Implications of Gambling Industry on UK Business Environment Essay Example for Free

Implications of Gambling Industry on UK Business Environment Essay Gambling opportunities have sharply increased all over the UK in a short period of a couple of years. It has been transforming into a socially acceptable means of entertainment due to the increasing leniency in laws regarding gambling. Gambling has been made available in all areas of the city and special facilities have opened for this purpose. Betting offices, clubs, and casinos are just a few examples of such places. â€Å"Gambling is playing games involving chance or placing bets in the hope or expectation of winning money. Gambling takes many forms, from buying lottery tickets in a raffle to playing the football pools or betting on the Grand National to table gaming in casinos. † (Basic facts about the British Gambling Industry, pg. 2) Developments in science and technology have open new gates for gamblers on a global scale. Nowadays, gamblers can take advantage of online gambling facilities to indulge themselves in these activities without leaving their houses just by using their credit cards. The government has further opened opportunities to gamble on telephones if you have activated an account with a bookmaker. According to a report prepared by KPMG, the total amount betted on gambling activities in Britain in the year 1998 reached 42,121 million pounds. The amount spent in casinos was the topmost which calculated up to 18,547 million pounds. A Brief History of Gambling in Britain â€Å"The high point of gambling in Britain is considered to be a period of aristocratic excess in the late 18th and early 19th centuries. Upper-class gaming was characterized by deep play (defined by the philosopher Jeremy Bentham as gambling for stakes so high that it becomes irrational) and crazy, eccentric wagers, such as the one apparently struck by the northern baron who bet he could make it to Lapland and back within an allotted time, accompanied by two reindeer and two native females. He won his bet. † (Atherton, pg. 28+) The Gaming Act of 1845 declared the games of chance as illegitimate. For a long period of time until 1960, gambling carried on inside the UK as an illegal business. It was in 1960 that the government took a major step in the legalization of this industry. Hence, the betting and gaming Act of 1960 was introduced for this legalization process. The Betting and Gaming Act of 1960 altered the previous laws and paved the way for the development of gambling outlets especially casinos all over the UK. Since this was the first time that gambling was permitted in the UK, the government did not take necessary precautions to control the side effects that are associated with gambling activities. This was the major cause of the rise in crimes in Britain at that time since criminals found these new legalized gambling outlets and casinos as a good place to strengthen their footholds. Moreover, loans and losses in gambling gave birth to new criminals as addicted gamblers adopted thefts, burglaries, and other money-making crimes to fulfill their gambling compulsions. As time passed, lawmakers realized the need for a new act that would focus on these issues that have risen after the legalization of gambling. Therefore, the Gaming Act of 1968 was brought in to impose certain restrictions on the gambling industry. With the introduction of the Gaming Act of 1968, the Gaming Board was seriously planning to put a ban on Roulette but they succumbed to the demands of the gambling industry. (http://www. hca. heacademy. ac. uk/resources/TDG/reports/gaming-example-wolfe. ppt) The launching of the National Lottery and the increasing trend in online gambling during the 1990s led to the revision of betting duty by the British government. Afterwards, the government decreased the taxation on betting activities by a considerable amount. General Betting Duty (GBD), a particular type of tax on betting activities that was charged on the percentage of stakes has been replaced by another one, known as Gross Profits Tax (GPT). This new type of tax is charged on the net profits that a bookmaker makes. They also decided to replace the current general betting duty (GBD), levied as a proportion of betting stakes, with a gross profits tax (GPT), based on the net revenue of bookmakers. (Paton, et. Al, pg. F296)

