Advise Goldcorp Ltd Essay Example | Topics and Well Written Essays - 1250 words

Advise Goldcorp Ltd - Essay Example The RoT clause is an agreement that allows the seller of goods to hold ownership/retain title, of the goods until the occurrence of a specified/agreed event; that event being either the payment of supplied goods, or payment of all money owed1. By agreeing to the RoT clause the buyer of the product agrees that until payment of the purchased goods is made the company that is selling the goods holds ownership claim to the goods, and hence can exert that claim anytime it wants. This allows the selling company to protect its investment. During the insolvency proceedings, a RoT ensures return of owed money which otherwise is highly unlikely under the circumstances2. Goldcorp Ltd. has been in regular business with GT Jewelers. Both entered into doing business with each other by signing an agreement that also included a RoT clause, of which both parties were aware. After the GT Jewelers failed to remit payment for the months of September and October while Delivery had been made, Gold Corp Lt d. enforced a RoT to the GT Jewelers. Under the RoT, Gold Corp Ltd have claimed the ownership of: 1 kilo of gold in their vault, stamped with Goldcorp Ltd’s seals, A tank containing 2 kilos of melted gold bullion, 150 gold and diamond engagement rings worth ?5,000 each, and ?25,000 representing proceeds of sale of gold by GT Jewellers Ltd to another jewellery manufacturer. Gold Corp cannot rely heavily and positively on their RoT to claim their goods/money. The absence of certain clauses makes Gold Corp an unsecured creditor thus making the chances of receiving owed payment meak. The Rot fulfills the first most condition of being a valid contract since it was agreed upon by both parties before the business. There are scenarios which can either render the RoT ineffective or simply lead to its termination, the RoT does not consist of any clause signifying the conditions under which the RoT will be void or terminated, thus the RoT holds valid between the two companies3. Gold Cor p Ltd has demanded 1 Kilo of gold, stamped with Gold Corp seal. The company can claim the gold under the clause (i-a) of the RoT. This is a separate goods storage clause which states that until full payment has been received by Gold Corp for all gold supplied to GT Jewellers by Gold Corp Ltd. to GT Jewellers and at whatever time: property in the goods shall remain in the Company and such goods must be marked as belonging to the company and stored separately. This clause allows the Gold Corp Ltd. to reclaim 1 Kilo of gold as they are still unsold and in the possession of the buyer, who under the RoT was obligated to store the goods separately from goods of other parties and in an identifiable position4 till payment had been made by GT Jewelers. Although since the RoT did not consists of an extended clause of ‘allowing the seller to have the right to access the premises of the buyer in order to determine whether the obligation is being complied with’5, there is no assuret y that GT Jewelers actually complied with having stored the unsold good in an identifiable position. Gold Corp Ltd. has ascertained that they claim ownership of ‘a tank containing 2 kilos of melted gold bullion’. Under i-b of the RoT, which states that, if GT Jewellers converted the supplied gold into any new product either by including some other product in the mixture and in whatever proportions such conversion will be considered under the rights of Gold Corp and beneficially and legally ownership will reside in Gold Corp, Gold Corp has legal rights to claim the 2 kilos of melted

The importance of ethics in the safety profession Research Paper

The importance of ethics in the safety profession - Research Paper Example By minimizing the number of such preventable events the US has a lot to gain. It has been estimated by National Safety Council that in 2004 accidents in the United States cost more than $ 574.8 billion, losses related to fire reached to the total of $9.8 billion. Exposure of persons to dangerous physical, biological and chemical agents create major losses every year causing severe illness and it is really difficult to make precise estimate of their impact. Additionally, all kind of pollution causes harm to every single form of life which therefore generates heavy cleanup costs bullies future stability of earth. The word â€Å"safety science† might sound latest, but many of the resources of this science are quite a number of years old. Some of the most knowledgeable areas of safety science are mentioned below and every field involves ethics that needs to be taken care of. 1. Chemistry and biology – knowledge about hazardous substances is provided by chemistry and biology . 2. Information about electricity, heat, radiation and all other kinds of energy is provided by physics. 3. The performance limits of humans and the ways in which improvements pertaining to performance and safety can be made are provided by ergonomics. 4. The knowledge about pollution, how it can be controlled and its impact is revealed by environmental sciences. Factories create a lot of pollution and there are often some that do not dispose of their waste products properly which is against ethical standards. 5. To understand the human behavior psychology is studied and this helps in avoiding accidents. 