...of US Foreign Policy: An Overview Hang Thi Thuy Nguyen1 1 The Royal Melbourne Institute of Technology, Australia Correspondence: Hang Thi Thuy Nguyen, School of Global, Urban and Social Science, The Royal Melbourne Institute of Technology, Australia. E-mail: thuyhang032003@gmail.com Received: July 27, 2013 doi:10.5430/wjss.v1n1p20 Accepted: August 12, 2013 Online Published: August 13, 2013 URL: http://dx.doi.org/10.5430/wjss.v1n1p20 Abstract This article reviews major theoretical perspectives to US foreign policy as well as on how these theoretical perspectives explain foreign policy decision making and conducting of the US. First, the paper will discuss the process of making foreign policy to sustain US core values and interests which are determined by five major categories of sources (i) the external environment, (ii) the societal environment of the nation, (iii) the governmental setting, (iv) the roles of foreign policymakers, and (v) the individual personalities of foreign policy-making elites (Wittkopf et al 2008, p. 15). Then, the paper will examine the defensive and offensive realism, liberalism, marxism, neoclassical realism, constructivism which can be based on to understand US foreign policy behaviour. It will be concluded that no single theory has the capacity to describe, explain and predict US foreign policy behaviour. A mixture of such theoretical approaches seems to be necessary to obtain a comprehensive picture of US foreign policy...
Words: 4904 - Pages: 20
...Dumisani Yambira 1147585 8/12/2015 [Type the company name] user President Zuma`s letdown approach to deliver a sound foreign policy indicates a failure. Factors of negligence and corruption within top officials have put the South African foreign policy brand into shame on the International relations platform. The failure to observe the policies on the Government White paper associates the current Administration with incompetency. The vocal tone of discontentment by the social forces indicate the State`s inability to perform the policies outlined on the Government`s diplomacy of Ubuntu. South Africa`s role in the COP17 indicates the State`s incoherence on their foreign policy. President Zuma`s Administration did not live to the expectations of the International community and of the locals. The conference expected South Africa to take the lead on the promotion of green technology and encourage renewable sources like wind as outlined on the website of (South African Government White Paper on Foreign Policy 2011). To great disappointment, scholar (Watson n.d.) observed that little support is given to these sources. In 2011, the public campaign of “One million Climate Jobs” demanded for the State to use electricity from wind and solar power (Austin-Evelyn 2011). However the negligence highlight the Foreign Policy`s failure to lure in investors on the climate change program and promote community empowerment. This presents the Government’s failure to meet the demands of civil...
Words: 2187 - Pages: 9
...The experts tell us that it is better for children to begin learning a foreign language at primary school rather than secondary school. I tend to agree and I believe the advantages outweigh the disadvantages. There are several reasonS why I agree [about] WITH this statement. There are several reasonS why I SAY THIS. [FOR THIS]. First of all, [as a matter of fact,] IT IS A WELL KNOWN FACT THAT young children pick up languages much more easily than teenagerS. This is because all babies are born with the ability to learn their mother tongue. So this is why in Malaysia we start[ed] to learn 3 languages right from kindergarten. We have to learn the national language, Malay, the second language, English and my own mother tongue, Chinese. [Moreover,] The second reason is that the primary school TIME-table is more relaxed and flexible. There are more periods allocated to learning [more subjects] LANGUAGES. Conversely, in secondary school, studentS have a lot of co-curriculum activities to participate in and have a lot of examS to prepare for. Therefore, secondary students have more stress and find it difficult to learn a foreign language. However, there are some disadvantages. For instance, some primary school teachers [theirs languages is as] ARE NOT UP TO THE SAME standard as the secondary school teachers IN TEACHING ENGLISH. So, some primary school teachers speak in broken English and children may pick up the incorrect grammar. EVEN WorsE,...
