The Second Amendment Of The United States - 1666 Words

Introduction The fourth amendment of the United States Bill of Rights states that â€Å"The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no Warrants shall issue, but upon probable cause, supported by Oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized.† (â€Å"Bill of Rights†). Within the text of this amendment, the word ‘unreasonable’ is one that should be observed and remembered by citizens in regards to search and seizure. A question every citizen should ask is: does the fourth amendment provide enough protection to an individual’s privacy against intrusive police search and seizure when an officer’s discretion is the sole reasoning for initiation? It has been argued that racially-biased policing largely began with the Drug Enforcement Agency’s Operation Pipeline, a 19 84 training program that instructed 25,000 state and local enforcement officers across the United States to identify and search potential drug smugglers and carriers. The training also contained a section that trained officers to consider the suspects’ race (Reid Race Issues And Stop And Search: Looking Behind The Statistics.† 168). In 2009, the United States population reached 318,857,056, with demographics divided at: 77.7% Caucasian, 13.2% African American, 17.1% Hispanic, and 5.3% Asian (State County QuickFacts). In 2009, 39.4% of the prisonShow MoreRelatedThe Second Amendment Of The United States1725 Words   |  7 Pagesâ€Å"Americans are deeply divided over the Second Amendment. Some passionately assert that the Amendment protects an individual’s right to own guns. Others, that it does no more than protect the right of states to maintain militias† (Cornell). The Second Amendment of the constitution gives citizens the right to bear arms, and is th erefore one of the most important laws of the nation. This amendment holds an important value to our nation because, it prevents tyranny but, it also protects, spreads, andRead MoreThe Second Amendment Of The United States874 Words   |  4 PagesWhen comes to the second question’s answer; the citizens of the United States take power from the Second Amendment of the Constitution to get a gun. Second Amendment of the United States that was adopted in 1791 emphasizes, â€Å"Every individual was granted the right of gun ownership and bearing gun† (Diaz, 54). For those citizens who want to buy a gun can put their constitutional rights forward so that all barriers can easily be eliminated in front of owning a gun. People may want to have a gun dueRead MoreThe Second Amendment Of The United States1367 Words   |  6 Pagesinterpreting the Second Amendment date back to the turn of the twentieth century because so many viewpoints and regulations have accumulated; it is all i n the manner of which interpretation citizens subscribe to- loose verses strict interpretation. Due to the controversies, certain gun regulations have been enacted and fears have risen because of this. In the Second Amendment of the Constitution of the United States, it states, â€Å"A well regulated militia, being necessary to the security of a free state, theRead MoreThe Second Amendment Of The United States1472 Words   |  6 PagesGun Control The Second Amendment of the constitution of the United States was adopted on December 15, 1791. â€Å"A well-regulated militia being necessary to the security of a free state, the right of the people to keep and bear arms, shall not be infringed† (Gun Control Laws). There is controversy on the exact meaning of the Second Amendment. There is also a lot of controversy surrounding guns and gun laws, and what could be done to prevent gun violence and mass shootings in our country. There has toRead MoreThe Second Amendment Of The United States2402 Words   |  10 Pages The United States of America has always been referred to as the land of the free. The United States Constitution and the Bill of Rights were put in place to ensure that the citizen’s basic rights were not violated. Even with these documents in place, certain rights have often been the center of heavy debate. The fourth amendment which protects against unreasonable searches and seizures, or the first amendment which protects free speech, or the fifth amendment which protects you from self incriminationRead MoreThe Second Amendment Of The United States1425 Words   |  6 PagesThe Second Amendment to the Constitution was adopted on December 15, 1791 protects the right for people to â€Å"keep and bear arms.† This issue is always a controversial topic not only around election time but becoming more and more a subject for conversation everywhere we go. Gun ownership in the U.S. has a tremendous high rate as well as gun violence. At least 270 million firearms are owne d by Americans and found in 47% of homes. In 2015, an estimated 13,286 people were killed by guns and 26,819Read MoreThe Second Amendment Of The United States1513 Words   |  7 PagesThe Fourth Amendment states in part â€Å"The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated†¦.