Developments In Cold Environments Sustainable Essay

How much are later improvements in chilly situations economical ? Angling can disturb natural pecking orders. For instance krill angling in the southern sea is exhausting food supplies for whales and penguins. Overfishing of an animal types can seriously drain its populace, once in a while past recuperation. Overfishing of the patagonian toothfish in the Antarctic is presently a worry. Base trawling gets fish by hauling nets along the ocean bed. This disturbs the eco framework by decreasing light levels thought expanding turbidity and gets different species just as the objective one. Its did in the gull of Alaska, the greenland ocean and the barents ocean. Angling cites have been acquainted with limit the quantity of fish got and forestall overexploitation of the asset. Enormous voyage ships increment contamination in the territories from the boats and from the traveler. Visitors and the travel industry advancements upset untamed life and harm natural surroundings prompting decreased biodiversity. National parks have been set up to permit the travel industry while securing nature for example denali national park in Alaska was set up in 1917 and afterward extended in 1980 to prompt a more noteworthy zone of land. Vehicles and private vehicles are prohibited from the recreation center so visitor’s need to go in leave transports on endorsed courses. The most helpless pieces of the recreation center don’t have any streets whatsoever. So the ground is shielded from the harming impacts of vehicles. Oil slicks can happen during transport of oil from the territory. For instance in 1989 there was a colossal oil slick off the shoreline of Alaska when the exxon valdez oil big hauler slammed. More than 40 million liters of oil spilled into the sea and more than 250 000 feathered creatures and fish were executed. Oil slicks can happen if the pipelines spill somewhere in the range of 1977 and 1994 there were on normal 30 to 40 spills every year from the trans-the Frozen North pipeline. A portion of these were brought about by purposeful assaults and timberland fires. Oil pipes have programmed stopped valves so as to limit oil slicks if the pipelines are harmed.

Compounds With Ionic and Covalent Bonds

Mixes With Ionic and Covalent Bonds An ionic bond is a substance bond between two iotas in which one particle appears to give its electron to another molecule. Covalent bonds, then again, seem to include two iotas sharing electrons arrive at an increasingly steady electron arrangement. A few mixes contain both ​ionic and covalent bonds. These mixes contain polyatomic particles. Huge numbers of these mixes contain a metal, a nonmetal, and furthermore hydrogen. In any case, different models contain a metal joined by means of an ionic attach to covalently fortified nonmetals. Here are instances of exacerbates that display the two sorts of synthetic holding: NaNO3 - sodium nitrate(NH4)S - ammonium sulfideBa(CN)2 - barium cyanideCaCO3 - calcium carbonateKNO2 - potassium nitriteK2SO4 - potassium sulfate In ammonium sulfide, the ammonium cation and the sulfide anion are ionically reinforced together, despite the fact that the entirety of the iotas are nonmetals. The electronegativity contrast among ammonium and the sulfur particle takes into consideration an ionic bond. Simultaneously, the hydrogen particles are covalently clung to the nitrogen iota. Calcium carbonate is another case of a compound with both ionic and covalent bonds. Here calcium goes about as the cation, with the carbonate species as the anion. These species share an ionic bond, while the carbon and oxygen molecules in carbonate are covalently reinforced. How It Works The kind of compound bond framed between two particles or between a metal and set of nonmetals relies upon the electronegativity contrast between them. Its imperative to recall the manner in which bonds are ordered is fairly subjective. Except if two iotas entering a compound bond have indistinguishable electronegativity esteems, the bond will consistently be to some degree polar. The main genuine contrast between a polar covalent bond and an ionic bond is the level of charge partition. Recall the electronegativity ranges, so youll have the option to foresee the sorts of bonds in a compound: nonpolar covalent bond - The electronegativity contrast is under 0.4.polar covalent bond - The electronegativity distinction is somewhere in the range of 0.4 and 1.7.ionic bond - The electronegativity contrast between species shaping a bond is more noteworthy than 1.7. The contrast among ionic and covalent bonds is somewhat vague since the main genuinely nonpolar covalent bond happens when two components of a similar particle bond with one another (e.g., H2, O3). Its most likely better to consider concoction bonds as being progressively covalent or increasingly polar, along a continuum. At the point when both ionic and covalent holding happens in an aggravate, the ionic bit is quite often between the cation and anion of the compound. The covalent bonds could happen in a polyatomic particle in either the cation or the anion.

Blog Archive Monday Morning Essay Tip No Need for Negativity

Blog Archive Monday Morning Essay Tip No Need for Negativity Sincerity. Honesty. Candor. We encourage candidates to strive to incorporate these attributes into their application work, and when they do, successful essays inevitably follow. Yet, can one express too much of these attributes? The answer is “yes, especially when candor turns to negativity. Sometimes, when candidates believe they are being candid, they are in fact revealing themselves to be predisposed to pessimism; as a result, the admissions committee has difficulty identifying with their file. Such situations are unfortunate, but typically avoidable, because an ostensibly “negative” idea can almost always be expressed in a positive and optimistic manner. Example: “In my current position, I am no longer learning and am afraid I will continue to stagnate without my MBA. I cannot achieve my objective of becoming a leader in the Marketing Department at my firm unless…” Common sense would say that the admissions committee would likely not be very excited about accepting an applicant who has stopped learning or who believes that his/her career progress can be thwarted by basic obstacles. Example Revisited: “As I look to the future, I recognize that with MBA training, I could dramatically increase my impact on my firm. With an eye toward a leadership position in our marketing department, I am….” In this revised example, the candidate is expressing the exact same need for an MBA in positive terms and is thus making him/herself a more warm and engaging prospect (while still candidly stating a need for further education). Before submitting your file, check for unnecessarily negative statements. Although we would never suggest that every line in your essays needs to be “sunshine,” you should certainly avoid portraying yourself as a pessimist. Share ThisTweet Monday Morning Essay Tips

The True Vision of Blindness in Oedipus Rex by Sophocles...

