The Digital Millennium Copyright Act

Copyright is identified as a branch of law that gives rights to authors to exclusively reproduce, perform, distribute, and display their works. The main goal of the said law is to promote the investment of creating new work of arts and literature. The copyright law is an integral part of a legal field which is known as intellectual property. Basically, the copyright law is a legal foundation that was created in order to protect the work of major industries such as book publishing, production of motion-pictures, music labels, and the development of computer software.Since the said industries are in account for the upscale development in the economic activity of United States, the creation of the copyright law became as important as the emergence of these industries (Schechter). Most of the time when people hear the term copyright, the idea of protection is limited to certain works such as those of literature. However, due to the advancement in the technology of today majority of the i ndustries are now at high risk of infringement.Infringement is identified as the reproduction, performance, distribution and display of any copyrighted material without the permission of the owner of the copyright and without the presence of any required license (Schechter). By the time that personal computers have been widely utilized, the issue of infringement catapulted as well. End users are now capable of reproducing copyrighted materials digitally and the distribution has been made easier in every part of the globe through the use of internet.In order to combat such unlawful activities, the initial actions of copyright owners were to apply protective measures in their works like the use of encryption and passwords. Yet, many of the end users are able to penetrate these measures; in the end, the copyrighted material is still reproduced, distributed, displayed and performed (Schecter). In response to the augmenting issue of infringement, a diplomatic conference was held in Genev a, Switzerland in December of 1996.The said conference was spearheaded by the World Intellectual Property Organization (WIPO) and was centered on the issue of â€Å"certain copyright and neighboring right questions† (Castro). As such, the meeting was held in order to address the challenges being faced by different industries regarding the protection of intellectual property that is at risk in the technological advancement of the digital age.The session was a month-long negotiation which concluded in the adoption of two treaties: (1) the copyright treaty which is centered towards the certain question which concerns the protection of artistic and literary works; and (2) The performances and the phonographs treaty which is focused in the protection of the performer’s rights and the rights of the phonograph producers. The treaties include obligations about technological measures, management information rights as well as the provisions in the enforcement of rights (Castro). On October 12, 1998, less than two years after the diplomatic conference, the US congress put forward the Digital Copyright Act (DMCA). By October 28, 1998, President Clinton signed into law the DMCA. The said legislation was intended to execute the functions of the two treaties signed during the Geneva conference. In addition, related provisions were also added in order to address the copyright issues that impact the entertainment industry.The final form of the DMCA covered five titles: (1) â€Å"WIPO copyright and performances and phonograph treaties implementation act of 1998;† (2) â€Å"Online Copyright Infringement Liability Limitation Act;† (3) â€Å"Computer Maintenance Competition Assurance Act;† (4) The fourth title is comprised of six miscellaneous amendments that adhere to the Copyright act of 1976 which also include provisions regarding the facilitation of broadcasting over the internet; and (5) the implementation of the â€Å"Vessel Hull Design Pro tection Act† (Castro).Title I: WIPO Treaty Implementation The main purpose of Title I redresses the US copyright law in complying with the treaties adopted by the WIPO in 1996 which are the â€Å"copyright treaty and the performances and phonographs treaty. † Two new prohibitions were also created under the Title 17 of the US code. First is in relation to the circumvention of the technological measures applied by owners of the copyright in order to protect their works, and second is the copyright management information tampering.Civil remedies and criminal penalties were also added in account of violating the said prohibitions. Furthermore, title I also requires the copyright office of the USA to work with the Department of Commerce’s National Telecommunications and Information Administrations (NTIA) in a two joint studies (U. S. Copyright Office 2). The following are the highlights of the most important prohibitions, limitations, defenses, exemptions and rights stated in Title I of DMCA: A. Technologies to circumvent access controlsBasically the prohibition in circumvention states that no individual shall bypass any technological measure that has the capability to control the access in a copyrighted material and the prevention of copyright management information from tampering (Castro). B. Use and distribution of technologies that bypass access controls Manufacturing, trafficking or importing technological devices as well as services in order to gain control over a copyrighted material is strictly prohibited (Castro).C. Utilization and distribution of technologies that bypass the protection of any copyrighted material. This is an additional prohibition in the use and distributions of technological products, services and devices that tend to bypass the measures used for the protection of the rights of the owners of the copyrighted material. This prohibition is focused on the copyrighted materials rather than the access controls that protect them (Castro). D. Rights, limitations, defensesThe rights, limitations, remedies and defenses for copyright infringement is not covered under these provisions. Both copyright violations and circumvention violations are different from each other thus the defenses for copyright violations are not the same as the provisions in section 1201 which is intended for the circumvention violation (Castro). E. Exemptions The Congress fully recognize that there are legitimate reasons why technological are circumvented in order to gain access over a copyrighted material. As such, the congress provided exemptions in provision 1201.The exemptions include: Non-profit libraries, archives and educational institutions, reverse engineering, encryption research, use for the protection of minors, personal privacy and security testing. Each of the said exemptions has its own set of conditions upon its application (Castro). Title II: Online Copyright Infringement Liability Limitation Title II