† 14 United States Code 89 gives the U.S. Coast Guard authority to board, inspect, or seize any U.S. vessel on the high seas or in U.S. territorial waters. The Supreme Court has ruled not every search or seizure requires probable cause or a search warrant, however, these are the exception to the rule. The CoastRead MoreThe Second Amendment Of The United States Constitution1774 Words   |  8 Pagesfamily. It is not the duty of the federal government to dictate what a citizen chooses to legally defend themselves with. The second amendment of the United States Constitution was ratified on the 15 of December, 1791 and was drafted by future president James Madison. The text of the second amendment reads â€Å"A well regulated Militia, being necessary to the security of a free State, the right of the people to keep and bear Arms, shall not be infringed.† There has been much debate in our country regardingRead MoreThe Second Amendment : The United States And Its Citizens978 Words   |  4 Pagesbegin this essay, I will state that I believe that the second amendment is truly beneficial to making money in the U.S. economy. First, I want to cover why this amendment is important to the United States and its citizens. For example, one of my most favored actors Ice-T has proven to be a very big supporter of gun rights and an avid backer of the 2ND Amendment, and in an interview with Channel 4 TV in London, England he states that ,â€Å"Yeah, it’s legal in the United States. It s part of our ConstitutionRead MoreThe Second Amendment Of United States Constitution1350 Words   |  6 PagesIntroduction The second amendment of United States constitution said â€Å"A well-regulated militia, being necessary to the security of a free state, the right of the people to keep and bear arms, shall not be infringed†. This amendment was embraced on December 15, 1791, taking in consideration that American citizens have a natural right to self-defense and they can help to accomplish the following purposes: Permitting the people to organize a militia system Contributing in law enforcement Deterring

Essay on Outside Influences on Dante’s Inferno - 832 Words

Anyone who has read Dante’s Inferno is familiar with a certain main character, Virgil. Who is this Virgil that Dante put in his book and where did Dante get the idea of having Virgil as his guide on Dante’s journey through the spirit world? In addition to Virgil, readers of Inferno are also familiar with concepts and characters such as God, angles, demons, Satan, and Hell. Where did Dante get these concepts? Dante did not come up with these ideas on his own, but used familiar characters and places from outside sources such as the Aeneid and the Bible to create his epic poem. One important source that Dante used was Virgil’s Aeneid. According to Peter S. Hawkins, Dante cited Virgil 192 times in his writings (Hawkins 125). Dante†¦show more content†¦Dante’s and Aeneas’s journeys through Hell were epic journeys with some similarities. In the Aeneid, Virgil sends the protagonist, Aeneas, on a journey through Hell in which a sibyl, an ancient pr ophetess, guides the way. (Virgil 169-192). Dante uses this same literary technique by having Vigil guide him through Hell in his own epic poem. In addition to the Aeneid, another major source which Dante used was the Bible. In fact Date cited the Bible more than any other source. Peter S. Hawkins claims that Dante has 575 citations from the Bible in his works (Hawkins 125). When Dante was writing Inferno and coming up with the ideas of the circles and what sins and sinners he was going to assign to them, he looked at the Bible for a reference. For example, in Canto I line 2 of Inferno, Dante finds himself walking in a dark wood. Dante could have looked at Psalm 23 verse 4 for his idea of the â€Å"dark wood.† â€Å"Even though I walk through the darkest valley, I fear no evil; for you are with me; your rod and your staff they comfort me† (Ps. 23.4). In Canto I line 3 Dante said, â€Å"I had strayed from the straight pathway†¦Ã¢â‚¬  (Alighieri 3). He could have used many passages from the Bible to construct this idea. Some examples of this idea are found in Job 19:8; 24:13, Proverbs 2:13, Matthew 3:3, Mar k 1:3, Luke 3:4 and others such as Ps.27:11 which says, â€Å"Teach me your way, O Lord, and lead me on a level path because ofShow MoreRelatedThe Oxford Dictionary gives five different definitions of the meaning of â€Å"politics.† One definition1200 Words   |  5 Pagespeople write and think about life. Politics has been a major influence on literary works, such as Dante’s Inferno, Don Quixote, and Corinne, Or Italy, and in these works you get the chance to understand the political beliefs from the author’s point of view instead of from another character in the novel. Dante’s Inferno, although seemingly a religious epic poem, actually has many political undertones. The basis of his political influences start with his personal connection with the commercial worldRead MoreAnalysis Of Joseph Conrad s Heart Of Darkness1164 Words   |  5 Pagesamongst the colors and entangled description in Heart of Darkness shows how backwards civilization is through the need to enlighten or civilize the natives is flamboyantly flaunted in both the movie and book. Ultimately, both portray