The story is A Worn Path by Eudora Welty - Free Essay Example

Sample details Pages: 2 Words: 546 Downloads: 10 Date added: 2019/08/12 Category Literature Essay Level High school Tags: A Worn Path Essay Did you like this example? The story is about an older women named Phoenix Jackson, who is a poor black women, she is walking through the woods on her way to town and she runs into thorny bushes, a barbed wire fence and a big dog that knocks her down into a ditch. A Hunter comes to help her out and then she continues into town, where she gets medicine for her grandson that she says is still sick. Thorns, you doing your appointed work. Don’t waste time! Our writers will create an original "The story is A Worn Path by Eudora Welty" essay for you Create order Never want to let folks pass, no sir. Old eyes thought you was a pretty little green bush. The theme of this story can be with determination you can overcome every obstacle. The setting is Christmas time in Natchez, Mississippi, its around the 1930s in the Great Depression era. This contributes to the theme because it was a hard time for everybody and they were facing many obstacles. The conflicts in the story are Phoenix Jackson vs. Nature Obstacles on her way into town Has to travel through the woods Phoenix Jackson vs. Racism/Society Racism was big in that time era (KKK) The Hunter even says to her Doesnt the gun scare you? The good in the world vs. the bad in the world The stories point of view is Third Person Omniscient because the narrator knows Phoenixs thoughts and feelings. With the story being in Third Person we are able to know more about Phoenix Jackson, she is hardworking, caring and determined to help her grandson. We dont know anything about her grandson besides that he is sick. The Hunter in the story is helpful to Phoenix Jackson, but also somewhat racist. There are a few smaller characters like the nurse and the black dog. The tone of the story is sympathetic and hopeful because throughout the story the narrator seems to admire that Phoenix keeps going along. At last she was safe through the fence and risen up out in the clearing. this quote shows how the narrator is happy she was safe. Another quote that shows that the narrator admires Phoenix is, She lifted her free hand, gave a little nod, turned around, and walked out of the doctors office. Then her slow step began on the stairs, going down. There is in the story, an example of situational irony is when the nurse asks if Phoenix is a charity case, this is ironic because Phoenix is not a charity case and is stealing money from the nurse and the Hunter. Another example of situational irony is when the Hunter says Id give you a dime if I had any money with me. this is ironic because the Hunter did give her a dime when it fell out of his pocket, he just didnt realize it. Symbolism The hunter symbolizes racism the marble cake that she dreams of, She did not dare to close her eyes, and when a little boy brought her a plate with a slice of marble-cake on it she spoke to him. symbolizes a blending of blacks and whites. The paper windmill she plans to buy her grandson symbolizes the good in the world. The black dog that knocks her over symbolizes the bad in the world, like enemies and people who just want to knock you down.

Cp Case Study - 962 Words

Ty Taylor ------------------------------------------------- MISM 2301 1. Itemize the nature of the information security breach at ChoicePoint and how this adversely affected the organization. Be sure to include both tangible and intangible losses in preparing your response. [table] Security Breach | Effect on ChoicePoint | A pass of the authentication of customers | * Data soon became available after authentication breach * Revealed hole in ChoicePoint security system * Trust of security standards instantly lost | Social security numbers accessed | * Many individuals lost their SSN to the criminals * More info can be accessed as a result which makes the customer or ChoicePoint more vulnerable to other crimes |†¦show more content†¦What proactive steps by ChoicePoint might deter a reoccurrence of such an information security breach? Explain/justify your choices. [table] Proactive Step | Explanation/Justification | Constant security monitoring need to be implanted and checked constantly | * Any problems need to be consistently monitored by IT department so that any new problems can be identified immediately | All IT components need to be secured | * IT has to integrate their infrastructure with that of the security systems * Any vulnerable areas will be eliminated * ThereShow MoreRelated1. Case Study - Women on the Right Track at Cp Rail3638 Words   |  15 Pages1. Case study - Women on the Right Track at CP Rail Women comprise nearly half of Canadas workforce, but over the last two decades, they have made no progress in obtaining senior management roles. This lack of success may deter younger women from entering certain professions and from learning from role models. Furthermore, research shows that a lack of diversity can affect retention, productivity, and innovation. Companies with more female senior managers have a higher return on equity thanRead MoreThe Theories And Interventions That Can Be Applied For The Srs s Cps Program1393 Words   |  6 Pagesconsidering this case and within the social work profession, there are many theories and interventions that can be applied to the SRS’s CPS program including: contingency, conflict resolution, organizational, systems, and empowerment theories. These theories do not operate alone, instead they are combined with one another. The conflict resolution theoretical approach will be utilized through the task-centered model with evidence of NASW’s Code of Ethics, because this is specific to this case. An ethicalRead MoreStatement of Purpose for a Career in Computational Finance1041 Words   |  4 PagesThe world of Finance is by no means a new concept for me. Watching â€Å"Mad money with Jim Cramer† videos on cnbc.com for his daily stock picks is a ritual. I would study the company’s business model, perform very rudimentary fundamental and qualitative analysis on these picks and if its intrinsic value matched the criteria set, I would add it to my portfolio on Investopedia.com. Apart from this, I also spent a considerable amount of time researching on various stock picking strategies to further strengthenRead MoreStrategic Management-Evaluation of Three Methods4655 Words   |  19 PagesBusiness School, Nottingham Trent University, Nottingham, UK Keywords Learning, Strategic management, Simulation, Action learning, Consultancy Abstract The article examines the use of three learning methods in the teaching of strategic management; the case method, simulation and action learning, in the form of a consultancy project. A survey of course members perceptions of learning outcomes indicates that simulation is the most effective method. 