...Korea, Malaysia, China, India and Korea are also sizable. Indian, China and Malaysia were second tier exchange in derivative market but growing rapidly. 2.0 Development of Derivative Market 2.1 Malaysia Malaysia start joining the derivative market trading community in October of 1980’s with the launched of crude palm oil futures at Kuala Lumpur Commodity Exchange (KLCE). KLCE was known as the first futures exchange in Malaysia and all of Southeast Asia, established in 1980. In December of 1995, Kuala Lumpur Options and Financial Future Exchange (KLOFFE) were officially licensed as a futures and options exchange, and trading on in its flagship stock index futures. In December 1998, KLCE and Malaysia Monetary Exchange (MME) were merged to establish Commodity and Monetary Exchange of Malaysian (COMMEX). Shortly after, in January 1999, KLOFFE became subsidiary of Kuala Lumpur Stock Exchange (KLSE). In June 2001, KLOFFE merged with COMMEX and form Malaysian Derivative Exchange (MDEX). Later Bursa Malaysia Derivative Berhad has listed in 2005. 2.2 China In 1980’s the relevant department study abroad to prepare and actively preparing for China's futures market .The China Zhengzhou Grain Wholesale Market, was the first commodities futures market opened at China in 1990 October. Due to the reason lack of unified management and understanding in future market and issues like illegal trading, market manipulation, China's futures market is in disarray. In 1993 China state council started...
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... Louis C. Diaz BUS330 Principles of Marketing Instructor: Benjamin Pitts November 10th, 2014 Consumer economy refers to the concept that evaluates an assortment of adjusts in recent consumption stages as well as the alteration taken place in capital, demography and society over a period of time (White, S., 2012). It gives a complete breakdown of variables and social actions that are current in consumer economy. This paper will examine future marketing tactics for new youth oriented consumer economies like those in India and China based on the marketing tactics taken on by United States to cater to youth consumers for the past sixty years. American economy is the world’s largest economy. This country has elevated level economy output and the largest purchasing power equivalence. Suitable tactics assumed by the government did not let the market down even in the 1930’s in the time of recession. The government cut taxes drastically so that the consumer would spend more. Various strategies were implemented in order to even out the economy during the 1930’s to the 1980’s (Mintz & Kellogg, 1989). Years 1945 to 1957 saw a soaring rate of fertility and the birth of countless baby boomers. As a result of this momentous climb in fertility rates, prosperity was decreased; the need for single family homes increased and brought hope for a better future. From 1946 to 1973 the expansion of the American economy was normal while...
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...Lee Takahiro Fujimoto, Jin Chen During the 1990's foreign enterprises from Japan, the U.S. and Europe were entering the Chinese market, and in due course they began to take an interest in China’s automobile industry. These foreign makers competed with each other to explore the promising auto market in China. But academic research has been mainly concerned with the quantity of the investments. An analysis of the change in the competitive infrastructure within the Chinese auto industry has seldom been undertaken. This paper will focus on the impact which globalization has had on the Chinese auto industry. We will evaluate Chinese auto industry policy and foreign investment policy first. Then we will have a look at the change in the investment pattern of foreign makers between the 1980's and the 1990's. We will also distinguish between the competition structures in the commercial vehicles market and passenger cars market. Finally we will classify the types of foreign enterprises that have advanced into the Chinese market. Through all the above analyses we will keep in mind the competition situation facing foreign enterprises in China. This paper is mainly based on the field research undertaken by the authors. POLICY ASSESSMENTS: CHINESE AUTO INDUSTRY POLICY AND THE NINTH FIVE YEAR PLAN The purpose of the Open Door Policy and China's expectations It is well known that China had an open door policy from the end of the 1970's. The purpose was to secure the finance for modernization...