People may be blinded to truth, and may not realize what truth is, even if truth is standing in front of them. They will never see truth becase they are blind to it. In Oedipus Rex by Sophocles it is easy to see how blindness affects the transition of the story. It is said that blind people see â€Å"in a different manner† because they sense the world in a totally diferent way, such as Teiresias in the play. Oedipus Rex is a tragedy due to the content the Sophocles, the playwright, decided to include, first, murdering his father, king Laius, then marrying his mother, Jocasta, and ending by blinding himself. Oedipus has been blinded to the truth all his life. Eventually, when he seeks the truth he intentionally loses his physical vision, and†¦show more content†¦As he mentioned while finding the true murdered, he accomplishes the penalty he stated for the murdered, and exiles himself. During his life time, Oedipus was blind to truth, at first, he did not know that Joc asta and Laius were his actual parents. He even rebelled against anyone that would not give him the reason or someone that would contradict him. After so many attempts to evade the truth, he ends up giving up about what is the actual truth. He agrees and accepts that Liaus and Jocasta were his parents, and he ended up killing his father and marrying his mother; he was the one causing hopelessness in Thebes. After he starts to realize all these truths, he decided to blind himself, and become in Teiresias same position. â€Å" And since you have reproached me with my blindness, I say – you have your sight, and do not see what evils are about you, nor with whom, nor in what home you are dwelling.† In this quote, a theme such as blindness is shown through Teiresias’ words to Oedipus, to whom he is telling that even with his physical sight, in the inside he is blind because he is unwilling to know the truth about his life. He also tells Oedipus that since he does not see the truth about his life, he doesn’t see the anguish of his life either. To the reader, it is revealed that what you physically se, may not be what you may see mentally. Irony is also shown in Oedipus Rex in relation to blindness. Teiresias’ is also the character who depicts irony throughoutShow MoreRelatedThe Role of Faith and the Gods in Oedipus Rex Essays1713 Words   |  7 Pagesown hands? Sophocles, in his work Oedipus Rex, establishes a view that gives fate, which is created by the gods, a seemingly inescapable characteristic over man. The role of fate is clearly defined, through the fulfillment of divine prophecy, and Oedipus’ inability to recognize prophecy as a realistic source of knowledge, as a fate that strikes a delicate balance with the free will of man. The balance stricken between fate and free will, in Sophocles’ mind, is portrayed through Oedipus’ fatal flawRead MoreOedipus Rex, A Symbol Of Fate1517 Words   |  7 PagesThe most famous scene in Sophocles’, Oedipus Rex, is when Oedipus gouges out his eyes. But that’s not the only example of sight and blindness in this play. In Sophocles world, eyes play a big part in society, as the theme of vision invites the audience to look at the action with a double perspective, through own eyes and through the eyes of those on stage ( Mastronarde pp. 179-182). Considering eyes as an essential piece, it places them as a motif of the play. Within Greek literature, scholars focusRead MoreEssay on Blindness and Sight - Lack of Vision in Oedipus The King910 Words   |  4 PagesBlindness in Oedipus The King (Rex) What is sight? Is it just the ability to recognize one’s surroundings or is there more? Is it knowledge? Is it understanding? Can a blind man see? Can the sighted be blind? And beyond, when the truth is too terrible, do we choose not to see? The phrase too see has so very many connotations. One meaning is to know or to understand and the other is based on the physical aspects of things. As humans, we are distracted by the physical world, which causes usRead MoreOedipus Rex : The Pursuit Of Self Knowledge1822 Words   |  8 Pages Oedipus Rex: The Pursuit of Self-Knowledge Ciara J. Peterson ENG 200: World Literature- Wilson 03/15/2016 The most famous scene in Sophocles’, Oedipus Rex, is when Oedipus gouges out his eyes. But, that’s not the only example of sight and blindness in this play. In Sophocles plays there was always extensive content where he paid considerable attention to the element of â€Å"spectacle† in his plays. When observing the theme of vision, it invites the audience to look at the action with a double perspectiveRead MoreUse of Blindness in Oedipus the King Essay920 Words   |  4 Pages Sophocles has been known for using his plays not merely to entertain his audience, but to deliver a message too. Out of all of the important lessons in his plays, Wisdom stands out as the most impact full. After all, No law or ordinance is mightier than understanding(Plato 1/2). In the play Oedipus the King, Sophocles uses the blindness of Teriesias, Jocasta, and Oedipus to point out how understanding is far greater than vision alone. In the play Oedipus the King, Sophocles use the blindnessRead MoreThe Tragic Tragedy Of Oedipus Oedipus The King 1742 Words   |  7 PagesNoble yet naive, Oedipus eagerly seeks to discover if the oracle stating that he will murder his father and marry his mother is true. Although the beginning of Sophocles’ play â€Å"Oedipus The King† emphasizes Oedipus’ character as heroic, Oedipus eventually encounters an ironic turn of events once the truth brings knowledge of his past and present, and alters his attitude. The play’s powerful symbolic use of eyes and crossroads paired with the pattern of blindness towards truth foreshadows the downfallRead More Comparing A Dolls House and Oedipus Rex Essay1672 Words   |  7 PagesComparing A Dolls House and Oedipus Rex Ibsens drama A Dolls House, serves as an example of the kind of issue-based drama that distinguishes Ibsen from many of his contemporaries. The plays dialogue is not poetic, but very naturalistic, and the characters are recognizable people. Given the sense of modernity which the play possesses it seems unusual to compare it to a Greek tragedy produced more than two-thousand years previously. On closer examination however, thereRead MoreOedipus The King By Sophocles1165 Words   |  5 PagesOedipus the King was written by Sophocles and was is titled Oedipus Rex in Latin. It is one of the most well-known Greek tragedies. As is the case with Greek tragedies—or roughly most tragedies that make their way to stage—fate plays a key role in the events in Oedipus Rex. Oedipus discovers there is a plague on his city. The only way to lift the plague is by slaying the former king’s killer. As the play’s acts unfold one discovers about the prophecy concerning Oedipus. The prophecy states that OedipusRead MoreOedipus Rex: Imagery of Blindness and Sight as a Medium to the Themes1218 Words   |  5 PagesIn the play, Oedipus Rex, written by Sophocles, an honourable and admirable Greek king named Oedipus rules the town of Thebes. He is left in mental turmoil and decay as his unknown, corrupt and immoral past is slowly revealed during his quest to find the cu lprit who murdered King Laius. The newly exposed past suddenly transforms his glory and respect into shame and humiliation. After he learns about his wicked past he stabs his eyes, which lead to his blindness. During the course of the play, referencesRead MoreThe Tragic Tragedy Of Oedipus Rex1161 Words   |  5 Pages Sophocles’ tragedy Oedipus Rex exemplifies the psychological conflicts that arise as an individual undergoes a drastic realization of character, ultimately leading him on a search to recover his true identity, and along the way bringing to light the darkest demons of his past. The play unfolds through a calamitous tone, which foreshadows the impending downfall of the ruler of Thebes, Oedipus, and the consequences that this downfall will bring to him and all of those around him. The calamitous

The Convergence Of Accounting Principals - 926 Words

The Convergence of Accounting Principals When it comes to financial accounting, there are two sets of standards that seem to have incongruent rule and principal based views on the way things should be done. These standards include the Generally Accepted Accounting Principals (GAAP), which is rule based, and International Financial Reporting Standards (IFRS), which is principal based (Waybright p.260). Despite opposing views, the two have been attempting to fully converge since 2002. Historically, the concept of converging companies has been around since the 1950’s when the term harmonization was introduced. Harmonization was coined to â€Å"reduce the differences among accounting principals† (FASB). Then, in 1990, the term harmonization was replaced by convergence. The Convergence Project between the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB), started to make way in October 2002 when the Norwalk Agreement publicized the merging of both sets of standards. The Norwalk Agreement is a signed understanding by both FASB and IASB to ensure the compatibility of financial standards and future programs. These two committees, along with the Securities and Exchange Commission (SEC), have been working together to improve the accounting standards of GAAP and IFRS. â€Å"The IFRS includes most European countries, Canada, Mexico, China, and Russia†, (Waybright p.259), while GAAP is only used in the U.S. The Norwalk Agreement pledged toShow MoreRelatedWhy The Us Must Not Adopt Ifrs Essay1535 Words   |  7 Pagespossesses its own accounting standard that regulates the preparation of financial statements of a company. In that way, companies’ information might differ between countries making the comparability between financial statements difficult to be implemented by users in order to assess the performance of foreign businesses. In view of the need of a globally accepted accounting standard that promotes uniform standards for worldwide financial reporting, the International Accounting Standards CommitteeRead MoreMgt4045967 Words   |  4 PagesMGT 4045 / 6045 ARTICLE WRITE-UP #8 – TAB K READINGS (IFRS CONVERGENCE) WRITE-UP DUE: Thursday, 10/28/10 1. Explain the rationale for the global harmonization of financial reporting and disclosure requirements. -Make the financial statement more comparable across the global market so investors can invest their capital in more efficient comparable. 2. Identify two groups that are exerting pressure for pursuing global harmonization. How do these two groups stand to benefit from harmonizationRead MoreInternational Financial Reporting Standards For Cross Border Capital Investments1082 Words   |  5 Pagesconsiderable costs are applied to the translation of financial statements prepared under different accounting standards into a comparable form. Multiple number of accounting systems exist which create these differences and accounting is the language of business created by society to present information which reveals the economic health of a company. Like any other language there are many different accounting languages used across various regions of the globe to present this information. 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At the same time, the development has surged in China. Due to the fact that China adopted IFRS as references in standard-setting, making an objective assessment of the accounting convergence effect if important to the development of accounting theory and practice. This essayRead MoreFinancial Statements Ifrs vs. Gaap1615 Words   |  7 Pagesbusiness world, particularly in the accounting field, a major issue has surfaced in recent years relating to the differences between Generally Accepted Accounting Principles (GAAP) and the International Financial Reporting Standards (IFRS). Currently, the majority of countries in the world follow International Financial Reporting Standards guidelines; however, the United States still uses GAAP. This topic has been a main focus because there is a plan for convergence between the two frameworks in theRead MoreThe Convergence Of Gaap And Ifrs1872 Words   |  8 Pagesâ€Å"A review of information about the convergence of GAAP and IFRS† Revenue recognition is one of the major areas that a convergence of Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS) unleashes its fiery wrath on US domestic and global businesses. GAAP are the accounting principles that United States domestic companies currently use. GAAP was made and is regulated by the Federal Accounting Standards Board, known as FASB, established in 1973. ThisRead MoreIfrs And Gaap : Gaap Vs. Ifrs798 Words   |  4 PagesAccepted Accounting Principles (GAAP) are set by the Financial Accounting Standards Board (FASB), an independent, not-for-profit organization, established in 1973 and most U.S companies use GAAP. The FASB’s standards are recognized as authoritative by the Securities and Exchange Commission (SEC), by the American Institute of Certified Public Accountants (AICPA), and by the State Boards of Accountancy. International Financial Reporting Standards (IFRS) are the most used set of accounting principlesRead MoreIfrs: a Review of the Literature1887 Words   |  8 PagesIntermediate Accounting III (10089) Abstract Due to the global integration of business and finance throughout the world, approximately 113 countries have adopted or are working on convergence with IFRS. This paper is a look at the history and an examination of where IFRS stands internationally and with the United States. For several decades the industrialized world has been working toward an international set of accounting standards. Since IFRS has become the de facto international accounting languageRead MoreMsys 111 Test revision 1615 Words   |  7 Pagesdown the barriers 2. The first 3 flatters are different to the last 7 as they are dates or specific events which happened. The remaining three are modern techniques influenced by the 3 events 3. One implication of triple convergence? One implication of the triple convergence is the new found global workforce introducing many new players. 4. What is one implication of living in a flat world? Job and business competition is steadily increasing due to the world flattening and the barriers are coming