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While the brain damage cannot be healed, the effects it does in the body can be managed with different therapies. CP is considered â€Å"the most common physical disability in children† (Allen CowderyRead MoreBeaver Brothers Case Study1424 Words   |  6 PagesSummary Beaver Brothers, Inc. is conducting a study to assess the accuracy, and consistency of their 150-gram bar soap production line. They are interested in seeking; the reliability, average weight and range of each soap bar. By conducting this study Beaver Brothers, Inc. wants to see the consistency of their machines, dependability of their marketing tools and the level of assurance that they are promoting and supplying trustworthy products to their consumers. Beaver Brother, Inc. achievesRead MoreAdvance Problem #301422 Words   |  6 PagesSummary Beaver Brothers, Inc. is conducting a study to assess the accuracy, and consistency of their 150-gram bar soap production line. They are interested in seeking; the reliability, average weight and range of each soap bar. By conducting this study Beaver Brothers, Inc. wants to see the consistency of their machines, dependability of their marketing tools and the level of assurance that they are promoting and supplying trustworthy products to their consumers. Beaver Brother, Inc. achieves theirRead MoreChild Protection Service 1393 Words   |  6 Pagesevery case of domestic abuse where a child is present, or should child protective services wait till the child is directly involved in the abuse. This paper is going to look at the two sides of whether child protective services should or should not be involved with domestic abuse cases. Also what the consequence of not being involved might be along with the consequences of being involved with added cases. To begin I will look at why child protective services should be involved with every case ofRead MoreThe Structure Of A Health Care Setting Involving Multiple1270 Words   |  6 Pagestheir individual services. Termed inter-professional collaborative practice (IPP), accomplishment is through discussion of cerebral palsy (CP) spastic diplegia, by focusing on a case study of a five-year-old boy called Harry with this condition, and the provision of his health care by various allied health professionals (AHPs). Pathophysiology and Risk factors CP is the most common cause of physical disability in early childhood, resulting from damage to the developing brain either during pregnancy

Trends in Hospitality - 1497 Words

Trends in the Hospitality Industry Nowadays trends are everywhere. You can find them in every industry and they play a huge role. The retro trend in clothing, the SUV trend in the car industry, but nowhere else are trends more important than in the hospitality industry. But what exactly is a trend? A trend describes usually the time measurable course of a development into a certain quantitative and/or qualitative direction. In economics, trends are changes of the behavior of the society. In marketing research this describes the change and development of the consumerism and consumption behavior. In old days it was okay for a hotel to have only rooms and a restaurant. Today a hotel has to have a recreation centre, a beauty farm, a shopping†¦show more content†¦Another good example are the Design Hotels International, which work together with artists. These artists are designing the rooms. Their target group are the designorientated guests. 4. Increasing influence of the internet The development of the internet, which is now more than 30 years old, is rapidly. According to a study from comScore the amount of people who have access to the internet is 694 million. This is a huge target group and the hotel industry realized it. Every hotel has its own website where you can get information about the rooms, menus and activities the hotel offers. And also you can book a room online. Most of the time you will find special offers which are only available online and are much cheaper than if you book by phone. The amount of people booking a room online doubled in the last few years and is today the most popular way to get a room. A lot of hotels are enlisted in so called GDS providers. GDS is standing for Global Distribution Systems. The most popular ones are Amadeus, Galileo, Sabre and Worldspa. But the most popular online reservation system is HRS Ââ€" Hotel Reservation System. Enlisted are more than 180.000 hotels worldwide and it is growing because the online market has a huge potential. The internet is the market of tomorrow. The most risen trend in the hospitality industry is the high quality expectations of the guests. In combinationShow MoreRelatedGlobal Trends in Hospitality7741 Words   |  31 PagesHospitality Management 18 (1999) 427}442 Operational issues and trends in the hospitality industry Peter Jones School of Management Studies for the Service Sector, University of Surrey, Guildford, Surrey, UK Abstract This article makes some predictions about the future by considering operational issues in the rst part of the next century. Hospitality operations management is considered at two levels * the rm level at which strategic operations management takes place; and the unit levelRead MoreEssay on Trends in the Hospitality Indus1441 Words   |  6 PagesTrends in the Hospitality Industry Nowadays trends are everywhere. You can find them in every industry and they play a huge role. The retro trend in clothing, the SUV trend in the car industry, but nowhere else are trends more important than in the hospitality industry. But what exactly is a trend? A trend describes usually the time measurable course of a development into a certain quantitative and/or qualitative direction. In economics, trends are changes of the behavior of the society. In marketingRead MoreTechnology Trends : Changing The Hospitality Industry996 Words   |  4 PagesOverview Technology trends are changing the hospitality industry drastically. Hotel guests are among some of the most tech-savvy people in the world. This issue is leading guests to demand higher standards during their stay at a hotel or resort. Even though the standards are constantly changing and are often difficult for hotels to reach, hotels must do their best to keep up with the latest trends technology has to offer. When guests are looking at hotels to stay at during vacation or whatever theRead MoreCurrent and Future Trends on Hospitality and Management2084 Words   |  9 Pages10 Current Trend in Hospitality and Tourism 1. Economic impact and leakage from tourism Set to become probably the most significant hot-potato issue in the early 21st century. Asian governments will be seeking to maximise that economic impact by first keeping more earnings at home and after that, within the region. That will run up against the increased advances of global multinational groups which will be sending more and more money out in the form of franchise, distribution, management fees andRead More4.3. Global Consumer Tourism and Hospitality Trends The effects of the global calamity may not2100 Words   |  9 Pages4.3. Global Consumer Tourism and Hospitality Trends The effects of the global calamity may not essentially be negative since there are several factors. Australia and New Zealand are Fiji’s most powerful markets and tourists from these nations preferring to take a trip to Europe or the US would usually come to Fiji as the top option if they were to be faced with a financial crisis or travelling threat. Likewise, if travel menaces in,Middle,East or,South,East Asia increases,tourists from,AustraliaRead MoreEssay on hospitality scope size and diversity941 Words   |  4 Pagesï » ¿Unit 1: The hospitality Industry THE SIZE, SCOPE AND DIVERSITY OF HOSPITALITY INDUSTRY The scope of the hospitality industry refers to the range of businesses that provide services and facilities. The hospitality economy is one of the country’s key industries with huge growth prospects in jobs. In employment terms, restaurant are easily the largest sector, closely followed by a pubs, bars and club with the hotel sector growing more slowly, and the contract food service sector holding steady . Read MoreEmerging Industry Practices in Hospitality Operations1237 Words   |  5 PagesEMERGING INDUSTRY PRACTICES IN HOSPITALITY OPERATIONS Dr. Kshitiz Sharma, Email i.d.