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...1.0 Introduction This report talks about china s accounting systems and how it has developed and changed continuously till present. It looks into the history of Chinese accounting, followed by explaining how the institutional factors have had an impact and is backed up by 2 theorist, Hofestede and Grays model. It identifies the significant changes that occurred during its journey in adapting to the IFRS standards starting from 1949. Culture is a main aspect of china and has been incorporated into its accounting systems as well. To conclude it explains future problems that may arise and whether or not china will fully adapt to the IFRS system. 2.0 Brief history of accounting Previously there was no real accounting system in china with the exception of providing financial reports, therefore the Chinese government wanted to implement an accounting system. In 1949 the people Republic of China (PRC) a communist party came into power and adopted a communist accounting approach from Russia to achieve socio economic development without the reliance on developed nations. 2.1 Significant changes that have taken place 2.2 Great Leap Forward The regime of the Great Leap Forward 1958 – 59 was an effort to strengthen china’s economy, and catch up with the western world, but ended during the Cultural Revolution. A series of natural disasters like shortage of water, starvation led to the worst period in china’s history. 2.3 Cultural Revolution However the Cultural Revolution...
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...and implanted it in 1980. The cause of implementing this was the high chance of overpopulation in China. Before the one-child policy was implemented, the government encouraged its people to have as many children as they can since it was believed that it will empower the country. Then in the early 1970’s the population of china grew to more than 900 million, it was here that the government started to encourage its citizens to marry at an older age and have only two children. There were many possible future states that could have happened if the Chinese population was not controlled properly. If the population was left uncontrolled many effects that would negatively influence different aspects of the nation. Overpopulation remains the leading driver of hunger, desertification, species depletion and a range of social maladies across the planet (Tal, 2013). Overpopulation is the main cause of these different kind of effects mentioned, there are also other effects that can be applied like future unemployment, family mismanagement, etc. Although there are unpredicted and undesired effects on implementing this policy, many citizens of China has now believed that it was a wise decision. One of the unpredicted and undesired effects of this policy is called “the dying rooms”, where children, mostly girls, are sent to because they were abandoned and given to. The numbers of these children have skyrocketed ever since the 1980’s. The cause of this is that in China it is desired to have...
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...Trade Surplus and Trade Deficit China overtakes USA as worlds trading partner China´s Trade Surplus Vs. USA´s Trade Deficit Countries that have open economies are those who carry out economic activities with other countries and trade goods and services. Countries can export, which means selling domestic goods and services to another country or they can import, which means buying goods and services from another country. An economic surplus makes reference to having a positive balance of trade; when a country´s exports exceed its imports. On the other hand, a trade deficit is when a country´s imports exceed its exports and has a negative commercial balance. As the video: “China overtakes USA as a world´s trading partner,” suggests, China currently has a trade surplus. Between 2000-2008 China´s imports have grown 403% whilst its exports have grown 474%. China´s exports are currently higher than its exports due to its economic strategy, which will be explained below. The video explains why China has overtaken the US as world´s trading partner, and thus why China has a trade surplus and the US a trade deficit. American and many other companies are now producing and assembling their products in China due to the low manufacturing costs in this country. It is more profitable for American companies to produce and assemble their products in China not only for the low labor costs, but also for the low transport costs. Even though this harms the US´s economy, companies are, as Rodney...
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...interventionist industrial policy regime at the time of independence, textile industry has been probably the most regulated industry in India. The essence of govt. intervention during independent India has been freezing of capacities of the organized sector, and scuttling of economic incentives for modernization. It is no coincidence, therefore, that the share of the organized (composite) textile mills in total fabric production Has [crest] fallen from almost 80% in 1950-51 to 36% in 1980-81 and to a petty5.4% in 1997-98 and this includes the production from the NTC mills as well as from non-SSI Weaving Units. The number of power looms, on the other hand, has increased from 23,800 in 1951 to 145,800 in 1964, 836,000 in 1985 and to an estimated 1,500,000 in 1998.That there was hardly any modernization in the weaving technology in Indian textile industry is borne out by table 1 below. Table 1 Shuttle less Shuttle Total Shuttle less Shuttle Total India 4426 41026 45452 7968 32761 40729 China...
