Beethovens Symphony No. 9 Essays - Music, Symphony No. 9

Beethoven's Symphony No. 9 Essays - Music, Symphony No. 9 Beethoven's Symphony No. 9 Beethoven's Symphony No. 9 Choral' The 9th Symphony is an amazing piece of music. From the slow opening, to its quick ascent to a powerful clash of instruments, the entire piece is captivating. The incredible part about the entire piece is that from the beginning to the end there is a contrast between soft and loud, always dueling for time. Either there is a strong controlling element running through the music or there is a soft easy melody. The dualism between the deeper instruments playing in contrast to the softer woodwinds makes for an interesting listen. Each time that I have listened to this piece I am always hearing different pieces that I had not heard the time before. The trouble I have had with the piece is that I have a hard time listening to the piece as a whole. Instead I end up hearing either the high pieces or the low pieces, rather than being able to capture the two together as interconnected pieces. Yet, with the excerpts that I have been able to connect the two parts, their differences help unite them into an incredible piece of music. From the onset of the symphony, it appears that the entire piece is based around the conclusion, being Ode to Joy. It seems like everything is just getting ready to build and build into the climax. There being smaller climaxes along the way, but for the most part it is solely preparing the listener for Ode to Joy. The exciting part about the entire piece is that at no time does the listener become lulled into the music and become withdrawn from the music, rather the listener is always attentive to the music waiting and expecting the next note or series of notes, wondering what the composer and conductor have in store. Joseph Glazar November 15, 2000 William Tell This piece by Rossini is a rather devious piece of music. For the most part the listener is put into a position that the entire piece will be rather melodic and peaceful, but in an instant all of that changes and throws the listener for a complete loop. As the Overture warms the listener, one begins to get the idea that a sense of nature is present in the music, with the little chirps from the softer instruments. As the listener continues there begins a low, but ever present rising in intensity coming from all the instruments. From what seemed to be a careless peaceful tone, becomes a menacing and powerful thrust of music. Moreover, as soon as the listener becomes accustomed to the intensity of the music, the composer once again changes it up and softens the mood again. The listener is continuously taken on a roller coaster ride of excitement. The highlight for this listener was the part of the Overture that had been used as the anthem for the Lone Ranger. It is a great example for me of how music can create a vivid memory of life, with it as the background. I have always loved this piece because of how dynamic it was and because of its connection to me as a child. My parents were always trying to find ways for me to enjoy classical music as a child, without creating a distaste for the music. From that I was able to grow into the music. I love the entire piece, and only listen to it in its entirety. The movement through out the piece is very perky, with a little bit of calmness. The listener does not have the opportunity to become complacent with a melody, before it is quickly changed into something that makes one's heart pound. This is an absolutely incredible piece of music. Joseph Glazar November 22, 2000 European History Bibliography The novel that I read for historical reference was that of Charles Darwin's Descent of Man and Selection in Relation to Sex. A.L. Burt Company, Publishers, New York. 1871. p713

The Role of Airplanes during World War I (1914

The Role of Airplanes during World War I (1914 Introduction World War I (WWI)[1] refers to an international conflict that was mainly based in the continental Europe spanning from mid 1914 to late 1918. The conflict engaged all the great nations of the world apparently grouped into two rival coalitions: the allies, which mainly included France and Britain, and the Central Powers mainly involving Germany and Italy.Advertising We will write a custom research paper sample on The Role of Airplanes during World War I (1914-1918) specifically for you for only $16.05 $11/page Learn More Human casualty rate was particularly high due to technological inventions such as the lethal use of warplanes. Primary causes of the conflict entailed imperial, territorial, as well as economic quests of the leading European powers mainly involving the German, British, and the Russian Empires. The killing of Austria’s Archduke Franz Ferdinand in 1914 proved to be the primary spark of the battle[2]. The US was reportedly un successful in inventing an airplane model of it’s own during the war though it also presented its underdeveloped airplane industry to battle with the basic momentum alongside some other ground works for stability purposes. Role played by Airplanes during WWI WWI was the first war to deploy airplanes on a large scale[3]. Tethered surveillance balloons had conventionally been applied in numerous conflicts. They were consequently utilized to locate enemy weapons. Germany particularly used Zeppelins for surveillance as well tactical bombing of the North Sea region of England. Airplanes, primarily reserved for reconnaissance, had just been introduced to facilitate combat activities incidentally by the onset of the war[4]. Pilots, as well as technicians, designed various superior models ranging from bombers, ground-attack airplanes, and fighters based on their experience[5]. Notably, fighter pilots were cherished as contemporary knights who were embraced as public heroes[6]. The ba ttle further witnessed the assignment of top officers to overlook the belligerent states’ air war strategies. Whereas the influence