are not misused. The daily interaction with technology will help in producing students or le arners being leaders of 21st century.
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