Quality of the Sustainability Report of British Land

Quality of the Sustainability Report of British Land The British Land Company is a brand of property development and investment company, which is one of largest companies in the  United Kingdom. It focuses on managing, financing and developing prime commercial property. British Land was formed in 1856. Over the years, company has purchased land and then resold it to customers who wanted to buy it. Nowadays, British Land owns a lean team of 242 people which is based in the UK and Western Europe. The company manages more or less  £14 billion portfolio of office and retail properties. Moreover, company is listed on the  London Stock Exchange  and is a constituent of the  FTSE 100 Index  and has been a founding member of the  European Public Real Estate Association. Their objective is to deliver long-term and sustainable total returns to our shareholders As a company, British Land committed to achieve corporate social responsibility objectives by working hard to ensure that structure, customer propositions and investment programmes are sustainable in society, economic and environment. These activities from April 2013 to March 2014 were described in Corporate Responsibility Full Data Report 2014. As such, the quality of sustainability report will be analysed in the following. The quality of corporate responsibility report 2014 of British Land can be evaluated based on principles of guidelines published by Global Reporting Initiative (GRI).The GRI lists six principles to assess sustainability report which is of sufficient quality. They are balance, comparability, accuracy, timeliness, clarity and reliability.Six principles will be defined first and then look at information from British Land’s report and then evaluate quality of these principles in practice. Balance To produce a high quality sustainability report, not only it represents the true performance of an organisation, but also endless positive public relations. Balanced report means reflect positive and negative aspects of the organization’s performance to enable a reasoned assessment of overall performance. X A good way to demonstrate balanced reporting is to clearly state how the organization performed regarding measurable achievements set in the previous year.Stakeholders can review those successful targets or if more work.In the corporate responsibility report 2014, British Land reported progress against its three years strategy across all sustainability areas of the business. As we can see, company reported that they had successfully reduced 36% less carbon emissions than the 2009 baseline in the report. Additionally, British Land has saved  £6.9 million energy cost for occupiers since 2009 and achieved 93% of waste diverted from landfill at our properties and 83% on development. X Overall, they got improvement against 2009 and achieved lots of targets in different areas including economic, environment and social. Although British Land has met the greater of their targets in different areas, stakeholders can find out that British Land’s report put negative things about their performance. Take greenhouse gas emissions as an example, the production process discharged6,953 tonnes CO2e during 2014 which was 300 tonnes higher than the previous year. It was balanced that the report discloses both favorable and unfavorable information and results on a year-to-year basis. This style of report increased transparency and accountability towards stakeholders or other parties. Comparability Issues and information should be selected, compiled, and reported consistently. X This principle means that reported information should be presented in a consistent manner that enables stakeholders to analyse the performance of the organisation over time or against other organisations. First of all, the sustainability report and the information contained within can be compared on a year-to-year basis. It showed that the data of British Land from 2011 to 2014. Stakeholders can compare the performance with different years so as to make decisions. Moreover, British Land increased comparability by means of using the same benchmarks to analyse performance year on year. Take tons of waste as an example, company used these total numbers as well as ratios (waste per unit of production) for analytical comparison. Also, company used kWh as metrics to compare its carbon emissions relate to energy consumption with different years or other organisations. Additionally, company provided and explained different factors in the report such as differences in organizational size, geographic influences, and other limitations that may affect the relative performance of an organization. These will help stakeholders understand the factors that may contribute to differences in performance between organizations. Furthermore, the report used generally accepted protocols for compiling, measuring, and presenting information. The report has utilized where the GRI Technical Protocol is explicit on the metric to be used for an Indicator such as carbon footprint, days per employee, staff covered and waste, etc. If any metrics were not mentioned by the GRI, British Land used metrics that are generally adopted by other organisations in their industry. Business in the Community has coordinated the corporate responsibility (CR) index as the UK’s leading benchmarking tool for responsible business. X Accuracy The information contained must be highly accurateso as to produce a high quality sustainability report. Therefore, stakeholders can measure the performance of an organisation with confidence. Data accuracy requires building stringent and robust data collection processes, such as internal quality assurance procedures. The best way to ensure data quality is to have quality assurance built into the data collection process. In the sustainability report 2014 of British Land, there was enough information about process to assure the data collection. The company had Independent assurance which evaluated the design of the key structures, systems, processes and controls for managing recording and reporting the selected information. X For example, five data sites which was selected on the basis of their inherent risk and materiality to the group were visited to understand the key processes and controls for reporting site performance data to the group corporate responsibility team. An alternative way is to commission an external third party to verify or assure data accuracy. The third party is experienced in sustainability reporting and data. In the report, it showed that selected key performance data was assured by PricewaterhouseCoopers LLP (PwC) which is one of big accounting firms over the world. For example, the accounting firm assured that data of carbon strategy was accurate, reliable and objective with no significant omissions that could affect stakeholders to make decision on British Land’s performance. X Finally, British Land has invited wider stakeholders to review their data collection processes and to provide feedback if any data inaccuracies have occurred. In 2014, stakeholders participated in the review and consultation of the different legislative and consumer aspects. Timeliness If a sustainability report to be useful to stakeholders, it should clearly state the time period covered by the data and to be consistent. Based on a regular timetable, the release date of the sustainability report should be predicted whether it is annual or biannual. Therefore, stakeholders can assess progress and make informed decisions on the organization’s performance. British Land has been reporting year on year on its sustainability performance since 2002. The company has accumulated many sustainability reports, which can all be downloaded and are available in multiple languages. The sustainability reports are published in April of every year, which makes it predictable to stakeholders and allows them to integrate British Land into their decision making process in a timely manner. Clarity According to the GRI, a high quality sustainability report should be written in a manner that is easily understandable, accessible and usable to its range of stakeholders. British Land used lots of visual charts, pictures, tables, infographic, diagrams and other aids tomake its content accessible and information easilyunderstandable. The company increased the attractiveness by using of its report by providing several formats such as on the web, as a PDF report or ebook. However, British Land is a property developmentand investment companies. As such, there are a series of professional terms such that need to be illustrated in its sustainability report. British Land has not published a useful glossary of professional terms. They can create on its sustainabilitywebsites for some references so as to makes its sustainability report easily understandable to its stakeholders, Reliability To producea high quality sustainability report, the information and contents disclosed can be traced to its sources, checked and examined by stakeholders or other parties. Stakeholders should be able to find evidence to establish the veracity in the sustainability report. British Land elected PwC as an independent 3rd party assurer to assess their sustainability report. However, PwC made a conclusion that they planned and performed the engagement to obtain limited assurance about whether the selected information is free from material misstatement, whether due to fraud or error. Also, PwC concluded British Land’s declared GRI application level of B+ was not fairly stated in accordance with the reporting criteria. To increase reliability, PwC did not get enough reference of all original sources of data and information used in the report. They just provided a guidance section giving information behind calculations used by the company. The reliability of this sustainability report was not sufficient. Although another big accounting firm KPMG produced anindependent assurance report, minor recommended updates were made to the British Land’s procedures in relation to the risk of bribery and corruption in December 2013. British Land did not get audit opinion that increased stakeholder confidence that the data and assertions in thesustainabilityreport can be relied on to make informed decisions. Conclusion To conclude, the quality the of sustainability report 2014 of British Land is up to standard. Especially for comparability and clarity, the report showed that information and comparisons are both meaningful overtime and it clearly explained the reasons and implications of collected information through visual charts, pictures, tables. However, there’s stillroom for improvement in the report. The Directors of the British Land engaged PwC provided limited assurance on the information described in full data report for the year ended 31 March 2014. To increase reliability and accuracy of the report, company can invite NGOs to review their data collection processes and to provide comments where they think data inaccuracies have occurred. Having more assurances increase stakeholder confidence that the data and assertions in sustainabilityreport can be relied on to make decisions. Furthermore, company can provide other popular formats such as software application in order to increase the attractiveness and use of its report. The sustainability reports as mobile apps can be published that are readable on smartphone and tablets. Stakeholders or businesses can increasingly incorporate tablets into day to day activities such as meetings and sustainability reporting apps must beubiquitous. The advantages of these apps over traditional formats are its highly interactive nature, the ability to easily review the report through buttons, and its visual beauty.