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...Tiananmen Massacre of 1989 have on China’s foreign relations? Overall: * Focus on the 80’s period * L/t relationship stayed the same * Short-term relationship changed dramatically – attacked to previous perceptions and relations * Still huge attack on psyche Essay should focus on 3 parts: 1. Western bloc (US representing the greater part of the Western Bloc and their relations with China) a. US-China relations: i. Most dynamic – affect Japanese and China relations ii. Not a two way street iii. Defined by the actions of the present and past presidents iv. Pro-China: Mao and Kissinger v. Carter – Human Relations focused Foreign Policies 1. Didn’t apply to China to monitor reliability vi. Nixon – Carter b. Japan: vii. Nixon and Reagan found linking with Japan c. Nixon and Ford took advantage of the China-Soviet Split viii. Got out of Vietnam ix. Played the meditator d. Nixon (1968-1972) + Ford (couldn’t afford due to publicity of post-watergate) + Carter (1966-1980) + Reagan (1980 – 1988) 2. Japan e. Asian State x. L/t cultural difference xi. State in similar territory f. If Nixon assists China – peace through the US (Trade b/w Japan and the US) g. Nervous of China and US relationship h. Schultz – pro-Japan – Reagan Secretary of State 3. Soviets ...
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...however, in reality the modern Chinese family is but a shadow of its past paradigm. The traditional family began to feel the strain in 1949, to fracture in the dreadful-decade of 1969 to 1979 and was finally shattered in 1979 with the double hit of the One Child Policy and the Open Door Policy. No one, at the time, could have possibly predicted or foreseen the cultural upheaval these policies would wrought on China; the former eliminated the large family demographic and the latter permitted not only financial development but foreign-cultural exports many of which are the antithesis of what past generations of Chinese had confronted. Never before has one country had to experience a cataclysmic social upheaval such as China has in the space of three decades; the upheaval is unique because it has concurrently affected three generations. It is the current school and university age Chinese that have to shoulder the dual burden of a longed for and evaporating traditional family structure on the one hand, and, on the other, nurture the future of this great nation. The post 1990's Chinese generation, in most cases, were raised in a household containing not only themselves and parents but also their grandparents. The grandparents are the last children of the Jia period, the traditional family unit: a family that had many members that not only included the grandparents, their children and grandchildren but also the wives of sons and their respective children;...
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...Overpopulation in China Background 1949 The Peoples Republic of China was formed. The population then was made up of mostly workers. The Chinese families were paid to have babies. 1953 The Chinese population had grown to about 583 million people. The Chinese government no longer offered an incentive of pay to have babies. 1963 The Chinese government realized that the families continued to produce babies and they were headed for major problems. The Chinese government came out with, Later Sparcer Fewer Policy. The Policy encouraged Couples to have children later in life, space the births farther apart, and have fewer children. The problem with this policy was that there were already millions of people in China. 1979 Chinese government came up with an extreme plan of the One Child Policy. This policy allows citizens to pick up the birth before the birth of their child. 1980 The Birth Quota System was established to monitor population growth. Target goals were set for each region of the country. Local government officials were responsible for enforcing the population control rules and making sure they did not exceed the the limit they were allotted. Government officials were punished by law and loss of privileges if the pre-established goals were not met. 1980 ( SFPC) Population and Information Research Center was founded. SFPC was established so that different organizations could share information regarding population control. They...
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...Quality Practices in Modern China Issue 1. Do you see any parallels between today’s Modern China and post-World War 2 Japan? What differences are evident? Parallels • Both cultures are rich and traditional, unified or nationalistic, and have similar religions, and values (Padmalingam, 2002). • Rapid urbanisation – the move from an agricultural based society to a manufacturing (and thus urbanised) society. • Democratisation – from a centralised government to capitalist, moving from an insular to outward looking culture. • Both Japan and China have imported their technology, relying upon imitating the inventions and ideas of others. This is changing however as modern quality management is embraced. • Preference for high growth over low growth. Chovanec (2011) says of Post-W2 Japan that “Inflation was low, and there were no external constraints”. Further, he states that Money Supply and Private Fixed Investment factors are paralleled between post WW2 Japan and China today. He infers that this “high growth has spending “out of control”. With such money to spend, quality systems are easily afforded. The subject of Chovanec’s article is that the growth is unsustainable and dangerous, with China set to follow Japan’s lead and head into recessionary financial territory. • Fast growing economies that are encouraged and supported by governments. • Both countries have economically benefited from conflict and wars, as the rate of technology improvement and economic benefit...