of airplane in the course of conflict was still inadequate, various new ideas were merged in prospective wars. The Aviation Industry The Italians originally deployed airplanes in the late 1911 during the Italo-Turkish War particularly in Libya for the purpose of surveillance and later for dropping missiles, as well as aerial photography[7]. They were afterwards applied for ground attacks besides eliminating opponent planes and anti-aircraft artillery. The trends were eventually adjusted to design fighter airplanes[8]. Mainly the British, alongside the Germans, developed tactical military aircraft. Over the last period of the war, airplanes with HMS Furious attacking Sop were also introduced by the ‘Allies’ in an operation to wipe out the Zeppelin base at Tondern[9]. Surveillance balloons floating deep within the trenches were often u tilized as immobile reconnaissance bases to monitor rival activities besides directing missiles. Highly valued[10] as observation points, balloons represented major targets for the enemy’s air raids. Hence, antiaircraft guns tightly guarded the balloons besides being monitored by allied aircrafts.Advertising Looking for research paper on history? Let's see if we can help you! Get your first paper with 15% OFF Learn More Eventually, the surveillance purpose of balloons alongside blimps led to the emergence of air-to-air conflict among all models of aircraft along with the trench standoff by considering the fact it was impractical to shift vast groups of troops unobserved[11]. Supported by airships, the Germans carried out persistent air attacks in the British territories between 1915 and 1916 with the aim of demoralizing British confidence besides diverting the enemy’s airplanes from the combat front lines. The US Participation in WWI Aviation wa s one of the major challenges during war mobilization. Even though the US flew the first airplane in history, the sector had stalled mainly because of disagreements concerning patent rights[12]. In 1916, when the European nations were dogged in aerial armament contests, the Mexican activist, Pancho Villa[13], engaged the US troops along with its only aerial unit using the first Aero Squadron over its hilly southwestern region. The squadron reportedly outfitted with the finest of the federal military. Six Curtiss JN-2 proved irrelevant as America’s groundbreaking warplane[14]. When the impact of the aerial unit was assessed after the operation, it was noted that, with adequate scheming, an aerial arm might be of indispensable assistance to the ground wings. The federal administration hence unveiled a commission to research on how to advance the military aviation. Nonetheless, the commission faced many challenges since the government selected various distinctive bodies such as the Signal Corp and Aircraft Production Board[15] with equal powers in decision-making. None of them was ready to approve other’s ideas. The federal was also badly in need of a stable industrial infrastructure to jumpstart the sector as opposed to the dozen airplane industries with a maximum of 10,000 accomplished personnel. To ensure growth towards the right direction, the US Congress assigned resources for the sector to endorse growth besides spearheading accords that permitted patents to be acquired by the rival companies thus terminating the patent standoff involving the Wright Company and the airplane society (Johnson 76). Progressively, the Signal Corps created an aerial unit that later became the US Air Service (USAS)[16]. The country was also urgently in need of brilliant aircraft designers such as Anthony Fokker and Luis Blà ©riot[17] to assist in devising a modern warplane. The US Air Service (USAS) The USAS[18] prepared the foundation for US Air Force during, as w ell as after the First World War. Even though the Europe conflicts forced the US Congress to improve funding for the Signal Corps in1916, it later introduced a bill that required the aviation unit to integrate all facets of military aviation[19]. The early 1917 affirmation of combat against Germany also forced the US to find amicable solutions to the prevailing engineering and manufacturing challenges.Advertising We will write a custom research paper sample on The Role of Airplanes during World War I (1914-1918) specifically for you for only $16.05 $11/page Learn More The government further formed a consultative ‘Aircraft Production Board’ that was made up of members of the Army, Navy, as well as the sector to assess the Europeans fortunes in aircraft sector in a bid to upgrade the aircraft devices[20]. After the US formerly joined the conflict, the allies volunteered their aircraft models to guide the sector. However, the English-model De Havi lland DH-4 became the only US-assembled aircraft to partake in the war[21]. The country also exhibited a shortage of pilots and technicians since, in the absence of modern warplanes and familiarity, they were unable to edify themselves in war skills. Nonetheless, contracts were negotiated with the allies late in 1917. Various contingents of pilots were trained at flying centers in France alongside Italy. The earliest US squadrons were ready for duty by April 1918. They were posted in France around Toul where they could ease to duty when called upon to participate. By June 1918, intelligence alleged that the Germans were planning an attack on Chateau-Thierry. Hence, the US ground units were ordered to resist the advance. The USAS, â€Å"headed by the military Commander Colonel Billy Mitchell, also combined a couple of squadrons to form the First Pursuit Group (FPG)†[22] to assist the ground troops. However, the Germans, with numerous superior and experienced squadrons, expecte dly overwhelmed the amateur Americans by hiring old Nieuports. Although the Americans were up to the challenge and were never demoralized, they later proved victorious in assisting to thwart the German invasion though with considerable losses under the command of Mitchell, as