of the DMCA a dded a new section 512 in the â€Å"Fairness in Musical Licensing Act† stating that four new liability limitations are applied for the Online Service Providers (OPS) in terms of copyright infringement.The said limitations are derived from the four categories: Transitory communications, system caching, information storage in systems or networks directed for users, and information location tools. Section 512 also includes special rules that apply to non-profit educational institutions in account to the said limitations (U. S. Copyright Office 8). Generally, Title II puts a limitation in the financial liability of the providers in account to copyright infringement.The limitation is applicable in events such as when another party placed infringing materials on the website owned by the online service provider or if the OSP provided links or made connections to a particular website that contains infringing works. The new provisions provide a legal protection for the providers as lo ng as they follow the guidelines set by the law. The guidelines identified exemptions or â€Å"safe harbors† in accordance to the activities carried out by the provider.Exemptions given out by the DMCA would only be functional if the defense presented by the OSP is under a copyright law or any law that is said to be applicable (Castro). Moreover, Title II created a procedure wherein an owner of a copyright could secure a subpoena from the federal court which orders an OSP to reveal the identity of a particular subscriber who is engaging with infringing activities (U. S. Copyright Office 9). Title III: Computer Maintenance or RepairTitle III is an extension of the exemptions written in Copyright Act section 117 which is related with computer programs allowing the owner of a program copy to reproduce or adapt the programs while working on the computer. Owners or lessees of the computer are authorized by the amendment to reproduce the copy of a certain program during the time of the computer repair or maintenance. However, the reproduced copy should not be used in any manner and should be destroyed right after the computer maintenance or repair is done (US copyright office 13-14). Title IV: Miscellaneous ProvisionsDMCA Title IV applied the following provisions: (1) Refine and added the duties and authority of the copyright office; (2) Added ephemeral recordings for broadcasters. Ephemeral recordings are the copies of a particular recording in order to manage the process of transmission. For instance a radio station could record songs and instead of broadcasting songs from the original CD, they would use the recorded songs during the broadcast. (3) A provision that gives consideration on the promotion of distance education; (4) Provision that gives exemption for non-profit libraries and archives.As such, the provision assists libraries in working on a new format of a copyrighted material once the original format of the material is already out-dated; and (5) A provision that considers webcasting of sound recordings as well as the transfer of motion pictures (US copyright office 14-17). Title V: Protection of Certain Original Designs The Title V of DMCA encompasses the â€Å"Vessel Hull design protection act (VHDPA)† by adding a new chapter 13 in the US Code Title 17.The amendment created a system that protects the original design of a boat hull’s â€Å"useful articles† which makes the object appear distinct and attractive. According to the VHDPA, the â€Å"useful articles† of the boat are only limited to the hulls of the boat and should not be longer than 200 feet. The said design would only be protected by the VHDPA if the â€Å"useful article† which embodies the design is made public or the design registration is published. If the application for the registration is not done within two years after the design was created, the VHDPA protection is lost.A design could not be registered if has been alrea dy known by the public for more than a year prior to the date of the application for registration. By the time that the design is registered, the protection is continued for ten years (US Copyright Office 17). The enactment of Digital Millennium Copyright Act received criticisms from various sectors. However, it is important to note that not all countries have the capability to enforce laws which governs the protection of copyrighted materials.Putting such law in effect is a step towards combating infringement of copyrighted materials and without the presence of strict laws that protect the rights of copyright owners, copyright piracy and copyright violations would continuously augment. Although limited countries have laws that actually heighten the security of copyrighted materials, in one way or another these countries would be able to persuade other nations to partake in the fight against infringement that would eventually end copyright violations.

Qualities of Good Teachers Essay

There are many internet sources that post lists of qualities that all great teachers should possess. These lists range from 10-15 characteristics, but I believe that they can be summed into a love for children, not only a firm knowledge in their content area but passion as well, and that they take the time to get to know their students by developing a healthy student-teacher relationship. In his book Qualities of an Effective Teacher, James Stronge subcategorizes qualities into the teacher as a person, as an individual, and he lists specific qualities that show caring and responsibility for students. However, I believe what it really boils down to is a joy of being around students and a love for the job. If a teacher genuinely loves children, he or she will do whatever necessary to help that child succeed, including planning, mentoring, differentiated teaching, etc. Harry Wong states in The First Days of School that the students are going to want to know the teacher as a person and if the teacher will treat them with respect. Therefore, effective teachers will take the time to show the students respect and involve them in their own learning process. I don’t think that there is a difference between good and effective. I think that is just a matter of semantics. Of course we might be able to specify a good teacher is one who has a joy and gets the students motivated to learn while an effective teacher is one who performs the preparation tasks well: good planning, classroom management, monitors student progress. However, I think that if a teacher has such a joy for teaching and is enthusiastic, he or she will want to be effective as well and keep good records and plans, etc. The same is true for those teachers who are great at the behind-the-scenes tasks. If someone is so well-prepared, why wouldn’t he have enthusiasm and be able to motivate the students? Therefore, I believe separating these two words is impossible, for all good teachers are effective and vice versa.

