Ethics in History Film Response Paper Essay Example | Topics and Well Written Essays - 750 words

Ethics in History Film Response Paper - Essay Example Much of the cast consists of Algerians. The film is available in three versions of different lengths: 120, 125 and 135 minutes respectively. This paper attempts to interpret the films political connotation in light of historical developments since the colonial period. Much of the film is a flashback of Ali, the Algerian Front de Liberation (FLN) leader. The flashback begins when the French generals corner him in 1957. Some three years before the French hunt him down, Ali was a mere thief who made the decision to be part of the secretive organization (FLN) with the hope that he could rescue Casbah from the atrocities of the colonial government. Pontecorvo goes to the roots of the liberation struggle and unearths the stringent measures that the French government resorted to in a bid to calm the situation before it reached a national scale. When Ali’s flashback is done with, the French murder generals him alongside other notorious FLN leaders. Thereafter, the film resumes a more general focus that eventually culminates in the independence declaration for the African nation in 1962. Imperialism has been a strange issue to most filmmakers. In fact, Pontecorvo did a great job to highlight some of the thorny questions surrounding Western colonialism in the Battle of Algiers. He paints out the picture of imperialism even as the West is fighting hard to eradicate terrorism and rebel tactics of indigenous people. Pontecorvo drives home the point that even though the French torturous operations earned them defeat against the Algerian rebels during the war, the rebels finally had the last laugh as the French could not hold on to the colony for long. This contrast raises the debate as to whether the use of violent means is effective enough to deal with acts of terrorism currently growing worldwide. The film should not be underrated because of its underlying implications. The United States is particularly on the limelight owing

School Uniforms Essay Example for Free

School Uniforms Essay Many schools in the United Sates are at odds over school uniforms. In many cases, when uniforms are imposed students feel that their rights are being taken away (Kelly). That is the main argument against school uniforms. Although there is this disadvantage to school uniforms, there are many advantages. Along with making the students life easier, school uniforms would also provide for a more comfortable atmosphere and help students to focus mainly on their educations. In order to make uniforms acceptable, parents and teachers must work together to show the positive effects that uniforms could have on each students life. Many students feel that with uniforms they will not be recognized as individuals. Students often feel that their wardrobes define who they are as people. Even though school uniforms do take away a persons right to show his or her individuality through clothing, the advantages certainly outweigh the disadvantages in this case. Students would probably be more accepting of the idea of school uniforms if a more casual style of uniform were adopted than a formal traditional style (Kelly). One of the many advantages would be a more stress-free school week for students. For example, students are usually worried about what they will wear the next day. On average, a student usually spends anywhere from thirty minutes to an hour trying to find something to wear the next day. In this amount of time, the student could have spent thirty minutes studying or gone to bed that much earlier. In addition to saving time, there would be less of an acceptance problem between peers because name brands and styles would no longer matter. School uniforms would also provide for better student/teacher relationships. With uniforms, all students would be recognized as equals. Therefore, both teachers and students would get the respect they deserve. With uniforms, there would be less of a division between peers, and cliques would not be as obvious in the student body. With these things in mind, it is probable that discipline problems would drastically decrease (School Uniforms). As an  added advantage, teachers would be able to focus on the more important things than a students dress code violations (Kelly). Lastly, students would no longer focus on each others wardrobes. Most of the time, students worry about everyone but themselves. Oftentimes this results in the less fortunate or more outrageous students being ridiculed. All of this goes back to the student being accepted. As previously stated, all students would be recognized as equals. Students would be more likely to be judged on their accomplishments before anything else, especially style and appearance, could come into play. This would allow students to focus solely on their educations (School Uniforms). In conclusion, schools with uniforms seem to excel academically. The student bodys perspectives change considerably. They are no longer caught up in the material things; they are forced to concentrate on the matters that really matter. Students could attend school with a clear mind every day and focus on their educations and not each other. In the end, uniforms would be a helpful tool to all educational facilities. Works Cited Kelly, Melissa. Safety in Schools and Uniforms. School Uniforms. 03 Nov 2004. School Uniforms: Where they are and why they Work. 26 Feb 1996. Manual on School Uniforms. United States Government. 04 Nov 2004.