well as the help from Allied powers[23]. Halting Pershing’s approach at Saint-Mihiel, Mitchell deployed around three-quarters of the units directly to provide support for ground contingents while the rest concentrated in bombing enemy points on the back line in an attempt to destabilize Germany’s determination on the battlefront[24]. The USAS recorded a successful performance, as Mitchell’s squadrons held air dominance besides witnessing at least 60 victories where they assisted the ground force to recapture the region in the process following the 1914 German incursion. By the conclusion of the war in 1918, the USAS generally had relied on around 45 airplanes to cover about 137 kilometers w hereas 71 pilots were endorsed for bombing an average of five German airplanes during the war. Financial, economic, and production issues of the US airplane industry The US was notably unsuccessful in designing airplanes of its own throughout the First World War era[25]. Nonetheless, the experience guaranteed momentum for the developing sector besides offering numerous aircraft companies a lifeline. In terms of finance, as revealed by, the US entered WWI under the vow that it would rock German skies using the best aerial squadron in existence thus consequently backing the assurance with about $600 million (1).Advertising Looking for research paper on history? Let's see if we can help you! Get your first paper with 15% OFF Learn More However, as opponents alleged, after the conclusion of the war, the US only exhibited 196 home-assembled airplanes in the European battle Front thus rendering the incentive subject to various federal enquiries concerning misuse of huge resources. Besides the 196 DH-4s machines, the country had about 270 aircrafts designed for its training units, 323 under supply bases, and 2000 pending consignment to the western front[26]. Generally, about 3540 fighter airplanes had been manufactured alongside around 6000 training models while a minimum of 1400 warplanes were acquired from Europe. The amount seemed impressive: it was arguably a shortfall. This was upon considering the financial backup that was awarded to the sector besides a maximum of 2000 airplanes that were in record by July 1918. In terms of the economy, following the declaration of war, America never even attempted to deploy its enormous resource potential in the European war (Tucker 26). Instead, it opted to preserve its work force that reportedly exceeded those of all the other nations that took part in the combat. This allowed the US to concentrate on its emerging industrial supremacy, which progressively surpassed the impasse, as well as squalor of the draining battle, which eventually boosted the allies to defeat Germany. Besides being a modern and efficient weapon, the airplane had been originally invented in the US’ citizens. Supported with progress in other economic sectors during the Great War era, it emerged as the country’s greatest input to the WWI operation. Most American WWI era production was tailored on the development of training airplanes of the Britain model[27], De Havilland DH-4 fighters, and airplane equipments. Prior to the mass manufacturing, the US channeled its resources on the invention of a specific European aircraft. Early in 1917, the defense department dispatched the Bolling Commission to Europe to appraise the sector to choose a specific airplane model to be a dopted by the country. They opted for British DH-4 apparently invented by Geoffrey de Havilland. The DH-4[28] was partly favored because Britain approved liberal application of its certificate for the automobile, but not because it was superior to French airplanes, which obligated royalty compensation. Although the Aircraft Production Board (APB) did accept criticism of the decision to limit producers to one model, the mandate was eventually revoked though it was too late and never influenced the war[29]. During the era, federal law recommended that the administration must not solely depend on private producers to supply their aircraft equipments. This accordingly resulted to the formation of the Philadelphia based Naval Aircraft Factory (NAF) by 1971 to invent and manufacture wartime airplanes besides putting private companies in costs alongside profit check. Although the private sector attempted to thwart its development, the NAF efficiently invented and manufactured a variety of naval airplanes such as the Curtiss H-16s, flying boats, and corresponding spare parts. Apart from the development exhibited by the established aircraft industries, a range of emerging manufacturers sprung up throughout the war era including the Dayton-Wright Company, the Lewis and Vought, and the Aero Corporation. 31 airplane companies were recorded at the end of the conflict in 1919. Nonetheless, at its best, wartime service was estimated at 175,000 while manufacturers produced at the level of above 12,000 airplanes annually by the conclusion of the war. Massive contracts for assembling the DH-4 were awarded to various companies including Dayton-Wright, Glenn L. Curtiss, and Fisher Body among others. Although critics argued that these manufacturers lacked the basic know-how while more reliable groups had been overlooked besides alleging the manufacturers of inflating costs in an attempt to gain unfair profits. Generally, the total amount of the US-assembled DH-4s was limited with most American troops in Europe relying on the French-made airplanes to oversee their expeditions. By the time the federal administration hoped to intervene, pungent patent lawsuits had been proceeding for almost a decade. The government mobilized the rival producers to create the Manufacturers Aircraft Association (MAA). The union members exhibited cross-licensing accords, which permitted producers to utilize the ideas that their counterparts had invented though at a fee, which depended on the value of the involved technology. Federal law during the era recommended that the administration