an allusion to Dante’s inferno and through comparing and contrasting the symbolisms and imagery effectively personify the dangers and recklessness of the ensembles in the Eldorado Exploring Expedition, from Heart of Darkness, and Captain Willard’s mission to kill Kurtz in ApocalypseRead MoreWho Has More Power : The Pope Or A King?1657 Words   |  7 Pagesseen as corrupt by numerous Europeans. Dante Alghieri, through his book The Inferno, establishes his negat ive opinion by his portrayal of Popes. Machiavelli does the same in The Prince, often pointing out the shortcomings of Popes. At the time, Popes portrayed themselves as leaders of political and spiritual issues throughout Christian Europe and this reputation was solidified through the description of Popes in The Inferno and The Prince. After the fall of the Roman Empire, the Pope was the highestRead MoreComparing Dante And Aquinas On Happiness1377 Words   |  6 Pagescompared to happiness in Heaven, following of Aristotle virtues was not a problem to them but it could not help in trying moments, and lastly the importance of perfecting the art of love especially to people One of the major themes which Dante inferno raises is the nature of the virtues. Like the spirits of hell, the spirits that are encountered by Dante have all sinned. The spirits out there were punished because of breaking virtues which were performed by God. Virgil gives Canto X1 a candleRead MorePhysical Theatre Performance Analysation2595 Words   |  11 Pagesexperience than traditional theatre† ~ (Artmedia Publishing in Zen Zen Zo’s â€Å"The Tempest† Teacher’s Notes) â€Å"†¦Then you realise that theatre is a more personal experience.† (Stephen Atkins, Dante’s Inferno Director) After viewing Zen Zen Zo’s physical theatre reincarnation of the philosophical poem, Inferno by Dante Alighieri , it was clear that the combinations of various dramatic languages ultimately enhanced both the mood and symbolism of this live performance. These dramatic languages includeRead More Comparing the Struggle in Dante’s Inferno and Book VI of The Aeneid4312 Words   |  18 PagesInfernal Struggle in Dante’s Inferno and Book VI of The Aeneid Does hell have its own history? For Dante, the structural and thematic history of ‘hell’ in the Inferno begins with the Roman epic tradition and its champion poet, Virgil. By drawing heavily from the characteristics of hell in Book VI of The Aeneid, Dante carries the epic tradition into the medieval world and affirms his indebtedness to Virgil’s poetry. Moreover, Virgil becomes a central character in the Inferno as he guides DanteRead MoreThe Allegory Of The Cave Proposed By Plato1595 Words   |  7 Pageshis own proper place, and not in another and he will contemplate him as he is† (Plato 1198). The cave is a dark place, inside it, light is barely visible and it keeps chained people who can hardly move. At the same time, there is a different world outside the cave, but separated by a wall. The wall symbolizes the boundaries between our thinking and the reality while the shadows represent the sensorial perception, which Plato considers as an illusion. According to him the physical appearance is falseRead MorePolitical and Religious Motivations in Dante Alighieri’s Divine Comedia 3036 Words   |  12 Pageswith the world. It is important, then, to consider the following question: to what extent is Dante’s Inferno a politically motivated text rather than a religious one? Alighieri’s epic, particularly Inferno, is not solely a religious text, as it has been thought of by so many for so many years, but rather is an allegorical political text. This can be seen most clearly in the first three cantos of the Inferno, though it is also present in the rest of the poem. The first three cantos will be the mostRead MoreFamous Authors778 Words   |  4 Pages1290, he withdrew into intense study and began composing poems dedicated to her memory. One of his most famous works is the La Divina Commedia (The Divine Comedy). The Divine Comedy is separated into three parts: Inferno (Hell), Purgatorio(Purgatory), and Paradiso(Paradise). Dantes Inferno is one of the most detailed descriptions of Hell in writing. After surviving all nine circles of Hell, Dante and his guide, Virgil, set off in pursuit of Purgatory. They make it through each layer of Purgatory andRead MoreParadaise Lost by John Milton and The Divine Comedy by Dante Alighierie1821 Words   |  8 PagesINTRODUCTION It has been commonly accepted that John Milton is acquainted with Dante Alighieri who has a great influence on Milton’s epic Paradise Lost. The significance of The Divine Comedy for Milton lies especially in Dante’s Inferno and Purgatorio. Scholars1 have quoted plentiful echoes of Dante throughout Milton’s works, and have compared these two great poets for centuries. In the 19th century Mary Shelley employed a cluster of images and ideas from Milton’s Paradise Lost (especially from Book

Economies Of Scale - Imperfect Competition And International Trade

