Critical Evaluation of Currency Unification of GCC Countries The Essay

Critical Evaluation of Currency Unification of GCC Countries The Potential Impact On Member Countries - Essay Example The problem is that the countries in the region do not have enough convergence to make a unified currency work. The per capita incomes between the countries are wildly divergent, as are the debt levels. Plus, only two of the countries have met the threshold regarding inflation. When there are such differing economic problems with each country, there is a need for an autonomous monetary policy that will allow each country to the independence to use exchange rates to fix whatever is broken with their economies. Having a unified currency takes this autonomy away, taking a one-size-fits-all approach to every problem. While the issue of the divergence in economies has been masked by the fact that all the countries in the union have the same economic basis, ie, oil, this is not going to last forever. Therefore the countries in the GCC have to align their member countries with similar economic policies that will be designed to bring the countries more in line with one another on the key eco nomic factors that will make a unified currency work. ... y have to attempt a similar tact as this, however, since the GCC is still a long way from having enough convergence to have a unified currency, it will be a number of years before the GCC will be ready for this, even if the countries change their economic policy right now. This paper will examine the factors that are necessary to have a currency union, as well as examine if the GCC countries meet the standard. There are certain hurdles that need to be faced in order for the currency unification to become a reality, and these will also be examined in greater detail. Further, there are drawbacks and benefit to unified currency, and this will be another section of the paper. Finally, there will be a conclusion and recommendations for the GCC. What is a monetary unification? Monetary unification is a common currency in a region. There are two conditions that economists believe are essential to having a common currency. Mundell (1961) believes that the perfect factor mobility within the r egion is essential for monetary unification, while McKinnon (1962) believes that the openness of the economy is the necessary condition for the adoption of a unified currency.1 If a region can achieve one or the other, preferably both, then that region would be considered to be an optimum currency area (OCA). Monetary integration involves the â€Å"irrevocable fixing of exchange rates, full and complete convertibility of currencies, financial market integration, the complete liberalization of current transactions and a common monetary policy.†2 AlKhilifey & Alreshan (2009) state that a region with unified currency will display the following characteristics: First, the region will have a single currency. Second, the region will have a central bank that will set the monetary policy for the

Negotiating a Disciplinary Procedure Essay Example | Topics and Well Written Essays - 1250 words

Negotiating a Disciplinary Procedure - Essay Example According to the paper, alleged inadequacies of performance, which include proficiency and competence as set out in the Unfair Dismissal Act 1977 and conduct are grounds for punitive action, meaning that the disciplinary procedure may be initiated and that a sanction may follow if the case against the employee is found to have substance. It should be noted that minor instances are normally dealt with informally for a â€Å"ticking-off â€Å"incident for an isolated incident of lateness for example and this is because they will not require numerous procedures in coming to a decision. There is an obligation under section 14 of the Unfair Dismissal Act 1977 that within 13 weeks of starting employment in any organization, the employees must be given the procedure and rules used for disciplining or dismissing them from the workplace. Such procedures may be contained within a collective agreement, which is normally after a negotiation between the employer and employee or be established b y custom and practice. Other than this, there is no formal guidance on what the procedure should contain: the Act is silent, and currently there is no code of practice on the subject, although there is an area where the Labor Relations Commissions may take action. The guidance that is not provided for comes from decisions of the Employment Appeals Tribunal, which stipulates the rules of engagement. Conveying a clear punitive policy is important to define workplace expectations and the methods the employer will use in correcting behavior that is not in line with the organizational standards. This ensures that all employees are aware and adhere to the code of conduct in the organization failure to which they face sanctions or the disciplinary actions that the misconduct accrues.