Words: 335 - Pages: 2
...US Foreign Policy The officially stated aims of the foreign policy of the United States, as declared by the United States Department of State and United States Agency for International Department is “to create a more secure, democratic, and prosperous world for the benefit of the American people and the international community.” Moreover, the United States House Committee on Foreign Affairs states as some of its jurisdictional goals: "export controls, including nonproliferation of nuclear technology and nuclear hardware; measures to foster commercial intercourse with foreign nations and to safeguard American business abroad; International commodity agreements; international education; and protection of American citizens abroad and expatriation." So through all this, what Americans are trying to say is that they want to make the world a better place but not without putting their interests first. Therefore, I believe that this policy is far from being great as they want it to be. One of the main issues is that the presidency is overburdened and more than that has too much authority. Presidents have not only foreign policy responsibilities, but sizeable domestic duties too. In addition, the presidency is the head of a political party. As a result, it is tough for one person to manage disparate tasks and more than that, it gives him the opportunity and the advantage of imposing his own views in a subtle way. As well as that, presidents may lack experience. Since...
Words: 816 - Pages: 4
...One of the problems concerning the foreign direct investment is a choice of law that can lead to the prolongation of court proceedings. The government of the Republic of Kazakhstan should introduce a separate legislation for the determination of applicable law in cases regarding foreign direct investment. Kazakhstani courts face this problem when parties didn’t include the applicable law clause in their contract. When such disputes arise courts preliminarily examine the contracts. The problems with defining of applicable law arise when these contracts don’t include the provision of applicable law and one of the parties is a foreign state. “Puis International” v.”GMK Kazakhstan” Open Joint Stock Company is one of such cases in Kazakhstan’s practice with the choice of law cases. Puis International, a plaintiff is a company organized under Israel law and GMK Kazakhstan, a defendant is a company organized under Kazakhstani law. So, one of the parties is a foreign state. The plaintiff claimed to return back money which was given to the defendant in a form of a loan. The parties signed the Agreement on Financial Assistance dated 12 December 1999 and the Agreement on Allocation of Indemnity dated 23 February 2001 but these agreements did not included the terms of applicable law. The Defendant made a motion to Akmolinsk regional court to suspend proceedings for the purposes of proper determination of applicable law in order to determine Israel law in Ministry of Justice or other authorities...
Words: 717 - Pages: 3
...BRAC University Journal, vol. V, no. 2, 2008, pp. 81-91 FOREIGN EXCHANGE RISK MANAGEMENT PRACTICES - A STUDY IN INDIAN SCENARIO Sathya Swaroop Debasish Department of Business Management Fakir Mohan University Vyasa Vihar, Balasore - 756019 Orissa, INDIA ABSTRACT Indian economy in the post-liberalisation era has witnessed increasing awareness of the need for introduction of various risk management products to enable hedging against market risk in a cost effective way. This industry-wide, cross-sectional study concentrates on recent foreign exchange risk management practices and derivatives product usage by large non-banking Indian-based firms. The study is exploratory in nature and aims at an understanding the risk appetite and FERM (Foreign Exchange Risk Management) practices of Indian corporate enterprises. This study focusses on the activity of end-users of financial derivatives and is confined to 501 non-banking corporate enterprises. A combination of simple random and judgement sampling was used for selecting the corporate enterprises and the major statistical tools used were Correlation and Factor analysis. The study finds wide usage of derivative products for risk management and the prime reason of hedging is reduction in volatility of cash flows. VAR (Value-at-Risk) technique was found to be the preferred method of risk evaluation by maximum number of Indian corporate. Further, in terms of the external techniques for risk hedging, the preference...
Words: 5520 - Pages: 23
...Temporary foreign worker program – Tim Hortons Introduced in 2002 and modified in 2007, this program allows employers to hire employees in occupations that usually require at most a high school diploma or a maximum of 2 years of job specific training. Visas maybe issued for 24 months. Employers are required to cover recruitment and return airfare costs, to ensure that suitable accommodation is available, to provide medical coverage until the employee is covered under a provincial plan and to sign an employee/employer contract. The work permit is issued with reference to a specific employer. Employees generally work in sectors such as cleaning, hospitality, manufacturing, oil and gas and construction. (Elgersma, 2007) Tim Hortons "is a company that a lot of Canadians identify with and it is very proudly a Canadian brand," says Howard Ramos, an associate professor of sociology at Dalhousie University in Halifax. "But it's also a company that is a pioneer in hiring temporary foreign workers and so for this reason I think it's important to highlight Tim Hortons as an exemplar of how the temporary foreign worker program has changed and expanded. (Davison, 2012) The temporary foreign worker program has man is a resort companies use to hiring as they will have exhausted all other avenues for finding employees locally. It is a great program mainly for foreign workers who come and work in Canada and if they like it here they can apply for permanent residency. Unlike immigrants...