- sharmak23@gmail.com ABSTRACT Hospitality business is in transition stage, shaping itself better, less expensive, more user and environment friendly and ethical in approach. It’s good for all of them who believe tourism and hospitality a sustainable product. The present study is on emerging trends in operational areas of hospitality and hotels particularly. The scope of the present study is limited toRead MoreExternal Trends1214 Words   |  5 Pagesdecisions; discuss what these environmental forces are and how they would impact on the decisions made by strategic management on the future viability of the business. As well as this, do a brief analysis of the 5 forces driving competition in the hospitality industry using Porters model as the basis of your analysis. If there is a question: †What must be considered for managers in the first stage of business decision making?†, one of the component elements included in the right answer definitely isRead MoreUnemployment And Its Impact On Hospitality Industry Essay1079 Words   |  5 Pages1.1. Introduction Over the last few years, unemployment rates in hospitality industry in south east Spain has continued to grow despite the industry registering increase in the number of tourists arriving in that region. This has resulted in socioeconomic problems that cause stress to the economy and the country at large. It is obvious that there is an urgent need to reverse this trend in order to stem this problem and avoid escalation of the socioeconomic problems to unmanageable levels. The motivationRead MoreThe Fort Garry Hotel1085 Words   |  5 Pages In the ever changing world of the hospitality and tourism there is always the question of what happened in the past and what does the future hold when it comes to trends and ideas for new entrepreneurs who are trying to break into the industry. In one hand we have the story of the Fort Garry Hotel in Manitoba, Canada. This is the story written by Giles Bugaisliskis where he tells us about the beginnings of this historic hotel and how their first owners had an idea and wanted to make it successful

Earning Management - 1159 Words

Earning management is good or not? Introdcution This essay is to examine whether earning management is it good or bad. Though there is so many debate about whether it should be accepted to be good rather than bad, however, this essay will explain the both side of earnings management. Earnings management reduces the quality of financial reporting, it can interfere with the resource allocation in the economy and can bring adverse consequences to the financial market. This essay analyses both, causes and motives of earnings management as well as possible remedies. Therefore, it is not surprising that market participants, legislators, regulators, and academics are concerned with the need to control financial reporting abuses. The†¦show more content†¦Therefore, it is reasonable to assume that earnings restatement firms can be characterized as firms who knowingly and intentionally engaged in earnings manipulation. Financial Reporting Perspective Based on Hanna (1999) article in CA magazine review, important point to get across from this article is that management is tempted to provide excessive unusual, non-recurring and extraordinary charges, to put future earnings in the bank. Furthermore, these future earnings are buried in operations. This makes it difficult for investors to diagnose the reasons for subsequent earnings increases. Investors and analysts look to core earnings, ignoring extraordinary and non-recurring items Implies manager not penalized for non-core charges, such as write-downs, provisions for restructuring. But current non-core charges increase core earnings in future years, through lower amortization and absorption of future costs. As a result, managers tempted to ―overdose on non-core charges, thereby putting earnings ―in the bank also called cookie jar accounting. Conclusions The concept of the earnings management is difficult to define and very subjective to decide. I believe that earnings management not only due to violation of GAAP but also aggressively choose GAAP method that are considered as earnings management. This broad definition may discourage earnings management and benefitShow MoreRelatedEarnings Management3502 Words   |  15 PagesIs earnings management good or bad? Who (or which part of corporate governance mechanisms) is responsible to constrain earnings management? To what extent can the auditor constrain earnings management? Propose some methods for the auditors to detect and constrain earnings management. Does market react to firms earnings management behavior? In order to discuss earnings management and what its affects are on business and whether or not its a good thing, one must first understand what earnings managementRead MoreEarning Management: Is It Good or Not?1167 Words   |  5 PagesEarning management is good or not? Introdcution This essay is to examine whether earning management is it good or bad. Though there is so many debate about whether it should be accepted to be good rather than bad, however, this essay will explain the both side of earnings management. Earnings management reduces the quality of financial reporting, it can interfere with the resource allocation in the economy and can bring adverse consequences to the financial market. This essay analyses both, causesRead MoreEarnings Management Essay1007 Words   |  5 Pagesevidences of managers manipulating the earnings for various reasons. â€Å"Earnings management is the choice by a manager of accounting policies, or real actions, affecting earnings so as to achieve some specific reported earnings objective† (Scott, 2012, p. 423). Managers play an important role in the company because they have control over the accounting policies, thus, the managers can manipulate the income. There are different viewpoints about earnings management. Some people think it will protectRead MoreEthics in Earnings Management Essays1320 Words   |  6 Pagesconcern. With that goal in mind, management must continually report sustained or improved earnings to stakeholders to ensure const ant and new investments in the company’s future (Geiger van der Laan Smith, 2010). The pressure to report positive results can lead management to engage in earnings management activities to alter short-term results to meet the goals set forth (Geiger van der Laan Smith, 2010). In addition to the pressures on company management, broad accounting principles introduceRead MoreFigure Out Weather Earnings Management Is Fraud1822 Words   |  8 PagesSummary The objective of this research paper is to figure out weather earnings management is fraud. I included some information of earnings management first. Earnings