Financial Derivatives Advantages and Disadvantages

Financial Derivatives Advantages and Disadvantages CHAPTER 1 INTRODUCTION BACKGROUND Financial derivatives are often an efficient policy of the risk management as they are been used in modern economy worldwide. Financial derivatives grow on huge scale and very significant into well accepted definitions, measurement and the revelation of the conventional financial accounting essentials. Financial derivatives have many advantages and they have been used worldwide. Though, some risks occur in the use of financial derivatives, the management of the financial derivatives become more essential in the modern economy. With the rapid growth of the modern economy, more financial risks exists during the development process which involves the frequent use of financial derivatives, the use of the derivatives assist against potential risks and use of financial derivatives also reveals to the user a huge risk. Financial derivatives are also important through the progress of financial derivatives. Globally, the world economy is fast growing which is leading to so many difficulties in the financial derivatives worldwide which are creating more problems for financial derivatives. However this problem requires the introduction of regulatory body such as government to take over in order to supervise the financial derivatives. The supervision of financial derivatives plays a vital role in modern economy while lack of regulation in financial derivation will lead the financial market into disorder, chaos and confusion. This might destroy the entire nations economy. Financial derivatives without regulation will attract a big potential economic risk. For the financial market globally, such economic crisis affects the economy worldwide. OBJECTIVES OF THE STUDY The Peoples Republic of China has a huge economy which is growing rapidly. There are various types of financial derivatives in china, which are widely used in the financial market. This research will analyze the financial derivative in Chinas financial market and also discuss the classic supervision (regulations) and the analysis of the performance of the supervision procedure. China financial market, its advantage and the risks that exist in the classic financial derivative in China will also be reviewed. This research will reveal major classic in the various types of financial derivatives in china and verify the uses of all the financial derivatives in order to demonstrate its performance of those financial derivatives. The supervision of financial derivatives will also lead to reviewing the Chinas financial environs. The major purpose of this research is to establish the usage of financial derivatives against the financial derivatives. The findings of the research from both the financial derivatives and role of supervision in China will provide an overall insight in the China financial market and also conclude by making some recommendation on the usage of financial derivation and the status of the supervision of financial derivatives in China. STRUCTURE OF THE RESEARCH This research reviews the overall literature on financial derivative in the past with a focus on the impact of the financial derivative, the benefits of the practise of financial derivative and the potential risk of the use of financial derivative. The supervision of the financial derivative analysis will be reviewed with the use of Journals and report. Subsequently, this research work will focus on the case study for the research methodology; the case study is Chinas financial market. This research model information is gathered from both Chinas financial market and the supervision of the financial derivatives in China. Information is however collated in china using the position of a standard financial derivative in China. Using the position of a standard financial derivative in China, the analysis of financial market in China is reviewed with some journals and reports which were used as the data in support of the research and the most vital data is collected by the Chinese national statistics. The research will use both the qualitative and quantitative analysis method, this used to analyse the research data. From the research of classic financial derivative that is practised in China and the supervision of its financial derivatives. This research will adopt the SLEPT method (Social factor, Legal factor, Economic factor, Political factor and Technological factor) to review the countrys financial markets while the SWOT (Strengthen, Weakness, Opportunities and Threats) method will be used in reviewing the financial derivative in the direction of the Chinas financial market, the functions of the supervision of the financial derivatives in China will also be reviewed. Finally, there will be brief conclusions and provide some recommendations on both China financial for market and supervision of the financial derivatives. The limitations of the study will be highlighted and references for further reading will also be listed at the end of this research. CHAPTER 2 LITERATURE REVIEW THE IMPACT OF FINANCIAL DERIVATIVE Financial derivatives have direct influence on the organization as it is a good policy of risk management. Froot et al (1993) observed that the peak level of investment and capital spending are selected at the same time. They recommend that financial cost risk management should have a particular dominant goal; this enables the company to have access to cash to make price improving investments. The risk management model rely on the fundamental premises that the essentials of establishing corporate value is creating good investment and the essentials to creating good investment is generating adequate cash within, in order to use it to find those investments. Nance et al (1993) and Mian (1994) discover statistically important clear relationship between the tax credits and the practise of risk management instruments. Dolde (1995) reported a clear and an important relation between tax loss carry forwards and the practise of risk management instrument which include hedging. Bhandari (1997) found that calls for supervision through a rise in legislation are not generally accepted. Although