Contemporary Issues in Food and Nutrition for Adolescents

Contemporary Issues in Food and Nutrition for Adolescents The importance of establishing health promoting practices during childhood and adolescence has long been recognized by nutritionists and other health professionals. The purpose of this paper is to investigate further the issues relating to adolescents diets and contributing factors. Contributing factors include the increase of fast food consumption, unconventional meal patterns and lack of exercise. During adolescence, the influences on eating habits are numerous. The growing independence of adolescents, increased participation in social life and a generally busy schedule of activities have a great impact on food intake.ï ¿ ½In the September 2007 issue of Health Promotion†¦show more content†¦The survey found that only 20% of students were meeting the daily requirement of four serves of vegetables while 39% were eating the recommended three daily serves of fruit. Our survey found consumption of unhealthy/non-core foods was high, with 46% of students having fast food meals a t least twice a week, 51% eating snack foods four or more times per week, and 44% having high-energy drinks four or more times per week, states Dr Victoria White, from the Centre of Behavioural Research inShow MoreRelatedTo Eat or Not to Eat?758 Words   |  4 Pagesup on your own birthday. This is what happened to eight year old Emily Moore. It is estimated that a whopping eight million Americans have an eating disorder- seven million women and one million men (Stern). An eating disorder is an obsession with food and weight that harms the person’s well being (Ciotola). Eating disorders aren’t just going on a diet and losing a few pounds, it’s an illness. Some of the most common eating disorders are anorexia nervosa and bulimia nervosa. A solution to eatingRead MoreMedia s Influence On Media1703 Words   |  7 Pagesways that they may engage in their community. It is also said that â€Å"the media [is] undoubtedly the major contemporary [mean] of cultural ex pression and communication: to become an active participant in public life necessarily involves making use of the modern media. The media have now taken the place of the family, the church, and the school as the major socializing influence in contemporary society† (Buckingham 5). Quite often, friendships through media are merely extensions of existing, face-to-faceRead MoreResearch Methodology: Qualitative Methods of Data Collection Essay1720 Words   |  7 Pagesconstructionism. In this chapter, I will discuss the specific methodology I plan to use and the three different types of data collection I plan to employ to carry out my study. This study will use a qualitative approach to study and address the issue of the lack of healthy eating promotion in schools. The three types of data collection I plan to use are: direct observation, focus groups and a questionnaire. These methods will be clarified later in this chapter. Rationale for Qualitative Methodology Read MoreNutrition For Health And Development1615 Words   |  7 Pageshousehold food insecurity is one of the three underlying causes of malnutrition. At the international conference of nutrition (ICN) held in Rome in 1992, food security was defined in its most basic form as physical, social and economic access by all people at all times to sufficient, safe and nutritious food which meets their dietary needs and food preference for an active and healthy life. Thus, food insecurity exists when people lack access to sufficient amount of safe and nutritious food, thereforeRead MoreHealth and Nutrition Essay3549 Words   |  15 Pages | | |SCI/220 Version 7 | | |Human Nutrition | | |Group ID: NGEL12-3 | | Read MoreEating Disorders Are Serious Disorders2732 Words   |  11 Pagespsychological and the physiological well-being of the afflicted (Welch, Ghader, Swenne, 2015). Studies concerning eating disorders are showing more and more frequency in younger age groups and especially in those who are athletes, diabetics, and obese adolescents (Martin Golden, 2014). This tells us that symptoms of eating disorders can be caught and treated during adolescence. Today, many schools have very little class time dedicated to educating students about healthy lifestyles. Little, to no informationRead MoreCultural Factors Of Eating Disorders1696 Words   |  7 Pagesto change across time as cultures evolve. Additionally, eating disorders appear to be more widespread among contemporary cultural groups than was previously believed (Miller, 2010, para. 2). Miller (2010) also stated that a variety of American ethnic groups have higher levels of eating disorders than previously recognized. According to Miller (2014), a recent study of early adolescent girls found that Hispanic and Asian-American girls showed greater body dissatisfaction than Caucasian girls.Read MoreEpidemiology And Public Health Significance2485 Words   |  10 Pagesestimated that over 35% of adults aged 20 and over are considered to be obese.8 Of these adults approximately 3 in 4 men are considered to be overweight or obese, while the prevalence of obesity is similar for both men and women.8 Among children and adolescents ages 6 to 19 in the US, almost 33 % are considered to be overweight or obese, and 18.2 % are considered to be obese.8 Racial and ethnic differences also exist as approximately 25.7 % of black, 22.9 % of Hispanic, and 15.2 % of white youth are consideredRead MoreObesity Is A Growing Epidemic Among Men And Women2250 Words   |  9 Pagesrecent yea rs (Maggio, 2014). According to the Center for Disease Control (CDC), childhood obesity has more than doubled in children and quadrupled in adolescents in the past 30 years. The percentage of children aged 6–11 years in the United States who were obese increased from 7% in 1980 to nearly 18% in 2012. Similarly, the percentage of adolescents aged 12–19 years who were obese increased from 5% to nearly 21% over the same period. In 2012, more than one third of children were overweight or obeseRead MoreModern Problems: Childhood Obesity2975 Words   |  12 Pagescommon issues that lead to childhood obesity include an increase in portion size of the foods eaten when away from home. Poor nutrition, described by eating habits also plays a role in causing childhood obesity. Poor nutrition incorporates intake of foods with high levels of calories while having minimal nutritional values. Choices made on foods influence health status of the consumer. This is a qualitative analysi s of the foods consumed. On the other hand, while considering the quantity of foods consumed