Question: Discuss about the Economies of Scale, Imperfect Competition and International Trade. Answer: Introduction It can be evident that market structure and economies of scale have considerable impacts on the pattern of trade and comparative advantage of a nation. There are several assumptions of perfect competition used by the classicist to determine the elements of international trade theory. The study presents a relation between economies of scale and imperfect competition with international trade (Dakhlia and Temimi, 2016). Recently, different theories have been presented by various authors that deal with the economies of scale and imperfect competition to present a general equilibrium framework that modifies the modern theory of international trade (Winters and Wells, 2012). Some authors concentrate of existence of gains and equilibrium from trade in the imperfect competition model, whereas some focuses on differentiation of product as the key to success. It has been believed that differentiation leads to gains from intra-industry trade. Considering the concept of intra-industry trade, it can be seen that maximum benefits are derived from trade between similar countries (Findlay, 2014). Hence, the study has been developed to conduct a theoretical analyse and establish a relationship between economies of scale and imperfect competition with intra-industry trade. Furthermore, the study emphasises on expansion and application of the theories in real world to get benefited from international trade. Hence, the purpose of the study is to present a literature review and explain the theories to understand their importance in international businesses to seek growth over the global platform. External and internal economies of scale Economies of scale present the comparative advantage that can be sought by production of such commodities in which the country has better specialisation (Fujita, 2008). Hence, Economies of scale can be termed as the advantages that a company or nation seeks through large scale production. The economies of scale has been categorised into two segments. One is known as internal economies of scale and the other is known as external economies of scale. Figure: Economies of Scale Source: (Jensen and Wong, 2007) The two different concepts of economies of scale or benefits of mass scale production have been discussed herein below: Internal economies of scale The internal economies of scale occurred due to expansion of business and increase in production. It leads to decrease in the production costs that provide the company with a competitive edge (Krugman, 2010). Internal economies of scale occur within the firm due to its expansion of business. The internal economies of scale can be categorised into real economies of scale and pecuniary economies of scale that are discussed herein below: Real economies of scale The real economies of scale are presented herein below Technical economies: Large firm enjoys higher efficiency in terms of technology from machinery and capital goods. Marketing economies: Large amount of money can be spent on marketing activities, yet per unit cost of marketing remain low. Labour economies: Large scale production provides labour economies because per unit labour cost reduces. Managerial economies: It leads to reduction in the per unit managerial cost due to large scale production. Economies of transport and storage: Large firm enjoys economies of transport and storage with higher level of productivity. Pecuniary economies The pecuniary economies of scale are presented herein below: Large firms can buy raw materials at a lower price due to special discounts offered by the suppliers Large firms are offered with easy loans from banks at lower interest rates. Large firms seek concessional transport facilities due to bulk amount of goods. Large scale firms enjoy low cost of advertising due to bulk production. External economies of scale External economies are the benefits that are accrued by the firms due to large scale operations in a particular industry. The external benefits are shared by a number of firms operating in a particular industry. The external economies are presented herein below: Economies of concentration: The large firms enjoy the benefits of communication and transport, research and invention and raw materials availability with increase in number of firms in an industry (Lo and Fann, 2010). Economies of information: The increase in number of firms makes the industry mutually dependent. It leads to easy flow of information from one firm to another for mutual benefit. Economies of disintegration: With development of industry, every firm specialises in production of particular products. Hence, mutual understanding leads to economies of scale large production (Melvin, 2009). Importance of economies of scale The importances of economies of scale are presented herein below: Nature of Industry: It helps to determine the nature of industry. For example, constant cost industry, increasing cost industry and decreasing cost industry (Mai and Hwang, 2007). Analysis of cost of production: It helps to analyse the cost of production by judging the benefits of large scale production. Imperfect competition and trade The monopolistic competition model The assumption of perfect competition has