the main focus of the supervisory body is that the stability of inter market could be strictly undermined without greater supervision. Guay (1999) studies financial derivatives responsibilities in organizations by initiating derivatives practises. The outcomes were consistent with organization practising derivatives to hedge and not to expand, entity risk. Organization risk is measured in different ways which reduces following the use of derivatives. The study observes a decrease in risks and decisions to introduce derivatives programs vary from hedging. The outcome highlights the significance of hedge accounting laws that incorporate the influence of derivatives and hedged items at the same time. Fender (2000) discovered some basics of corporate finance of monetary economics examine the influence of corporate risk management policies on the monetary transmission system. They employed an easy model of a financial speed up to sort the information asymmetries, they are the core of the entire models of the transmission system, it establish motivation for corporate hedging activities, that is cash flow administration, they realise that these principles, in turn, reduce the influence of monetary policy degree which is lower to the clear cost of capital effect. Billing (2002) described the reasons behind the protection and enlightened on how auditors should review the different problems raised from the utilisation of financial instrument. Heilliar et al (2004) accessed the influence of financial reporting standard 13: Derivatives and different financial instruments, implementations and disclosures which focus is on the treasury department responsibilities. The researchers deliberately conduct interviews with the workers of the UK treasury department in order to review their behaviours towards and observed the impact of FRS 13. At large, the treasurer reply at an advantage to the standard and carefully reviewed the narrative disclosure to be specifically useful. The numerical disclosures were comprehensive and focused. The rapid growth in the financial derivatives also has an influence on Chinas financial market. Ba Shusong (2004) believes that financial derivatives have played a vital role in the growth of Chinas market. Subsequently, El-Masry (2006) stated that big firms often used derivatives than average or smaller firms, public companies often use derivatives than the private companies. The use of derivatives is ultimate in the midst of international firms. The findings reveals that most firms that do not use derivative instrument is attributed to the fact their experiences are not important and the major reasons they avoid derivatives are, they focus on the experiences required by FASB rules under derivatives activity, fees of creating and sustaining derivatives activities go beyond the expected profit, foreign exchange risk is often managed with derivatives and interest rate risk is often managed with derivatives and interest rate risk is risk that is subsequently managed risk and the study reveals that the main reason for the use of hedging with derivatives is supervising the volatili ty in liquidity. Bartram (2006) explores the incentive and use of non financial firms with respect to using options in managing risk activities. The study realized that an important number of 15 55% of the companies not within the financial sector practise the options which shows the fact that options are very flexible risk management instrument which can be useful to hedge different types of exposures both linear and non-linear, it also discovered that it rely on the correlation between price and quantity risk, the optimal hedge portfolio involve different combination of both linear and non linear risk management instruments. The accounting ways and the effects of liquidity can influence the selection of derivatives. Eckstein et al (2008) studied the impact of organization using derivatives which applies Statement of Financial Account Standards (SFAS) no 133; it shows the degree of cumulative effects of differences in accounting formulas from the annual income statement adopted, market response to earnings pronounced and the major effect of financial ratio. The outcome reveals that the important negative unpredicted returns were noticed around earnings pronouncement dates. Abnormal earnings correlate with the cumulative effect instead of the differences in earnings per share from operations which reveals that surprises connected to changes in accounting, it is also established that companies with resources unrealized profit and losses are connected to hedging with derivative instrument. THE MERITS OF FINANCIAL DERIVATIVES There are several advantages of financial derivatives from 1990s McAllister and Mansfield (1998) studies the responsibilities and ability of financial derivatives investment property portfolio management and also focus on the difficulties of direct investment in commercial property. They also analyse and the major principles and all different types of derivatives, they rounded it up that the possibilities of financial derivatives to mitigate most of these difficulties which are connected to direct property investment that are studied. They also decided on Property Index Certificates (PIC) have been narrowed by down with shareholders and ought to produce rise in interest rate and the use of derivatives product within the assets both in the UK and global institutional shareholders. Tyler and Stanley (2002), Counter Sheedys call for further readings through the practical examination of the equity derivatives market in US and UK, quarrelling that while link in this market do, to a certain degree, showing features a typical of broader and indeed inherent, to over-the-counter derivative exchange. After that, Zivney et al (2006) discovers the possibilities of using dividend plans by individual shareholders. This plan was raised from the 2003 tax law changes which reduce tax rates on dividends received while abandoning the short term tax rate on capital losses unaffected. Freeman et al 2006, realize that the credit derivatives market is control by high ranking banks and insurance firms that engage in business among themselves. The growth