6. Other information about safety in the society is provided by engineering, business management and sociology. Various things can cause accidents and contribute to illness and other hazardous things such as fire and explosions. The ability to identify, evaluate, and control or prevent such kinds of hazards is provided by safety science. Moreover, it also provides with the methods to set policies and to operate the activities ensuring safety and the ethical standards. Hazard control activities are used by everyone all over the world on a daily basis and companies use designs for operation of nuclear power generating stations and is also used by homes for lead based paints to reduce any kind of threat to the public. Since the safety profession is highly important especially for the companies, its application occurs in various other places such as transportation, schools, and laboratories and on farms too in order to ensure safety so that people are not exposed to hazards. Safety science helps in understanding about the ways in which something can become a hazard and the people must know about the harms of the hazard and the ways in which it can be eliminated. However, in the cases in which the hazard cannot be eliminated totally, there are always some ways in which the harm can be reduced. However, this involves a cost and also requires the assistance of the d esigners and managers. The safety professionals come up with the cost effective ways in which the risk can be reduced and they also provide with their advice to apply the safety science so that all the activities are conducted in a careful manner. If safety science is not present, the safety profes

Play Therapy Theories Children And Young People Essay

Play Therapy Theories Children And Young People Essay Play is important for the childs holistic development including their physical, language, social, emotional and cognitive development. Play allows children to learn naturally from the world around them to gain life skills and understanding Play allows children to freely explore the world around them, without adult direction. Play allows the child to create, challenge, imagine, engage and explore satisfying activities for both themselves and others. Children may use equipment; play alone or with others, in energetic or calm manner. Play is a vital component for a childs development and lives and is essential to be promoted where possible (Play England, 2007). Play is the primary and natural medium of communication for children (Axline, 1947). Children may not have the capacity to use words to express themselves, but with the assistance of play therapists, communication and understanding can occur between both the child and therapist. As children do not have the same abilities to communicate and express themselves verbally and as effectively as an adult can, play gives children the opportunity to express their emotions and experiences. This can provide a foundation to build relationships with the play therapist and others, allowing their needs and requirements to be known and to gain a better understanding of themselves (Landreth, 2002). Play therapy then, is a medium of therapy in which play is used, to observe children engaging in play. By providing resources of play materials and knowledge of theory around play therapy, therapists can identify and examine the childs underlying issues. Wilson Ryan, (2005) state that the importance of play therapy is to allow children move from being unaware of their hidden, unconscious feelings they may have as a result of life experiences, and gain an understanding of their emotions and experiences enabling them to come to terms with feelings. OConnor and Schaefer (1994) maintain the aim of play therapy is to bring children to a level of emotional and social functioning or level with their developmental stage. This can allow usual developmental process to be resumed. Play Therapy is an active process between both the play therapist and the child. It allows the child to explore their surroundings at his or her own pace. The child has his or her own schema of their issues which may be current and of conscious awareness or, hidden in the past and possibly buried in the unconscious. These issues whether of conscious awareness or not may affect the childs daily lifestyle influencing feelings and behaviour. Play therapy is child centred and the play therapist focuses on play as the first and paramount medium of therapy, with speech the second medium of therapy (British Association of Play Therapists, 2008). The Irish Play Therapy Association (2013) claim, Play Therapy is an effective method of therapy for children who display or encounter many difficulties or issues. Behavioural difficulties may include depression, aggression, anxiety and other issues relating to difficult encounters or life experiences of abuse, death of a family member, divorce or separation and trauma (www.ipta.ie, 2013). A history of Play Therapy Play Therapy dates back as far as 1909 in Europe with the work of Sigmund Freud (1909/1955) and the first documented psychoanalytic therapeutic work focusing on a child was the case of Little Hans. Freud discovered the childs phobias through observations of his play behaviours and dreams. This case encouraged further development of Freuds work and eventually the development of play therapy. While Freud used interpretation of the unconscious motivation of a child building a relationship with the child, but he came to the understanding that unlike adults, children do not decide to enter into psychoanalysis. Without consent or understanding the therapist brings the child into this analysis. Anna Freud (1946) followed her fathers interest of play, but developed her own theories. She held that adults undergoing psychoanalysis are required to provide the therapist with information to assist the session, however with children the background information is expressed usually, but not always by the parent. Melanie Klein (1955) believed the use of psychoanalysis could benefit children in a variety of ways, even if their development was atypical. Klein also believed in using observations with children during their play and behavioural actions and not through their expression of speech as is used within adult psychoanalysis. Klein therefore introduced toys into her sessions to promote play and allow observation of actions to occur. Virginia Axline working in America was influenced by Carl Rogers work on non- directive client centred psychotherapy. Therefore, Axline built on Rogers