Trade Diversion and Trade Creation Essay Example | Topics and Well Written Essays - 1750 words

Trade Diversion and Trade Creation - Essay Example The concept of trade creation and the trade diversion is based on the cost of production and the value of the outcomes among countries or regions. Trade creation arises because of trade deals that occur between different countries that are involved in a spending shift by the domestic consumers. The agreement aims at moving local consumer expenditure from higher cost source domestic spending to a lower cost source partner spending (El-Agraa and El-Agraa, 2007). To clarify the concept of trade diversion, take an example of two countries within the EU that have signed a trading agreement. Taking in country A and country B. Country A households can switch their spending on insurance and cars supplied by its domestic suppliers at a higher cost to those provided by country B suppliers at a lower cost operating in the same market. The primary essence of trade creation is to encourage an upsurge in trade among countries that enter an agreement by signing the trade accord (Laine, 2011). The trade creation also leads to an efficient allocation of limited resources and raises gain in user and manufacturer welfare. Below is a diagram showing both the domestic supply and the internal demand for trade creation in the European Countries. The diagram demonstrates that access to cheaper supplies allows a lower price, which benefits the final consumer. The diagram also shows that a reduction in price that leads to an expansion in demand thus an increase in consumer surplus. The incurred surplus further leads to a net improvement in the country’s economic welfare. On the other hand, trade diversion is best defined as a change in local customer speeding from a zone of lower cost source to an area of higher partner cost source. It occurs because of the removal of tariffs on the imports acquired from the other partner countries. Trade diversion is commonly based on the existing tariffs on the external imports of the goods and services.

Science Meets Real Life Essay Example | Topics and Well Written Essays - 1750 words

Science Meets Real Life - Essay Example By using the precepts of the scientific methods, it follows that critical thinking in essence is employed. This is not limited to the study of science but to all other disciplines which delves on sought-after solutions to problems. Through the testing and answering of personal questions which leads to plausible answers scientific thinking is used. This is in essence thinking correctly and coming up with reliable answers in most aspects in life. The process of scientific thinking and critical thinking is one and the same in practice and theory. It may only be within the grounds of who uses what wherein the difference lies but both are used by human beings regularly (Schafersman, 1997). Upon arriving at home and finding out that the light would not turn on begins the process of scientific inquiry. Faced with the recognition of a change within the surroundings of the house, the initial progression within the method was conceived, the acknowledgement of a problem. Simple logic suggests that one should exhaust efforts to locate and solve the problem. The mature thing to do is to remedy the dilemma sensibly and not be infantile about the situation. When a problem arises, it only becomes aggravated when not dealt with the utmost perception of common reason. In this case the problem encompasses a number of things. The fact that the lights would not turn on is the main problem. Second, it is already well within the night and I would be hesitant about calling a handyman for reasons that include, one, I would assume it is already past their working schedule and two, I have some confidence I may be able to solve the problem myself. Another problem that comes with it is that the problem is located in part of the house which is dark and would therefore be a further complication on the matter at hand. On this stage the most conceivable thing to do is to go back in memory and think of the most relevant details

Symbolism of Moby Dick based on outline provided Essay

Symbolism of Moby Dick based on outline provided - Essay Example With the White Whale being alluded to the greatness of Christianity --- Ahab being part of this whale --- this could be representational of the concept of the white Christian civilization utilizing slavery as a means toward global success. Captain Ahab is at the helm of Pequod setting sail with a crew coming from different races. Their purpose is to hunt the White Whale with no regard to people who might change this itinerary (Robertson-Lorant 385). Notice that the crew consists of a New England voyager named Ishmael, a South Pacific islander named Queequeg --- who comes from a place that is not seen on maps, and a possible freeman or slave cabin boy named Pip (Pettey 43). Hints about the Indian wars are seen in Melville’s work. First, Pequod is named after the exterminated tribes in 1637. Harpooners in the Pequod consists of â€Å"Aboriginal whalemen† and â€Å"unmixed Indian from Gay Head...where there still exists the last remnant of a village of red men† (Pet tey 47-8). It can be said that Moby Dick has the Indian genocide and the exploitation of workers as two of the major themes in Melville’s work. Works Cited Pettey, H B. "Cannibalism, Slavery, and Self-Consumption in Moby-Dick." The Arizona Quarterly. 59 (2003): 31-58. Print. Robertson-Lorant, Laurie. "Red Blood, White Bones: the Native American Presence in Moby- Dick." Comparative American Studies.