International Financial Management Report-the Philippines free essay sample

Table of contents Introduction2 Country Overview2 The Political Environment3 Recent History3 The Present Government3 Political Stability4 Opposition Parties4 Economic and Financial Analysis5 Trade History Major Products5 GDP Growth per capita5 Unemployment Price level Changes Inflation6 Exchange Rate Innovations7 Investments in the Stock Market7 Investments in the Bond Market8 Foreign Exchange Reserves9 Structure of Industries10 The Banking System10 Monetary Policy / Money Supply Growth11 Foreign Debt12 Capital Flight12 Asian Currency Crisis13 Philippines before the crisis13 What caused the Asian Currency Crisis? The effect it had on the Philippines and other countries13 Looking into the Future17 Prevention as the Best Form of Management17 Some Policy Lessons From the Asian Crisis17 Need for Great Caution About Financial Liberalization and Globalization17 Manage External Debt Well and Avoid Large Debts17 Manage and Build Up Foreign Reserves17 The Need for Capital Controls and a Global Debt Workout System18 Conclusion: Summary / Comments / Recommendations19 Works Cited21 Appendix A23 Appendix B24 Appendix C25 Appendix D26 Appendix E27 Appendix F28 Introduction The Philippines were ceded by Spain to the US in 1898 following the Spanish-American War. They attained their independence in 1946 after being occupied by the Japanese in World War II. The 21-year rule of Ferdinand Marcos ended in 1986 when a widespread popular rebellion forced him into exile. In 1992, the US closed down its last military bases on the islands. A quarter-century-old guerrilla war with Muslim separatists on the island of Mindanao, which had claimed 120,000 lives, ended with a treaty in 1996 (www. dci. gov). The Philippines lies off the southeast coast of the Asian mainland. It has approximately 7,100 islands and islets located near the southeastern rim of China. Bordering its coastline to the west and north is the China Sea; to the east is the Pacific Ocean; and to the south, the Celebes Sea and the coastal waters of Borneo. The Philippines location in Asia is strategic since it is situated on the crossroads of Asias commerce and transportation. It plays a significant role in international affairs [Appendix A fig. ] (www. abisnet. com). Country Overview Tw o major languages are spoken in the Philippines: Tagalog and English. Ninety percent of the population are Christians and about 10 percent are Muslims. There is a tropical and humid climate in the lower land areas, but this becomes cooler at the higher altitudes (www. odci. gov). The land area totals 298,170 square kilometers, and the Philippines has a total population of approximately 80 million people. The capital of this large island country is Manila located on the island of Luzon. There are numerous islands in the Philippines that are all prone to earthquakes. Within the Philippines, there lies large mountainous terrain, narrow coastal plains and interior valleys and plains. There are also vast amounts of dormant and active volcanoes, notably Mount Pinatubo in Central Luzon (http://lcweb2. loc. gov). The Political Environment Recent History The Philippines has traditionally had a private enterprise economy both in policy and in practice. The government has intervened through fiscal and monetary policy and in the exercise of its regulatory authority. Although expansion of public sector enterprises occurred during the Marcos presidency, direct state participation in economic activity has generally been limited. The Aquino government set a major policy initiative of consolidating and privatizing government-owned and government-controlled firms. Economic planning was limited largely to establishing targets for economic growth and other macroeconomic goals, engaging in project planning and implementation, and advising the government in the use of capital funds for development projects. The Present Government The present government is conducted under the Freedom Constitution and lead by the National Union of Christian Democrats. The Head of the State is President Fidel Ramos working in conjunction with a bicameral congress consisting of a Senate with 24 members and a House of Representatives with a maximum of 250 members. Under the Constitution, the government is divided into executive, legislative, and judicial departments. The separation of powers is based on the theory of checks and balances. The presidency is not as strong as it was under the 1973 constitution. Local governments are subordinated to the national government [Appendix B] (http://lcweb2. loc. gov/frd/cs/ phtoc. html#ph0007). Political Stability The Philippines has embarked on economic reforms and market liberalization measures in the last few years. As a result of these measures, the economy started to show signs of recovery. After a decline of 0. 5 percent, the Philippines real gross domestic product (GDP) grew by 1. 4 percent. The rate of inflation was 7. 5 percent. The Philippines unemployment rate dropped to 9. 8 percent from 10. 5 percent. Improvements were also registered in the overall balance of payments, the current account and the reserve position of the Philippines. The Philippines government continues to take steps to boost its economy and has embarked on economic reforms and deregulation. The country has adopted an economic stabilization program, supported by the International Monetary Fund (IMF), as part of the efforts to reduce inflation and improve the balance of payments. The Philippines main priorities are to improve political stability, restore economic growth and build investor confidence. Liberalization policies, including abolition of quantitative restrictions on trade, have been announced to attract foreign investments and to improve the competitiveness of the Philippines economy. The government also recently announced the complete liberalization of foreign exchange controls. Opposition Parties In 1991, a new opposition party, the Filipino Party (Partido Pilipino), was organized as a vehicle for the presidential campaign of Aquinos estranged cousin Eduardo Danding Cojuangco. Despite the political baggage of a long association with Marcos, Cojuangco had the resources to assemble a powerful coalition of clans. The Liberal Party, a democratic-elitist party founded in 1946, survived fourteen years of dormancy (1972 to 1986) through the staunch integrity of its central figure, Senate president Jovito Salonga, a survivor of the Plaza Miranda grenade attack of September 1971. In 1991, Salonga also was interested in the presidency, despite poor health and the fact that he is a Protestant in a largely Catholic country. In September, 1986, the revolutionary left, stung by its shortsighted boycott of the February election, formed a legal political party to contest the congressional elections. The Party of the Nation allied with other left-leaning groups in an Alliance for New Politics that fielded seven candidates for the Senate and one-hundred-three for the House of Representatives, but it gained absolutely nothing from this exercise. The communists quickly dropped out of the electoral arena and reverted to guerrilla warfare. As of 1991, no Philippine party actively engaged in politics espoused a radical agenda (http://lcweb2. loc. gov/query). Economic and Financial Analysis Trade History Major Products The Philippines major export commodities are electronic equipment, machinery and transport equipment, garments, and coconut products. The majority of these products are exported to the US at 22 percent, Japan at 20 percent, South Korea at 8 percent, Singapore at 6 percent, Taiwan at 5 percent and Hong Kong at 4 percent. The Philippines must import raw materials and intermediate goods, capital goods, consumer goods, and fuels. They receive most of their imports from the United States, Japan and South Korea. GDP Growth per capita In terms of key economic indicators, the Philippines in 1999 had a gross domestic product (GDP) of $US 265. billion (in 1995 $US), a population of 80 million and a GDP per capita of $US 3,338. In terms of global rankings, this placed the Philippines 24 out of 191 countries in terms of GDP, 13 out of 191 countries in terms of population; and 96 out of 191 countries in terms of GDP per capita [Appendix C fig. 2 fig. 3] (http://lcweb2. loc. gov). Unemployment P rice level Changes Inflation Unemployment, which had averaged about 4. 5 percent during the 1970s, increased drastically following the economic crisis of the early 1980s, peaking in early 1989 at 11. 4 percent. Urban areas fared worse; unemployment in mid-1990, for example, remained above 15 percent in metro Manila. Beyond the unemployment generated from economic mismanagement and crisis was a more long-term, structural employment problem, a consequence of the highly concentrated control of productive assets and the inadequate number of work places created by investment in the industrial economy. The size and growth of the service sector was one indicator. Underemployment was another. Underemployment has been predominantly a problem for poor, less educated, and older people. The unemployed have tended to be young, inexperienced entrants into the labor force, who were relatively well educated and not heads of households. In the first half of the 1980s, approximately 20 percent of male household heads and 35 percent of female household heads were unable to find more than forty days of work per quarter. Unemployment rates have been very volatile over the past 20 years with periods of dramatic inflation and over period with normal inflation. One great factor contributing to this the lack of purchasing power parity in the Philippines is due to weakening currencies and increased unemployment [Appendix C fig. ]. Exchange Rate Innovations The widespread currency crisis in July 1997 prompted the Bangko Sentral ng Pilpinas(Central Bank of the Philippines to allow the Philippine peso to seek its own level. The Monetary Board decided to limit BSPs presence in the foreign exchange market and allow the peso to trade within a wider range, consistent with its market-det ermined policy. The majority of foreign exchange turnover is inter-dealer, and the main players include the major banks, foreign banks and money brokers. Most trading in currencies is spot, although there is a strongly growing market for forward exchange rate transactions. Currently, the turnover of OTC cross-currency interest rate swaps and options is still very low as only a limited number of banks and large corporations engage in the derivatives market. This is primarily due to the absence of appropriate guidelines as well as the need for licensing by the BSP to engage in derivatives trading (http://www. pwcglobal. com. au/ asiabcmhandbook/phil_ bank. html). Investments in the Stock Market Equities are traded through the Philippine Stock Exchange (PSE), one of the oldest stock exchanges in the Far East. Its roots reach back to the Manila Stock Exchange (MSE), which was founded on August 8, 1927. After almost four decades, the Makati Stock Exchange (MkSE) was established on May 27, 1963 amidst strong oppositions encountered. To consolidate logistics and to hasten development, the leaders of both bourses agreed in principle to unify their operation under the new Philippine Stock Exchange, Inc. that was incorporated on July 14, 1992. Despite the agreement to unify in principle, the two exchanges continued to operate separately until March 4, 1994, when the Securities and Exchange Commission granted the Philippine Stock Exchange, Inc. ts license to operate as a securities exchange. It simultaneously canceled the licenses of MSE and MkSE, thus making PSE the sole operating stock exchange in the country. Despite its age, the PSE has remained relatively small. Only 224 companies and 303 issues were listed on it as of June, 2000. Of these, only 120 to 140 issues are actively traded. More importantly, most analysts believe that only thirty to fifty issues can be considered investment grade. The fifty most traded securities account for over 80% of the total value turnover. In 1997, when the Asian financial crises began, only five companies