must not solely depend on private producers to supply their aircraft equipments. Conclusion Finally, WWI remarkably signaled the fall of European supremacy that had spanned for over five centuries. As discussed, the airplane industry played a crucial role in fueling the war following the support it offered to the victim countries. As the European nations concentrated on the domestic disastrous comb at, others continents successfully fulfilled and reduced their vitality by making up for their imports and knowledge. The US particularly for the first time rallied its vast industrial capability to intervene beyond the American region. America’s involvement in the First World War was notably limited. By the period the nation joined the battle, aviation technology had already advanced far much ahead. Still, the US with an exceptional magnitude of moral energy along with determination managed to assist in ensuring success for the allies over last months of the battle following the support of the airplane industry as discussed. Moreover, it also acquired the highly needed aviation technology from the brief combat stint coupled with a federal passion for flying, which eventually provided the groundwork for the US Golden Age of Flight (GAF). Chambers, John. The Oxford Companion to American Military History. New York, NY: Oxford University Press, 2000. Print. History SparkNotes. World War I (1914–1919), 2012. Web. Johnson, Herbert. Wingless Eagle: U.S. Army Aviation through World War I. North Carolina, NA: University of North Carolina Press, 2001. Print. Tucker, Spencer. World War I: A D., Volume 1. Santa Barbara, CA: ABC-CLIO, 2005. Print. Zimmerman, Robert. â€Å"How We Won the War (With Tools Commonly Found in the Shop). The Model Aircraft Project.† Journal of American Culture 8.4(1995): 51-58. Print. Footnotes Also called Great War This aroused the anger of the many alliances that had already been established It was only 13 years after the first airplane had been developed Robert Zimmerman, â€Å"How We Won the War (With Tools Commonly Found in the Shop). The Model Aircraft Project.† Journal of American Culture 8.4(1995): 51-58. Print. They were new to this technology with many not knowing the exact use of airplanes, leave alone using them in the war Herbert Johnson, Wingless Eagle: U.S. Army Aviation through World War I. North Ca rolina, NA: University of North Carolina Press, 2001. Print. Zimmerman 53 They were believed to work well with two wings for easy lifting They were primarily used to carry bombs Johnson 64 Spencer Tucker, World War I: A D., Volume 1. Santa Barbara, CA: ABC-CLIO, 2005. Print. John Chambers, The Oxford Companion to American Military History. New York, NY: Oxford University Press, 2000. Print. He was initially a gangster who contributed a lot towards the Mexican revolution during 1911 and 1923 when he died Zimmerman 54 The service was a very active US airplane service during the WWI. Its well known for assembling the first aviation body squadrons in the US between 1914-18 â€Å"This was the forerunner of the US during after the WWI† (John Chambers 14) They were experts in the field of aviation to the level of publishing the book ‘Early Birds of Aviation’ to give a picture of the airplanes used during WWI Made in September 1917 The then aviation body was inadequate and could not help much in the war Chambers 67 However, this was not again efficient , as it could not meet the US’ expectation during the war Tucker 9 Tucker 19 Johnson 74 It lacked competent people in the aircraft designing sector and hence the need to train more This step confirmed the US’ efforts to take control of the war using its well-up aviation industry This was after the US performed poorly in Mexico, a situation that pushed it to come up with finer strategies in a bid to gain a competitive edge over the European aircraft designers These were the most popular as they were numerous though only 1213 were taken abroad while 1087 being assembled History SparkNotes, World War I (1914–1919), 2012. Web.

Corporate Social Responsibility and Profit Essay

Corporate Social Responsibility and Profit - Essay Example This paper illustrates that followers of CSR on the other hand state that being socially responsible is more important because of the social contract, as well as the argument that CSR can actually increase profit. Others in favor of CSR say that it is already an obligation, and the issue is simply one of finding ways in which companies can act in ways that are socially responsible. Even companies who agree that CSR is important often have problems putting CSR principles into practice. The main critics of CSR claim that standards of living have greatly improved over the past 100 years and that this improvement is a result of â€Å"the success of free enterprise†. Critics of CSR attack those in favor of it by saying that profit is a needed and helpful advantage of business because it is this very profit which allows businesses to put funds into helping society. The reduction of profits gained by companies caused by CSR can actually have bad effects on society because lesser prof its mean less ability to help society. If companies spend more time paying for functions that make them socially responsible, they will not be able to focus on the profit which is important for shareholders. Without shareholders, the company does not exist, and so it cannot help society by giving it funds. Many people in favor of CSR say that many business ethics of big corporations are unethical, but critics reply by saying that it is unethical for managers to think of anything else than maximizing shareholder profits. Also, making companies responsible for many different aspects of society risks managers and directors being distracted. Critics also say that there is a big difference between taking account of society’s interests and being accountable for society’s interests; only the former element should be imposed on managers and businesses.