management is managers’ accounting choices. Managers may use different accounting techniques to create some opportunities within the boundary of GAAP, so that they can make financial statements look better. I stated the top 5 techniques of earnings management and relevant examples: †¢ The big Bath †¢ Cookie jar reserves †¢ Revenue recognitionRead MoreQuestions On Financial Earnings Management1758 Words   |  8 PagesDichev 1997; Degeorge, Patel and Zeckhauser 1999) identify three earnings thresholds managers seek to achieve when they report financial statements: avoiding negative earnings, avoiding earnings declines, and avoiding negative earnings surprises. A large number of studies use these three earnings thresholds to test earnings management in various research settings. This dissertation investigates another potential earnings management threshold, peer performance, which has been largely ignored in theRead MoreEarning Management4183 Words   |  17 PagesIndustry of UAE Practice Earnings Management Dr. Mohammed Obeidat Introduction It is the right of external users of accounting information to be provided with more adequate information to protect their interests. Many questionable issues concerning the term of earnings management are still available. Auditors, accountants, financial analysts, and other concerned parties may hold the responsibility of detecting external users from the practices of earnings management. Many questionable issuesRead MoreEarning Management4172 Words   |  17 PagesBanking Industry of UAE Practice Earnings Management Dr. Mohammed Obeidat Introduction It is the right of external users of accounting information to be provided with more adequate information to protect their interests. Many questionable issues concerning the term of earnings management are still available. Auditors, accountants, financial analysts, and other concerned parties may hold the responsibility of detecting external users from the practices of earnings management. Many questionable issuesRead MoreThe Practices Of Earnings Management1342 Words   |  6 PagesFrom my point of view, I believe that the different practices of earnings management are misleading to the stakeholders, and it aims at increasing or decreasing the reported earnings based on the executive decisions and what would serve their position in the market. This drives us to ask who the users of the company’s financial statements are. Those are the parties that rely on financial statements for decision making. And they are summarized in the following groups: Employees, Customers, SuppliesRead MoreA History Of Earnings Management1624 Words   |  7 PagesA History of Earnings Management, Financial Scandals, and the Resulting Legislations At the turn of the 21st century, America found itself wrought with multiple financial scandals. The poor decisions of just a few executives resulted in thousands of people out of a job, pension funds wiped away, and houses going back to the bank. While earnings management was certainly not a new concept nor was the resulting fraud, the high number of scandals within a short period of time brought it front and center

Literature questions Free Essays

1. What is the nature of Feudal society in the Middle Ages? How might Aquinas’ concept of Natural Law reflect the more general medieval belief in hierarchy and a hierarchical universe? How does Dante’s Inferno also reflect the medieval belief in hierarchy? In other words, how does the poem structure the punishment of sin in relationship to God’s love (or its absence)? Provide two examples to illustrate this relationship, one early, one late, to show the change as we descend. The nature of Feudal society in the Middle Ages was very much that the roles of people of various classes were very much defined. We will write a custom essay sample on Literature questions or any similar topic only for you Order Now The feudal lords would rule over the peasants and each person’s role in society was defined by his rank and his birth. The concept of Aquinas’ Natural Law philosophy reflects the more general medieval belief in hierarchy and hierarchical universe because this philosophy implies that there is a natural state of things; for example, the poor should be beneath the rich. Also, the concept of what is right versus what is wrong is part of this Natural Law. This idea is evident in the beliefs of the medieval period and within that particular society. In literature this belief is also reflected, such as in Dante’s Inferno, a poem that deals with hell and damnation. In this literature the medieval belief in hierarchy is connected to the idea of man’s sin. The idea of purgatory is important to the medieval belief in hierarchy because it leads one to believe that there is a natural order in the universe as well as on earth. Just as the main character in Dante’s Inferno must go through various stages of hell and purgatory before he can be reconnected with God’s love, so is this seen on earth in earthly institutions and society. 2. What are the key features of Renaissance Humanism? How does it view the capacities of humanity in distinction to the views of the Middle Ages? How might Shakespeare’s Much Ado About Nothing reflect the new Renaissance view of humanity? Renaissance humanism is a philosophical movement that put a great deal of emphasis on what mankind can accomplish. In direct contradiction to the traditional Christian beliefs in Europe at the time, which focused on the sinfulness of mankind and that he was nothing without God, the humanist movement steered people towards the liberal arts and the humanities in hopes that the potential of mankind could be appreciated. This philosophy was almost heretical because it places such an emphasis on beauty, art, and humankind and not completely on God. While the Middle Ages saw all things that mankind accomplished as being, by nature, sinful because of the sinful nature, humanism was all about appreciating what mankind can accomplish. In â€Å"Much Ado About Nothing† by William Shakespeare the ideals of humanism are definitely reflected because of the strong emphasis on the arts and the importance of the individual as opposed to the group. In this play we see a lot of elements that are a precursor to the Romantic era, with the relationships between the lovers and the way that each of the characters interacts with each other. 