Physics of Avalanches :: physics snow avalanche

Avalanches are just one of many natural disasters that kill people every year. The difference to Alaskans is that this disaster hits a little closer to home than most. The fear of hurricane and tornado are not existent in my region, and even earthquakes are seen more as a little shake then any threat. Physics plays a huge part in avalanches, thermodynamics, statics, and gravity are just a few elements of these disasters. The map above confirms that Alaska is at high risk for avalanche. As a result of this threat, learning about avalanches is a necessity when recreating or working in high avalanche areas. In order to better understand Avalanches, it makes sense to first learn about what avalanches are compose of, snow. Snow forms when atmospheric conditions cause water vapor to condense. However, it is obvious that all snow doesn't have the same structure. The density of fresh snowfall is dependent on both the kind of snow crystal and the air temperature. In cold, calm conditions the snowfall is the lightest. While in warmer climates, where graupel and needle crystals fall, the snowfall is the densest. When looking at a cross section of snowfall it is often evident what weather conditions formed the cross section. This is due to the different densities and structures of the snow layers. The bonds between snow layers are large factor in avalanches. If there is a weak bond between layers, the top layer can easily slide off the bottom layer. When this happens it is called a slab avalanche. Other layering characteristic will create other avalanches and hazards, such as ice avalanches and cornices. Whenever traveling in avalanche country it is important to be aware of your environment. Steep gullies and wide plains are perfect paths for avalanches. Ridges and unconformities in the terrain may help to slow down an avalanches speed. The severity of an avalanche is directly related to the terrain in which it happens. One of the most important factors to consider is the slope of the mountain or hill. Most avalanches occur between 20 and 50 degrees like the diagram above shows. However, the largest avalanches occur between 30 and 45 degrees, and the areas which have the greatest frequency of avalanches are between 35 and 40 degrees.