The causes and effects of globalization

The causes and effects of globalization Introduction Globalization is the integration of world cultures and economies. Whether aware of it or not people everywhere are witnessing and contributing to the globalization process everywhere. It effects societies, politics and ways of life around the world and is driven by human migration, international trade and integration of financial markets. Although recently on the rise due to tremendous technological advancements there is nothing new about globalization. Even in the Middle Ages explorers such as Ibn-e-batuta and marc-o-polo started it off with epic journeys and returning home with tales of different cultures and places. Trade drives globalization today, modern transportation and telecommunications have made it easier to export and import from faraway places. United in diversity this is the motto of the European Union which began as an agreement between six countries with the goal of creating lasting regional piece. The big star of globalization today is undoubtedly the internet enabling interpersonal communication and business transactions in a matter of seconds; it has revolutionized our world in only a few years. Migration plays a major role in the worlds economy, the World Bank estimates show that migrants in developed countries sent home more than 223 billion dollars to their families in developing countries in 2005. Some traditional descriptions of globalization and economic globalization include: Definitions Globalization: It is the process by which regional economies, societies, and cultures have become integrated through a global network of political ideas through communication, transportation, and trade. The term is most closely associated with the term economic globalization: the integration of national economies into the international economy through trade, foreign direct investment, capital flows, migration, the spread of technology, and military presence. However, globalization is usually recognized as being driven by a combination of economic, technological, socio cultural, political, and biological factors. The term can also refer to the transnational circulation of ideas, languages, or popular culture through acculturation. An aspect of the world which has gone through the process can be said to be globalized. Economic Globalization: Economic globalization refers to increasing economic interdependence of national economies across the world through a rapid increase in cross-border movement of goods, service, technology and capital. It is the process of increasing economic integration between countries, leading to the emergence of a global marketplace or a single world market. Depending on the paradigm, globalization can be viewed as either a positive or a negative phenomenon. Economic globalization comprises the globalization of production, markets, competition, technology, and corporations and industries. Whilst economic globalization has been occurring for the last several hundred years, it has begun to occur at an increased rate over the last 20-30 years. This recent boom has been largely accounted by developed economies integrating with less developed economies, by means of foreign direct investment, the reduction of trade barriers, and the modernization of these developing cultures. Effects of Globalization: Globalization has various aspects which affect the world in several different ways Industrial emergence of worldwide production markets and broader access to a range of foreign products for consumers and companies, particularly movement of material and goods between and within national boundaries. International trade in manufactured goods increased more than 100 times (from $95 billion to $12 trillion) in the 50 years since 1955. Financial emergence of worldwide financial markets and better access to external financing for borrowers. By the early part of the 21st century more than $1.5 trillion in national currencies were traded daily to support the expanded levels of trade and investment. As these worldwide structures grew more quickly than any transnational regulatory regime the instability of the global financial infrastructure dramatically increased as evidenced by the financial crisis of 2007-2010. Economic realization of a global common market, based on the freedom of exchange of goods and capital. The interconnectedness of these markets, however, meant that an economic collapse in one area could impact other areas. With globalization, companies can produce goods and services in the lowest cost location. This may cause jobs to be moved to locations that have the lowest wages, least worker protection and lowest health benefits. For Industrial activities this may cause production to move to areas with the least pollution regulations or worker safety regulations. Job Market- competition in a global job market. In the past, the economic fate of workers was tied to the fate of national economies. With the advent of the information age and improvements in communication, this is no longer the case. Because workers compete in a global market, wages are less dependent on the success or failure of individual economies. This has had a major effect on wages and income distribution. Competition Survival in the new global business market calls for improved productivity and increased competition. Due to the market becoming worldwide, companies in various industries have to upgrade their products and use technology skillfully in order to face increased competition. Cultural growth of cross-cultural contacts; advent of new categories of consciousness and identities which embodies cultural diffusion, the desire to increase ones standard of living and enjoy foreign products and ideas, adopt new technology and practices, and participate in a world culture. Ethical The creation of the international criminal court and international justice movements. Crime importation and raising awareness of global crime-fighting efforts and cooperation. The emergence of Global administrative law. Conclusion Globalization has been happening for centuries and in spite of its dangers it is an immense force for growth and prosperity. We will conclude this discussion by presenting an interesting work by Benjamin R. Barber Jihad vs. McWorld How Globalism and Tribalism Are Reshaping the World. Jihad vs. McWorld is the title of a 1992 article that was later adapted into a book by political scientist Benjamin R. Barber, in which he puts forth a theory that describes the struggle between McWorld (globalization and the corporate control of the political process) and Jihad (tradition and traditional values, in the form of extreme nationalism or religious orthodoxy and theocracy). As economic liberalism is the force behind globalization, this critique is relevant on a much larger scale. Unregulated market forces encounter parochial (tribal) forces. These tribal forces come in many varieties: religious, cultural, ethnic, regional, local, etc. As globalization imposes a culture of its own on a population, the tribal forces feel threatened and react. More than just economic, the crises that arise from these confrontations often take on a sacred quality to the tribal elements; thus Barbers use of the term Jihad. Barbers prognosis is generally negative he concludes that neither global corporations nor traditional cultures are supportive of democracy. He further posits that McWorld could ultimately win the struggle. He also proposes a model for small, local democratic institutions and civic engagement as a hope for an alternative to these two forces.