of credit derivatives market develops into more liquid and transparent. Freeman emphasized that there are various easy and practical ways in which organisation can use credit derivatives to manage risk to show the empirical strengths and weakness of a particular approach. Klimczak (2008) produced a detailed assessment of the main contemporary firms hedging theories. The study focused on a sample of 150 companies listed on the Warsaw stock exchange which shows features shared by companies using hedge. RISKS ATTACHED TO FINANCIAL DERIVATIVES From the above literature review it is no gain saying that financial derivatives are advantageous on risk manages of finance. However, some risk occurs in the operation of financial derivatives. Financial derivatives have been faced with so many criticisms this mostly is due to large loose because of leverage and borrowing. Laker (2008) examined that as the derivatives permit shareholders to earn huge returns from small movement in the basic assets price. Though shareholder might lose more money if the basic asset price moves against them drastically and the financial derivatives might expose shareholders to counter party risk and all types of financial derivatives have different risks at different level to this effect. Also financial derivatives will stand as an unsuitable large amount of risk for little and mostly for shareholders who lack experience as financial derivatives offers chances of huge rewards and so many attractions even to individual shareholders. However, speculation under derivatives most presumes a great deal of risk consisting commensurate experience and good market idea which favours a small shareholders, this is the purpose why some financial advisers are opposing the use of these instruments. Derivatives are complicated instrument as forms of insurance in transferring risk among a ll parties involve which presume an additional risk. Laker further identified that financial derivatives often have a huge estimated value, as a result of that there is a high level of risk and shareholders might lose much without been compensated. As stated by Berhire Hathaway inc. (2002) on the annual report, that there is a possibility that this could result in a chain reaction and subsequently in an economic crisis. Also Rawles (2006), financial derivatives enormously leverage within the economy, which makes it more complex for the basic real economy to facilitate its debt requirement and restricting the real economic functions which often lead to economic recession. THE SUPERVISION OF FINANCIAL DERIVATIVES ANALYSIS The supervision of the financial derivatives should be acknowledged as both the advantage and risk that are present in financial derivatives. Though, there are few journals which analyse the supervision of financial derivatives, in the late 1990s, Shah (1996), identified that in the rise of huge losses from derivatives dealers and end users in modern years, many issues are being highlighted as regards the regulatory structure that is necessary to supervise and control the use of derivatives, it disagree that the principle in which the issue can be resolved by strict internal policies whereas regulators assume it is necessary for more precise oversight is misplaced though it still can be use for hedging, Derivatives involves high risk technology which often pose problems for regulations and its functions. Recently, Kern (2001) identified that the global regulation of financial markets became obvious in the 1970s with regards to post Bretton Woods liberalisation of financial markets. The removal of the fixed exchange rate equal the outcome of gold in the privatisation of finance risk, which established tension to eliminate the functions of cross border capital movements and more deregulation of the financial market. However, there is need for general regulatory body to build safe and reliable financial institutions such as bank through an efficient management as systemic risk in general market. Also it is necessary for international standards of supervision to also be acknowledged to avoid solvent in the financial institutions in one jurisdiction from the business to collapse to a less reputable institutions functioning in other jurisdictions whose rules only allowed cut rate financial services and more risky financial functions. The privatization of financial risk leads to establishme nt of financial institutions to blow out their risks over to many resources and functions which lead to an important rise in short term cross border portfolio asset which could reveal capital importing nation to increase system risk which was cause by volatility of such investments. Gilnen Tabak (2007) established a new substitute for gathering information on risks that exists in financial institutions which assist in analysing the risk tools which are found in risk management. This method assists risk managers, supervisors in analysing the potential risk in financial institutions because of derivatives position. The main idea is the linear financial instrument which is also referred to the traditional method often used by management risk system it assist in decreasing roles in risk factors and defend the responsibilities of financial derivatives while the non-linear instrument have roles with different options which are represented as clear as European options. The study shows the proposed method captured the risk occurrence in policies that consists of options with an accepted error margin. CHAPTER 3 DATA ANALYSIS AND METHODOLOGY CASE STUDY The case study of this research will be the the Republic of Chinas financial market; this research analysis will focus on the Chinas financial market, together with the growth of the socialist market of the real economic structure. Chinas financial market is growing with the ongoing exploration. Currently, Chinas financial Market is essentially established as a pure division of the financial system. Chinas financial Market has started forming and many financial commercial have been developed, this includes Bonds, Stock and commercial bills. The capital loan and a bargain securities markets were established steadily after 1985. During the 1988, treasury bonds