theory resulting in a new therapeutic approach for working alongside children, known as non directive play therapy. As in adult psychotherapy, the relationship between the therapist and the child in play therapy is based on being genuine, on acceptance and trust. The theory is that if children are given the opportunity to freely express their feelings and emotions they will resolve these issues themselves, using play experiences and the assistance of their play therapist in order to achieve this (Wilson Ryan, 2005). Axline (1950) stated that non- directive play therapy is a play experience that is therapeutic because it provides a secure relationship between the child and the adult, so that the child has the freedom and room to state himself in his own terms, exactly as he is at that moment in this own way and in his own time (p. 68). Axline based her theory on her work with a young boy called Dibs. Axline held that Dibs healed himself through no direction over a period of time. She said No-one ever knows as much about a human beings inner world as the individual himself. Responsible freedom grows and develops from inside the person. (Wilson Ryan, 2005). Axline, unlike Freud and Klein who both focused primarily on psychoanalysis, believed children would do their best to meet their full potential and by providing a therapeutic relationship and approach which would support that development. Many therapists today base their work on Axlines (1947) eight principle guidelines Axlines principles outline, The importance of developing a relationship between the therapist and client from the beginning. Accepting the child and who they are without judgement. Provide the child with a safe environment to express their feelings completely. The therapist is alert and available to provide the child with feedback to assist the clients behaviour, The therapists provides the child with a scaffold to learn how to cope and solve their own problems and to respect their choices. The therapist is required not to direct the child in any manner, unless where the childs safety is at risk. The therapist allows the child to lead the session and the therapist follows their lead. The therapist is patient and understands it is a gradual process requiring time. The therapist provides limits that are essential to assist the therapy into a sense of reality and provide the client with information in relation to their responsibilities within the relationship (Axline, 1947). Based on Axlines theory of non-directive play therapy, Landreth (2002) developed his theory of Child Centred Play Therapy. Landreth (2002) states the relationship between the child and the therapist must be different from other types of relationships the child has experienced. The relationship between the two is to ensure the child feels safe and comfortable to be expressive within their play, allowing natural communication to occur. He believes the true foundation to the relationship within child centred therapy is that of the bond between the therapist and child (Landreth 2002). Another influential contribution to the area of play therapy is the work of David Levy (1938). Levys Release Therapy allows children release their anxieties through controlled play set out by the therapist. Levy provided free play therapy based on Kleins theory of free play. Toys are introduced into the settings that are related to the event that requires intervention and the child plays freely with the chosen toys. Growth of Play Therapy Child psychotherapy has established a strong tradition across Europe and has grown significantly. In Ireland, child psychotherapy has grown more slowly in comparison to American and Europe. However, professionals interest in play as a therapeutic intervention has developed gradually over the past decade. Practioners are becoming more increasingly aware of the seriousness of emotional issues experienced by children and the difficulties that may arise. These children are likely to require more serious treatment that may not be available to them. Play Therapy Theories and Approaches There are two techniques used within Play Therapy, non- directive Play Therapy and Directive Play Therapy. Non directive play therapy approaches are referred to as , child-focused, client centred and unstructured, where components of directive play therapy are described as structured, directive and focused Gil (1994). Gil (1994), elaborates on various directive play techniques, including behavioural or gestalt, but suggests that non directive play therapy is a more child focused approach. He explains that non-directive play therapy provides the child the freedom to participate in their own way throughout the session, allowing the therapy to move in specific direction required for the session. Within structured play therapy, the play therapist plans activities adapting a directive play approach. During the formation of a relationship between the therapist and client within directive Play Therapy a less directive technique is used. This allows the therapist to build a foundation to the relationship and over time, directive techniques are weaned into the relationship (Jones, Casado and Robinson, 2003). Similarly, supporting this concept, Berting (2009) suggests that building on the concept on developing a therapeutic relationship using a less directive approach is best practice, before proceeding with more directive activities in the core area of the play therapy session. He also suggests observing the childs need to be able to or prepared to carry out directive play therapy. Non-Directive Play Therapy ( who are the key people in NDPT and explain what you will discuss With over 60 years of influential work, Axlines contribution to non directive play therapy was outstanding. He is known as the founder of non directive play therapy and his work still influences play therapists in many ways. He believed the play therapist should have very little influence on the clients play and