3. How does the Enlightenment tend to view mankind and society? What do these thinkers believe will promote progress, happiness, and justice? How does Voltaire’s Candide both express and critique these Enlightenment assumptions? The Age of Enlightenment was a time when people were beginning to reexamine the accepted ideals and beliefs of times past. It was a time of reason, when they began to really look for their own answers and not relying solely on the Church to tell them what to believe, or the monarchs. The Enlightenment viewed mankind and society as having free will, not having innate virtues given to them automatically by God. Society was supposed to help create equality, liberty, and fraternity, and even accepted forms of government were reexamined. The thinkers of the Enlightenment believed that true progress, happiness, and justice could only be achieved by creating societies that nurtured mankind’s search for reason and establishing equality among people. In Voltaire’s Candide the writer shows the audience the transition from the beliefs of the Middle Ages to the Enlightenment in the difference between the attitudes of two of the characters. In this story Pangloss sees the world as being naturally right, while Candide feels that it is not fate that makes a persons life, but their own actions. This idea is seen throughout the story of these two characters as they progress through El Dorado, where gold is not worth anything because there is so much of it. This idea is also very rational in nature and reflects the Enlightenment view. 4. How does the Romantic movement represent a revolt against key Enlightenment values? How might Emily Bronte’s Wuthering Heights express some reservations about some extreme Romantic assertions, particularly about the passions of the â€Å"natural† self as opposed to the artificial constraints of civilization? The Romantic movement represents a revolt against key Enlightenment values because it was during this period that there was a shift in values and core beliefs from the logical and rational emphasis of the Enlightenment to a period that focused more on the natural passions of each individual person. While the Enlightenment focuses more on the head, the Romantic period definitely was all about the heart, and people projected that shift in values through their art and writing. Everything about the Romantic period challenged the view that science, reasoning, and society were what needed to dictate one’s actions. Instead, the focus should be on one’s own wants and needs. In a novel like Wuthering Heights, written during the Romantic period, these extreme Romantic assertions were even challenged. In this novel the characters are fighting with their inner passions and their natural selves. The love story between Heathcliff and Catherine is a perfect example of a Romantic relationship: she’s rich, he’s poor, and he is very much the antagonistic type of character and yet she loves him because of what is in her heart. While the Romantic period was all about opposing the artificial constraints of civilization and not worrying about what society dictates but instead depending on their own feelings to dictate them, this novel challenges this by posing questions about whether or not the relationship between these two main characters is really a good one. 5. Andre Gide’s Straight is the Gate, published in 1909, is set in the period just before World War One: in other words, at a time when it was still possible to hold nineteenth-century ideals. Even though Gide was unaware of the catastrophe about to fall on Europe, he still seems to sense that there is something wrong with the bourgeois world of the age. What does the story suggest is wrong with this pre-war world? How might Gide be classified as a modernist? In Andre Gide’s Strait is the Gate seems to suggest that there are problems existent in the pre-war world of Europe, mostly having to do with the bourgeois world of the age and the way that people viewed each other. This story at first glance is a love story that deals with the way that dedication to God can change the way people relate to each other, particuarly in the relationship between Alissa and Jerome, but it shows that the Romantic ideals of the 19th century were still being held onto by many people in Europe. Gide can be classified as a modernist because his style was very modern but, more importantly, his themes were modern in that he was a humanist that was moving away from the 19th century beliefs that were prevalent at the time and dealing with issues in society, especially issues dealing with homosexuality and challenging religious beliefs. How to cite Literature questions, Essay examples

Asia and Africa in the Global Economy

Question: Describe about the Asia and Africa in the global economy? Answer: Summary In the Political Economy Origins of Financial Markets in Europe and Asia by Svetlana Andrianova, Panicos Demetriades and Chenggang Xu, in the year 2010, different economic structures of various countries throughout the continents of Europe and Asia and the impact of such economic structures upon the future aspects of those countries in relation to politics, finances and institutions. In this context the major concerning subject matter is the monopoly in the financial system of a country and also other major factors in relation to the financial system of a nation. In this article various historical evidences from Amsterdam, London, Hong Kong and other countries are specifically discussed in respect of the relation with the role of the concern government in establishing necessary measures for the purpose of economic development. A consensus has been established in relation to the financial growth especially for the purpose of achieving long term goals, it suggests that good functioning baking system and capital market plays a major role in enhancement of the economic structure of a country. The economic structure of the countries differs from one nation to another but the role of capital market in growth of financial system is more or less same as of most of the countries. In the economic culture of London and Amsterdam, a large number of trading monopoly especially to the products is very much noticeable. In this financial system monopoly plays the most significant role. A portion of this monopoly is created by the virtue of the financial system itself for the betterment of public finances; in this regard the system is quite responsible for the main financial innovations, apart from that it also assists to strengthen the rights of the investors as to their properties. In Honk Kong, where the financial system is not very much different to that of the European countries, in this country the model of financial development is mainly based on banking system, a huge monopoly as to the banking system along with close relations to both the governments of great Britain as well as the Chinese one, arranges to economical international trade, performed a same kind of role. The context intends to make some contribution to the economical development by the way of investigating economical origins with relation to political attributes of some of the most triumphant economical marketplace throughout the Asia and Europe. The context concentrated to provide historical evidences mainly from the city London but it also emphasizes upon the aspects of financial system of Amsterdam and Hon Kong, especially the role of the government as an essential part of the financial system. The emergence of the economical system has not appeared in impulsively that secured the rights of the property owners but it was not enough for the development of the financial system of a country (Isard, 2005). From various ancient sources it has been originated that the development aspects of the stock market of London begun from the 17th century and it continues till the mid of the 18th century, it emerged the financial market of London. The rights relating to monopoly has been granted by the public sector, primarily by the Monarch and later on by the Parliament. The public sector was allowed to take the long term loans from the leading joint companies in against their monopoly position. In this article the role of the foreign trade in the economical development is also highlighted, and