were established in the transfer market in major and average cities in china. In 1990 shanghai stock exchange was created and 1991 Shenzhen stock exchange was also created. Both stock exchange in 1999, release 98 A shares and 117 subsidiary shares, increasing 87.7 billion Yuan, which increase the total number of companies listed to 976; the aggregate increase in foreign capital is about US$610Million with the use of issuing B and H shares. China releases 1.5Billion Yuan of A shares which can be transferred into bonds. In 1994, 94.1 billion Yuan was realised from issuing and selling stocks. The level of the transaction in the stock exchange by 1999 surpass 5,000 billion Yuan and it was summed up to about 401.5billion Yuan which was the value of government bonds issued and 191.1 billion Yuan was government bonds value in cash. This fund has successfully improved the financial status of the listed companies and a rise in the sources of money for technological transformation of the public banks and financial markets. In recent years, the financial market in China has been undergoing a rapid growth, Neftci and Yuan, Michelle (2006), stated that China financial markets shows about $2 trillion and are anticipating the market to grow to about $10trillion by 2008, the china financial market continues to expand its investment with a view to ensure that their operations are successful. RESEARCH AND DATA COLLECTION There are different types of financial derivatives found in Chinas financial market which are vital for the growth of Chinas financial market. The use of the financial derivatives has led to many financial difficulties in the rapid growth of the financial system, there is need for regulators to be more effective and implement more laws on the supervision of the financial derivatives. This will help to determine and regulate the stability of both the China financial market and the supervision of financial derivatives in china. Classic materials similar to the financial market and financial derivatives in China will be used as a guide. Other source of materials will be from the internet, textbooks and journals. This research work is structured to determine the supervision of the financial derivatives in China. The China financial market is chosen as a case for the analysis. The source of the main data is from China, National Statistics of China; and few of the firms annual report will be used for the data analysis. This research work will further focus on the nature of the Chinas financial market and the outcome of the financial derivatives in China and the supervision structure of the financial derivatives in China. The SLEPT (refer to Social factor, Legal factor, Economic factor, Political factor, Technological factor) method will be used to examine the general system of the China financial market, it will also focus on the classic findings of financial derivatives and also on China financial system in order to examine the nature of the financial market in China. From the results, the research will be based on the nature of the financial derivatives in China to examine the impact, introdu ction, growth, transactions and practise of the financial derivatives on the Chinas financial market. This research will also examine the supervision of financial derivatives in Chinas financial market in agreement with related articles and also to make some recommendation on the supervision of the financial derivatives in China. DATA ANALYSIS The qualitative and quantitative methods are both used to analyze the data. Under the qualitative analysis method, the materials such as journals and all information gathered from the internet are related to Chinas financial market and the supervision of financial derivatives, the report of the classic financial organisation will all be gathered as part of the qualitative assistance to the analysis. Some major dialogue by the classic economist in China will also be the main issues for the qualitative analysis; this is due to lack of interviews by government officials and financial managers of most firms. Generally, the secondary materials used will be part of the quantitative analysis, which will certainly show the problem of this research. As far as the quantitative analysis method is concerned, data and information will be gathered from different firms. The most significant data is gathered from the China National Statistics. Other information and data are gathered from various reports from different firms. It is difficult to make a questionnaire with this research because the research problem is comprehensive. The major source of information and data are gathered from the internet and few reports from the government are the main structure for the quantitative analysis. The major limitations are the quantitative method in this research is the lack of an individuals observations and analysis on financial markets and the supervision of the financial derivatives. CHAPTER 4 SUMMARY OF FINDINGS CLASSICAL FINANCIAL DERIVATIVES USED IN CHINA China commissioned a model in financial future exchange in 1990s. Ba Shusong (2006) stated that the core financial derivatives are the foreign exchange futures, stock index futures, warrants, convertible bonds and national debt future. Few of them do not function any more, although model is not so successful, it was importance for a lot of valuable experiences. However, with the growth in China financial market, the financial derivatives perform well and will return to China financial market and a fresh product which correspond to the requirements of the growth of economy; this will be additional expansion and will certainly play a vital role in the Chinas financial market. Foreign Exchange futures; Gregory (1995) stated that inside the foreign exchange market, each price in a market is a relative price, which shows an equal rate. In the late 1980s and from the beginning of 1990s, China was completely accommodating for financial derivatives and control method of suitable opened. From 1984, the local enterprises and companies can trade the offshore foreign exchange futures via the stock broking company. This will assist in requirement for hedging of local banks corporations and