securities were listed. There were none in 1998 and one each in 1999 and 2000 (http://www. pwcglobal. com. au/asiabcmhandbook/phil_bank. html). Investments in the Bond Market The Philippine debt markets include the money market for short-term securities (including treasury bonds and mutual funds) and the bond market for long-term treasury bonds and corporate bonds. The debt market still relies heavily on funding from the national government, which remains as the principal issuer of debt securities in the Philippines. The national government offers various debt securities from 91-day treasury bills to 10-year treasury bonds, which could also be either fixed rate or floating rate. As of 28 February 1999, the total amount of T-bills and T-notes outstanding was P818 billion. T-bills and T-notes are available from accredited government securities dealers, generally banks and some investment houses. The PSE has plans to list five-year T-notes and hopes to not only expand the secondary market for them but perhaps, more importantly, provide a better benchmark for their valuation by domestic funds and other investors. On the other hand, bonds issued by the local government units (LGU) are small compared with other debt securities and total only P96 million, although several LGU bond issues are in the pipeline. Corporate debt securities are also too small as only about forty local companies are issuing such securities (http://www. pwcglobal. com. au/asiabcmhandbook/phil_ bank. html). Foreign Exchange Reserves The Philippines had turned to the IMF previously in 1962 and 1970 when it had run into balance of payment difficulties. It did so again in late 1982. An agreement was reached in February 1983 for an emergency loan, followed by other loans from the World Bank and transnational commercial banks. Negotiations began again almost immediately after the moratorium declaration between Philippine monetary officials and the IMF. The situation became complicated when it came to light that the Philippines had understated its debt by some US$7 billion to US$8 billion; overstated its foreign-exchange reserves by approximately US$1 billion; and contravened its February 1983 agreement with the IMF by allowing a rapid increase in the money supply. A new standby arrangement was finally reached with the IMF in December 1984, more than a year after the declaration of the moratorium. In the meantime, additional external funds became nearly impossible to obtain. The Philippine external debt has grown to over US$27 billion. The countrys most immediate concern was with meeting debt-service payments. Reduction in the size of the debt was a longer-term issue. Debt servicing, US$3 billion in 1986, was a drain on both the countrys foreign-exchange earnings and its investible surplus. Technocrats in the National Economic and Development Authority recommended declaring another moratorium, this time for two years, to allow the country a breathing space. Measures were introduced in Congress in 1986 and subsequent years to cap annual debt-service payments. The Aquino administration and the Central Bank, however, consistently resisted both tactics, opting instead for a cooperative approach with the countrys creditors (http://lcweb2. loc. gov/cgi-bin/query/D? cstdy:2:. /temp/ ~frd_GI0E:). Structure of Industries The most predominate industry in the Philippines is the manufacturing industry which accounts for almost all the known production in the country. In 1990, the industrial sector was inefficient and oligopolistic. Although small and medium-sized firms accounted for 80 percent of manufacturing employment, they accounted for only 25 percent of the value added in manufacturing. Most industrial output was concentrated in a few, large establishments. For example, a six-month Senate inquiry determined in 1990 that eight of the countrys seventeen cement-manufacturing companies were under the control of a single firm. Despite manufacturing being one of the largest sectors within the Philippines, the country shows a lopsided and biased approach towards wealthy companies thus showing another example of a third world, two tiered society [Appendix D] (http://lcweb2. loc. gov/cgi-bin). The Banking System The Philippine financial system in the early 1990s was composed of banking institutions and non-bank financial intermediaries, including commercial banks, specialized government banks, thrift and rural banks, offshore banking units, building and loan associations, investment and brokerage houses, and finance companies. The Central Bank and the Securities and Exchange Commission maintained regulatory and supervisory control. The Philippines had a relatively sophisticated banking system; however, the level of financial intermediation was low relative to the size of the economy. In 1990, the six largest commercial banks earned an estimated P7. 9 billion in after-tax profits, an increase of 42 percent over 1989, which in turn was a 32 percent increase over 1988. A 1991 World Bank memorandum noted that the extent of bank profits indicated a lack of competition and a market structure for financial services characterized by oligopoly. Philippine banks had the widest interest rate spread (loan rate minus deposit rate) in Southeast Asia (http://lcweb2. loc. gov/cgi-bin/query/D? cstdy:1:. /temp/~frd_YnR7:). Monetary Policy / Money Supply Growth The Central Bank of the Philippines was established in June 1948 and began operation the following January. It was charged with maintaining monetary stability; preser ving the value and convertibility of the peso; and fostering monetary, credit, and exchange conditions conducive to the economic growth of the country. In 1991, the policy-making body of the Central Bank was the Monetary Board, composed of the governor of the Central Bank as chairman, the secretary of finance, the director general of the National Economic and Development Authority, the chairman of the Board of Investment, and three members from the private sector. In carrying out its functions, the Central Bank supervised the commercial banking system and managed the countrys foreign currency system. Money supply growth has been highly variable, expanding during economic and political turmoil and hen contracting when the Philippines tried to meet IMF requirements [Appendix C fig. 1]. Before the 1969, 1984, and 1986 elections, the money supply grew rapidly. The flooding of the economy with money prior to the 1986 elections was one reason why the newly installed Aquino administration chose to scrap the existing standby arrangement with the IMF in early 1986 and negotiate a new agreement. The Central Bank released funds to stabilize th e financial situation following a financial scandal in early 1981, after the onset of an economic crisis in late 1983, and after a coup attempt in 1989. The money was then repurchased by the Treasury and the Central Bankthe so-called Jobo bills, named after then Central Bank Governor Jose Fernandezat high interest rates, rates that peaked in October 1984 at 43 percent and were approaching 35 percent in late 1990. The interest paid on this debt necessitated even greater borrowing. By contrast in 1984 and 1985, in order to regain access to external capital, the growth rate of the money supply was very tight. IMF dictates were met, very high inflation abated, and the current account was in surplus. Success, however, was obtained at the expense of a steep fall in output and high unemployment. Foreign Debt The Philippines owed about US$28 billion to foreign creditors. Borrowed money had not promoted development, and most of it had been wasted on showcase projects along Manila Bay or had disappeared into the pockets and offshore accounts of the Marcos and Romualdez families and their friends and partners. Many Filipinos believed that they would be morally justified in renouncing the foreign debt on grounds that the banks should have known what the Marcoses were doing with the money (http://lcweb2. oc. gov/cgi-bin/query/D? cstdy. 2:/temp/~frd3aGw). Capital Flight Efforts to reduce the external debt included encouraging direct investment in the economy. In August 1986, the Philippines initiated a debt-equity conversion program, which allowed potential investors who could acquire Philippine debt instruments to convert them into Philippine pesos for the purpose of investing in the Phi lippine economy. Because the value of the debt in the secondary market was substantially less than its face value, the swap arrangement allowed investors to acquire pesos at a discount rate. The Filipinos had a desire to bring their wealth back into the country. Critics questioned whether those who engaged in capital flight should be awarded a premium for returning their wealth to the Philippines. There also was the question of the arbitrage possibilities of round tripping, whereby investors with pesos engaged in capital flight to obtain foreign currency, which was used through the swap to achieve a much larger amount of pesos (http://lcweb2. loc. gov/cgi-bin/query/D? cstudy. 3:/temp/~frdOlvV). Asian Currency Crisis Philippines before the crisis In November 1965, Ferdinand Marcos was elected president, and in 1969, he became the first elected president to win reelection in the Philippines. In September 1972, President Marcos imposed martial law citing growing lawlessness and open rebellion by the communist rebels. As a matter of fact, Marcos did this largely in order to perpetuate his regime. During the martial law period, the democratic institutions were suppressed, and the Marcos regime became a dictatorship. The martial law ended in 1981, and Marcos was reelected as the president that year to a six-year term. However, a democratic country since independence, the Philippines politics and economy had been dominated by a small landholding elite who was against social changes. The Marcos dictatorship further hindered the countrys political and economic development. During the 1970s and 1980s, while most of other Southeast Asian countries were flourishing economically, the economy of the Philippines was undergoing stagnation with extreme poverty in some regions (http://www. countrywatch. com/files/137/cw_topic. asp? vCOUNTRY=137= HISTO). What caused the Asian Currency Crisis? The effect it had on the Philippines and other countries Domestic savings were not sufficient to drive all the Southeast Asian economies to continual rapid economic growth. Thailand and Malaysia ran current account deficits amounting to 10 percent of GDP funded by net private capital inflow throughout the 1990s. Indonesia, China and South Korea ran smaller but still substantial deficits in the 3 percent to 4 percent range [Appendix E fig. 2]. Serious policy mistakes were made. Thailand, Malaysia, Indonesia and South Korea, along with Hong Kong, attempted to peg their currencies to the US dollar. This gave these regional currencies an advantage when the yen was strong and the US dollar was declining against other currencies. Export-led growth was facilitated. In the nineties, however, US policies that generated a strong greenback set the scene for disaster for those currencies pegged to it. China devalued its currency towards the end of 1994 and at the same time brought in export subsidies. Southeast Asian exports in competition with China were hit hard. The Japanese regulators, including the Ministry of Finance, refused to do anything about the huge bad debts of around US$366 billion run up by Japanese banks during the asset pricing bubble of the late 1980s. Supposedly, all the land in Australia could be purchased for less than the grounds of the Imperial Palace in Tokyo. Low interest rate policies designed to help the technically insolvent Japanese banks and kick-start the stalled Japanese economy led to massive capital injections into South- East Asia, attracted by high domestic interest rates. Officials, often allied with interested parties, believed that they were immune from so called ‘speculative’ attack when they set rates at levels they knew to be entirely unrealistic. For example, some years ago the Australian Wool Reserve Price Scheme continued to purchase virtually the entire Australian wool clip and nearly all