...Topic: China’s financial liberalization Title: China’s financial liberalization and the policy transformation towards openness Author: Xuepan Cheng 4136801 Abstract This paper focused on the research of China’s financial liberalization reform in order to discuss the economic and financial effects casted by financial liberation. Also the article pointed out the current problems of China’s financial system and provided suggestions for implementation. The main argument of policy suggestions for China is to further lower down the financial limits, so that China will be able to build a better foundation for financial liberalization. Also the effective and constant supervision and modification of the financial regulation system is also necessary for maintaining a healthy macroeconomic environment and continuing capital flows. While the economic globalization, and financial liberalization has become a major tendency that attracts a lot of people’s attention in world economic development since the 1980s, the financial liberation and reform has become a necessity for China to develop it’s financial market and economy wellbeing. 1. Introduction China, as one of the fastest expanding economy in the world, is largely owing to the economic globalization, and financial liberalization since the 1980s. Economic globalization refers to the fact that economic resources (goods, capital, labor, technology, information and other transactions) flow from one country to another. This tendency makes...
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...At the same time, the International Forum on Globalization defines globalization as “the present worldwide drive toward a globalized economic system dominated by supranational corporate trade and banking institutions that are not accountable to democratic processes or national governments.” The two definitions vary and so depending on the paradigm, the aspect of globalization can be seen as both positive and negative effects. Nonetheless, globalization has cultural, political and technological factors that are closely intertwined. All these factors are essential to a person’s quality of life, the social costs and benefits brought upon them by the idea of globalization brings about different views on globalization (Gelinas, 2009). This essay is aimed at examining the aspect of globalization in various economic processes and areas to bring out an understanding of globalization. While some theorists are in great support of...
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...period of time. As seen through history, financing has showed that the combination of political and historical factors influence the resulting situation whether it is development or not reflected on its economic growth, by designing a unique path that later will have implications on social issues not being address at first. Depending on the initial situation and a clear idea of the expected results from an entering cash flow to the economy could influence to be a beneficial transference. The purpose of this essay is to discuss the dilemma on whether cross-border cash flows into a financial system increases or decreases economic growth translated somehow in industrialization, mostly from under a economic point of view that takes into consideration the macroeconomic policies, taking this factors as components of development; knowing that there are other social, cultural and political issues that are part of this process that while are not being approached entirely in this essay as poverty and inequality, are indirectly implied as part of the process. First I briefly present the historic trend of political economy that has lead among different stages of the global financial system; second, I refer to theoretical arguments on how financing undermines development. After the World War II there was a striking Keynesian tendency, where the state played a important role to control cash flows within countries; during the 70’s most of world turned into the...
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...freedom of foreign trade and direct investment (FDI) because of the influence of GATT/WTO and APEC and as a result, it further promotes the economic growth of East Asia. The mutual economic dependence of each countries has increased a lot and therefore, close economic cooperation among Asian countries is necessary for healthy economic development. Many countries try to deepen their cooperation by establishing agreement and carrying out negotiation or discussion (Kawai 2004). Besides, the East Asian countries want to have their own institutions where they have vital voice in decision making after the financial crisis. As a consequence, the regional economic integration become an inevitable trend. The structure of this essay is organized as follows. The first part of this essay will discuss the driving forces of East Asia’s regional economic integration, including the failure of the WTO and APEC, and the financial crisis. The second part will illustrate how regional organizations of East Asia are developed in aspect of trade cooperation and financial cooperation and then followed by the difficulties in creating a regional economic union, such as the resistance from the United States and the great...
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...globalization in the past decade. It expands the availability of telecommunication and information; facilitates remote delivery and provides new access and distribution channels; this helps to increase efficiency and cost-effectiveness in conducting economic activity. For example, the use of Internet—Skype, Facetime, Whatsapp etc. makes the world shrink its size as people can simply reach out to people who are miles away. This facilitates growth of economic activities as interaction and connection between people all over the world becomes a lot easier. What’s more, the market liberalization is indeed an important predictor of the success of globalization. Travelling back in time at the 21st century, the scale of capital flows and the interaction of global economic had already remained extraordinarily extensive, including both developed and developing countries. (“Globalisation Effect On Unemployment And Economy Economics Essay”, n.d.), such fierce growth rate of economic activity back then had resulted in...
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...International School of Business – University of Economics Ho Chi Minh RESEARCH ESSAY DINH XUAN LOC EAP5 EAP 5 Essay Topic – September 2015 Economy The United Stated, Vietnam, and ten other countries are working together to reach an agreement called the Trans-Pacific Partnership. Once completed, the TPP will boost the economies, lower barriers to trade and investment, increase exports, and create more jobs for the countries involved. To what extent do you agree with the above statement? Refer to specific examples in your answer. The global economy in the twenty first century has changed rapidly with the trend of trade liberalization. The appearance of some high valuable bi- and multilateral agreements might affect strongly trading activities in the future, especially the Trans-Pacific Partnership (TPP) agreement. This free trade agreement (FTA) is one of the most challenging and largest pacts not only for TPP members, but also for the international exchange. Therefore, the purpose of this paper is to ascertain the direct and indirect effect of the TPP agreement to the worldwide trading. In fact, if the TPP is signed by twelve members, it will boost the development of the global economy significantly, as well as might change the exchange policy around the world. The TPP is a comprehensive agreement, so its provisions cover various sectors of national economy, however, with the limitation of time and specialized knowledge, this paper only assess the outcome of the TPP...