swap the foreign exchange role. The first ever foreign exchange swap of China exchange market was commissioned June 1992 in shanghai. The transaction in the foreign exchange futures in local have been displayed and developed from time to time. Later on, the Shenzhen foreign exchange centre was due for approval of foreign exchange futures transactions. (Ma Qingquan 2003). Ma Qingquan (2003) later on accessed the inner and external foreign exchange future and realized that they all have some difficulties which enabled the government of Chinese to take a bold step to resolve and restructure the foreign exchange market. From 1993 to 1995, during this era, the Chinese government has continuously ordered the closure of unlawful foreign exchange futures brokerage firms. All the local foreign exchange in China did not operate extensively due to absence of regulators which lead to failure of the implementation. National debt futures; the national debt future is another method of interest rate futures; it is after the most growth of financial futures in China. The national debt future was originally found December 1992 in china. The shanghai stock exchange commission was the first contact of national debt future. In the year 1993, the transaction scope of the general debt futures had been worn out mainly, the individuals and brokers was given access to the market. The Beijing commodity exchange also welcomes the transaction of national debt futures. However, the national debt future was unripe for development; this followed the 314 contract irregularities storm in Shanghai stock exchange in Sept 1994 and 327 contract irregularities storm in February 1995 also emerge. May 1995, concluded the transaction of national debt future which finally collapse. Convertible Bonds; Convertible bonds are part of growing process of the growth of Chinas Stock market. Basically convertible bonds have a slight resemblance with stock options. (A stock option is also known as executive stock options). Little (2008) refer to a convertible bond is a kind of bond that can be switch into shares, bonds in an issuing firm. Mostly a few pre-announced proportion which is hybrid safety with same debt and equity characteristics. Ba Shusong (2006), the convertible bonds have experienced and discovered in over a decade since its first implementation in China, they have been known with many groups and they continue to progress and grow since the growth of the recent social economy of China. The convertible bonds are financial derivatives which agree with state of the growth of China economy. It will grow more and further along with the growth of the Chinas financial market. Warrant, this is a type of derivative protection that gives the owner the ability to buy security direct from the issuer at a given price within a specific period. Warrant are mostly part in a fresh issue which is refer to sweetener this is just to attract the shareholder. Between 1992 to 1996, China has commissioned a lot of warrants, which include sock warrant La Dai Fei, others are Ba oan 93 and Fuzhou East in Shanghai stock market while others warrant was also commissioned in Shenzhen stock market. This include Gui Liugong, Xia Haifa, Min minding, Xiang Zhongyi. However, because of the uncontrolled speculation of warrants, there are important speculations in the drop prices of warrants. The operations of the warrants were dismissed by the national regulatory body in June 1996. The reason for the dismissal is due to the absence of regulators of the financial derivative. Hence, it is observed that the supervision and regulation on all types of Financial derivative is very important than the operation of the financial derivative. As soon as financial derivatives is in operation there is need for government to present a supervision in order to regulate the operations and function of financial derivatives therefore the financial derivatives will grow with health except if it will be dismissed at the closing stages due to the disorder of the financial market. In conjunction with the reform of the part construct of warrants, the issue of the warrants were present in the outline again. This is due to bearish and bullish choices with the features of the warrants. It has been an efficient way in the movement for safety of the interests of investors and simultaneously, it leads to a rise in flexible payment of the price of the movement of non-investors. According to Xu Peng (2007) since 2007, 27 warrants have been registered in shanghai and Shenzhen stock market. Stock Index Futures; In March 1993, stock index futures surfaced in Chinas Hainan securities and exchange center, which showed as Shenzhen composite index and Shenzhen A share index. This is in line with the global practise, such as creation of deposit system. Unfortunately, stock market was not huge enough; the trading activities stopped functioning in the same 1993 due to speculation inside the market. Ba shusong (2006) further stated that 14years after, (April 2007), After the official commissioning of the Future Exchange Management Regulations, the stock index futures has reverted given that it has been compelled to shut down 14years earlier. This revert will certainly become an important discussion for everyone and local institutions. STANDARD SUPERVISION OF FINANCIAL DERIVATIVES USED IN CHINA The standard supervision of financial derivatives in China can be categorise into 3, namely, the Risk management, this is the major body of the supervision of financial derivatives, the core regulator of the financial market which is a vital way to regulate the financial derivatives and the creation of rules for financial derivatives which is protection for the supervision of the financial derivatives. RISK MANAGEMENT This involves the risk management of the market, the risk management of credit, risk management of liquidity, risk management of operation and legal risk management. Risk management of market; this is referred to as the loss in the rise and fall of interest rates, exchange rate and stock prices. Market risk management shows the status of a bank in a market in order to increase the number of frequency and duration of the market estimation. Lu wendao (2007), refer this technique of market risk appraisal used in China financial market is to compute the potential of changes in the market price, the exposure of risk and to grow contingency policies in order to enable the right of assessment and to accept the changes in the market. Risk management of credit; The risk management of credit failure is to implement derivatives agreements or breach of contract of financial derivatives credit risk which means when the financial institutions such as banks decide to emulate a transaction which is in agreement with certain regulations. It is recommended that bank should focus more on risk diversification rather than avoiding more concentration of transactions. The risk management of liquidity; Xu and Peng (2007), man