The Value of the Chinese Renminbi

The Value of the Chinese Renminbi Free Online Research Papers MACQUARIE UNIVERSITY ECON 867 International Financial Management Lecturer: Dr. George Milunovich The value of the Chinese renminbi, its management and risks associated with investing in China written by Mahmut Berdan 41404068 Arthur Britto 41087054 Rasmus Heim 40981088 Joanne Papanikitas 40321711 Words: 2,932 Table of Contents Introduction 1 The current economic situation and the present exchange rate regime in mainland China 2 The equilibrium value of the Chinese renminbi under a flexible exchange rate regime 4 Reasons behind the Chinese governments decision to keep the renminbi pegged to a basket of currencies 7 Risks commercial participants face from a managed float versus a fully flexible exchange rate in China 9 Conclusion 12 References 13 Introduction In recent times, the Chinese economy has become a topic of great interest within economic literature and global affairs. In particular, China’s rapidly exceeding economy has sparked extensive discussion on the value, management and stability of the Chinese renminbi, as well as considerable debate concerning the strengths and potential risks associated with investing in China. In what appears to be an economy with immense potential to further expand its global influence, several key factors need to be analysed. Firstly, the advantages and disadvantages associated with the current economic situation and present exchange rate regime existing in mainland China. Secondly, the motivations behind the Chinese governments decision to peg its national currency to a basket of currencies and moreover, the potential risks associated with replacing a fixed exchange rate system with a more flexible one. By considering such factors, it is seemingly clear that China’s recently introduced peg to as basket of currencies will more adequately reflect its economic position, as well as the renminbi’s currency value, within global financial markets. The current economic situation and the present exchange rate regime in mainland China China possesses one of the fastest growing economies in the world, with its rapidly booming economy seaming ahead of its global competitors. Undoubtedly, China is the primary contributor to the growing economic strength of Asia, as well as for global economic growth. Over the last four years, China’s economy has expanded at an average of 10.4 per cent per year which, during the same financial period, more than doubled the average growth rate of the world economy. Factors considered bring responsible for China’s startling economic growth are the rise in GDP, GDP Per Capita, investment, trade and the success of Chinese enterprises (Full Steam Ahead for Chinese Economy 2007). China contributes a strong 5.5 percent of the worlds GDP, with growth stable, remaining within 1.1% fluctuation points. Predictions have been made that in 2008, Chinas GDP could possibly increase to 10.7% with the Olympic Games taking place in Beijing (Full Steam Ahead for Chinese Economy 2007). Chinese government officials wish to sustain economic growth in order to reduce poverty (Chinese Economy Exceeds Forecast 2007). In 2006, China appeared to have succeeded, with its per capita income reaching the 2000US threshold for the first time. Rural resident incomes increased by 7.4 per cent, whilst urban residents increased by 10.4 per cent. According World Bank statistics, such an increase suggests that China can no longer be considered a low-income nation (Full Steam Ahead for Chinese Economy 2007). In the last four years, China’s national fixed assets investment has increased by 26.6 per cent, whilst its trade volume has made rapid progress, reaching the third largest volume globally at 1.76 trillion in 2006. Moreover, Chinese enterprises have recorded impressive profit margins, which have undoubtedly strengthened national economic growth (Asia Economy: The Impact of the Renminbi Revaluation 2005). It is seemingly clear that in present terms, the Chinese economy has conditions of high levels of growth and sustainability. However, a nation with such rapidly exceeding growth may face problems of surplus production capacity, the risk of deflation and overheating, if the proportion of exports in GDP capacity continues to rise into the future (Future worries for Chinese Economy 2007). The main priority of the ruling Chinese Communist Party (CCP) is to maintain strong rates of economic growth, political and economic stability, as well as implement reforms in a country experiencing significant economic transformations (China: Country Outlook 2007). As an eloquent example of economic reform, Chinese officials made a moderate revaluation of the currency by ending the eight year fixed exchange rate policy of pegging the Renminbi against the US dollar and replacing it with a floating exchange rate regime, targeting its value against a basket of currencies (Asia Economy: The Impact of the Renminbi Revaluation 2005). Under the reform, a ‘reference basket’ of currencies is referred to when selecting targets for the Renminbi (Asia Economy: The Impact of the Renminbi Revaluation 2005). Such basket currencies will have assigned ‘index weights’ administered by The State Administration for Exchange Control (SAEC), under direct control of the Peoples Ba nk of China (PBOC) - China’s Central Bank- , that