private stockholdings worldwide at prices far higher than any foreign buyer or consumer was willing to pay. Eventually, the Australian Labor (Keating) Government walked away from it, realizing there were limits to the extent that taxpayers were willing to pay to bail out such stupidity. The collapse of the Wool Reserve Price Scheme and the huge stockpile which still overhangs the market are as much due to the actions of Australian woolgrowers producing wool to satisfy the irrational demands of the Wool Board as they are a consequence of international speculation. The guiding hand of the state helped the private sector make huge investments in Malaysia and elsewhere in Southeast Asia in production facilities for computer chips and electronics generally. In the last few years, the demand for this kind of production from South-East Asia has fallen greatly. Similar misguided industry policy in South Korea contributed to a glut of production facilities in the vehicle industry. Corporate sector borrowing has reached about 200 percent of GDP with a debt to equity ratio for major companies in excess of 400 percent and bankruptcy rampant. In 1997, 13,971 firms in South Korea went bankrupt. The debts of eight large chaebol (conglomerates) alone amounted to US$21 billion. Strong union pressure has contributed to an enormous rise in manufacturing wages, putting them at well in excess of UK levels, and perhaps double that of some of their competitors. The Chairman of the US Federal Reserve, Alan Greenspan, has commented adversely on the turnaround in capital inflows in Southeast Asia from 8 percent in 1996 to minus 2 percent in 1997: the turnaround does not appear to have resulted wholly from a measured judgement that fundamental forces have turned appreciably more adverse. More likely, it is a process that is neither measured nor rational. His remarks have been endorsed by the Governor of the Reserve Bank, Ian Macfarlane (1998). The Deputy Governor, Stephen Grenville (1998), points out that as often happens in financial markets, euphoria turned to panic without missing a beat. These charges of irrationality in terms of international portfolio investment are not borne out by existing research prior to the meltdown that finds such flows reduce the cost of capital in the recipient country and do not increase the volatility of equity returns. There is no evidence that uninformed investors produce contagion. Moreover, the currency movements and turnaround in capital flows seem to be a consequence of more serious underlying problems rather than causal factors. A combination of large current account deficits, inflexible over-valued exchange rates, considerable under-utilized capacity and enormous private sector borrowing underwritten implicitly by the State were common to Thailand, Indonesia and South Korea. The financial meltdown contagion spread rapidly, first, from Thailand to Indonesia and then from Indonesia to Malaysia and South Korea. The mechanism by which it spread appears to have been the attempted withdrawal of short-term loans by banks once they recognized the similarity in conditions between those Southeast Asian countries and South Korea. The monetary authorities were unable to resist the downward pressure on the won, exchange reserves were depleted and in December 1997 an IMF bailout of record proportions, US$59 billion, was negotiated. By late January the won was about 40 percent lower than in July 1997 (http://www. cis. org. au/Policy/ autumn98 /aut9802. tm#bioswan). In 1998, the Philippine economy slowed from reverberations of the Asian Crisis and El Nino. The Philippines were able to weather the Asian Crisis better than most of their neighbors, however, due to better starting conditions, early floating of the peso, adaptation of monetary and fiscal policies, and a successful program to strengthen the banking sector. Tighter standards were implemented to encourage recapitalization of weaker banks throug h capital infusions or mergers with stronger banks. The rehabilitation and full privatization of the Philippine National Bank is proceeding, with completion slated some time this year. Reforms in the corporate sector, trade and investment liberalization are continuing, and the government is embarking on a comprehensive set of public sector reforms, with World Bank assistance. The government has recently revamped the action plan that improves tax administration and remains committed to strengthening the Bureau of Internal Revenue and improving taxpayer compliance. Looking into the Future Prevention as the Best Form of Management Some Policy Lessons From the Asian Crisis Developing countries should rethink the benefits and risks of financial liberalization. In particular, they have to take great care to limit their external debt (especially short-term debt), improve the balance of payments and build up their foreign reserves. Need for Great Caution About Financial Liberalization and Globalization In a rapidly globalizing world, developing countries face tremendous pressures coming from developed countries, international agencies and transnational companies to totally open up their economies. Manage External Debt Well and Avoid Large Debts Developing countries should not build up a large foreign debt, whether it is public or private debt, even if they have relatively large export earnings. In good years, these factors can be offset by large inflows of foreign long-term investment. It is, thus, important to watch the relation of levels of debt and debt servicing not only, to export earnings but also to the level of foreign reserves. Reserves should be built up to a comfortable level, sufficient to service debt, especially short-term debt. Manage and Build Up Foreign Reserves The careful management of foreign reserves has thus emerged as a high-priority policy objective in the wake of the Asian crisis. There are so many factors involved, such as the movements in merchandise trade (exports and imports), the payment for trade services, the servicing of debt and repatriation of profits, the inflows and outflows of short-term funds, the level of foreign direct investment and the inflows of new foreign loans. As can be noted, these items are determined by factors such as the trends in merchandise trade, and the external debt situation (in terms of loan servicing and new loans). The confidence factor affects the volatile movements of short-term capital as well as foreign direct investment. The country may now need inflows of long-term investments and long-term loans in order to provide liquidity and build reserves. In the past year, there has been the reverse problem of large outflows of short-term funds caused by the withdrawal of foreign and local funds to abroad. The Need for Capital Controls and a Global Debt Workout System The crisis has also exposed the great lack of an international mechanism that comes to the aid of a country facing severe problems in external debt repayment. It was assumed that financial liberalization and private sector borrowing would not pose problems as banks, investors and companies would have calculated accurately their credit, loan and investment decisions. Most top-level companies and many banks in the affected East Asian countries are in trouble or insolvent as a result of having loans and projects gone sour. Most serious are the loans contracted in foreign currency, for a default in these can bring down the countrys financial standing. In the case of the unrepayable foreign loans in Thailand, Indonesia and South Korea, the market failure was caused by their local banks and companies. At least, the governments have to consider having stronger regulation to prevent private banks, financial institutions and companies from making mistakes, especially in relation to foreign-currency loans. Malaysian Bank Negaras regulation that private companies have to seek its permission before taking foreign loans, which will be given only if it can be shown that the projects can earn foreign exchange to finance debt servicing, should be maintained in Malaysia and emulated by other countries. Stricter regulatory guidelines implemented by BSP; consolidation and convergence between insurers, funds managers and banks, and innovative products and services will improve the quality of bank management. BSP also drew up guidelines on the duties of bank directors. These stringent requirements are in accordance with BSPs view that better bank governance means greater transparency and better bank management. The recent passage of the new general banking law expanded BSPs supervisory and regulatory powers giving it more flexibility in supervising the banking industry. This new general banking law superseded the half-century old general banking act of 1949. It now forms the basic legal fabric governing the banking system. The law also liberalizes foreign participation in domestic banks by increasing the allowable foreign ownership of domestic banks to 40 percent or a maximum of 100 percent under certain conditions. It also upgrades the countrys banking laws to meet global standards from teller machines (ATMs) to internet banking. The new leadership of the BSP sees the current developments in the banking industry as a trend following the practices of other countries. The early part of the decade saw ten foreign banks given license to operate in the country, one of which gave up its slot when it merged with another foreign bank (http://www. pwcglobal. com. au/asiabcmhandbook/phil_bank. html). Conclusion: Summary / Comments / Recommendations As with anything in life, man must take the good with the bad. The Asian Currency Crisis was not a positive time in Asian history, but many lessons can be taken from the time of grief in order to strengthen all affected and less affected countries. The Philippines was not hit hardest by the Crisis, but this by no means indicates they do not have problems. The Philippines problems have routed back to their leadership and government since the early 1970’s. The Asian Crisis was just made a little worse by the Philippines due to their large amounts of outstanding debt, their ignorant growing money supply, and their vast inability to repay any of their creditors. As I said before, this time of financial grief will hopefully make the Asian continent and the Philippines stronger in their decision-making and prevention skills. It is known that it is better to be proactive than reactive, just as we should prevent rather than have to resolve. Life’s lessons can come in all shapes and forms. This lesson just happened to involve billions and billions of dollars. Works Cited â€Å"Asia’s Financial Crisis. † 3 Apr. 2001. http://www. cis. org. au/Policy/autumn98/aut9802. htm #bioswan . â€Å"Country Profile. † 25 Mar. 2001. www. abisnet. com. â€Å"Exchange Rate. † 1 Apr. 2001. http://www. worldbroker. net/tools/profile/ countries/prf/c_ profile. phtml? tid=PH. â€Å"External Debt. † 29 Mar. 2001. http://lcweb2. loc. gov/cgi bin/query/D? cstdy:2:. /temp/~frd_ GI0E . â€Å"Finance. † 1 Jun. 1991. . â€Å"Geography. † 25 Mar. 001. http://lcweb2. loc. gov . â€Å"History of the Philippines. † 1 Feb. 2001. http://www. countrywatch. com/files/137/cw_topic. asp? vCOUNTRY=137TP=HISTO . â€Å"Industry. † 29 Mar. 2001. http://lcweb2. loc. gov/cgi-bin. â€Å"Monetary Policy. † 3 Apr. 2001. http://lcweb2. loc. gov/cgi- bin/query/D? cstdy:3:. / temp/ ~frd _OlvV:. â€Å"Opposition Party. † 1 Apr. 2001. http://lcweb2. loc. gov/query . â€Å"Some Policy Lessons From the Asian Crisis. † 3 Apr. 2001. http://www. pwcglobal. com. au/ asiabcmhandbook/phil_bank. html . â€Å"The History. † 2 Apr. 2001. lt; http://www. pwcglobal. com. au/asiabcmhandbook/phil_bank. html. â€Å"The Inheritance from Marcos. † 1 Jun. 1991. http://lcweb2. loc. gov/cgi-bin/query/D? cstdy:2:. /temp/~frd_3aGw . â€Å"The Stock Market. † 2 Apr. 2001. http://www. pwcglobal. com. au/asiabcmhandbook/phil_ bank. html . â€Å"The World Fact book 2000. † 29 Mar. 2001. www. odci. gov. â€Å"The World Fact book 1999. † 25 Mar. 2001. www. odci. gov1999. â€Å"Under the Constitution. † 28 Mar 2001. http://lcweb2. loc. gov/frd/cs/phtoc. html#ph0007. Appendix A Appendix B Appendix C Appendix D Appendix E Appendix F