been overtaken by monopolistic competition model that presents an imperfect competitive situation in international trade. The monopolistic competition model can be derived by the presence of many small businesses that operate with their own policies and strategies. In a monopolistic competitive market every organisation makes it own decision regards to the products, output and pricing. The entrepreneurs play primary role in the market because of high risk involved in decision making. Furthermore, there is no barrier to enter or exit the market. Along with that, the differentiation strategy is not limited to product, but the entrepreneurs can implement differentiation of marketing strategy, human capital and distribution techniques. According to this model, the firms are the price makers due to immense rate of competition in the market. Hence, it can be seen that the firms make a huge supernormal profits in the short run that decreases in the long run due to adoption policy and entry of new competitors. The intra-industry trade The intra-industry trade has been often identified as one of the favouring practical elements in substantial trade theories. By considering the imperfect trade competitions across the global trade industry, organisations have seemed to secure significant returns on investment in compared to perfect competition scenario. In case of intra-industry trade analysis, significant rudiments of Ricardian trade theory can be applied within the Heckscher-Ohlin framework (Davis, 2015). Through the identification of the benefits of intra-industry trade, the paper has been described to evaluate the competitive advantage of such trade. Meanwhile, the traditional theories of proportional advantage have been taken into consideration to identify the contrast scenario of the scale economies model (Bergstrand, 2010). Through the understanding of scale economies perspective, intra-industry trade can provide return to scale in an efficient way. In the contemporary business scenario, scale economies have i nfluenced the rise of intra-industry trade though the relation between substitutes for scale economies and intra-industry trade has shown negative impact (Aquino, 2011). Meanwhile the return of scale economies has been identified one of the most successful element to select intra-industry trade contributing to the maximum profitability of the global business enterprises. Arguably, the introduction of intra-industry trade has improvised business specialisation so that contemporary businesses can increase imperfect competition for further benefits and profitability. Moreover, the intra-industry trade pattern has got significant wide spread acceptance to understand the role of the theories on comparative advantage (Greenaway and Milner, 2011). According to the Ricardian model, economies of scale have been neglected in the large trade flows promoting sustainability. Measurement of intra-industry Grubel and Lloyd present the method to measure Intra-Industry trade of a nation. The measurement of intra-industry trade is known as Grubel-Lloyd index (Chipman, 2010). A formula has been presented below to measure the intra-industry trade of a country. The measurement of intra-industry trade is required to understand the opportunities of trade in an international market. It is important to note that every nation is not specialised in production of all commodities. Hence, every nation export particular commodities to other nations in which it have comparative disadvantage. On the other hand, it exports those products in which it has comparative advantage. Hence, the measurement of Grubel-Lloyd index helps in observing the trade opportunities in different countries to plan the internationalisation strategies to enter those markets. External economies and international trade External economies of scale have held the key to success at the industry level to set remarkable trade standards. By considering the international trade theory, external economies of scales have derived significant factors to support international trade. Meanwhile, whenever economies of scale have been applied at the industry level rather than m enterprise level, it can be identified as external economies. Moreover, in larger business perspective, external economies have been utilised to influence the international trade prospects in countries such as the United States of America, China and other major countries (Suga, 2007). On critical thinking perspective, external economies of an international market must be identified following thorough research so before affirmative decision-making on international trade policy. Through the identification of sustainable external economies of scale attached to a target market can improve the trade relations between two countries (de Groot and Na huis, 2012). Furthermore, as the expansion of trade can be materialised in the target market, the output of the industry will be automatically enhanced due to the present of affordable external economies of scale. Moreover, the international trade and external economies have been significantly benefitted through the implementation of theoretical