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...This essay was written by our national hero about 100 years ago. So it is probably high time for us to find out how we fared and how close we were to this predictions, and how we can learn from it. Dr. Rizal predicted two options for the Filipino People during his time. First, Filipinas would be considered Spanish territory, but this would happen if and only if the Filipinos were treated with respect and equality under law, and only if liberalization happens. Yes, it did not happen, so the second option, that the Filipinos would shake off the Spanish yoke, came true. So this is what we are going to follow, and we will compare and contrast what Dr Rizal predicted and what actually happened. Dr. Rizal predicted that the revolution would be bloody, and by bloody hell it was. Filipinos fought tenaciously, that is until the Americans came. Dr. Rizal also predicted that the Americans would come, however he predicted that it would be unlikely since "this is contrary to her traditions." However, America did this through cunning and not through direct military conflict, and to hell with traditions! Americans had been hypocrites... And i hope they will no longer be. Reading through the essays of Rizal, one could say that the hero is not just as great writer but a great Historian as well. His essay, The Philippines a Century Hence presents a radical prophesy of Rizal of how the Philippines would be through the century. Rizal presented a clear idea of how our Motherland will...
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...TermPaperWarehouse.com - Free Term Papers, Essays and Research Documents The Research Paper Factory JoinSearchBrowseSaved Papers Home Page » Other Topics Poverty in the Philippines In: Other Topics Poverty in the Philippines POVERTY IN PHILIPPINES AMONG THE COLLEGE STUDENT Hannah Joyrose R. Abgona AAIM-1styr-Section1 ENGL.2 I. Introduction a. Outline I. Title “POVERTY IN PHILIPPINES AMONG THE COLLEGE STUDENT II. a.cause of poverty in the Philippines Poverty in the Philippines: Causes, Constraints, and Opportunities comprehensively analyzes the causes of poverty and recommends ways to accelerate poverty reduction and achieve more inclusive growth. The report provides an overview of current government responses, strategies, and achievements in the fight against poverty and identifies and prioritizes future needs and interventions. The analysis is based on current literature and the latest available data, including the 2006 Family Income and Expenditure Survey. Other cause The incomplete land reform aiming at overthrowing the traditionally unequal agrarian society coupled with lack of support for farmers has been a long-lasting flaw in the governments’ development policies that can still massively reduce poverty in the Philippines. Thus, the role of the state remains central to redistribute more equally the wealth created in the country, in order to avoid leaving the poor behind. Supporting the extremely poor must be seen as a long-term investment...
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...Impact of WTO on Globalization Trade Policy Introduction World Trade Organization (WTO), found in 1995 and headquarters is in Geneva, has its clearly main purposes since its beginning that to promote economic and trade development all over the world. Up to the end of 2008, there are more than 135 members in the organization. In particularly, with the expansion of globalization trade, international business is more often than any time in the history. As one of the most crucial carrier of economic globalization, WTO establishes a set of international trade rules focusing on the liberalization, which play a strong role of encouraging and guiding in the process of economic globalization (Pauwelyn, 2005). This essay will mainly discuss WTO’s influence on the rules of globalization trade in combination with the current reform of trade policy. It will explain the topic from the following four aspects in detail: first, the basic rules WTO set up for the international trade, then, rules on e-commerce, the new rising global business, third, the preferential rules made by WTO for developing countries, and at last, it will discuss the impacts of WTO’s regulations on environmental issues when doing global trade. Basic Rules WTO set up for the Global Trade WTO's main objective is to provide adequate competitive opportunities for the trade among the members, which needs recognized common rules and principles for members to abide. There are two basic principles, namely the MFN principle (referred...
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...Thani family), and UAE (a federation of seven sheikdoms). After the collapse of the Ottoman Empire, the traditional royal families in the Gulf States fell under British control, which sought to secure the route to India and pledged to protect the Gulf region from external aggression in return. Moreover, Britain’s imperial policy empowered the royal families’ authorities and gave them a recognized ruling identity. The arrival of Western oil companies, seeking concessions in the 1930s, further consolidated the authority of the ruling families (Cleveland and Bunton, 2009). This essay will focus on the impacts of oil-abundance on the Gulf states, which more precisely explain the resilience of incumbent regimes. The concept of ‘rentier state’ accounts for the continued survival of absolute monarchies such that democracy is forgone in favour of an authoritarian regime. The main argument of this essay is, however, that a combination of rentierism; and traditional Islamic culture, which are further reinforced by rentierism, elucidate the survival of absolute monarchies in the Gulf in a more accurate fashion. . The Islamic traditional cultures, such as consultation, consensual relationship, and value of stability have also led to the continuance of monarchical system alongside with rentierism. Case for rentierism will then be countered by modernization...