Words: 2211 - Pages: 9
...China’s Foreign Exchange Management I. The history of China’s foreign exchange management system For a long time China has been implementing relatively strict foreign exchange administration system due to shortage of foreign exchange resources, insufficiency of macro control capability, imperfection of market system. Since China took on the innovative opening-up policy in 1978, China forms a foreign exchange administration profile--“RMB (Chinese Yuan) is convertible for current account items, while partially convertible for capital account ” step by step. China’s foreign exchange reform can be divided into three periods: Exchange regime during the planed economy (1949-1978). A highly centered, planning system was implemented in the planed economy environment. Bank of China was the only specialized bank involving in foreign exchange business. All foreign exchange receipts were obliged to surrender to the state, any purchase of foreign exchange should be included in the state plan. The nation never incurred foreign borrowings or allowed foreign direct investment. Exchange regime during the transitional period (1979-1993). (1) The State Administration of Foreign Exchange, which is authorized for charging foreign exchange control matters under the leadership of the People’s Bank of China, was established. (2) The enterprises were permitted to retain a portion of their foreign exchange earnings. (3) Foreign exchange swap center was set up and developed. (4) The RMB exchange...
Words: 1017 - Pages: 5
...Foreign Exchange The foreign exchange market facilitates the exchange of one currency for another. It is make up of banks, commercial companies, investment management firms, forex brokers, and investors. It is considered to be the largest financial market in the world. This paper will discuss everything from how the foreign exchange market began to the current market. History of Foreign Exchange The foreign exchange market has evolved over the years. From 1876 to 1913, the gold standard was used; meaning countries used gold to back its currency. Each currency was able to be converted to gold at a specified rate. This means that the exchange rate between currencies was determined by how much gold each was worth. The gold standard was suspended in 1914, when World War I began. Some countries temporarily reverted to the gold standard after the war, but abandoned it when the financial crisis of the 1920s hit. Throughout the 1930s the foreign exchange market was considered very unstable, and during this time the volume of foreign trade declined significantly. The next step in the history of foreign exchange would be to agree on fixed exchange rates. This was declared in the Bretton Woods Agreement. The agreement called for governments to set exchange rates between currencies. They were also required to prevent exchange rates from deviating more than 1 percent from the original established rate. This agreement lasted from 1944 to 1971. In 1971, the Smithsonian Agreement changed...
Words: 727 - Pages: 3
...OVERVIEW OF FOREIGN EXCHANGE OPERATION (IMPORT PROCEDURE) OF FIRST SECURITY ISLAMI BANK LTD. & A COMPARATIVE ANALYSIS WITH OTHER BANKS by Taslima Akter ID# 0931048 An Internship Report Presented in Partial Fulfillment of the Requirements for the Degree Bachelor of Business Administration INDEPENDENT UNIVERSITY, BANGLADESH May, 2013 Comparative study of Foreign Exchange Operations of FSIBL 1 AN OVERVIEW OF FOREIGN EXCHANGE OPERATION (IMPORT PROCEDURE) OF FIRST SECURITY ISLAMI BANK LTD. & A COMPARATIVE ANALYSIS WITH OTHER BANKS by Taslima Akter ID# 0931048 has been approved 9th May 2013 ______________________________ Abul Khair Jyote Lecturer, Marketing School of Business Independent University, Bangladesh Comparative study of Foreign Exchange Operations of FSIBL 2 Table of Contents Particulars Page No. Letter of Transmittal 01 Acknowledgement Executive Summary 02 04 Chapter-01 Introduction Overview of First Security Islami Bank Ltd Vision 06 07 08 Mission Strategies Financial Highlights Corporate Information 08 09 10 11 Board of Directors Products And Services Organizational Structure My job Responsibilities Branch Network 12 13 14 15 15 Findings Recommendations 15 16 Chapter-02 Introduction Background of the Report Scope of the Study: Objective of the Study Benefit of the report Limitations of the Study 17 17 18 18 19 19 Chapter-03 Literature Review 21 Chapter-04 Methodology 23 Chapter-5 Foreign Exchange (Import Procedure) Foreign Exchange ...