concepts attached to the scenario of external economies of scale (Ohlin, 2007). The connection point of business and trade perspectives can create new dimensions to be opened up for further trading perspective at the international platform (Sullivan, 2013). Understandably, the external economies can increase the productivity of the industry. As the output of the industry will increase, the costs of the external economies and available market patterns will experience an upward lift. Meanwhile, a discussion on comparative advantage can be evident to explain the trade patterns. As external economies have influenced comparative advantage in the market, a pattern related to industry specialisation can be identified on a historical contingency (Milner, 2008). As the external economies have picked up robust growth model in a relevant industry, the initial advantages will dried up. Therefore, the advantages of the primary stages will be locked in. In such circumstances, the external economies will be no longer relevant to the industry as functionality of the same will be reduced. Evidently, selection of the right country will be manifest for international trade reviewing the external economies for long-run success at the international level (Ta ngkittipaporn and Songkroh, 2009). Extension and applications New theories have been developed by economist in respect to economies of scale. It includes the horizontal and vertical integration of economies of scale (Brakman and Heijdra, 2014). Horizontal perspective presents the quality developed, whereas vertical perspective presents other benefits of intra-industry trade. Furthermore, new approaches of international trade model have been developed by Dixit and Stiglitz, which is known as the new trade theory (Brakman and Heijdra, 2014). Along with that, the Core-Periphery Model has been developed to analyse the concentration and specialisation of particular economy. Hence, these extensions of theoretical models can be applied in the real world scenario to develop international trade patterns relevant for significant economies. Conclusion The dynamic scenario of economies of scale has significantly contributed towards successful management of trade perspective. Identically, the internal and external economies of scale have influenced the international trade at the highest business level. By providing effective changes in international trade procedure, countries with similar types of economies of scale can create sustainable long-run trade relationship. On the other hand, on basis on intuitive views, equal productivity, factor endowments and other significant concepts must be identified through the identification of economies of scales. Moreover, because of the presence of economies of scale, significant international trade concepts can be determined. In this way, international trade can be made possible in the two different countries having different types of economic standards. Moreover, the fundamental objective of return has been fulfilled by utilising both the internal and external economies of scale. Through the identification of classical models such as Ricardian Model and Heckscher-Ohlin Model (H-O Model), comparative advantage and business gains in international trade can be achieved. Furthermore, the specialised goods and intensives services must be endowed according to the factors influencing the business prospects at the global platform. Conclusively, the contribution of economies of scale in international trade can identify the most effective cost structures and sustainable business framework applicable for maximum profitability. References Aquino, A. (2011). The measurement of intra-industry trade when overall trade is imbalanced.Weltwirtschaftliches Archiv, 117(4), pp.763-766. Bergstrand, J. (2010). The Heckscher-Ohlin-Samuelson Model, The Linder Hypothesis and the Determinants of Bilateral Intra-Industry Trade.The Economic Journal, 100(403), p.1216. Brakman, S. and Heijdra, B. (2014).The monopolistic competition revolution in retrospect. Cambridge, UK: Cambridge University Press. Chipman, J. (2010). External Economies of Scale and Competitive Equilibrium.The Quarterly Journal of Economics, 84(3), p.347. Dakhlia, S. and Temimi, A. (2016). An Extension of the Trade Restrictiveness Index to Large Economies.Rev International Economics, 14(4), pp.678-682. Davis, D. (2015). Intra-industry trade: A Heckscher-Ohlin-Ricardo approach.Journal of International Economics, 39(3-4), pp.201-226. de Groot, H. and Nahuis, R. (2012). Optimal Product Variety and Economic Growth: The Trade-off between Internal and External Economies of Scale.Journal of Economics, 76(1), pp.1-32. Findlay, R. (2014). International economics.Journal of International Economics, 4(3), pp.318-319. Fujita, M. (2008). A monopolistic competition model of spatial agglomeration.Regional Science and Urban Economics, 18(1), pp.87-124. Greenaway, D. and Milner, C. (2011). Trade imbalance effects in the measurement of intra-industry trade.Weltwirtschaftliches Archiv, 117(4), pp.756-762. Jensen, B. and Wong, K. (2007).Dynamics, economic growth, and international trade. Ann Arbor: University of Michigan Press. Krugman, P. (2010).Rethinking international trade. Cambridge, Mass.: MIT Press. Lo, C. and Fann, G. (2010). Globalisation strategy: foreign direct investment or international outsourcing trade?.International Journal of Management and Enterprise Development, 9(2), p.147. Mai, C. and Hwang, H. (2007). External Economies of Scale and Optimal Plant Location.Pacific Economic Rev, 2(2), pp.115-124. Melvin, J. (2009). Trade in Producer Services: A Heckscher-Ohlin Approach.Journal of Political Economy, 97(5), pp.1180-1196. Milner, C. (2008). Weighting considerations in the measurement and modelling of intra-industry trade.Applied Economics, 20(3), pp.295-301. Ohlin, B. (2007).Interregional and international trade. Cambridge, Mass.: Harvard University Press. Sivagama, S., Vadhiyar, S. and Nanjundiah, R. (2009). Dynamic Component Extension: a Strategy for Performance Improvement in Multicomponent Applications.International Journal of High Performance Computing Applications, 23(1), pp.84-98. Suga, N. (2007). A monopolistic-competition model of international trade with external economies of scale.The North American Journal of Economics and Finance, 18(1), pp.77-91. Sullivan, A. (2013). A general equilibrium model with external scale economies in production.Journal of Urban Economics, 13(2), pp.235-255. Tangkittipaporn, J. and Songkroh, M. (2009). International trade management competencies.International Journal of Management and Enterprise Development, 6(1), p.136. Winters, L. and Wells, S. (2012).International economics. London: Routledge.

Wealth management Essay Example

Wealth management Essay The business expansion strategy is to make advantages of their strength in intermediary businesses, such as international business settlement, agency and wealth management, then drive the development of traditional commercial banking services, so that they can attract more premier foreign and local customers. Compared with Chinas banks, foreign banks dont have a branch network around the country, but they have stronger capabilities in products innovation, more professional expertise of international financial market trading and wealth management, etc, also they have a huge branch network around the world. Therefore, foreign banks firstly focus on international business settlement, foreign exchange trading. By providing those extra services that Chinas banks can not make, foreign banks can attract those premier customers that have oversea businesses and strong need for wealth management, then these customers may transfer their other businesses that are currently based at local banks, including RMB settlement, deposits and loans, etc, to foreign banks. The customer expansion strategy of foreign banks is to approach multinationals, joint ventures, foreign funded enterprises and Chinas leading domestic firms. Multinationals, joint ventures and foreign funded enterprises are first targets of foreign banks, not only because those firms have good business performance and credit records, but also their mother companies usually have strong link with those foreign banks. Foreign banks are also keen on Chinas leading firms, including those national teams that have strong oversea businesses, mighty private companies and premier high-tech firms. Obviously, foreign banks would not take risk to expand their business to all corporate customers. We will write a custom essay sample on Wealth management specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Wealth management specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Wealth management specifically for you FOR ONLY $16.38 $13.9/page Hire Writer In a press conference held by Citibank in 2002, Mr. Huang Xiaoguang, the CEO of its Shanghai Branch stated, we merely focus on three categories of firms, including foreign global giants, Chinas big global firms and those domestic companies with strong international business, in which we can make full use of our global network advantage. We wont break through this customer territory and to do business with other general firms even after Chinas financial market is open completely after 2006. Current status of foreign banks businesses in China A recent survey conducted by FCSSIC (Financial Center of Social Science Institute of China) showed most of foreign banks had successfully extended their businesses in China, though their performance was very different from one another. Overall, the following characters can reflect the current status of foreign banks businesses in China by now: Firstly, the activity domain of foreign banks mainly concentrated in coastal cities. By the end of 2002, there are about 190 foreign banks have conducted their businesses in China. In particular, about 27 among 54 world top banks that are listed in the US Fortune world 500 have also operated in the country. It is obvious that most foreign banks are still keen on coastal cities, such as Shanghai, Nanjing, Guangzhou, Shenzhen, Tianjin, Dalian, etc, while many inland cities, excluding several top cities, such as Wuhan, Chongqing, Xian, their presence was rarely seen though these cities were on the governments opening