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...entirely the result of human action. One of the most polluted nations is China; contrarily, though many Americans fight to protect the environment from such harm, there still exists pollution in our nation, today. Unfortunately, pollution affects everyone; however, children are suffering everywhere from their lack of knowledge of how to protect themselves from such harm, as well as the fact that much of the detrimental effects of pollution in children’s health occurs before they are even born, when they are still in the womb. Negative reports of reproductive health in China prompted scientists to look further. The effects of pollution on the development of children in China and America, though different, are comparable. Pollution in China has increased due to the rapid industrialization of the nation in the past 30 years. According to the World Bank reports in 2007, “of the 20 most polluted cities in the world, cities in China account for 16 of them.” And according to Environment and Reproductive Health in China “Air quality in China is among the worst in the world, with air pollution levels in many cities well above permissible limits, and half of the water resources in China are considered too polluted for human use.” (Weihua et al. 2012) Reproductive health in China continues to be considerably negatively affected as industrialization grows. Due to the abundant population in China and the low working wage, China was forced to rapidly grow, using little precautions when it came to...
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...With reference to a named country, evaluate attempts to manage population change (15) During 1959 China experienced a catastrophic famine due to relaxed population control and the promotion of large families, due to this famine 20 million people died. As a result China’s Communist government under the power of Chairman Mao introduced a number of management policies, including the ‘later, longer, fewer’ program and the more extreme ‘one child policy’. In the early 1970’s a policy known as the ‘later, longer, fewer’ program was introduced. It was the first real attempt to control population growth in China. The authorized age of marriage was raised to 25 for men and 23 for women, whilst couples were encouraged to wait later to begin their families, allow for longer spacing in between children and have fewer children overall. Contraceptive advice became freely available in an attempt to elongate the time before the first child was born. The policy was partially successful. It began to reduce fertility rates, although not fast enough to really slow down population growth due to the demographic momentum that had already developed. The One Child Policy was launched in 1979 when the total population reached 1 billion. The initial goal was to stabilise China’s population at 1.2 billion, but due to the slow effects of the ‘later, longer, fewer’ program and the two child family, had to be revised to keep the population under 1.4 billion until 2010. There were a number of...
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...Did you know that the boy to girl ratio in China is skewed? (source 3) In China boys are more favorable than girls due to they can do more and carry the family name. This is from the one child policy in China. In china you can only have one child under this policy with a few exceptions depending on your race and your location. One child policy is a violation of human rights because it defies multiple guaranteed rights from the UN Declaration of Human rights, including Articles 1, 3, and 5. They are violated because you should be able to pursue your happiness and if that means having more than one child then so be it. Before the one child policy in 1955 Officials in China tried to launch a campaign to promote birth control (source 5). Unfortunately...
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...$35.00 by Carolyn Davidson and the first shoe sold doning the swoosh and the name Nike was a soccer shoe. In 1972, Blue Ribbon Sports changed its name to Nike, Inc. after the winged greek goddess of victory. Later on in the 1970’s the company’s world headquarters were opened up un Beaverton, Oregon. (http://www.theshoegame.com/Nike-History-Timeline-Info.html) Nike- 1980s The company really took off and became well known all across the world in the 1980’s. The company started prodection of their footwear in 11 countries including China, Vietnam, and Indonesia. Famous shoes such as the “Nike Air” Air Force Ones and the Air Aces were introduced. Also in the 1980’s, the famous Nike slogan “Just Do It” came about. The slogan is still a major focal point in the companies advertising and marketing to this day. The success of the Nike took a huge turn in 1985 when the company signed a deal with the world’s greatest basketball player of all time, Michael Jordan. Jordan played a major role in how successful nike is today. The newly introduce “Air Jordan” became popular to basketball players worldwide, whether was at the professional level or the youth level. (http://www.theshoegame.com/Nike-History-Timeline-Info.html) Post 1980 After the 1980’s and the deal with Michael, Nike began to sign other famous athletes to lucrative deals to promote their brand name. Sports greats such as Deion Sanders, Bo Jackson, Charles Barkley, Barry Sanders, And Ken Griffey Jr. teamed with Nike...
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