the client should communicate through their play, which is still a core principle today. The idea of reaching your full potential as a child in play therapy was originally proposed by Axline (1947). He explained the theory of progressing towards full potential occurs because of the formation of the therapeutic relationship, and not that of specialised techniques. Ray, Blanco, Sullivan, and Holliman (2009) support Axlines theory by stating the play therapists develops a relationship with the client by building on their acceptance.. In return, the client develops self-acceptance which results in moving towards their full potential. Today, play therapists continue to build on the foundations of non-directive approach guided by Axlines creative work, the area of non-directive play therapy continues to progress, more than 60 years later. Client-centred play therapy. Developing the ideas of Axline (1947) and Moustakas (1959), Landreth (2002) improved their theories to develop client centred play therapy. In Play Therapy Virginia Axline (1947/69) suggests that the individual has within himself the ability to solve his own problems, and that in play therapy, where conditions for growth are optimal, the child reaches for independence (Axline, 1955). She expressed the importance of the therapist to allow the child to explore and investigate the room and toys with his own initiative with support of the experience and the relationship (Axline, 1955). Star this section from Moustakas Moustakas (1959) felt children required the need to feel they were understood gain self directed skills in order to grow. These skills could be achieved through client centred play therapy, focusing on the clients direction throughout the session. Astramovich (1999) supported the client centred therapy approach stating it focuses on the growth and development of the child, and this can be achieved by the child directing their own play through the session. Directive Play Therapy Explain to the reader what approaches you will cover: McMahon (1992) states directive play therapy aims to prepare children for an event that is about to occur, for example surgery or other unpleasant events. Directive play therapy works towards treating the childs anxieties they may be unaware of. McMahon (1992) suggests the directive approach is closer to psychotherapy than to Axlines non directive theory. She elaborates on the therapist having the skills to deal with unexpected circumstances which may arise, and always be prepared and accept the childs response. Oaklander (1978) holds that there are the benefits of fantasy and projective methods to use in directive play therapy. He suggests asking children to draw their family as symbols or animals, directing their play to observe their emotional needs. The use of Gestalt methods is expanding over time, the theory behind this approach is beneficial to the child to deal with their feelings they are experiencing at the present, instead to going too far back towards traumatic experiences (McMahon, 1992). Cognitive Behavioural play therapy Cognitive behavioural therapy (CBT) is a form of psychotherapy originally developed for adults, and aims to identify and modify negative thinking styles that cause negative emotions and the maladaptive behaviours associated with those thinking styles (Knell Dasari, 2009). Cognitive behavioural play therapy is a sensitive approach seen to be effective when working with children based on CBT from 8 years and above with various disorders. Cognitive behavioural play therapy is used to teach children strategies to change their negative thinking and views in order to develop positive thinking and understandings (Knell Dasari 2009). Green (2008) elaborates on the various styles of the cognitive behavioural approach used within play therapy including, changing their cognitive development, discussing and eliminating senseless beliefs or ideas and cognitive misrepresentations. The play therapist modifies the cognitive behavioural therapy to suit the needs of the child within play therapy. Gestalt play therapy Gestalt play therapy, according to Oaklander (2001), focuses on the holistic views of the child, including their body, their emotional state, and their mind. Gestalt Play therapy focuses on the childs ability to understand how to express their emotions and is essential for a healthy understanding of their own emotions. Oaklander (2001) supports his theory by developing a variety of ways to express ones emotions. Oaklander (2001) suggests clay, art, crafts and puppets to help assist the expression of emotions through play in a directive manner. The Gestalt work focuses on the what and how rather than the why as found (Oaklander 2001) found. Alderian Play Therapy Within Adlerian Therapy, the therapist focuses on and examines the lifestyle of the client and tries to form a relationship of respect and trust with the client in order to set and reach their goals. Adlerian play therapy is a little different as it sets out to appeal to the child but is focused on the Adlerian method just in a child friendly manner. (Morrison 2009). Kottman (2001) suggests Adlerian play therapy may use techniques from non- directive and focused play therapy in order to the help the child build confidence, courage and abilities by using the Adlerian play therapy method. It is believed within the Adlerian method behaviours carried out by the client are intentional and by using the Adlerian method of play therapy, children can learn to develop coping mechanisms and strategies as suggested by Kottman and Warlick (1989). Psychoanalytic play therapy Melanie Klein, Anna Freud, studied under the Freudian psychoanalysis each developing their beliefs. Both individuals had a major influence of the development of psychoanalytical play therapy Melanie Klien believed all play was symbolic; in contrast to this Anna Freud believed it was the replay of real life events. Anna believed play therapy was allowing children