Book reflection Assignment Example | Topics and Well Written Essays - 1250 words

Book reflection - Assignment Example Perhaps Thomas King is right because after all the stories of the Old Testament still profoundly interest and shape every new generation that is born, even though the actors who had once acted out these stories and even the stage are all gone. Thus, the stories of the Native Americans continue to instil a sense of the Native American identity and culture in these people, even though, ironically, King knows that very few people know how their lives hinge on them knowing about a story. It is the stories of the past that cause the Native Americans to maintain a firm base in places, even though with the intermingling of nations and the passage of time, those who had maintained roots in a place are there no longer. Thus, even today, a Cherokee from Oklahoma maintains a longing for the Alberta prairies, which were according to the stories, the home of the Cherokee and the border between the United States of America and Canada remains somehow artificial (King, 2003). King writes, â€Å"the border doesn’t mean that much to Native people in either country. It is, after all, the figment of someone else’s imagination†, despite the fact that the two colonial states on either side of the border completely changed the lives of the Native Americans and the border today is extremely significant. The word â€Å"we† in the statement â€Å"The truth about stories is that that’s all we are† presents strong intra-cultural and cross-cultural connections, because perhaps the stories of the Native Americans also have some meanings for others who came from afar to live in the new land with their own stories. Thomas King writes â€Å"What‘s important are the stories I‘ve heard along the way. And the stories I‘ve told. Stories we make up to try to set the world straight† (King, 2003). Only if somehow the stories belonging to every nation were to teach more tolerance and

Common Variables of Public Relations in Mix Modelling Dissertation

Common Variables of Public Relations in Mix Modelling - Dissertation Example Based on the corporate vision, integrated marketing communication can be used to enable the target consumers not only to self-select but also identify themselves with the corporate brand (Duncan, 1993, p. 18). Since the effectiveness of business communication strategies could either positively or negatively affects the product and corporate brand (Kitchen et al., 2004), it is a challenge on the part of the large multinational companies to learn more about how these business entities could improve the use of integrated marketing communication.  Depending on the main purpose behind the need to communicate the corporate product, marketing managers can make use of integrated marketing communication strategies in order to deliver not only harmonious messages to its target consumers. Today, the availability of new media technologies changes the traditional way of communicating the product and corporate brand to the public (Kitchen et al., 2004, p. 33). Instead of heavily relying over the use of print advertisements, marketing managers today are utilizing a more diversified media sector depending on the type of marketing media that could provide them with the most cost-efficient option and most effective way to meet the personal preferences of its target consumers (ibid).In order to establish a strong corporate and product brand, the marketing mix (categorized as product, price, place, and promotion) should be carefully studied when making use of integrated marketing communication strategies (Keh, Nguyen and Ng, 2007).... 18). Since the effectiveness of business communication strategies could either positively or negatively affects the product and corporate brand (Kitchen et al., 2004), it is a challenge on the part of the large multinational companies to learn more about how these business entities could improve the use of integrated marketing communication. Depending on the main purpose behind the need to communicate the corporate product, marketing managers can make use of integrated marketing communication strategies in order to deliver not only harmonious messages to its target consumers. Today, the availability of new media technologies changes the traditional way of communicating the product and corporate brand to the public (Kitchen et al., 2004, p. 33). Instead of heavily relying over the use of print advertisements, marketing managers today are utilizing a more diversified media sector depending on the type of marketing media that could provide them with the most cost-efficient option and mo st effective way to meet the personal preferences of its target consumers (ibid). In order to establish a strong corporate and product brand, the marketing mix (categorized as product, price, place, and promotion) should be carefully studied when making use of integrated marketing communication strategies (Keh, Nguyen and Ng, 2007). Likewise, it is necessary on the part of the marketing manager to integrate the significance of the marketing mix when deciding for the type of marketing media to use in marketing communication since this strategy will make the target consumers be able to self-select and successfully identify themselves with the corporate brand

Similarities Differences Between Asian And Global Financial Crisis Economics Essay

Similarities Differences Between Asian And Global Financial Crisis Economics Essay Asia Financial Crisis (AFC) in 1997 was started with devaluation of Thailands baht and followed by Ringgit Malaysia, Philippine Peso, and Indonesian Rupiah. There were some causes of the crisis such as South East Asia current account deficit, overvalued assets prices, corruption and macroeconomic policy mistake and excess lending. Most of South East Asia Countries was facing current account deficit, some countries had 5% above GDP. They solved this deficit by attracting inflows of investment from overseas, regularly on short term investment. This is because financial deregulation and capital liberalization in the west countries, so it began to persuade developing countries to adopt free market as well. Then, foreign investment ostensibly good for economic but actually not, the problem is not from free movement of capital however that the country will be very dependent on foreign short term capital flow. Short-term borrowing (i.e. loans of less than a years duration) meant there should be had liquid assets in the banks account it will causes motivating a large part of their capital inflows were increasing the lending rate, which directly some of domestic banks actively seek foreign funds from the West to finance the lending with the consequences country will facing excess lending. Secondly, the weakness of the South East Asian economies was not practically overvalued their assets make them weak to a quick depression. In Thailand property market become the weakness of financial sector, according to Robert Chote (1998) Thailand bank had lending funds to non bank financial institution, which is property market investors. It is approximation quarter of bank in Thailand, Indonesia and Malaysia was lending their funds through intermediaries for property related investment. The third causes of AFC has been the internal factor of each developing country that is badly ill of corruption and does not handle capital market in a