the leading joint companies who were engaged in conducting their business throughout the world are also taken into consideration. The development of the trading stock of London in the period of 1661 to 1773 has been elaborately discussed under the purview of this context. The rights of monopoly were granted mainly upon three major companies of that era those are; EIC, RAC, and Hudsons Bay Company. Among al l of these three companies East India Company utilized the scope of such rights relating to monopoly to a very good extend, this company used to conduct its business throughout the world, mostly in the sub continental countries (LaBrosse, Olivares-Caminal Singh, 2011). In all the time government played an important role in field of economic development, in containing the stock market of London in the period of 1670 to 1680, the government bodies plays the most important role, though the government had to recognize the monopoly system as well as the rights of monopoly to some companies but it was also for the development of the public sector, as by securing the position of the companies as their rights of monopoly the government ensured a huge amount of loan for a longer term from those companies, which was much required at that point of time for the government to conduct its procedure and regulations as to the public affairs. Monopoly was granted to certain extend that it would not damage the basic economic structure of the nation. In the year 1688 a glorious revolution took place in the financial system of England, because of North and Weingast, it imposes some major changes into the constitutional provisions which shifted the power from the Monar ch authority to the hands of the Parliament. Monarch created an ambiguity among the aspects relating to the wealth of the company and the principals laid down by the Crown, it was very much responsible for the revolution of shifting of powers from the hands of the Monarch system to the hands of the Parliament (LaBrosse, Olivares-Caminal Singh, 2011). It was criticized by many experts that the period of 16th century was very much optimistic in relation to the financial growth of the companies and was not enough satisfactory for the public sectors. In spite of that fact the economical conditions went through all the barriers and established a well formed economic system after the migration of powers from Monarch to Parliament (Claessens, Herring, Schoenmaker Summe, 2010). Amsterdam, London and Honk Kong these three major and big cities of the global era consisting the characteristic of monopoly in banking system but the economical dimensions are not the same it differs from each other to a wide extend (Dept, 2014). Appraisal After the above form of summary of a great article of economical system it can be gathered that the Political Economy Origins of Financial Markets in Europe and Asia by Svetlana Andrianova, Panicos Demetriades and Chenggang Xu, is quite beneficiary for the construction of economic diagram of a country, it almost revealed all the hidden factors relating to financial system of countries of Europe as well as Asia. In this context some very useful information relating to the ancient sources of financial system has been elaborately discussed, which are till date very much authentic as to its implementation and construction of economical dimensions (De Vries, Cruz Mokyr, 2010). The article is also well consisted about the factors relevant to the development of economic sector of a country, especially the countries situated in the region of Europe and to some extend of the region of Asia as well. But depending upon only two economic structures of two different continents is not satisfactory (Spilsbury, 2012). For the purpose of constructing a global economic structure it is necessary to take into consideration most of the countries of near about all continents. Global perspective is much wider in economical sense than the theory dealing with only two continents consisting along with just few major countries like England and Honk Kong. That does not signify the comprehensive nature of the analysis, as to its applicability to the future economical factors (DeMartino, 2000). Political circumstances play the most important role in the field of development of economic structure of a country. The policies of the concern government relating to the economical development of a country put a huge impact upon the financial system of that country. Not only have the policies all the steps taken by the concern government of a country proved an impact upon the financial structure of that countrys economical system. But only the historical evidences are not conclusive to draw a wider picture of global economy, historical and ancient evidences are one of the most important elements in constructing a economic diagram of a particular country but only this elements are not enough for establishment of a good economic principal relating to the financial development of a country. A revolution created in that era suggesting that the power of the monarch have to be shifted from their hands to the hands of the Parliament, but the major principals related to the economical cond itions of that revolution has not been elaborately discussed, for the purpose of drawing a complete scenario of that era relating to the migration of power from monarch to parliament it is necessary to gather all the relevant information relating to such revolution. The financial institutions of all the countries are quite similar but not the same at all aspects, it differs from country to country though the countries belong from the same continent. For that reason the basic structure of all the economic system of different countries are never going to be same, as the factor relating to the economic development are different from one country to another (Aryeetey, 2003). Apart from that the article is mainly focused on the ancient economical structure of the countries of Europe and Asia, these principals are very much ancient in nature and in the present era the financial system of every country has changed a lot and does not even consider the monopoly of any company upon the economic structure of that country, neither the principals of capitalism nor the principals laid down by the crown for that time being (Sawyer, 2005). In spite of all these facts and conditions the evidences provided by the article relating to the financial system is very much acceptable along with some minor modifications. References: Aryeetey, E. (2003).Asia and Africa in the global economy. Tokyo: United Nations University Press. Claessens, S., Herring, R., Schoenmaker, D., Summe, K. (2010).A safer world financial system. Geneva: International Center for Monetary and Banking Studies. De Vries, J., Cruz, L., Mokyr, J. (2010).The birth of modern Europe. Leiden: Brill. DeMartino, G. (2000).Global economy, global justice. London: Routledge. Dept, I. (2014).Republic of Kazakhstan. International Monetary Fund. Isard, P. (2005).Globalization and the international financial system. Cambridge, UK: Cambridge. LaBrosse, J., Olivares-Caminal, R., Singh, D. (2011).Managing risk in the financial system. Cheltenham, UK: Edward Elgar. Sawyer, M. (2005).The UK economy. Oxford: Oxford University Press. Spilsbury, R. (2012).Global economy. Chicago, Ill.: Heinemann Library.