KOSOVO PEACE ACCORD :: essays research papers

Kosovo Peace Accord Kosovo is the southern province of Yugoslavia and is spread over an area of approximately 4300 miles; of the two million population, 90% are Muslims and 10% are Serbs. The Muslims had been demanding independence for the past few years but the Yugoslavian President Slobodan Milosovic played the butcher's role by shelling and destroying valleys of the Albanian Muslims. The Serbs, under his orders, committed heinous crimes, which included gang rapes of Muslim women and torturing thousands of Kosovers to death. The world condemmed Serb atrocities but Milosovic was unmoved and continued his brutal behavior. When the situation got worsened, the European Council and the NATO took a serious note of it. NATO threatened Yugoslavia with air strikes if Milosovic did not come to terms. Peace talks were arranged in France and draft of the peace Agreement was prepared. The Kosovo Albanians signed an international peace plan in 1999 but Milosovic did not sign it, and consequently NATO gave March 24, 1999 as the deadline to Milosovic to sign the peace plan failing which Yugoslavia would face NATO air strikes. NATO started its air strike when Milosevic failed to sign the peace accord by March 24, 1999. It bombed civil and military targets all over the Yugoslavia, which included military installations, oil refineries, ammunition stores, airfields, Radio and T.V. Stations etc. These air strikes continued for 79 days till 10 June 1999, but during this period, the Serb atrocities continued, which forced about half the Muslim population (Muslim Albanians) to leave Kosovo and seek refuge in Albania and Macedonia. Apart from supporting NATO, the United Nations also helped the refugees by providing them food and shelter. The NATO strikes inflicted heavy damages upon Yugoslavia, which forced Milosovic to accept the international peace plan. With the acceptance of the peace plan by Belgrade, the 79 days NATO bombing was temporarily suspended on 10 June 1999. Simultaneously the Serb troops were withdrawn, and NATO and Yugoslavia military commanders held talks in Macedonia to implement the peace terms. The Serb troops were replaced by the UN peacekeeping force (KFOR); thus, began the "Operation Joint Guardian" aiming at the return and rehabilitation of Kosovo refugees in Kosovo. It was a huge and challenging task as the province of Kosovo was badly damaged due to the war. The UN Security Council, on 10 June 1999, had adopted the peace plan for Kosovo by 14-0 votes which asked for the replacement of the Serb forces by the 50,000 peace-keeping force (KFOR) in Kosovo.

Physics in Sports Essay

Everything from kicking a ball into a goal to running from one side to the other side of the field is based on physics. Physics plays a key role in sports; it can impact on a player either positively or even negatively. Gravity, friction, motion and projectile affects sport in every aspect. How physics affects Sports No matter how hard or high you kick a ball as a result of gravity it will be pulled back down to earth. Although the rate at which it descends may vary on its mass and surface area, it will still have to come down. If thrown at any other angle than 90iit will have a parabolic path (trajectory). Also air resistance and friction will reduce the rate at which the ball moves. The law of conservation of energy also plays a major role in sports. In football if you kick a ball you are transferring kinetic energy from your foot to the ball. From the pendulum balls by the side you can see how energy transfer works. If you lift the ball at left then energy will be passed on to the neighbouring ball and as a result the ball at the end will move the same distance from which it was released on the other side. Similarly in this diagram the character kicks the ball transferring kinetic energy from his foot to the ball. The ball moves and rises and therefore the kinetic energy will be converted into gravitational potential energy. Speed is another factor that is based on physics. In any sports using the force applied, time and the mass you can work out the final/initial velocity assuming that initial/final velocity is zero. Alternatively you can work out speed if you are given the time taken and distance it travels. How technological development has made the data collected more valid and reliable than with traditional methods of studying mechanics. Technology has developed at a staggering rate over the recent years. This allowed us to measure data much more accurately, as humans can make errors in timing due to reaction time both at start and end. Also the development of light gates allowed us to measure speed, time and acceleration. This can then be plotted on a graph and the graph can drawn/ edited in real time (as the measurements are taken the graph can be plotted and the line of best fit can be changed). Experiment for measuring Speed You can measure speed using a simple tennis ball. Set a straight horizontal track and makes sure it is straight. Measure the length of the track. You will need a timer to time the experiment. Roll the tennis ball through the measured distance and time it. Then use V=S/T (Velocity=Displacement/Time) to find out Speed at which it was travelling. Alternatively the velocity can be measure by setting a light gate near the end of the track and connecting it to a Data logger, and this will display the data on the screen, so that it is easier for you to read. You have to set up the data logger so that it measures speed also you have to choose the diameter of the ball which will pass through the light gate. Sources: Edexcel AS Physics – Ann Fullick, Patrick Fullick, Miles Hudson, Sue Howarth – Pearson (2008) page 46 & 47 http://www. soccerballworld. com/Physics. htm – Physics World magazine, June 1998 pg 25-27. http://physics-of-sport. net/basketball. html http://www. serioussoccer. net/Documents/PhysicsofSoccer. pdf.