outside list as well. Secondly, the business categories are extending quickly from foreign currency businesses to RMB businesses. In 1982, China government began to permit foreign banks to set up operating offices and conduct foreign currency businesses, their foreign money businesses have developed a lot ever since then. Currently, the main foreign exchange businesses of foreign banks covers financing business, loan and savings, international business settlement, investment, guarantee, business bills and consulting, etc. Then in 2002, some foreign banks were permitted to provide RMB business service to foreign customers in Shanhai, Shenzhen and Gaungzhou, and in fact, they extended this business to many foreign customers very quickly. Their customers were not only from those mentioned cities, but also from their neighbor provinces, such as Zhejiang, Jiangsu, Hunan and Guangxi. This fact witnessed that foreign banks have strong capability to expand their business. In February 2003, several top global giants, such as HSBC and Citibank, announced their grants of RMB businesses for Chinas domestic firms. Thirdly, the customers focus of foreign banks is mainly on first class joint ventures, multinationals, and Chinas big foreign-oriented firms, together with some public companies. Taking several top banks, for example, HSBC is keen on serving BP, Shell, Citibank focuses on GE, IBM, Software and Ford. The global banks are also very interested in such Chinas big state firms with oversea business, such as CNPC, Sinopech and COSCO. According to Chinas governments commitment, foreign banks are able to provide foreign exchange businesses for both domestic firms and residents early from Chinas WTO entrance, but the restrictions of areas and customers in RMB businesses will not be canceled until the end of 2006, therefore, the current competitions between Chinas banks and their global rivals are mainly reflected in foreign exchange businesses, especially concentrating on international business settlement and foreign exchange loan and savings, and the competing level is different in different cities. As the most advanced and international city in China, Shanghai sees most presence of foreign banks in this country, and the competition here is also most fierce. By the end 2002, there have been 53 operating foreign banks branches. 12 among which, including HSBC and Citibank, getting the permission of conducting comprehensive foreign currency businesses in the same year, covering both corporate banking and personal banking, local firms and local residents. A recent statistic provided by Shanghai Branch of Peoples Bank of China, showed that the growth rate of foreign currency savings of foreign banks had surpassed that of domestic banks in Shanghai in early 2002. Furthermore, some foreign banks in Shanghai have extended their businesses to the nearby provinces, including Zhejiang and Jiangsu, the most powerful economies of China. In the end of 2003, the total assets of foreign banks in Shanghai were about $27. 49 b, increasing by 35. 69% compared with a year ago. Total amount of loans were up to $12. 1b, growing by 15. 16% compared with 2002. Total savings was $7. 14b, growing at 56. 53%. In the same year, operating profit before tax of all foreign banks was $107m, in which the contribution of RMB business exceeded 50%, reflecting rapid growth of their RMB business. With the expansion of business and customers, foreign banks achieved great performance. In 2003, their market share in Shanghai banking sector in terms of total assets, savings and loans was 11. 84%, 3. 86% and 8. 64% respectively, much higher than a year ago. Shenzhen, as the symbol of Chinas opening to the outside world, owns the second largest scale of foreign banks in terms of both foreign currency assets and savings. Ever since the foundation of Shenzhen Branch of Hongkong Southsea Bank, the first foreign bank in the city, the amount of foreign banks has been growing. Up to early 2004, there were 25 foreign banks that have operating branches, together with 7 representative offices. The total staff of foreign banks are about 830, occupying 2. 6% of whole staff of Shenzhen banking sector. It was stated by Shenzhen Bureau of Banking Regulation, in the end of 2003, the total assets of foreign banks in Shenzhen were $7. 32b, total savings was $2. 33b. Thereinto, the absolute amount of savings enhanced by $0. 84b, with a growth rate of 55. 99% compared with last year. As a traditional financial center of North China, many eyes of foreign banks have turned to the city for years. By the end of 2002, there were about 14 foreign banks got presence in Tianjin, and 4 of which was authorized to conduct RMB business. Foreign banks firstly extended their international settlement business very quickly. In the end of 2002, market share of big four state banks in total foreign exchange assets was 82%, while foreign banks gained 0ver 10%. In terms of foreign currency loans, big four banks occupied 67%, compared with foreign banks 33%, which reflects Chinas domestic banks face heavy stress from foreign banks to compete in foreign exchange businesses.