Motor Skills (MOVIE) Essay Example | Topics and Well Written Essays - 500 words

Motor Skills (MOVIE) - Essay Example All players were at an early stage of learning that the coach believed required a type of challenge that surpasses other challenges the players dealt with outside training such as racial discrimination. A challenge from Coach Boone during training assuredly taught his team to apply the attitude of â€Å"fight[ing] together† in all challenging situations (Yakin, 2000). Motivation in Remember the Titans came from the coach, immediate surroundings, and during the advanced phases of learning. A fundamental principle of kinesiology is encouraging advanced staged learners to pursue their interests at all costs, which is applicable in sports. Motivation in Remember the Titans influences the performance of the student athletes positively. More specifically, Coach Boone compelled the high school learners to unite for a common cause despite racial differences (Yakin, 2000). Industriousness and patience are values that make up the motivation principle necessary for accomplishing ultimate motor control. Repetitive practice is Coach Boone’s main instrument for assuring motor control within the team ahead of all games. Coach Boone makes sure his team’s quarterback acquire the necessary game-like motor control as he puts him through many practices that enable him to perform and maintain the ability to implement these motor skills. A quarterback is not prosperous without these three primary aspects. Coach Boone instills these aspects in all players and not the quarterback only by emphasizing the interaction of all team players to discover their backgrounds before practice (Yakin, 2000). The film centers on the training of a group of talented football players through the enhancement of their physical abilities, maneuvering skills, opponent analysis, and existing knowledge about the sport and its history. To do this, Coach Boone believes he ought to

Public sector management Assignment Example | Topics and Well Written Essays - 2000 words

Public sector management - Assignment Example The contributing factors for the rise in poverty are a lack of education, social participation, housing, health and access to the given services. These issues faced by the poor make them vulnerable to the crime along with the civil conflicts such as violence which cannot be restricted by the formal justice system (Government of Yukon, 2012). These issues of the society give rise to the need of poverty reduction policies which would help to ensure the better safety, security along with justice. With respect to the social justice and poverty reduction periphery, it can be stated that â€Å"People cannot be developed; they can only develop themselves† (Voipio, 2006). This implies that the poverty reduction is possible with the contribution of the people of the society and their positive attitudes of treating every individual equally. Moreover, the presence of social protection is of significance to reduce the level of poverty and improve wellbeing of the society by protecting peo ple from deprivation in order to lead decent life by reducing poverty (Garcia & Gruat, 2003). The aim of the study is to draft a plan to resolve a policy problem namely the issue of poverty reduction and social justice. Exploring the issues, challenges faced along with recommending strategies to mitigate the issues for better up gradation of the society will form the core of the discussion. One of the vital moral, social and political issues faced by the world is poverty at a large scale. Poverty causes various issues and hampers the economic condition of the country to a certain extent. This requires a reform and hence the countries are trying hard to reduce the level of poverty and improve social justice. According to the World Bank Group (2004), it is reflected that development agencies such as the Non-Governmental Organisations (NGOs) have the conviction to enhance the living condition of the poor and create a