Essential Services for Refugees in Auburn, New South Wales

Jit

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Love Assignment Example | Topics and Well Written Essays - 2500 words

Love - Assignment Example The main activities of the program that will be undertaken within Bonnie Brae Residential Facility include counseling, parental training, individual and group mentoring among others. Some of the key parties that this project will rely on are parents, clinical officers, law enforcers, mentors, local support agencies, residential staffs and members of the community. With the financial assistance from the federal government, the program is focused at attaining positive outcomes that include improved skills, behavior change, high self esteem, determination and increased income for the adolescent males. Proper planning, controlling, management and effective coordination are some of the major aspects that determine the success of a project. One of the duties of a project manager is to oversee proper use of financial resources that are given by federal government or grant making foundations. In addition, project managers must ensure that the objectives of their projects are in line with the needs of the target population. In this way, projects will enjoy the support of the members of the community as well as the government. Based on the wide range of activities that are undertaken to make a project successful, it is paramount for regular evaluation of the goals to avoid deviation and loss of resources. In the contemporary world juvenile delinquency has become a major security threat. In their efforts to curb the negativities associated with illegal behaviors by young people, various rehabilitation centers have been established. Although government authorities allocate adequate funds to oversee the running of the treatment centers, crime rate in many countries remain high. This means that there is a gap that exists in the process of transforming the young people to become responsible adult. This paper analyzes the major aspects that will be covered by a program that aims at improving

Recycled Concrete Aggregate and Implementation Problem

Recycled Concrete Aggregate and Implementation Problem Aggregate is one of the most vitally important materials in use for production as it profoundly influences concrete properties and performances. In terms of volume, aggregate is now one of the most widely used materials in the construction industry and, consequently, its treatment at the point of demolition is attracting mush interest. This is to represent total aggregate production, including usage in concrete and road base. Aggregate usage in concrete constitutes perhaps between 25 and 35 per cent of the total aggregate production. The sheer bulk of global aggregate usage is staggering. The above inevitably impacts on the environment due to the great huge quantity of general and construction waste materials or from building demolition site generated in developed countries. The disposal of all this waste has become a harsh social and environmental problem. This is a large burden on the worldà ¢Ã¢â€š ¬Ã¢â€ž ¢s natural resources and an increasingly expensive problem for solid waste management. Therefore, a possible alternative aggregate method to overcome this issue may be using recycled concrete aggregate instead of natural aggregate in construction task. The solution not only helps preserve and expand the natural resources, but also can reduce waste disposal costs as well as the removal of waste at landfills requirements. In this project, the order most important issue is to determine the best solution to make the recycled concrete aggregate economical for most infrastructure tasks especially in structural concrete. The degree of potential recycling of construction waste will show how the changes to become a new source or production, and find out whether it applies to, or less in Malaysia. Therefore, it can become a reference of implementation to the developers and contractors or increase recycling percentage of construction waste of their construction project. RESEARCH GOAL 1.2.1 TITLE The use of recycled concrete aggregate and implementation problem recycle in Malaysia. 1.2.2 AIM The research is to study how the recycled concrete aggregate be produced and its application. Besides that, the research also to examine the implementation problem for recycling concrete or aggregate in Malaysia construction industry. 1.2.3 OBJECTIVE 1) To define the method of recycling aggregate for use in concrete 2) To find out the application of recycled concrete aggregate 3) To determine the implementation problem of recycling concrete or aggregate in Malaysia. HYPOTHESIS Although the concrete or aggregate waste in Malaysia increasing, but Malaysia does not recycling concrete or aggregate rather than other country, such as Japan. RESEARCH QUESTION What are the factors affecting recycling concrete aggregate? How the implementation of recycling concrete aggregate in Malaysia compare with other country. BACKGROUND The recycled concrete aggregate can be defined as crushed concrete composed of aggregate fragments coated with cement paste or cement mortar from the demolition of the old structures or pavements that has been processed to produce aggregates suitable for use in new concrete. (Environmental Council of Concrete Organizations, 1999)The processing, as with many natural aggregates, generally involves crushing, grading and washing. This removes contaminant materials such as reinforcing steel, remnants of formwork, gypsum board, and other foreign materials. (G. D. Taylor, 1991) The application of Recycled Aggregate is mostly currently in low quality/strength concrete, for example, pavement base and slab rather than used in structural concrete. The most common application of Recycled Concrete Aggregate is the use in concrete sub-base in road construction, bank protection, noise barriers and embankments, many types of general bulk fills and fill materials for drainage structures. After the removal of contaminants through selective demolition, screening, and/or air separation and size reduction in a crusher to aggregate sizes, crushed concrete can be used as new concrete for pavements, shoulders, median barriers, sidewalks, curbs and gutters, and bridge foundations; structural grade concrete; soil-cement pavement bases; moulded concrete bricks and blocks, such as bituminous concrete. (Environmental Council of Concrete Organizations, 1999) SCOPE OF STUDY This research will identify about the recycle collection method, technical and process of aggregate is being study. Besides that, is to study the application of recycled concrete aggregate in construction industry. Lastly is the factor which may affecting the recycling potential such as, economic benefit, environment consideration and carry out the recycle service of concrete aggregate also a path of scope of study. The data and information were collected through literature reviews, questionnaires, and case study, all of these are facts and no assumptions have been made. RESEARCH METHODOLOGY In this research paper, information and data will be collected by 3 major approaches, the primary data source which will be postal questionnaire and interview. Secondary data source is literature review. These research methods are being chosen other than the case study because it is more suitable to be used in the research and can be done in a larger scope. Literature study Reference Books and Article In this research, I will get the information from library resource and reference books. Literature review on the topic of this research can find out from Library College. I have also refers the senior dissertation as a references or guideline in order to get some scheme to complete my research. Electronic information For the electronic information, I will search the information from websites for example www.google.com, www.yahoo.com, emerald are used to find the relevant information regarding to my objective and summary for article. Questionnaires For the questionnaire is prepared in order to achieve the objectives. I would like to use postal questionnaires method, which can collect broader perception and data for research analysis and facilitate the outcome of this study. The questionnaires is designed to answers the objective that has been outlined. The questionnaire is distributed to selected construction firm company and experience personnel such as main contractor. In order to obtain a high accuracy of survey, 30 sets of questionnaire are sending out. The next step after the data collection would be data analysis. This method includes compiling all the data collected. The survey is carried out to further look deep into the implementation problem and its factor of recycling in Malaysia construction industry. Interview I would like to use interview as my survey. I selected this methodology because it is face to face communication and can obtain direct respond. Interview methodology will be the structure interview. The interviewees for my survey will be the experience contractor or recycling company. Form the interview, interviewees can provide the right information, valuable opinion, and experience about the factor and implementation problem may affect the recycling potential in Malaysia 1.6 CONTENT OUTLINE Chapter 1: Introduction Chapter 2.1: Recycling and reuse concrete aggregate recycling method for aggregate, which use as concrete Standards and specifications of recycled concrete aggregate Chapter 2.2: The advantages or disadvantages of reuse the recycled material waste Cost, quality and properties Source and environment Chapter 2.3: The application of recycled concrete aggregate The use of recycled concrete material in construction industry Chapter 2.4: The implementation problem recycling concrete aggregate in Malaysia The status of implementation to recycling concrete aggregate The factor of implementation problem recycling concrete aggregate Chapter 5: Designing the case study and research methodology Chapter 6: Analysis and evaluating the case study evidence Chapter 7: Recommendation and conclusion