reflect which currencies are most commonly traded in terms of foreign trade, external debt and foreign direct investment (People’s Bank Of China 2007). The Peoples Bank of China (PBOC) stated that trade weighted indexes will not be followed rigidly, as account considerations such as the share of other major currencies in foreign debt and foreign direct investment will also be considered (People’s Bank of China 2007). The revaluation has exhibited a moderate appreciation of 2.1 per cent, from 8.28 per cent against the US Dollar to 8.11 per cent (Asia Economy: EIU’s October Assumptions 2005). An announcement of the People’s Bank of China (PBOC) states that the changes ‘†¦enables the market to fully play its role in resource allocation†¦as well as further strengthen the managed floating exchange rate regime based on supply and demand’ (People’s Bank of China 2007). Chinas trade patterns have moderately altered, relieving pressures caused by China’s capital and current account surpluses. Despite its advantages, the present exchange rate regime may create uncertainty of the future exchange rate level, the appreciation or depreciation of the currency, as well as prices of imported goods and level of export costs in the longer term (Kuroda 2003). The equilibrium value of the Chinese renminbi under a flexible exchange rate regime In order to calculate the equilibrium value of the renminbi, first, one has to decide which of the three basic versions of PPP to use: the Law of One Price (LOP), the absolute PPP or the relative PPP (Yang Bajeux-Besnainou 2006). In this report, the relative PPP will be used to determine RMB’s equilibrium value. Like the other two options, relative PPP does not differentiate between tradable and non-tradable input goods. So, wages are included in prices used to calculate the PPP exchange rate, but not in the market exchange rate. Therefore, the former is lower than the market equilibrium exchange rate given a low per capita income currency such as the RMB being the quoted currency. Hence, the RMB’s value, implied by PPP, is higher than the value indicated by actual exchange rate. However, the relative PPP overcomes LOP’s problem of lacking representativeness. Moreover, in contrast to the absolute PPP, it also reduces the impact of including traded as well as non-traded goods by relying on the equilibrium exchange rate S0 of a base year t=0. The PPP exchange rate then is determined by adjusting S0 by the relative price changes of the two currencies (Yang Bajeux-Besnainou 2006). Since this model is based on an equilibrium value of the exchange rate, the results obtained will be more reliable than those of the other two versions. Therefore, to determine the equilibrium value of the renminbi, the relative PPP method will be used by applying this formula: To ascertain the base period, one has to select a period in which the actual exchange rate was equal to the PPP exchange rate (Artus 1978). Moreover, according to Artus (1978), since biases in measuring relative price changes rise with time, the base period chosen must not lie too far in the past. Yang and Bajeux-Besnainou (2006) chose a period, in which major changes in China’s exchange rate system occured. Given this and Artus’ claim that the base period must not be too distant from the current period, therefore, the exchange rate of July 23 2005 will be taken as a base period. Two days before, the People’s Bank of China announced that the renminbi would be pegged to a basket of currencies. Before that, it was pegged to the US-Dollar only. The following data is used to calculate the PPP exchange rate: 2005 2007 Exchange rate 8.12110 exchange rate of July 23, 2005, i.e. two days after the revaluation (Oanda.com ) 7.0222 (7.55580) exchange rate of March 31, 2008, chosen in accordance with the latest CPI month available (Oanda.com) Domestic price level p (RMB) 101.3 CPI of August 2005, i.e. the month after the revaluation (National Bureau of Statistics of China 2007) 108.3(106.5) latest available CPI, March 2008 (National Bureau of Statistics of China 2008) Foreign price level p* (USD) 196.4 CPI of August 2005, i.e. the month after the revaluation (US Department of Labor 2007) 213.5 (207.9) latest available CPI, March 2008 (US Department of Labor 2008) Since the long-run equilibrium exchange rate implied by relative PPP is higher than the actual exchange rate S2007, the foreign currency USD is undervalued by and the domestic currrency RMB is overvalued by Using PPP as a trading rule, buying USD and selling RMB is recommended. It is important to bear in mind that, since there are, in reality, differences between traded and non-traded goods as well as restrictions in the movement of goods, relative PPP can only be employed as an estimate. More specifically, governments should solely use it as guide for their exchange rate policies, rather than as a precise means to determine deviations of actual exchange rates from an equilibrium value. Reasons behind the Chinese governments decision to keep the renminbi pegged to a basket of currencies In order to establish the reasons behind the Chinese government’s decision to keep the RMB pegged to currencies such as the US dollar, Euro and Japanese Yen, it is important to first differentiate between the reasons given by the Chinese government and the ones pointed out by the US government. Two major