Cameron International Corp Essay Example for Free

Cameron International Corp Essay The three major issues facing Cameron International (CAM) are acquisitions, environmental, and competition risk. Cameron International is primarily involved in the manufacture of petroleum production equipment, compression and power equipment to direct flows of oil and gas wells. Acquisitions The company is formerly known as Cooper Cameron Corporation. The company growth depends on the availability of natural resources. To be able to be competitive in the industry, it needs to analyze the existing processes and identify the best production method for harnessing oil and gas, and adjusting it manufacturing operations towards the identified need. The Company made significant investments in improving its services and products over the years. During 2004 to 2005, the company has acquired Petreco International and Dresser Flow Control Businesses. Also, â€Å"Recently CAM paid approximately $44 million to acquire DES Operations Limited, a Scotland-based supplier of production-enhancement technology, which will enhance the subsea operations within the Drilling and Production Systems segment† (value line). Subsea operations is the new direction to which the company is heading. In fact, the company is currently working on more than 15 major subsea projects using motors and other equipment made by an aerospace-industry contractor (Factiva Wall Street Journal). These projects will require a longer time, a large increase in financial scope, a need in substantial engineering, and it will also involve the application of existing technology to new environments or new technology (CAM 10K 2006 p. 7). Because this new operations are larger and more complex than traditional operations, the Company may not be prepared for meeting the expertise and technical requirements of the projects. Failure to meet client’s expectations does not only lead to loss in revenue, but also to loss of the significant financial investments committed by the company towards this innovation. The company has had both success and failures in this new endeavor. Subsea operations account for eight percent (8%) of the company’s revenue in 2006 (CAM 10K 2006 p. 7). According to Fortune magazine, the company has raised earnings by producing an array of subsea valves, wellheads and blowout protectors which are currently on high demand. The result is expected to make Camerons profits to climb thirty-nine percent (39%) this year. On the other hand the company experienced backlogs on the projects, amounting to as much as four hundred eight million dollars ($408 millions). Based on these figures, it is clear that the new operations of the Company can be lucrative and risky. As mentioned above, the new operations involve the following risks: not meeting client’s expectations, incurring delay, loss of revenue, loss of opportunity and loss of capital. Environmental Litigation The Company has a strong policy on environment sustainability and has implemented measures to ensure the quality, safety and reliability of its products. It utilizes an all electric sub-sea production system which is designed to reduce environmental contamination risks. It line of compression products offer greater efficiency and reduced emission levels. (Annual report 2006 p. 9) The company has conducted oil risk spills analysis through the OSRA models originally developed by Smith and company, which has been enhanced over the years and uses realistic data fields of winds and ocean currents in the GOM (OCS Report 2007). However, it may be noted that with Cameron’s policy to pursue an electric sub-sea production system, the risk of oil spills is reduced and the likelihood of it being involved in a major oil spill is reduced. In addition to this, the company has exerted efforts towards managing environmental risks involved in subsea operations by contributing in the development of a shut-off device called Environmental Safe Guard. This device has been proven successful in operation under 2000-m water (Simondin, et. al. 2005). Competition Risk Cameron International has maintained a track of growth in the oil industry, from 1833 up to the present. It currently manufactures 50 different brands of drilling and production systems. Growth can be expected to continue. As pointed out in the Company’s annual report (2006), sales of equipment like compression systems has registered a steady increase with the greatest share of revenues accruing from sales outside the United States. The Company has maintained an excellent revenue growth rate at thirty-nine point sixty-seven percent (39. 67%). It also has a net income growth rate of eighty-one point eighty-eight percent (81. 98%), while maintaining a good debt to equity ratio of forty-three point fifty-two percent (43. 2%). Debt to equity ratio is good compared to the industry average of 63% (Corn 2007). A comparison of the company’s ratios with others in the fields provides a clearer picture of its performance in the industry. The company’s touted revenue growth rate is ranked fifteenth (15th) in the industry and is extremely small compared to the leading company. Its long term growth rate is assessed as twenty-one percent (21%), also fifteenth in the industry. These ratios show us that the company’s performance is not the leading company in its industry but it does perform respectably compared with the other players. In its 10K, the company claims that it has a growing global market (CAM 10K p. 7). Some financial analysts agree with this statement. The CEO of Clear Indexes LLC and Clear Asset Management LLC claims that there is an increasing demand for oil in China and India and the Company is â€Å"ideally placed† in supplying the demand for increased production (Corn). However, because of the ties of Corn’s own company with CAM, this statement should not be taken at its face value. In the 30 April 2007 issue of Fortune, the company is only seventh in the industry with Halliburton ranking first. On a positive note, the company did climb up the Forbes 500 list with a present ranking of five hundred fifty-third (553rd) from last year’s six hundred eighty-fifth (685th). (Fortune 500 annual ranking) Based on the analysis above, the company’s performance is acceptable but not stellar. The changes made by the company towards subsea operations may be the wave of the future, providing not only a significant portion of the company’s revenues but also lowering environmental liability risks that are necessarily included in the company’s operations. The move, however, is not without its disadvantages. Subsea operations requires the commitment of large amounts of capital and expertise, expertise that the company has not fully mastered. The failure of the company in this endeavor will adversely affect the company’s growth for years to come.