Political Events and Shipping Demand free essay sample

Introduction Modern shipping is the life-blood of the world; without it, much of the demand for imports and exports would not be met. In 2006, world seaborne trade was estimated to have reached 30,686 billion ton-miles, having grown by 5. 5% over the previous year. Despite the prevalence of air transport, up to 90% of world trade is carried over the oceans in humble ships. The demand for seaborne trade is driven primarily by the world economy; various industries produce the goods that need to reach different parts of the world. In its most recent World Economic Outlook , the International Monetary Fund (IMF) forecasted global growth of 3. per cent for the rest of 2008, lower by 0. 2 per cent from the previous month’s estimate. In spite of the dip, the world economy is still growing annually, led by the emerging markets that are hungry for resources to fuel their growth. Beyond the economy, there are several other factors that determine demand for shipping. This paper seeks to evaluate the role of political events and its impact. In addition, it seeks to look into which commodity is most affected by such incidents. In his book, Maritime Economics, Martin Stopford writes that ‘no discussion of sea transport demand would be complete without reference to the impact of politics’. In the following paragraphs, this paper will address the main types of events that affect shipping demand both positively and adversely. 2. 0Political events that have affected shipping demand the most 2. 1Opening-up of the Chinese economy The accession of China into the ranks of the World Trade Organization (WTO) and Beijing winning the bid to host the Olympics in 2001 were events that had large political motivations and caused a tremendous rise in demand for shipping. Since then, China’s economy has seen astronomical growth. In order to fuel this development, the country has increased both its imports and exports in almost every industry. This has taken the world by storm as countries the world over compete to feed and fuel the world’s most populous country. Hence, seaborne trade and demand for shipping worldwide has been skyrocketing as a result of China’s booming economy. 2. 2War and the economic embargoes Conversely, war and economic embargoes and sanctions are the leading cause of a drop in maritime activity. In broad terms, the hostilities in the Middle-East region have led to disruptions in movements of oil shipments to the developed world. In the 1950s, the Suez Crisis between Britain, France and Israel against Egypt, led to the diversion of ships around the Cape of Good Hope to avoid the tensions. Two decades later on 17 October 1973, the ongoing Yam Kippur War caused the Organization of Arab Petroleum Exporting Countries to stop shipping oil to nations that supported Israel’s war efforts. The impact of this embargo on shipping was the collapse of the oil tanker market and led to a series of recessions and periods of high inflation that persisted until the 1980s. Other examples would include the Korean War in 1950 and the Gulf War in the early 1990s. . 0Commodities affected Crude oil accounted for 26. 9 per cent of total goods loaded in 2006. Due to the sheer quantity of oil being shipped worldwide, any political event jeopardizing seaborne trade would usually entail oil shipments being affected. This is because the resource is abundant in only certain parts of the world; the Middle-East is one such region that is plagued with rogue political regimes and instability. In the above-mentioned events in the region, the hostilities resulted in disruptions to the oil trade and consequently, oil price. This would be discussed in the section on Iran. Another sector that would be affected would be the metal industry trades and in particular, that of iron ore. Western Australia and Brazil are major exporters of iron ore to growing markets like China which need it for its continued development. 4. 0Opening of China’s economy Since the 1970s, China has been gradually introducing economic reforms and providing enterprises with autonomy. However, it was only in the last 2 decades that the world’s 2nd largest economy has opened itself up to greater foreign investment and world trade. This was carried out through the relaxation of import and export controls and trade reforms in the form of reduced tariffs. All this led to a significant milestone for China and the world – its ascension into the ranks of the WTO on 11 December 2001. In addition, Beijing won the bid to host the 2008 Olympics that same year. These 2 events have set the stage for China’s rapid development. In the following paragraphs, this paper will explain its effects on the world and global trade and shipping. Based on a working paper by the IMF written in 2004, the international impact of China’s ascension into the WTO is far reaching. Firstly, sustaining the growth of China would provide benefits to its trading partners; beyond the processing of trade, there has been significant growth in imports for domestic use and outbound tourism. Secondly, China’s insatiable thirst for energy and metal imports have since fuelled the rapid rise in imports of such commodities. Lastly, multinational companies are tapping into the large domestic market especially with the freeing up of the country’s banking sector. This paper believes that China’s meteoric rise over the last two decades and more significantly, since the dawn of the new millennia, have created a surge in demand for world seaborne trade and shipping. 4. 1China’s role in transforming Western Australia and beyond As a result of China’s booming steel industry, Australian exports of iron ore to China reached more than A$4 billion last year. BHP Billiton and Rio Tinto, two of the world’s largest resource companies, share the metal-rich Pilbara of Western Australia to feed China’s demand. The latter is hoping to double its 2007 iron-ore production in four years. This mining boom in the traditionally ‘sleepy’ side of Australia spells good news for its economy and residents. In an interview with the Economist , Eric Ripper, finance minister of Western Australia, said that his state has been fighting to bring in a A$9 million surplus seven years ago. Last year, the country’s largest state (by land area) grew by 6. 