Words: 10959 - Pages: 44
...Foreign Exchange Sherie Dover, Jason Godwin, Jonathan Haus, John Strange, and Edgardo Zavala University of Phoenix ECO 360, Economics for Business I Harley Sommers July 17, 2007 Foreign Exchange Introduction Recent Dollar Trend The United States dollar began to fall in world currency markets in 2006. Many economists predict that the United States dollar will decline at an even greater rate in 2007. Economists believe that the United States dollar could lose as much as 30% of its value. The debate that a recession may be around the corner is backed by international trade and Federal budget deficits that are anything but under control (Dissidentnews/Worldpress, 2007). The United States dollar began at 88.86 on the FOREX international currency index in January of 2006. 83.67 is where the United States dollar ended at the end of 2006, a drop of about 6%. In 2006, the United States dollar fell 11.5% versus the euro, 13.6% compared to the British pound, and by 7.3% versus the Swiss franc. Central bankers are expected to move away form the United States dollar with regards to their foreign reserve holdings (Dissidentnews/Worldpress, 2007). China the second largest holder of United States debt reduced its purchases of United States bonds by 1.7% in the first 10 months of 2006. Venezuelan, Indonesian, and the UAE said they will invest lees of their reserves in dollar assets. Iran’s switch to Euros may be the greatest threat to the United States dollar. The use of the euro...
Words: 773 - Pages: 4
...00 pm and as a result there is an evident fear about the risks associated with overnight fluctuations in the currency pair. Therefore the functioning as well as the profitability in Indian currency futures is effected by the current performance of the international currency futures market. It is imperative that any evaluation, projection on Indian currency futures market should be undertaken keeping the international market in perspective. KEYWORDS: Currency Futures, Open Interest, Contract Traded, Turnover ___________________________________________________________________________ INTRODUCTION Currency Futures is an agreement or contract, which involves buying or selling one currency for another (foreign exchange), on a specified future date, at an indicated price. Although foreign...
Words: 2651 - Pages: 11
...我国上市公司外汇风险暴露的行业特征研究 ——基于深市行业指数的实证分析 摘要 自2005年7月21日我国汇率形成机制改革以来，人民币持续升值，且波动幅度不断加大，加之中国参与国际贸易的程度不断加深，我国企业的外汇风险暴露问题也日益突出，引起国内外学者的广泛关注。本文结合前人的研究，从行业特征的角度出发，分析汇率波动给不同行业带来的影响有何差异，并结合实际分析造成这种差异的原因。 本文首先对外汇风险暴露的基本概念、分类以及衡量方法进行了理论性的介绍，然后从宏观和微观两个层面分析了企业外汇风险暴露的影响因子，并在此基础上提出了实证分析的基本假设，并利用Jorion的资本市场模型，运用深市行业指数数据，对人民币汇率波动对不同行业指数收益率的影响进行实证分析，结果表明：所选行业中有43%的行业存在着显著的外汇风险暴露，且系数均为正，说明这些行业受到人民币升值的负面冲击；竞争性行业的外汇风险暴露程度显著高于垄断性行业；制造业及其细分行业的外汇风险暴露水平整体高于其他行业，占所有风险暴露显著行业的56%；进口行业从人民币升值中的获益并不明显，出口行业则受到显著的负面冲击。 最后，本文结合我国现实情况分析了我国企业外汇风险暴露的行业特征的成因，发现我国制造业缺乏核心竞争力以及在国际分工中处于弱势地位是导致企业外汇风险暴露出现上述行业特征的主要原因。结合这些成因，本文从企业自身和外部市场条件两个方面提出了相应的对策和建议。 关键词：外汇风险暴露，汇率波动，股票收益，行业特征 Abstract Keywords: Currency exposure, security return, industry characteristics 目录 摘要 2 Abstract 3 1引言 5 1.1研究背景及意义 5 1.2国内外研究现状 6 1.3研究方法与步骤 8 2外汇风险暴露的理论分析 9 2.1外汇风险暴露的基本概念 9 2.2外汇风险暴露的分类 12 2.3外汇风险暴露的一般度量方法 14 2.4外汇风险暴露的影响因素 18 3 我国企业外汇风险暴露的行业特征的实证分析 21 3.1 基本模型和样本的选择 21 3.2 研究假设 22 3.3 实证结果及分析 23 4 结论及建议 25 4.1 研究结论 25 4.2 对策及建议 27 参考文献 30 1引言 1.1研究背景及意义 2005年7月21日，我国对完善人民币汇率形成机制进行改革。人民币汇率不再盯住单一美元，而是选择若干种主要货币组成一个货币篮子，同时参考一篮子货币计算人民币多边汇率指数的变化。实行以市场供求为基础、参考一篮子货币进行调节、有管理的浮动汇率制度。此后人民币兑美元的汇率不再保持稳定而是呈波动升值的趋势，自2005年7月的8.27一路升至2012年一月的6.31，累积升值幅度达23.7%。2012年4月14日，中国人民银行再次发表公告表示，银行间即期外汇市场人民币兑美元交易价浮动幅度由0.5%扩大至1%，外汇指定银行为客户提供当日美元最高现汇卖出价与最低现汇买入价之差不得超过当日汇率中间价的幅度由1%扩大至2%。这一举措有力地推动了人民币的市场化进程，促进人民币汇率的价格发现，为最终实现人民币汇率自由浮动奠定了基础。然而，扩大人民币对美元汇率的波动幅度同样也带来了很多的负面影响，增加了银行管理外汇资产的压力，也将使一些出口加工企业的汇率风险加大，同时，国际短期资本有可能大举外流。 ...