transparency, there was insufficient regulatory framework in business especially for the bank in South East Asia. For example in Indonesia, banks would never refuse to lend money to businesses have relation with the former president Suharto family, the lenders just think those borrowers would be able to repay the debt, even the investment failed. Another factor was macroeconomic policies, which is pegging domestic currency to the US dollar had significant effects, by maintaining the fixed dollar rate between South East Asian economies in effect caused their currencies to appreciate. Then, when the crisis was develop the inflation of the US dollar give some trouble to those countries facing large deficit, but it would also make it harder to fund their deficit. Therefore the effect of AFC will be affecting in Asia and to the global market. In the Asia region, one of the distinct effects has been the devaluation in the value against US dollar and usually the economy performance can be seen in stock market, which is the country in crisis will experience quick drops in the stock market because stock market would be likely to fall reflect the lower anticipated profit. Another indication of the financial crisis was interest rate will rise rapidly to prevent further devaluation of the currencies, for example in Indonesia they raise overnight interest rate to 300% in 1997, but still failed to stop exchange rate from collapsing. In Malaysia, the stock and the currency market nearly collapses and also GDP growth rate dropped from 7.3% to negative 7.4%, but the economy conditions recover in 1999. The global impact of AFC economic turmoil is expected to give effect of some downturns in economic growth since the crisis began. The devaluation of South East Asian currencies will decrease the demand for western goods which are making the goods more expensive to obtain than usual. But, the positive consequence is the growth of export from major economies. Another impact in devaluation of currencies will give trade advantage to South East Asian companies, but the cost to acquiring assets will be increased as well, as a consequence, foreign direct investment will drop. Compared with current Global Financial Crisis (GFC), the causes of GFC are linked to the turn down of financial markets. In US, banking industries has been affected by subprime mortgage trend which is more likely from real estate. According to Krugman (2009) the crisis growth from housing crisis to banking crisis are very fast. The impact GFC in financial institution in developing countries in Asia, in fact the financial institution in developing country relatively unaffected as they have good track record on borrowing and lending process so, it will help to minimize the risk. Then general recommendation, for financial institution would government should make clear regulation, then by funding market and supporting trouble assets market it will give liquidity to bank. Because this is a global issue, it may require cooperation other countries to make solution. In case of GFC, Asian economies will move slowly, it is because most of the countries dependant to foreign demands, therefore when US and west countries struggle it relatively will give effect to Asian countries. But, since AFC most of Asia countries have good fundamental in their economy but policy adjustments for each country to adapt the situation are necessary. The impacts of GFC in Malaysia are in foreign exchange rate, finance sector, banking system and trade. Exchange rates in Malaysia since de-pegging in from US in 2005 have impact to capital flow to the Ringgit (Ooi, 2008), this depreciation in Ringgit value is related to the demand of portfolio flow and export sector. This will help Malaysia to improve their export for counter global recession. In finance sector, Malaysia have suffered big impact on capital flow because US financial institution more concern to their domestic market, and in capital flow portfolio is the one most volatile. In Malaysia stock exchange, many foreign players involved then when the crisis, many foreign participants take their part back, and affecting to the stock market in KLCI. According to Bank Negara Malaysia (2008), low debt repayment by private sector and official sector cause decreasing in direct investment. The impact on banking system was quite under control as local banks had small correlation with US subprime loan, and also local bank have learned from AFC in 1997. For trade, there has big impact in Malaysia because of very dependent in the world market, in 2009 Malaysia made biggest drop in export rate including in manufactured export, electronic, agricultural and natural resources export. Malaysias exports have a high relation with their import. So when exports decrease, imports also decrease. In conclusion, AFC give good fundamental Asian countries when facing GFC. Then both of the crises always give global impact in economics to all countries in the world, and as financial crisis all financial market will be affected. The differences are just the volume of the impact and how they will find the solution to manage their problem. QUESTION 2 Discuss in detail on the impact of Capital Control imposed by the Malaysian Government in 1998 on the economy in general, giving special consideration on the pegging of Malaysian Ringgit against USD. In 1957, Malaysia adopt floating exchange rate that only volatile around RM 2.50. During the floating exchange rate in 1991 1997, the growth of GDP in Malaysia was higher and was calculated approximately at 9.2 percent a year. On the other hand, during the financial crisis, the economic growth became negative. Moreover, in 1999, the growth started to recover from -7.6 per a year to 6.1 percent a year. This condition can be happened due to the investors confidence has recovered and the business started the expansion movement (Talib, nd). Financial crisis in 1998 caused catastrophe to countries in Asia, such as Indonesia, South Korea, Thailand, Philippines and Malaysia. In those years, every country in Asia was preventing itself from the crisis by defensive method. It is also followed by IMF term that every country has to tighten their capital and exchange control. This action is taken due to ensure the investors confidence and stem capital outflow. On the other hand, Malaysia challenged it by imposing restriction on capital repatriation by foreign investor and on offshore trading of ringgit-denominated assets (Sharma, 2003). According to Sharma in The Malaysian Capital Control Regime of 1998, she stated that due to capital control, it downturn the economic in Malaysia. For example, export in electronic especially showed low demand and rises of lower cost producers. She added also that the price of the residential and commercial property increase. Moreover, subsidies are needed in industries, such as automobiles, cement, steel and others. But the troublesome is the falling in the assets quality of the bank because of the uncontrolled rapid credit expansion that made speculative price bubbles happened. Also there was difference in assets and liabilities that made the market vulnerable and seriously exposed. So, when financial crisis in Asia happened, Malaysian Ringgit became very volatile and the trading of Ringgit against USD at RM 4.22 per 1 USD. Thus government made decision to peg the Ringgit with USD at RM 3.82 per 1 USD. The Malaysian government