3%, twice that of the entire country. In addition, it now boasts a healthy surplus of A$2 billion. Besides iron ore, China has a tremendous hunger for other natural resources. All across the world, Chinese firms are finding new sources for crude oil, natural gas, metal and coal. Ships have been queuing off Newcastle in Australia to load cargo bound for China; at one point in June 2007, the queue was 79 ships long . In short, the rise in import demand by the Mainland has helped countries in Latin America and Africa grow their own economy. Another country that has seen business grow is the shipping giant of Greece. 60 per cent of China’s imports of raw materials and energy are carried on the backs of Greek ships. Greek ship owners want to capitalize and many have made orders to build ships in China which has caused the order books of the large manufacturers to bulge and many smaller players to join in the fray. . 2China’s effect on shipping demand In terms of shipping, China is a force to be reckoned with. Just 2 years after joining the WTO, China handled 48 million twenty-foot equivalent units (TEU) in 2003, an increase of 11 million TEUs the year before. This made the country the largest container shipping market for the first time with both Sh anghai and Shenzhen joining the mega-port league of over 10 million TEUs throughputs . On two of the most important container trades from Asia to North America and Europe, mainland China and Hong Kong corner 60 per cent of the market share. More recently, with an increasing portion of China’s imports of oil products coming from Latin America and West Africa, ton-miles demanded associated with this trade has increased. Referring back to the example of Australian iron ore, China’s high volumes mean that Chinese companies are sourcing for metals from further abroad such as Brazil. In addition, China has always been a net exporter of coal. However, in the last few years, China has become a net importer; this forces its neighbors to source for coal from further afield. All these factors serve to increase ton-miles demanded. It is important to note that though ton-miles demanded may increase, actual volume may remain unchanged. 5. 0Iran and the Strait of Hormuz The on-going tension between Israel, the United States of America (USA) and Iran over its suspected nuclear-weapons programme has brought about fluctuations in oil prices in recent times. Several factors have made this all the more pressing in the last few months. These include a weakening Bush administration, Iran’s continued uranium-enrichment programme, a lackluster Western diplomatic approach to handling the situation and Israel’s jitters have raised the idea of a possible war in the Middle-East. In retaliation to suggestions of a military strike, Iran has threatened to cut oil exports and close the Strait of Hormuz . This strait’s importance lies in that it is the only viable path for much of the oil from the gulf to reach the rest of the world. By comparison, the Suez and Panama Canals are passages that have alternative albeit costlier, routes. A horseshoe-shaped body of water that stretches between Iran and the northern tip of Oman, the Strait is the only passage in and out of the Gulf. Every day, around 50 tankers carry between 4 million and 17 million barrels of oil and oil products through the 180km-long strait roughly 40 per cent of the worlds internationally traded supplies . If Iran were able to close this waterway by use of anti-ship missiles, only 3 million barrels would be able to be diverted via the Red Sea. Thus, oil and oil product shipment would be greatly hit worldwide. In addition to oil, Jebel Ali, a port-town in the United Arab Emirates, handles ab out half of all maritime trade between Europe and Asia. Currently, it is the largest port between Rotterdam and Singapore. Large portions of what enters some of these free zones in the gulf are transshipped to other parts of the world. Experts who have monitored the Suez Crisis in the 1950s and how it led to the Six-Day War understand that such an action from Iran would result in the Middle-East suffering economically. On a larger scale, the world would be faced with supply cuts in almost all goods. 6. 0Maritime terrorism Another threat to the maritime industry is terrorism at sea. Terrorism is broadly defined as attacks to create fear and often have an underlying belief that the terrorists want to spread. Since the world-changing September 11th attacks on the United States of America in 2001, many other acts of violence have been carried out with ships as targets. An example would be the infamous Al-Qaeda attack on the French oil tanker, the Limburg, in Yemen in 2002. Such attacks create not only a sense of uncertainty in the shipping industry, but have raised the costs of shipping as well. In the case of the Limburg, the insurance payout reached US$70 million . This example highlights the trend of insurance companies charging higher insurance premiums to shipping companies whose ships sail through more ‘dangerous’ waters. As a result, shipping cost has risen over the years and this has led to a dip in demand. Amongst the main trunk routes that ships often ply, the greatest number of such incidents happens in the South China Sea and the Straits of Malacca. These acts of terror also do not differentiate between the types of ships they target; almost everything from boats to tankers has been looted for their cargo and entire ships stolen. This paper would like to caution that the distinction between maritime terrorism and piracy is blurring. 7. 0Conclusion This paper has looked at examples of how political events have caused a stir in the maritime world. This is largely a result of the correlation between world trade, shipping and movement of commodities. Such incidents can spark both a decrease as well as an increase in demand for shipping. In the case of China’s reforms towards a more open economy, trade between this country and the rest of the world has increased dramatically. This has spurred the shipping industry not just in terms of seaborne trade but in other forms such as ports and shipbuilding. Beyond its shores, it has helped to lift the economies of countries that enjoy a high level of trade with China. On the other hand, the tensions in the Middle-East have brought about uncertainty throughout the world over oil prices and world trade. The strategic position of the most hostile nations in the region has given them leverage over the Western world in terms of threats to block the major waterway, the Strait of Hormuz. Lastly, the concerns over maritime safety and rising insurance costs to cover ships and their owners have caused a dip in demand for shipping. This is because of the higher costs now associated with shipping; it is intuitive yet unfortunate that the world’s major shipping routes are also the most dangerous.