The Effects of the Chernobyl Accident on International Actions Concerni

The Effects of the Chernobyl Accident on International Actions Concerning Nuclear Power Early in the morning of April 27, 1986, the world experienced its largest nuclear disaster ever (Gould 40). While violating safety protocol during a test, Reactor 4 at the Chernobyl power plant was placed in a severely unstable state, and in a matter of seconds the reactor output shot up to 120 times the rated output (Flavin 8). The resulting steam explosion tossed aside the reactor’s 1,000 ton concrete covering and released radioactive particles up to one and a half miles into the sky (Gould 38). The explosion and resulting fires caused 31 immediate deaths and over a thousand injuries, including radiation poisoning (Flavin 5). After the accident more than 135,000 people were evacuated from their Ukrainian homes, but the major fallout occurred outside of the Soviet Union’s borders. Smaller radioactive particles were carried in the atmosphere until they returned to earth via precipitation (Gould 43). The Soviets quickly seeded clouds to prevent rainfall over their own land, so most of the radioactivity burdened Western Europe, Scandinavia, and the Atlantic and Arctic Oceans (Flavin 12). This truly international disaster had far reaching effects; some of these were on health, the environment, social standards, and politics. As the radiation settled over Europe, it had many effects. Since the Soviets did not alert anyone, Sweden, and to a lesser extent Poland, were the first nations to detect the radioactive cloud (Gould 40-41). By May 3 it had made its way all the way to Northern Scotland, and was also moving down into Eastern Europe (39). As radioactive particles dropped to the Earth’s surface, they were utilized by living orga... ... 1987. Gould, Peter. Fire in the Rain: The Democratic Consequences of Chernobyl. The Johns Hopkins University Press: Baltimore, 1990. Herbert, Douglas. â€Å"Disputed Czech Nuclear Plant Counts Down to Launch.† September 21, 2000. last accessed 5/9/04 at http://edition.cnn.com/2000/WORLD/europe/09/21/czech.temelin/ http://www.cphpost.dk/get/55328.html last accessed 5/9/04 http://www.planetark.com/dailynewsstory.cfm/newsid/16161/story.htm last accessed 5/9/04 http://www.spacedaily.com/news/nuclear-civil-01c.html last accessed 5/9/04 http://www.vanderbilt.edu/radsafe/9702/msg00015.html last accessed 5/9/04 Lungescu, Oana. â€Å"EU to Fund Chernobyl Replacements.† September 26, 2000. last accessed 5/9/04 at http://news.bbc.co.uk/1/hi/world/europe/913125.stm Segerstà ¥hl, Boris (Ed.). Chernobyl: A Policy Response Study. Springer-Verlag: New York, 1991.

A History of How American Culture Lead Us Into Vietnam and Made Us Fight the Way We Did

A History of How American Culture Lead Us Into Vietnam and Made Us Fight the Way We Did, by Loren Baritz, was published by The Johns Hopkins University Press in 1998. It runs to 400 pages in paperback. Baritz has held administrative positions in numerous universities in the United States. He went to the Amherst campus of the University of Massachusetts in the early 1980s as Provost and served as Chancellor for a time in 1982. He is a noted historian and well respected in his field.This book is a different sort of history from the usual in that it deals with the clash of cultures and the differences between those of the United States and those of Vietnam. Baritz shows the mindset of the American leadership, which was instrumental in leading us down the path to a disastrous war that was not winnable from the outset. In three parts Bartitz explains why it was the myths of our invincibility and our belief that a Christian god watched over all of our endeavors which convinced us to contin ue the war.He quotes Herman Melville’s lines concerning the American condition (Baritz 1998 p 26). He paints a portrait of a nation lulled by its own perceptions of righteousness and how apple pie, motherhood and love of Old Glory caused us to think we had the moral right and obligation to foist our system of beliefs on others on the other side of the globe. He shows that the idea of a separate South Vietnam was a total fabrication and had ever had any basis in fact.We intervened in a civil matter between one nation and the egos of our leaders prevented us from admitting it was all a mistake, apologizing and withdrawing with our 58,000 plus dead still alive. We failed to win because we did not understand the mind of the Vietnamese. Baritz says, â€Å"Vietnam finally won its war because it was willing to accept more death than we considered rational,† (325). We had trained a South Vietnamese army to fight like American soldiers, making them totally dependant on American supplies and materials.Therefore, says Baritz, the South Vietnamese were never capable of sustaining the fight on their own. Baritiz’s thesis is that the entire war was doomed from the outset because the American government never understood why the North was fighting or to what lengths they would go to continue the fight. They would never have stopped had we paved the jungle and decimated them. Because of their cultural beliefs the North Vietnamese may not have been capable of stopping. The reunification of their nation was more than a holy war, it was a living, breathing tangible of what they were as a race and a nation.It was imbedded in their psyches that losing was never an option. We never understood that they