How Does Williams Present the Themes of Illusion and Fantasy in a Streetcar Named Desire?

How does Williams present the themes of illusion and fantasy in A Streetcar Named Desire? The theme of reality vs. fantasy is one that the play centres around. Blanche dwells in illusion; fantasy is her primary means of self-defence, both against outside threats and against her own demons. Throughout the play, Blanche's dependence on illusion is contrasted with Stanley's steadfast realism, and in the end it is Stanley and his worldview that win. To survive, Stella must also resort to a kind of illusion, forcing herself to believe that Blanche's accusations against Stanley are false so that she can continue living with her husband. One of the main ways Williams dramatises fantasy’s inability to overcome reality is through an exploration of the boundary between exterior and interior. The set includes the two-room Kowalski apartment and the surrounding street. Williams’ use of a flexible set that allows the street to be seen at the same time as the interior of the home expresses the idea that the home is not a place of safety. The characters leave and enter the apartment throughout the play, often bringing with them the problems they encounter outside. For example, Blanche refuses to leave her prejudices against the working class behind her at the door. The most notable instance of this effect occurs just before Stanley rapes Blanche, when the back wall of the apartment becomes transparent to show the struggles occurring on the street, foreshadowing the violation that is about to take place in the Kowalski’s’ home. Blanche is the most fascinating character in A Streetcar Named Desire. One reason for this is that she has an absolutely brilliant way of making reality seem like fantasy, and making fantasy seem like reality. This element of Blanche's personality is what makes her character interest the audience and contribute to the excellence of the work. Returning to the beginning of the play, Blanche, shocked with the  dirtiness  and gloominess of Stella and Stanley's home in New Orleans, looks out the  window and says ‘Out there I suppose is the ghoul-haunted woodland of Weir! ‘, to which Stella replies ‘No honey, those are the L and N tracks. ‘ Blanche would assume that something so common and simple as noisy, dark railroad tracks might as well be ‘ghoul-haunted woodlands. Further evidence of Blanche's warped view of reality and fantasy is shown throughout the entire play. She seems to hint to Stella and Stanley, and therefore the audience, that she is actually much more than she seems. In scene  seven, Blanche soaks in a tub, singing: ‘Say, it's only a paper moon, sailing over a cardboard sea -But it wouldn't be make-believe If you believed in me! It's a Barnum and Bailey world, Just as phony as it can be -But it wouldn't be make-believe If you believed in me! ‘ As she sings this song, telling the story of her tendency to believe a more pleasant, warped view of reality over the actual reality, Stanley is telling Stella the horrifying truth about Blanche's scandalous past. These lyrics sum up Blanche’s approach to life. She believes that her lying is only her means of enjoying a better way of life and is therefore essentially harmless. In scene nine, Blanche is confronted by Mitch, who has learned the truth about her past. Mitch tells Blanche that he has never seen her in the light. He tears Blanche's paper lantern off of the plain, bright light bulb, and tries to see her as she really is, and not in a view warped by Blanche's efforts to make herself seem more innocent, young, and  beautiful  than she is. Blanche responds to this by saying ‘I don't want realism. I want magic!†¦ I try to give that to people. I misinterpret things to them. I don't tell truth, I tell what ought to be truth†¦ Don't turn the light on! ‘ This intense, frightening scene reveals to the audience the way Blanche views the world. Tennessee Williams' use of this kind of dual view of the world to develop Blanche's character is a perfect example of the way A Streetcar Named Desire makes the audience react to the characters in the play. The use of light and dark links to the key theme of fantasy and reality. The light is the truth, and this is what Blanche always tries to cover up. Stanley wants the truth so rips away any protection Blanche hides behind, for example the paper lantern over the naked bulb. The Streetcar light that always shines through the window, is trying to uncover the truth so Blanche ides away whenever it drives by, ‘A locomotive is heard approaching outside. She claps her hands to her ears and crouches over. ’ In conclusion, the reader of A Streetcar Named Desire is not only entertained by an interesting story when they read the play. They are also thrust into a reality which is not their own, yet somehow seems familiar. This realistic fantasy Williams creates with his brilliant use of symbolism, intriguing characters, and involving action in the play causes the reader to connect fully with the setting, characters, conflicts, and emotions within it.