justifications made by Chinese policymakers include concerns that moving to a more flexible system would exacerbate deflationary pressures and undermine export competitiveness (Tung Baker 2004). In other words, with the RMB at a higher value against the dollar, there would be an increase in the price of exports and that could lead to a downward pressure on domestic prices. In addition, the Chinese government has also mentioned that the current exchange rate adjustment aims to promote the basic equilibrium of the balance of payments and safeguard macroeconomic and financial stability (Xinhua 2005a). The People’s Bank of China says that it has chosen an exchange rate system â€Å"that caters to its domestic situation by taking into consideration its fundamental interests and economic and social development† (Xinhua 2005b). In other words, China argues that the pegged system more likely guarantees stable economic growth. On the other hand, Americans- namely US lawmakers and manufacturers- have stated that China gives its exporters an unfair price advantage in global markets by keeping the RMB’s value artificially low (Reuters 2007a). For Ben Bernanke, US Federal Reserve Chairman, the yuan regime provides an effective subsidy to Chinese exporters, even though it is not a subsidy in the legal sense of the word (Kaiser 2007). Finally, Condoleezza Rice, US Secretary of State, has recently called for reform of the currency to one that will be reflective of the market (Reuters 2007b). In response to these claims, Chinese President Hu Jintao has currently indicated that China would continue to reform the currency exchange system and let the market play an increasing role (Pulizzi 2007). However, as written by David Cohen in the article China Hints at Further Appreciation of Yuan, â€Å"China remains committed to proceeding [yuan’s revaluation] at its own pace† (2007). Despite Yang and Bajeux-Besnainou’s research finding no convincing evidence to support that the RMB was undervalued (2006), the US Treasury noted in June 2007 that Chinas currency was in fact undervalued. However, it had been unable to determine that Chinas exchange rate policy was carried out for the purpose of preventing effective balance of payments adjustment or gaining unfair competitive advantage in international trade. (Somerville Palmer 2007). Intended or not, considering both countries’ points of view, the Chinese government’s decision to peg the yuan to a basket of currencies has undeniably given a competitive edge to China (The Economist 2007). It is this particular competitive edge that China does not want to lose. This would occur if the country allowed the renminbi to fully float. As Burdekin (2006) stated, losing export markets would slow down economic growth and negatively affect employment. Hence, to make sure that displaced workers can find employment, the government hesitates in accepting even a modest reduction in the country’s high economic growth. To conclude, another reason for keeping the exchange rate system as it is, as Cohen (2007) suggests, is to refer to the old saying â€Å"if it is not broken, do not fix it†. Risks commercial participants face from a managed float versus a fully flexible exchange rate in China According to Davis (2004), the future development of China’s economy is highly determined by its efforts to become more integrated with global financial markets. The necessity of this is also reflected by China’s strict capital controls combined with an immature banking system, which deteriorates external funding for local companies (Davis 2004). Such integration could be achieved by aiming for a market driven ergo floating currency of the Yuan. However Davis (2004) envisages that a sudden change of China’s currency policy would adversely affect China’s interest, due to a continuing underdeveloped banking system, which is being rated one of the worst in the world. In this context, Moosa (2006) suggests that for countries with poor financial systems such as China, a freely floating currency is not suitable since such systems require sophisticated futures and forward markets. Due to this, the pegged currency has proven itself as a major pillar of stability, especially during the Asian crisis (Das 2005). However, the pegged currency is subject to policy decisions which have announced destabilizing effects on the financial markets as compared to periods in which the exchange rates are held constant. Davis (2004) argued that the change towards a free float would lead to an asset flight stemming from Chinese depositors who would diversify their portfolios by investing in other international markets. The economic slow-down and/or potentially resulting crisis would most likely be combated by an enormous rise in interest rates in China. For this reason, Davis suggests that implementing a freely float would not be a viable option for another decade. The change that is most likely to occur in the short term is a revaluation of the pegged exchange rate by appreciating the Yuan, which would require China some time to develop a more competitive and functional banking system. U.S. direct income investors would be majorly affected by such revaluation, since the need for the Chinese Central Bank to buy large quantities of U.S. securities would decrease. This is due to the decreasing proportion of the U.S. trade deficit China is currently