Words: 2030 - Pages: 9
...The impact of domestic determinants on foreign policy has long been a widely debated topic in the field of international relations, and foreign policy analysis in particular. Some scholars argue that domestic politics and foreign policy are two independent arenas of issues. Others believe that the two respective issues do not stop at the water’s edge. Foreign policy and domestic politics are interdependent and could spill over into each other. While both schools of scholars make some convincing arguments about their respective cases, it’s probably reasonable to expect that the degree of influence between domestic and international determinants of foreign policy is contingent on different foreign policy contexts. In some cases, international factors play a more important role, whereas in other cases, domestic reasons are more important. In this presentation, I put forth a conglomeration and an intellectual web analysis in examining the domestic determinants of national foreign policy. Prior to reaching this goal a definition offered by Webber and smith in 2000 on foreign policy is stipulated. The interpretation of domestic determinants as illustrated by Sulliban is furthermore encapsulated. According to Webber and Smith, A country's foreign policy, also called the international relations policy, is a set of goals outlining how the country will interact with other countries economically, politically, socially and militarily, and to a lesser extent, how the country will...
Words: 3397 - Pages: 14
...Employment Of Foreign Workers In Malaysia INDEX 1. Executive Summary 2. Introduction 3. Analysis 4. Challenges 5. Implications 6. Recommendations 7. Conclusion 8. References 1.0 Executive Summary The report investigates on the issue of employment of foreign workers in Malaysia. During the British colonial period in the early nineteenth century, Malaysia was a net receiver of foreign nationals who came to work in the plantations, mines, and construction sectors. Nowadays, rapid industrialization, urbanization, strong economic growth led to labour shortages in rural areas and plantation sectors due to rejection of locals to work in these industries. There are some changes and policy reforms since early 2000 regarding the employment of foreign workers, which includes: Amendments to the Employment Act and Equality in Treatment and Enforcement of Laws. There is also a proposel regarding Foreign Workers Act. The report analyses the advantages and disadvantages of employing foreign workers. Among the advantages are availability of low cost labour, willingness to work for long hours and availability of abundant foreign workforce. Nonetheless, there are also drawbacks to employing foreign workers including rapid expansion of population and increasing in level of unemployment of locals. The main issue is exploitation of foreign worker in Malaysia. Foreign workers are exploited by their employers in different ways, for instance, wage manipulation...
Words: 8266 - Pages: 34