would fight to the last man standing. In proof of his thesis Baritz says that while our enemy was fighting a war of nerves, using politics and psychology to attack us, along with every other method at their disposal, including the use of women and children, Americ a was lulled, by the idea that this country is the New Camelot, where justice and righteousness are dispensed to all, whether or not they wish to be recipients of our largess.Baritz believes that as the winners of World War II we see ourselves as the champions of democracy, as the New Israel, as God’s chosen. Therefore we believe that with God on our side we are blessed in all of our endeavors. We became the city on a hill (29). We fought the war, Baritz says, in the classic Ugly American way, which is how we conducted foreign policy in Southeast Asia. We did not advise, we commanded, and expected them to obey, for we believed that whether or not they would admit it, all nations wish to be us.Baritz argument is constructed in tiers, giving the read a quick insight into the oriental mind from the first page where he begins by relating the tale of Colonel Chuc who, in 1972, while in a temple in South Vietnam, was given a revelation. â€Å"†¦Colonel Chuc sank into a trance and received a battle plan and a magical sword from the spirit of the Vietnamese general who defeated Kublai Khan's Mongols seven hundred years earlier† (3). That this was effective illustrates just some of the cultural differences between our two countries.Baritz leads the reader through the American administrations from Kennedy to Nixon, and gives insight into the games our bureaucrats played with such figures as the body count of enemy dead. Though Baritz points out that time after time, when government decisions were made there was no follow-up to determine the outcome of those policies, and whether or not they were a success. Still the reader is left with the belief that much of Baritz’s argument, while sound and acceptable, is not as fully documented as it could be.Some of what he has to say seems to be based on well- educated speculation that his ideas are positively the way things occurred during the divisive and disastrous war. His argument that the American p eople had no hatred of the enemy and quickly wearied of the entire operation seems too obvious to dispute, prima facie, yet how is such an assertion proven? It seems to be an assumption. Baritz’s book is an easy and enjoyable read, though scholarly in concept and execution. He appears to be emotionally attached to his subject, but this works in his favor and makes the book more believable.I would think that while this work does not contain all of the nuts and bolts of history, it is still a valuable treatise on the cultural clashes and is gives us a lesson in cultural differences which may have escaped the minds of today’s leadership. Officials in policy-making positions should read this as a matter of course. I believe it was worth my time, and should be used in classrooms. Works Cited Baritz, L. 1998 Backfire: A History of How American Culture Led Us into Vietnam and Made Us Fight the Way We Did Baltimore: The Johns Hopkins University Press

euthyphro and socrates Essay

euthyphro and socrates Essay euthyphro and socrates Essay Good vs Evil Evelyn Jenkins Instructor Jon Stern Phi208 Ethics and Moral Reasoning February 10, 2014 The concept of holiness emerges in the dialogue as Socrates meets up with man of religion, Euthyphro, outside of King Archon’s court. Euthyphro is described as a religious mystic due to the fact that he has made prophecies that came true after many laughed at him when he described these ideas to others. Euthyphro intends to charge his own father with murder, where the possible outcome could be death. Euthyphro uses the examples of doing what the gods’ do- what Zeus did to Cronos, and Cronos to Uranus. Socrates feels that Euthyphro is very intelligent, and would not seek such a charge if he was not so well informed on piety and impiety. Socrates, himself is being tried for impiety, and what better person than Euthyphro, to teach Socrates what is piety and what is impiety. The next part of this assignment is what caused me to read, re-read, and re-read again this story, as I became confused, then more confused, as to what Euthyphro was trying to define to Soc rates. Does he really ever give Socrates the definition of piety and impiety? At first Euthyphro explains that â€Å"What I am doing is pious.†, as he is talking about prosecuting a murderer, his father. But throughout this explanation Socrates turns the tables on Euthyphro, claiming that Euthyphro has yet to prove his father’s actions even constitute an actual murder. Socrates gives Euthyphro another chance to explain the definition, as he feels that was not a valid explanation due to Euthyphro ended up doing nothing more than contradicting himself. Euthypho’s next attempt to define what Socrates is asking, is more what Socrates is looking for, and somewhat more understandable than the, â€Å"it is what I do† response he previous tried to convey. Euthyphro states, â€Å"Piety, then, is which is dear to the Gods, and impiety is that which is not dear to them.† Socrates now brings up that Euthyphro has already spoke about the Gods and their disagreements among themselves as to what may please one God may not please another God, what is dear to one could possibly not be dear to another, and what may displease one God would please the next. With Gods that have many disputes with one another, Socrates again does not have to refute what Euthyphro says, because again Euthyphro refutes himself with his own definition. On his third attempt Euthyphro suggests,† that what all Gods love is pious and holy, and the opposite which they all hate is impious. Socrates refutation is clearly said to the effects of, just because you love something holy does not explain why that is holy, only that whatever it is, is loved. Being holy because something is loved by all gods still does not tell you what that something is, or why it is holy. As I read many times through the dialogue, I could not figure out what the argument was originally. Did he not just want a definition of piety and impiety? Was