backing. Naturally, an appreciation of the Yuan would make Chinese exports more expensive for foreign countries such as the U.S. and therefore possibly reduce imports stemming from China. As a consequence of the revaluation, there could be inflationary impacts on the world economy whose magnitude however would differ between countries (Yang Bajeux-Besnainou 2006). Nevertheless it is important to note that an increase in Chinese exports prices might not have an effect on China’s exports at all due to the general low level of prices stemming from extremely low labour cost. Generally, investors are concerned with exchange rate fluctuations, for they impact on the net worth of their investments. In this context, floating exchange rates are often viewed as a way to achieve higher flexibility and avoid costs associated with policy changes in parities which create greater uncertainty (Aliber 1972). In the case of China, the risk that stems from a floating exchange rate is related to its immature banking system and unforeseeable reaction from investors that suddenly face a more volatile currency. These reactions could generate a chain reaction similar to Thailand which triggered the Asian financial crisis in 1997 (Das 2005). There are a number of political and economic issues for China such as the high degree of corruption for instance, which could increase the likelihood of disorderly national behaviour, creating additional uncertainty (Aliber 1972), (Business Monitor International 2007). This becomes critical in a scenario where the Chinese foreign exchange should depreciate. In that scenario, Chinese exporters and investors will be worse off, whilst political pressure may deteriorate appropriate adjustment of the exchange rate. Additionally, despite China’s accession to the WTO, adequate reform needs to be made in addressing issues such as intellectual property protection, which is still a major impediment on FDI in China according to Business Monitor International (BMI 2007). Moreover, there remain possibilities of financial crisis in China forecasted by BMI (2007) due to a number of factors. Firstly, the lack of effective reduction of non-performing loans (NPLs) in the state-owned banking sector negatively impacts investors’ confidence. Secondly, the currently rapid investment in China could lead to over-capacity, which in turn could lead to the re-emergence of deflationary pressures. Furthermore, the undisputed growth of China’s economy is widely feared as being unsustainable and the impacts of a slow-down are unclear creating uncertainty for investors. Lastly, China is still classified as a non-market economy with most of its trading partners within WTO regulation, which makes China more vulnerable against anti-dumping duties. Conclusion It is apparent that China is highly integrated and influential in today’s global economy. The impact of a revaluation of the Yuan has triggered widespread controversy, with changes in China’s monetary policy being deemed a potential threat to stable global market movements which could trigger economic instability and future crisis. On the one hand, it is feared that the appreciation of the RMB may result in inflationary impacts on the world economy, as well as a decrease of Chinese exports to major trading partners. However, structural aspects such as low labour costs and increasing levels of Foreign Direct Investment (FDI) provide a competitive advantage to China over most economies in the world. Therefore, impacts of an appreciation of the RMB may not, as widely assumed, adversely impact China’s competitiveness as a strong exporting nation. In the long term, China will aspire to achieve a more market driven exchange rate system in order to become more closely associated and integrated within global financial markets. In order to successfully sustain and operate a sophisticated and well functioning financial system, financial authorities need to invest time and effort in its structural development. References Aliber, R 1972, ‘Uncertainty, Currency Areas and the Exchange Rate System’, Economica, New Series, vol. 39, no. 156, pp. 432-441. ‘Asia Economy: EIU’s October Assumptions’ 2005, Economist Intelligence Unit Ltd., 28 September, p.1. Retrieved September 19, 2007, from Factiva database. ‘Asia Economy: The Impact of the Renminbi Revaluation’ 2005, The Economist Intelligence Unit Ltd., 27 July, p.1. Retrieved September 19, 2007, from Factiva database. Burdekin, R 2006, ‘China and the Depreciating U.S. Dollar’, Asia-Pacific Issues, East-West Center, no. 79. Retrieved September 21, 2007, from Macquarie University WebCT. Business Monitor International 2007, The China Business Forecast Report. Retrieved September 4, 2007, from Business Monitor Database. ‘China: Country Outlook’ 2007, Economist Intelligence Unit Ltd., 1 September, p.2. Retrieved September 19, 2007, from Factiva database. ‘Chinese Economy Exceeding Forecasts’ 2007, Kitchener-Waterloo Record, 12 July, p.2. Retrieved September 19, 2007, from Factiva database. Cohen, D 2007, ‘China Hints at Further Appreciation of Yuan’, BusinessWeek, 22 May. Retrieved September 24, 2007, from businessweek.com/investor/content/may2007/pi20070522_343319.htm Das, D 2005, ‘THE ANATOMY OF A CRISIS: ASIA AS GROUND ZERO’, Centre for Japanese Economic Studies Macquarie University Sydney NSW 2109, Research paper Davis, H 2004, ‘Investment Implication