The Ninja :: essays research papers

Master of the Orient THE NINJA Born and raised in New York City, Eric Lustbader graduated from Columbia University in 1969. Lustbader has had a number of fascinating best-selling novels, including Black Heart and Angel Eyes, he introduced Elton John to the American music scene. He spent fifteen years in the music industry in various capacities, including working for both Elektra and CBS Records. He is a former writer for Cash Box magazine where he wrote lead stories on new rock acts. In that capacity, he was the first person in the United States to predict the success of Jimi Hendrix, David Bowie and Satana, among many others. Lustbader has taught in the All-Day Neighbourhood School Division of the NYC Public School System and has also taught pre-schoolers in special early Childhood programmes. Eric Lustbader, who travels worldwide in researching his novels, lives in Southampton, New York, with his wife Victoria Lustbader, who works for the Nature Conservancy. Well, I don't want to give the whole story away in this report, so I am going to summarise the story very briefly. The book isn't really just about a few selected people, but instead the author tries to see it from a lot of different perspectives. Therefore the reader get to know a variety of personalities. The Ninja is a high-voltage novel of intrigue and sensuality, richly characterised, fuelled by relentless suspense, an extraordinary thriller, least to say. If there's a main character in the book I think it would be Nicholas Linnear, a man of half-English, half-Oriental origin. A quite special man I will tell you more about later in this report. Anyway, the story begins with a murder, a clean, silent and mysterious murder. The police don't have a clue, so they call in Nicholas, an expert on this type of murders. Nicholas doesn't want to tell the others in the beginning, but he has his thoughts. As the story continues he start to split up the problem and suddenly everything is crystal clear. This isn't the usual type of murder, instead something even worse. An assassination, performed by a man bound by the blackest code of honour and skilled in the deadliest martial arts. This was the work of a ninja, a far remnant of the East. Nicholas must fight against a past he can't escape, trapped in a web of old lust and present passions, he uses all his skill and knowledge to survive.

Psychology Post Labor Day

This Sync drone results in anxiety, lack of motivation, difficulty concentrating and a feeling of e emptiness during the first few weeks of returning to work. There is a lot of factual inform action that is used to back up this idea. Most of the research is professionally studied and scientifically proved. However, some evidence is stronger than others. This article provides a lot of evidence. This article is mostly scientific because almost all of the information comes from professional doctors, journals, or SST dies.For example, a study of 96 Dutch workers â€Å"found that health and wellbeing return De to pre vacation levels during the first week back at work. † This was conducted by pro fissionable and published in the journal Work and Stress. The article also states information on and then tells the readers where that information came from, weather it was a jog renal or a person. For example, after the article explains to be alert for symptoms of Pos t Vacation Syndrome, it refers to its source, â€Å"†¦ Says Katherine Mueller, assistant director o f the Center for Integrative Psychotherapy in Allentown, P. † The article gives a thou rough description of who the person is. Her occupation/ position and her location. Some evidence is slightly stronger scientifically than others because of its accuracy. Not all the people who are mentioned in this article are 100% correct but they are not war Eng either. Some evidence gives a more accurate description than others. For example, † An estimated 6% of the U. S. Population suffers from SAD† (Seasonal Affective Dies order) This piece of evidence gives a numerical value which makes it more accurate than the statements above.Most evidence in this article is factual however there are some opinions. Facts are pieces Of information that are scientifically proven while opinions are the way someone thinks and their viewpoint on a topic. For example, Emily Clicking has an opinion on children' s' and adults' mindsets on going back to school. ‘†General Y, kids can't wait to go back to school. For parents, that means months of purchasing , planning, nagging, chauffeuring, chaperoning and negotiating. † This is an opinion because SE it is not true for all children and parents to view going back to school that way.That SST atonement reflects more on Clinician's point of view than on scientifically proven facts. If Clicking would have mentioned a percentage of how many kids are excited to go back to school and how many parents are not excited for the school year to begin, it would b e a more reliable source. Findings in this article are trustworthy because it uses a lot of sources such as different people and different studies in different journals. This create s an unbiased argument.

Kinship and Politics - 1504 Words

How do these texts illustrate the relationship between kinship and politics? In Greek Mythology, the power of right is passed by kinship in generations, and people’s belief in gods leads their life and their acts show gods’ will. In the meanwhile, politics originally indicates certain relationships are between politics and groups of individuals. Moreover, politics is always referred to methods, including the purpose and the use of power, for addressing impacts on the tendency of those individuals’ performance, as well as their engagement and activities in civic affairs. In result of that, theories of political behavior are aimed at explicating the influences that define an individual’s behaviors, opinions, and participation in civic†¦show more content†¦Athena brought in a new trial system, the introduction of jury, although she still respected that the male should be honored above all else for the sake of that she was born from Zeus’s thigh without any women’s distribution. Athena respects men above all else and so supports Orestes. We can have a look at texts below No mother gave me birth. I honor the male, in all things but marriage. Yes, with all my heart I am my Father’s child. I cannot set more stores by the woman’s death. She killed her husband, guardian of their house. Even if the vote is equal, Orestes wins. These texts provide Apollo and Athena the materials that they found evidences to support the thought of not guilty of Orestes. The violence in the old system has fallen to a continuing circle which forced the gods to find out a settlement of a new system of justice, in which the moral conflicts and disputes would fairly be resolved. The gods themselves could not judge cases, or else the world would be caught in the crossfire of the gods as it had during the Trojan War Thus, in the demand of the new system, the settlement at the end illustrates the relationship between kinship and politics, which is that the establishment of court and the introduction of jury has its own political influence. On the other hand, when the jury cannot achieve the same opinions, the kinship will be considered as an important factor as Apollo had mentionedShow MoreRelatedFamily As A Social Institution Of People927 Words   |  4 Pagesgreat life and happiness that come with it . Using this ideal description as a standard, we all admire and wish to live in such family while in reality it does not exist since all family are under strong variety of affect (economy , social, religion, politic...) this create a continuous conflict between their members making the real family structure very far from what we consider ideal. 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