Conflicts Between Modern And Traditional Culture Cultural Studies Essay

Conflicts Between Modern And Traditional Culture Cultural Studies Essay Probably the most noticeable change towards society in the last few years has been the manifestation of the word change. We talk of changing our processes and ways of doing things, how to introduce new methods, products, and practices into a fast developing world, that can sometimes be resistant to change whether it is good or bad. However when we refuse to give in to this impending storm of modernity which is set out to change our well-established practices conflict arises. This conflict is being fought but countries all over the world who are on the verge of losing their deep rooted principles, its culture to modernity or westernization. Change or modernity can be used interchangeably they are be presented in two forms its either positive or negative. As a result of globalization some cultures and traditions are been lost. When change emerges in such a way that it condemns your own traditions viewing them as old and stale, such situations give rise to conflicts like in the case of Michael Obi. The fact that both modern methods and traditional ways are both important and valuable for our community cannot be over emphasized. What is it about tradition that makes it so important to people, that even as the respond to change they still dont want to part with it? We usually think of traditions as something that is passed down through the generations, they can also be started again by doing the same thing for three years in a row to positive emotions and feelings of love. Traditions today are our most prized possessions that stay the same it reminds and links us to our past, our roots, and our family. Eventually as we yiel d to change we can only come to the realization that modern methods and traditions are both important to us, and with the help of our knowledge and experience we have gained over the years we can confidently say that a common ground can be established on which modernity and tradition can coexist in such a way that it benefits the parties involved. Chinua Achebes Dead Mens Path is a short story, where the writer embellished the conflicts between modern and traditional culture of a society. For someone to understand this short story you have to dig deeper into the plot, the conflict, the characters, and the whole setting itself in order to fully understand what the writer is trying to convey to the readers. This story tries to highlight some aspects of human nature through the character of Michael Obi. Michael appears to have adopted the ways of the western world or the modern society. He has a very ambitious dream to modernize the school where he has been deployed. Mr. Michael Obi is a reflection of how blind the human mind can be at times. His aspirations have gotten into his head too much that he loses respect of other cultures which he himself is from by virtue of his name Obi which is an Ibo name. Obis high aspirations have certainly infiltrated his mind in such a way that in his conversation with the priest of Ani he conde mns the traditions of the village when he says: The whole purpose of our school, he said finally, is to eradicate just such beliefs as that. Dead men do not require footpaths. The whole idea is just fantastic. Our duty is to teach your children to laugh at such ideas. Obi feels appalled at how their traditions blot the splendor of the school that he runs. He is too engrossed over creating a good image of himself and the inspectors, that he feels the inhabitants and their petty customs are a big obstacle to attaining his goal. Although the belief of the village people appears to be illogical and futile, any agent of change should be open-minded and respectful to their beliefs and practices. Michael Obi fails to accept the varieties of cultures existing in his community, and by imposing what he thought is right he gets his reward: a bad report from the government inspector. A man who couldnt think of a more civilized way of achieving his dreams, thus, yielded to the bad influences of modernization and affecting the peaceful spiritual beliefs of the occupants in the village. In the character of Nancy, Michael Obis wife we are able to see that she has fully adopted modern ways of doing thing. He character symbolizes the western influence. The school r epresents the attempt to separate tradition from modernity, and on a greater extent eradicate superstitious belief completely from the future. The school is where young minds are molded and is a perfect place to begin inserting ideas of change.   