of a future Chinese Currency Revaluation’,Vanguard Investment Counseling Research, pp. 2 – 11. ‘Full Steam Ahead for Chinese Economy’, 2007, Asia Pulse Pty Ltd., 19 September, p.1. Retrieved September 19, 2007, from Factiva database. ‘Future worries for Chinese Economy’ 2007, Xinhua Electronics News, 2 July, p.1. Retrieved September 19, 2007, from Factiva database. Kaiser, E 2007, ‘Subprime losses could hit $100 billion: Bernanke’, Reuters, 19 July. Retrieved September 24, 2007, from reuters.com/article/pressReleasesMolt/idUSN1933365020070720?pageNumber=2sp=true Kuroda, H 2003, ‘How to Help the Renminbi Find its Own Level’, The Financial Times Ltd., 17 October, p.1. Retrieved September 19, 2007 from Factiva database. Moosa, I 2007, International Finance, An Analytical Approach, 2nd edn, McGraw-Hill, Sydney. National Bureau of Statistics of China, 2007, Statistical Data. Retrieved September 29, 2007, from stats.gov.cn/english/statisticaldata/ Oanda Corporation, 2007, FXHistory: historical currency exchange rates. Retrieved September 29, 2007 from oanda.com/convert/fxhistory The Peoples Bank of China Decides to Expand Designated Banks Forward Sale and purchase of Foreign Exchange Business and Launch RMB Swaps against Foreign Currencies 2006. Retrieved September 19, 2007 from pbc.gov.cn/english/detail.asp?col=6800id=59. Pulizzi, H 2007, ‘White House: Yuan Reform Alone Wont Solve US-China Trade Woes’, Dow Jones International News, 6 September. Retrieved from Factiva database. Reuters 2007a, ‘China should revalue yuan faster: U.S. official’, 21 June. Retrieved September 24, 2007, from reuters.com/article/ousiv/idUSL2111360320070621 Reuters 2007b, ‘Rice: China doesnt play fair on trade, currency’, 6 July. Retrieved September 24, 2007, from reuters.com/article/bondsNews/idUSN0619427620070706 Somerville, G Palmer D 2007, ‘U.S. pass on China currency stirs Senate action’, Reuters, 13 June. Retrieved September 24, 2007, from reuters.com/article/politicsNews/idUSN1334224920070613?sp=true The Economist 2007, ‘Another shoe to drop: It is how steadily the dollar is falling that counts, not how swiftly’, 13 September. Retrieved September 24, 2007, from economist.com/finance/displaystory.cfm?story_id=9804394CFID=14864436CFTOKEN=90675586 Tung, CY Baker, S 2004, ‘RMB revaluation will serve China’s self-interest’, April. Retrieved September 21, 2007, from Macquarie University WebCT. US Department of Labor 2007, Archived News Releases for Consumer Price Index. Retrieved September 29, 2007, from bls.gov/schedule/archives/cpi_nr.htm Xinhua News Agency 2005a, ‘Yuan Peg to Dollar Scrapped’, 21 July. Retrieved September 24, 2007, from china.org.cn/english/2005/Jul/135685.htm Xinhua News Agency 2005b, ‘RMB Wont Float by Big Margin’, 22 July. Retrieved September 24, 2007, from china.org.cn/english/2005/Jul/135753.htm Yang, J Bajeux-Besnainou, I 2006, ‘Is the Chinese Currency Undervalued?’, International Research Journal of Finance and Economics, no. 2, pp. 106–130. Research Papers on The Value of the Chinese RenminbiDefinition of Export QuotasPETSTEL analysis of IndiaTwilight of the UAWAnalysis of Ebay Expanding into AsiaInfluences of Socio-Economic Status of Married MalesIncorporating Risk and Uncertainty Factor in CapitalAssess the importance of Nationalism 1815-1850 EuropeAppeasement Policy Towards the Outbreak of World War 2The Effects of Illegal ImmigrationThe Project Managment Office System

Alexander Calder Essasy essays

Alexander Calder Essasy essays Alexander Calder was born in Lawnton, a suburb of Philadelphia, on the date of July 22 1898. He was named Alexander after his father, Alexander Stirling Calder, and his grandfather Alexander Miline Calder. With all three of the Calder men being named Alexander, they needed something to set them apart from one another, so the youngest Alexander, developed the nickname Sandy. He got this nickname because he looked like Santa Clause with his flannel shirts on, and a clown with his big, baggy khaki pants. Sandys grandfather, Alexander Miline, was a wonderful sculptor. Philadelphias new city hall hired him in 1872 to design and model various figures. One of his best known statues that he made was one of William Penn. This statue took twenty years to complete, and the reason it took this long is because it stands thirty-seven feet high! Just to give you an idea about how big this thing is Penns nose is thirteen inches long, and his buttons are six inches in diameter. This statue weighed 60,000 pounds and had to be taken apart just to get it to the roof of the City Hall tower where it stands to this day. Sandys grandfather had six children one being Alexander Stirling Calder, Sandys father. Alexander Stirling Calder was also a great sculptor. Stirling seemed more sophisticated with his works and wanted more realism to his sculptors. However, the Calder name was still not really associated with art till Sandy came along. Sandy was the youngest of his family. He had a sister named Peggy that was two years than he was. His father, as you already know, was Alexander Stirling Calder and his mother Nanette Calder. When Sandy was three his mother and father sold their house in Lawnton and moved to an apartment in Philadelphia. When Sandy was little his mother and father often called on him to pose for them while they would sculpt. He would often pose in the nude as in the sculpture ...