to talk about the conscious feelings and thoughts and to act out the unconscious; however Klien in contrast to Anna Freud made interpretations from the unconscious meanings to from their play and felt strongly this was the correct understanding (McMahon 1992). Freud argues for the importance of building a relationship between the therapist and the client in order to provide adequate therapy to the client. She did not believe in interpreting the clients play until the relationship was developed amongst both parties (Cattanach, 1992). Klien argues against Freud, emphasising the importance to begin interpretation without the foundations of a relationship with the child resulting in delays to the therapy (Cattanach, 1992). Parental / Primary Carer Involvement The input and involvement of the primary carer is significant when providing Play Therapy to Children. Involvement provides positive outcomes to both the therapist and the child. The therapist can receive back ground information of the problem, the events and behaviours, the primary carer can provide the therapist with information in relation to the childs progress. Primary carer involvement provides security, stability and emotional support for the child if the therapy may become distressing for the child. A parents emotional availability is suggested to be the tool to success of Play Therapy (Wilson Ryan, 2005) Primary carers may be unaware of what Play Therapy is, and how it is used. As the primary carer brings the child to the centre weekly it is suggested that the therapist should provide adequate information and assistance in relation to the treatment and their part in the therapy (Wilson and Ryan 2005). The therapist should ensure they dont replace the parent child relationship although their relationship is significant for successful results and progress. Play Therapists can involve parents in a variety of ways, for instance the therapist can ask for the parent to sit in on the therapy to assist the settling period, therapist provide feedback to the parents, after each session or after a particular period of time. This can allow therapists provide parents with advice and ideas of how to bring the therapy into the home and provide consistency (Landreth, 2001 and McGuire McGuire, 2001). Training There are independent organisations that within their own country have their own play therapy training; however they adopt the standards of Play Therapy Internationals standards. Their training is recognised and certified. Play Therapy Ireland, Play Therapy United Kingdom and Play Therapy Canada are well developed and link with Play Therapy Ireland through their practice. Other countries are gradually developing their own Play Therapy International standards. The Childrens Therapy Centre are the only APT approved provider in Ireland. Their courses are recognised by the Irish Association for Play Therapy and have approved quality assurance standards with both FETAC and HETAC. Conclusion In this chapter a review of the current literature relating to play therapy was addressed. I will present a small scale study carried out on the perception of Play Therapists. In the next chapter I will outline and discuss methods for gathering data for this study. A

Environment and Economy of Kuwait :: Geography

Environment and Economy of Kuwait Kuwait is not self-sufficient in agriculture but the country will be in the future. Its production of cereals, vegetables and fruit grown in the oasis of Jahra and scattered smallholdings is not sufficient for the population's needs, due to limitations of water supply, fertile soil, climate and manpower. Much of its food needs to be imported but government investment and the work of the Kuwait Experimental farm have led to improvements whereby existing resources are more efficiently utilized. Kuwait is a small arid desert land of about 6200 square miles. There is virtually no natural source of fresh water. Climatic conditions entail occasional high winds and dust storms, little or no rainfall, and summer temperatures as high as 120Ã ¸F. "Consequently, arable land amounts to less than 9% of total acreage."1 Soil deficiencies and the intense heat and sunlight allow continued cultivation only by expensive underground pipe-fed irrigation or by hydroponics. Ordinary irrigation under these conditions results in gradually increasing soil salinity. this phenomenon has been the cause of the estimated 1% annual decrease in arable land for the region as a whole. Hence, development of traditional agriculture is severely restricted. Kuwaitis are under no illusion that self-sufficiency will take less than 20 to 30 years to attain and even then it cannot include such items as beef and cereals. For Kuwait cereal production is considered too expensive and unnecessary. Self-sufficiency in poultry, vegetables and fruit is a visible goal: already Kuwait produces 60% of the eggs it needs, 40% of the poultry meat and 100% of the tomatoes. The next emphasis is likely to be on dairy farming and animal husbandry to increase the 25% of the required milk supplies that is produced in the country. The Kuwaitis are very conscious of the fact that urban growth and the hunting of animals which used to live in the desert has meant the virtual extinction of wildlife. Kuwait is importing from many countries animals such as cows, chickens and sheep. In view of Kuwait's extremely unpromising natural environment which was made even worse after the Persian Gulf War, the key to all its hopes for self-sufficiency lies in research and experiments. Their experimental farm research farm:Omariya, the Kuwait Institute for Scientific Research and the Kuwait Fund for the Advancement of Sciences are engaged in a variety of projects concerned with the hybridization of plants, animal breeding, the increase of yields in desert conditions, the treatment of brackish water and effluent water, irrigation methods, etc.

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