not only concern about the economy in Malaysia but also the virtual pegging of Malaysian Ringgit against USD. At that time Malaysian Ringgit weakened against USD, this is because the unlimited currency trading market. Many speculators that short or sell the Malaysian Ringgit in case of depreciated (Sharma, 2003). Malaysia also imposes restriction on exchange rate transaction to prevent speculator take position against ringgit and also to protect foreign exchange reserves and recover monetary. The process of recovery not only by pegging and controlling the currencies Bank Negara also take a part to support the process of recovery, they impose stretched limit on transfer of capital to foreign countries by residents, the central bank maintains its commitment to exchange rate stability and rules out revaluation, massive capital inflows translate into a massive increase in the domestic money supply, leading to suspected undervaluation and inflationary pressure thi s decision was to prevent potential escape or people try to cheating. The Governments declaration of a guarantee of bank deposit also carries positive effect in Malaysia. In conclusion, Malaysia was able to control the Asia Financial Crisis in 1998, with the collaboration all other sectors including Government and financial institution by designing effective capital control and effective enforcement which are showed political ability and outstanding institutional. QUESTION 3 Based on your understanding of the Financial System in Malaysia, critically argue on how we could minimize the impact from another catastrophic economic crisis (if any). The Malaysian financial system was insecure during the Asian financial crisis. This encouraged the government to take holistic approach towards financial restructuring. It has been shown in paper4-emerging issues in Malaysian financial system: policy and challenges (2005) the government took approaches to restructure which includes the establishment of Danaharta, Danamodal and CDRC (Credit Debt Restructuring Committee) and promoted consolidation with merge exercise. Within 2 years, Malaysia managed to get out of the crisis with low usage of public funds (less than 5% of GNP) for the restructuring efforts and restoring economic stability. The government realized that the financial sector has to be transformed to address inherent weakness and set foundation for longer term development efforts amidst intense competitive pressures, globalization and liberalization of financial markets. How to cope with the crisis can be in various ways. But the initial priorities in dealing with the crisis were to stabilize the financial system and to restore confidence in economic management. Strong actions were needed to stop bank runs, protect the payment system, limit central bank liquidity support, and minimize disruptions to credit flows, maintain monetary control, and stop capital outflows. According to the financial sector crisis and restructuring lesson from Asia, it suggests that the countries emergency measures, such as the introduction of blanket guarantees and bank closings, were accompanied by comprehensive bank restructuring programs and supported by macroeconomic stabilization policies. Blanket guarantees for depositors and creditors were used in Malaysia to restore confidence and to protect banks funding. Despite the huge contingent costs and moral hazard problems involved, the government opts to guarantee the deposit rather than risking the credibility of their ba nking systems. The guarantees were effective in stabilizing banks domestic fundingalthough in some cases it took some time to gain credibilitybut were less effective in stabilizing banks foreign funding where Malaysia adopted capital controls. The developments within the domestic economy such as embarking on expansionary fiscal policies, easing monetary policy, implementing capital controls, and fixing the exchange rate can help to lead an improvement in the Malaysian economy. A well-functioning and efficient financial system is vital in ensuring effective and efficient conduct of monetary policy. The need to hit information technology will increasingly be important to meet more difficult demand. Banking sector needs large amount of capital investments to remain competitive and be able to assume greater risks. The financial system must adapt to meet the changing requirements for financing new economic activities. In particular, new areas of growth have different characteristics, which may limit their access to the traditional form of the bank-based financing. The capital market will play an important role in financing the growth and businesses. In order for Malaysia to remain internationally competitive, some of the important challenges will include such as continuing to Pursue Liberalization, Foreign Direct Investment, Building Good Governance and an Ethical Regulatory Framework, Restructuring and Upgrading the Industrial and Technological Base. In terms of the foreign exchange, Malaysia can get advantage by pegged exchange rate during the crisis. This brings advantages such as Relative stability in the foreign exchange market, Avoiding the day-to-day management of the exchange rate, The fixed exchange rate provided more certainty for businesses to make business and pricing decisions, Fixing of the Ringgit against the US dollar resulted in some independence in setting the level of interest rate, Avoids a trade-off between an accommodative monetary policy to avoid a contraction of the economy, and the need to check further deterioration in the Ringgit exchange rate. Comprehensive bank restructuring strategies in Malaysia sought to restore financial sector reliability as soon as possible, and at least cost to the government, while providing an appropriate incentive structure for the restructuring. The strategies included setting up appropriate institutional frameworks, removing nonviable institutions from the system, strengthening viable institutions, dealing with value-impaired assets, improving prudential regulations and banking supervision, and promoting transparency in financial market operations. According to the IMFs publication, more transparency in macro and microeconomic data and policies would have exposed vulnerabilities earlier and helped lessen the crisis. Better regulatory and supervisory frameworks would have helped, but supervisors would most likely not have been able to take necessary actions in the middle of the economic boom. No one foresaw the sudden massive erosion of loan values, once market sentiment changed and exchange rates collapsed. Broad-based reforms are under way to strengthen the institutional, administrative, and legal frameworks in the crisis countries, based on evolving international best practices, codes, core principles, and standards. The crisis has shown the need to tailor prudential policies so that resilience is built up in times of economic booms to deal more easily with inevitable economic downturns. International efforts have been undertaken to reduce the likelihood and intensity of future crises. Initiatives include work on the internat ional financial architecture, the Financial Stability Forum, and financial sector stability assessments. The Basel Committee on Banking Supervision has formulated improvements to regulation and supervision of international lenders to address weaknesses that contributed to the Asian crisis.