Art Since 1945 12/07 Flashcards Example for Free (#1945)

Art Since 1945 12/07 related essay Chris Brown and Michael Jackson Mass immigration in the period 1945-c.70 a 1900 – 1945: Role of Women Innovator of the Modern Art Jeff Koons and Unknown Artist Art Appreciation Does Having a Recognizable Art or Design "Style" Limit One's Creativity? Art History - Modern Art:The Scene Since 1945 Art Quiz Artist 2 - Andy Warhol Marilyn Diptych, 1962 company About StudyMoose Contact Careers Help Center Donate a Paper Legal Terms & Conditions Privacy Policy Complaints Significance: -An overall composition with the only foreground that was created freely by letting paint freely move -canvas on the floor, the paint was dumped on the canvas – painting is very thick- used industrial house paint – Patriotic expression and style – an American style – Part of the work is knowing how Pollock does it -Inspired by native American sand paintings (sand design) Significance: – A challenge to question whether it is an object or fine art – Gets rid of individual expression of artist – Ironic message – recognizable image of recognizable celebrity put on gold background compared to the past of putting gold behind religious subjects – Iridescent gold on canvas with paint for marilyn’s image/silkscreen Significance: – Artist said anything can be a commodity and so he found an area in the air, called it a zone of immaterial pictorial sensibility – The artists threw a customer’s gold in the river, wrote a receipt, burnt the receipt and threw the ashes into the river – commenting on consumer culture by destroying the idea of physical art – the idea that â€Å"anyone will buy anything that is considered art† Significance: – Large, colossal, displaced land called Land art – Took tons of black basalt rocks to create this land art – Idea was focused on displacement, destruction and direction – Sometimes visible, sometimes not – Non-Traditional art Significance: – 13 plates on each side totalling 39 plates since it is a triangle – Each side relates to a time period – Made to give credit to women since they do not get much credit in history – Collaborative work of all women, different embroidery, carpenters, etc – shows all different contributions of women throughout time – Shaped like an equilateral triangle to symbolise equality – The floor contains 999 names of different women -Banal: every day, unimportant things that are not noticeable – but often precious moments – Sculpted by traditional sculptors, experts of porcelain, European craftsman – not ready-made sculpture which is a common misconception – A life-sized sculpture of Micheal and his pet monkey Bubbles – The sculpture comments about race and America, changing appearance to be famous, Michael Jackson’s skin – Inspired by pieta – comparing Jackson to Mary holding Jesus We will write a custom sample essay on

Safavids and Ottoman empire Essay Example | Topics and Well Written Essays - 750 words

Safavids and Ottoman empire - Essay Example Being born in a more peaceful religious background the ideologies the Safavid Empire were more religion centric and less militarist in nature than the Ottoman Empire that was initially a response to the crumbling Seljuk Sultanate trough the conquering of the Byzantine territories at the northwest of Anatolia. Therefore being positioned at the frontline of the Christianity vs. Islam conflict the Ottomans empire-builders had to restructure their political system as capable of defending the Empire from any outside invaders as well as sturdy enough to lead any quick and effective offense into the heart of Eastern Europe. Military power was the most important and common component of both of the Safavid and the Ottoman Empire. The policies as well as the ideologies of these had been greatly shaped by the militarism of those empire-builders. Indeed the militarisms of these empires were fervently supported by the ideologies and policies that they adopted. Indeed the moral strengths and the p opular support were achieved mainly by managing the commoners’ religiosity but in two different ways. ... Apart from the support of the mass population, the imams or religious leaders had a large group of followers known as Qizilbas who later serves as the muscle power. When the Ottomans used a regular army from the very beginning of the Empire, the Safavids initially were the disciples of the twelve Imams. Referring to the Shiite Imam’s use of religion to legitimatize their position in power, Robinson says, â€Å"During the 15th Century the order was transformed into a revolutionary movement†¦.acquired political importance as the Safavid Sheiks commanded their disciples to fight for these beliefs † (52). The Ottomans primarily focused on the capturing the European cities and thus annexing them to the Empire. They grew a culture in which people of all religions, Islam, Christianity, and Jews, could live peacefully. Capturing the cities that were formerly under the control of Christian rulers and leaving them under the existing Christian troops as vassals were a common practice in the Ottoman Empire. This strategy, indeed, helped the Ottoman rulers to save energy to pay their attention to conquer more cities and countries in the Eastern European. Also it inspired to the Christian troops as well as commoners either to be converted to Islam or to participate in the Ottoman army spontaneously. Indeed the Empire was benefited from the inclusion of the Christian troops into the army, because those Christian and the converted troops enhanced the army’s capability to fight in the unfamiliar east European Environment. But in the early16th century, when the Ottoman rulers focused their attention on brining entire state under the control of a unified army, the primary condition for one to participate in the army

Genetics Article Example | Topics and Well Written Essays - 250 words

Genetics - Article Example Atherogenesis and increased afterload and left ventricular hypertrophy are identified as the two ways that link hypertension and coronary heart disease. Physical activity and healthy lifestyle behaviors are some of the nonpharmacological interventions to the treatment of hypertension in patients who have coronary heart disease. The pharmacological interventions discussed are the agents of antihypertensives that include beta-blockers and angiotensin-converting enzyme. The article also proposes a combinational therapy that uses different antihypertensives and other therapies in the treatment of hypertension. It concludes that the goal of hypertension treatment should be to reduce mortality and morbidity that is caused by hypertension and coronary heart disease (Olafiranye et al 9). This article could help researchers study the different hypertension treatment alternatives and their effectiveness. It could help doctors and nurses offer better care to patients who have hypertension. In addition, the article establishes a basis for evidence based research and evidence based practice for managing hypertension, and is therefore applicable researchers in the healthcare profession. Olafiranye, Oladipupo, Zizi, Ferdinand, Brimah, Perry, Jean-louis, Girardin, Makaryus, Amgad, McFarlane, Samy & Ogedegbe, Gbenga. Management of Hypertension among Patients with Coronary Heart Disease. International Journal of Hypertension, 2011: 1 – 6, 2011. Print. Retrieved September 25, 2014 from