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...stimulated growth in developing countries significantly. It is the nature of capital to move from places where it is plentiful to where it is scarce, provided there is no barrier to cross the border. Return on new investment is higher where capital is scarce. This is an incentive for people to save more (leading to enhanced capital formation) in developing countries as these countries are in general capital poor. For the same reason, foreign individuals and companies seek to invest their surplus capital in developing countries. Thus, this channel in turn, can help the recipient countries to accelerate their growth rate and subsequently improve their living standard (Lieehetta, 2006). In this paper we analyze the impact of Capital account liberalization on GDP growth of 32 countries for the year 2008, details are reported in Appendix 1. This paper consists of six sections. The next section descriptive statistics Section - 3 data sources. Section - 4...
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...Future of Democracy in Africa With the aid of the book, State, Conflict, and Democracy in Africa, I will try to come up with some type of conclusion to the future democracy in Africa. These Africanists that I will mention in my paper have assessed that contemporary Africa has struggled to deal with false starts, unsatisfactory attempts to reconfigure power and varies political reforms. The first theoretical essay is written by Crawford Young on the Third Wave of Democratization in Africa. Young is a Political Scientist, who received a PhD from Harvard and he specializes in development and politics in developing countries, particularly Africa. His works are “The Politics of Cultural Pluralism” , “Ideology and Development in Africa” , and “The Rise and Decline of the Zairian State”. In his essay, Young offers insight on Africa's experimentation on political liberalization. Young starts off by talking about the “third wave” of democratization which hit Africa in 1989 which was seen as a global dynamic. Factors such as modernization, diffusion and power politics helped shaped this transition. In Africa there were deeper structural factors which started first with the economical field. “In dramatic contrast to the aggressive assertion of economic nationalism in the 1970s, a decade peppered with sweeping indigenization programs and widespread nationalism, the 1980 Organization of African Unity Lagos Plan of Action, and the blistering critique of African development performance...
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...constitutional monarchy to a republic. This process was done through many different phases and most importantly through corruption and appealing speeches. I will throughout this essay closely examine some of the most important causes of the Spanish Civil War. Write about the weaknesses of the government and the unstructured Spanish army: • Explain why the why the elections in Spain were corrupt o The rich had the power o The party leaders were easily manipulated by the wealthy. • The government was also weak because the king was allowed to interfere in the progress of electing a new prime minister o Builds on the corruption part above o King had a lot of power • No difference between the Conservatives and the Liberals o No difference means it was only a matter of the party leader to convince other to support them o Weakness is that Spain could only go in one direction with two parties with the same goals and ideology. • Explain how the army had lost support o Army known to be violent o Too many officers and people with power o They changed the system in Spain from a absolute monarchy to a constitutional monarchy The powerful Catholic Church linked to the weaknesses of the government • Explain the how the Catholic Church influenced the education o They were against modernization and liberalization o The rich funded the church and the rich also controlled most of the elections with corruption in form of money o The support of the church was widely spread • Rural...
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...increased borderless society and global market economy (Robertson, 1992; Ritzer, 2004; Wallerstein, 1974/2000; Zetlin, 2001). This essay chronicles a heated debate between supporters of globalization and those who are skeptical about it as suggested by the question that globalization benefits small nations while in sharp contrast these small developing nations find it as beneficial to developed nations. A plethora of case studies will be drawn across the globe in assessing these two contrasting views and in the conclusion a judgement will be passed based on the evidence substantiated throughout the entire essay. The assertion that “while promoters of globalization proclaim that this model is the tide that will lift all boats, while citizens movements find that it is instead lifting only yachts” means that globalization is viewed, conceived and interpreted differently by the rich and the poor countries are very sceptical. Globalization is not different from other theories of development such as modernization and microeconomic structural adjustment adjustments (Jauch, 1996). Globalization benefits the rich nations while developing nations are further pushed to the margin. Wallerstein (2000) argues that globalization creates a global capital system where the core countries exploit the periphery countries. The open market system or trade liberalization has...
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...Introduction Good day,dear friends. Actually, I considered the topic of the presentation for a long time and finally I have chosen inflation in Russia. Inflation, as one of the main macroeconomic issues, is a really urgent problem of today. In some countries the rate of inflation is 5 %.while in others 15%. Today. we will discuss history and modern peculiarities of the Russian inflation. So,here is the plan. Definition Inflation is a sustained increase in overall level of prices, as measured by some broad index (such as Consumer Price Index) over months or years, and mirrored in the correspondingly decreasing purchasing power of a currency.An increase in inflation means an increase in prices. This affects whether or not a consumer is able to afford the higher price. Inflation directly affects the value of the currency because when inflation goes up, the value of a currency goes down, and so does the consumer's purchasing power. Inflation especially affects consumer behavior when wages do not increase to accommodate the increase in prices. As people's inflation perceptions tend to affect their economic behaviour, it is important that they stay close to measured inflation rates the history of inflation in Russia First inflation in Russia was associated with the introduction of paper money or bills. These funds were issued by the decree of the Catherine II. The dominant ideology in the economic environment relative to the coverage of the budget deficit by issuing paper money...
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