One of such similar situations was an incident that happened many years ago in my own native land. The name of my village is amokwe which means in our community which is called ibuzor there were many villagers who were pagans. This traditional worship had been in existence even after the missionary came in and built a church. Most of these traditionalists subsequently became parishioners at St Patricks Catholic Church. Some of the villagers denounced their beliefs and accepted Christianity and some swung both ways they still stick to their traditional beliefs and Christianity. During a certain period the parish had a new priest who openly preached about how diabolical the traditional beliefs were and how they hindered the progress of the people. The teachings of this priest infuriated some parishioners. They held a meeting with other members of the community and came up with a solution. The decided to strip him of his cloths and make him walk with his boxers round the village. Usuall y public disgrace was the highest form of punishment you could face. It basically entailed that you had to walk around the village with no cloths and palm fronds were tied on your waist and head while people followed you at your back and sang songs and flogged you occasionally. This happened to be the punishment that the meeting concluded. Some days later early in morning the villagers set out to the residence of the priest and subjected him to the above explained punishment. This went on for some hours till they reached the local government head quarters called UDI were through the advert of some policemen the priest was speared and released. The case was reported to the bishop of Enugu diocese. The bishop came in and took the priest along with the Blessed Sacrament. The act of taking the Blessed Sacrament meant that masses could not be celebrated at that parish. For one year the community was without Sunday service. After a while some elders came to an agreement and decided to go back and plead with the bishop to reinstate a priest to celebrate Sunday services and have the Blessed Sacrament retuned. Though the bishop agreed a meeting was held with the entire community was a conclusion was drawn. This solution was exactly what the priest of Ani said. Let the hawk perch and let the eagle perch which basically means lets let everyone live. This meant that whoever chose to stick to their traditional belief was left to do what they wanted as long as they didnt cross or condemn each others practices. They basically had to learn to coexist in peace and harmony. This coexistence was finally achieved with time and things gradually returned back to normal. Although today I can say 90% of the villagers are now Christians but there are still the remaining 10% that still practice these traditional religions.   Traditions are very important but when these traditions start to affect us negatively its best we do away with the bad aspect of it or make an effort to modify it into something positive. In our lives today we can only posses maturity when were able respect the various beliefs of people around us; even if, we think it is absurd. These stories explained above re basically reminding us that tradition and modernity should not exist as exclusive entities; rather they should complement each other. It is necessary for Traditions to progress with modernity, yet it should not be destroy the past as was portrayed by Michael Obi when he said, Our duty is to teach your children to laugh at such ideas. Well indeed must look at the past with reverence than with disgust because no matter how modern one maybe our tradition makes us complete. There should always be an ideal blend of modernity and belief each person posses. The plot however is somewhat unfinished for full understanding it will depend on what the readers imagination may perceive. Every now and then human beings become overwhelmed with joy that we forget that there are people around us who may be affected by our careless actions. Michael Obi is a foreigner to that place just like the priest but as a head principal or public figure he should have observed their culture and not impose his own way. Given the wrong education, the students may be detrimental to society, in the same way that Mr. Obi has been detrimental to the village people. In our world today, the younger generations are too busy trying to advance their everyday life by having everything explained scientifically. They tend to neglect the beliefs of their ancestors. However, the destruction of the school created a turning point for the people to accept that the beliefs of the ancestors are as powerful as the innovations of the western world. No matter how powerful a structure may appear to be if its components are empty on the inside, there is practically no doubt that it will disintegrate. The obstruction of this path could mean that education in Africa becomes not a real education of impartial learning but a shrouded way of reaping of the people of their heritage and wealth. The schools purpose becomes not to teach but to create wealth for the colonial masters. The school is a symbol of oppression to the people of Africa where they are mocked in the face by being referred to as some crude, backward and illiterate people, simply because they lack the op timism and contemporary thoughts of their colonial masters or the western world. Sources   Gusfield, Joseph R. Tradition and Modernity: misplaced Polarities in the Study of Social Change.American Journal of Psychology  72.4 (1967): 351-62.  Jstor, Web. . Liscombe, Rhodri Windsor. Modernism in Late Imperial British West Africa: The Work of Maxwell Fry and Jane Drew, 1946-56.  Journal of the Society of Architectural Historians  65.2 (June 2006): 188-215.  JSTOR. Web. .