Free Essays -Themes of Native Son :: Native Son Essays

Themes of Native Son Frustration and hopelessness develop as major themes of the story.   When Bigger and his friend Gus watch a sky writing plane, Bigger expresses frustration in his statement   "I could fly one of them things if I had a chance."   Discussing the impossibility of accomplishment in the white-controlled world, Bigger expresses hopelessness, saying, "They don't let us do nothing."   When Gus reminds Bigger that they have always known this, Bigger agrees, but insists that he cannot accustom himself to it. "Every time I think about it," he says, "I feel like somebody's poking a red-hot iron down my throat."   Today a good example of the same type of frustration can be seen on the various music videos done by black artists.   These video portray, poor education and a lack of opportunities afforded to blacks. Oppression, hate, and the separatism between whites and blacks also arises as a main theme.   Bigger represents the oppressed but rebellious black, in contrast the Dalton's represent naive whites, and Jan and Max represent the oppressed communists.   These various characters hate each other without comprehend the underlying social cause.   Only the oppressed groups come to help and forgive each other by the end of the novel, while the oppressors still asking for bitter vengeance.   The separatism become obvious while Bigger when sits in the car with Mary and Jan.   He feels afraid and uncomfortable being treated like an equal and being allowed to sit near them.   This separatism also made his oppressors blindly ignorant of the realities of social oppression.   Separatism affects both sides of the color line.   The characters consider each other as separate entities, never interacting on an equal basis.   Social ignorance allows the scapegoating of Bigger, to vent   the anger and rage built up from by many years of tension between the races.   A good example of separatism and oppression in our area shows up in the conflicts between Whites and Hispanics. Arguments about English as the official language as the official language of the US represent the manifestations of this conflict. A notable theme that the author portrays through Bigger's actions come from the true meaning of freedom to the oppressed.   Bigger's discovered "freedom" came to him in two instances, in both cases while committing murder.   With the death of Mary Dalton, Bigger starts to realize that for the first time he has gone against the law. Free Essays -Themes of Native Son :: Native Son Essays Themes of Native Son Frustration and hopelessness develop as major themes of the story.   When Bigger and his friend Gus watch a sky writing plane, Bigger expresses frustration in his statement   "I could fly one of them things if I had a chance."   Discussing the impossibility of accomplishment in the white-controlled world, Bigger expresses hopelessness, saying, "They don't let us do nothing."   When Gus reminds Bigger that they have always known this, Bigger agrees, but insists that he cannot accustom himself to it. "Every time I think about it," he says, "I feel like somebody's poking a red-hot iron down my throat."   Today a good example of the same type of frustration can be seen on the various music videos done by black artists.   These video portray, poor education and a lack of opportunities afforded to blacks. Oppression, hate, and the separatism between whites and blacks also arises as a main theme.   Bigger represents the oppressed but rebellious black, in contrast the Dalton's represent naive whites, and Jan and Max represent the oppressed communists.   These various characters hate each other without comprehend the underlying social cause.   Only the oppressed groups come to help and forgive each other by the end of the novel, while the oppressors still asking for bitter vengeance.   The separatism become obvious while Bigger when sits in the car with Mary and Jan.   He feels afraid and uncomfortable being treated like an equal and being allowed to sit near them.   This separatism also made his oppressors blindly ignorant of the realities of social oppression.   Separatism affects both sides of the color line.   The characters consider each other as separate entities, never interacting on an equal basis.   Social ignorance allows the scapegoating of Bigger, to vent   the anger and rage built up from by many years of tension between the races.   A good example of separatism and oppression in our area shows up in the conflicts between Whites and Hispanics. Arguments about English as the official language as the official language of the US represent the manifestations of this conflict. A notable theme that the author portrays through Bigger's actions come from the true meaning of freedom to the oppressed.   Bigger's discovered "freedom" came to him in two instances, in both cases while committing murder.   With the death of Mary Dalton, Bigger starts to realize that for the first time he has gone against the law.