Caught by a Computer :: Personal Narrative Cheating Papers

Caught by a Computer As I sat in his office, sweat dripped off my long brown bangs onto my light blue collared button-down shirt. It was not because I was nervous, it was because it was the end of April and unseasonably warm in Charlottesville, Virginia. I was there, in my professor’s office, in my mind, because he wanted to get caught up with me about my future plans after graduation. He was curious about my plans for the summer, plans for my fiancà © and I, and plans for my career as a high school teacher at the public school in my hometown, Mclean, Virginia. I was alone in his office, waiting for Dr. Bloomfield to show up to his office for our casual meeting scheduled for 3:30 that afternoon. The heat was becoming unbearable. The University of Virginia’s century old buildings on the quad were not air conditioned, and I was beginning to wish that I had paid the extra tuition to have them installed. I sat in his small dimly lit office, becoming impatient because it was nearing four oà ¢â‚¬â„¢clock. I began to notice the pictures that cluttered Dr. Bloomfield’s overrun office. Pictures of his wife, his twin daughters, who appeared to be roughly the same age as I, and his younger son, in his early teen years, sat atop stacks of periodicals and yet to be graded finals. I noticed my final research paper on the top of the stack. This seemed odd; however I guessed he only wanted to discuss it while we met, as foreclosure to the popular Intro. To Physics class for upperclassmen of his that I was enrolled in, as it was our final assignment. I was distracted once again by the array of pictures throughout his undeservedly small office. Among these were more pictures of his boat, his bay house on the Chesapeake Bay, and his chocolate lab Mocha, whom I was familiar with at this point due to several stories he shared in class. Dr. Bloomfield was a family man whom I had gained great respect for over the years. My aspirations for what I wanted my life to turn out like ve ry closely replicated his own life. Sitting alone in his office gave me time to think about what I wanted to become, who I wanted to marry, how many kids I wanted to have and so on.

Dial-Up Scripting Command Language :: essays research papers

Table of Contents 1.0 Overview 2.0 Basic Structure of a Script 3.0 Variables 3.1 System Variables 4.0 String Literals 5.0 Expressions 6.0 Comments 7.0 Keywords 8.0 Commands 9.0 Reserved Words 1.0 Overview Many Internet service providers and online services require you to manually enter information, such as your user name and password, to establish a connection. With Scripting support for Dial-Up Networking, you can write a script to automate this process. A script is a text file that contains a series of commands, parameters, and expressions required by your Internet service provider or online service to establish the connection and use the service. You can use any text editor, such as Microsoft Notepad, to create a script file. Once you've created your script file, you can then assign it to a specific Dial-Up Networking connection by running the Dial-Up Scripting Tool. 2.0 Basic Structure of a Script A command is the basic instruction that a script file contains. Some commands require parameters that further define what the command should do. An expression is a combination of operators and arguments that create a result. Expressions can be used as values in any command. Examples of expressions include arithmetic, relational comparisons, and string concatenations. The basic form of a script for Dial-Up Networking follows: ; ; A comment begins with a semi-colon and extends to ; the end of the line. ; proc main ; A script can have any number of variables ; and commands variable declarations command block endproc A script must have a main procedure, specified by the proc keyword, and a matching endproc keyword, indicating the end of the procedure. You must declare variables before you add commands. The first command in the main procedure is executed, and then any subsequent commands are executed in the order they appear in the script. The script ends when the end of the main procedure is reached. 3.0 Variables Scripts may contain variables. Variable names must begin with a letter or an underscore ('_'), and may contain any sequence of upper- or lower-case letters, digits, and underscores. You cannot use a reserved word as a variable name. For more information, see the list of reserved words at the end of this document. You must declare variables before you use them. When you declare a variable, you must also define its type. A variable of a certain type may only contain values of that same type. The following three types of variables are supported: Type Description integer A negative or positive number, such as 7, -12, or 5698. string A series of characters enclosed in double-quotes; for example, "Hello world!" or "Enter password:". Dial-Up Scripting Command Language :: essays research papers Table of Contents 1.0 Overview 2.0 Basic Structure of a Script 3.0 Variables 3.1 System Variables 4.0 String Literals 5.0 Expressions 6.0 Comments 7.0 Keywords 8.0 Commands 9.0 Reserved Words 1.0 Overview Many Internet service providers and online services require you to manually enter information, such as your user name and password, to establish a connection. With Scripting support for Dial-Up Networking, you can write a script to automate this process. A script is a text file that contains a series of commands, parameters, and expressions required by your Internet service provider or online service to establish the connection and use the service. You can use any text editor, such as Microsoft Notepad, to create a script file. Once you've created your script file, you can then assign it to a specific Dial-Up Networking connection by running the Dial-Up Scripting Tool. 2.0 Basic Structure of a Script A command is the basic instruction that a script file contains. Some commands require parameters that further define what the command should do. An expression is a combination of operators and arguments that create a result. Expressions can be used as values in any command. Examples of expressions include arithmetic, relational comparisons, and string concatenations. The basic form of a script for Dial-Up Networking follows: ; ; A comment begins with a semi-colon and extends to ; the end of the line. ; proc main ; A script can have any number of variables ; and commands variable declarations command block endproc A script must have a main procedure, specified by the proc keyword, and a matching endproc keyword, indicating the end of the procedure. You must declare variables before you add commands. The first command in the main procedure is executed, and then any subsequent commands are executed in the order they appear in the script. The script ends when the end of the main procedure is reached. 3.0 Variables Scripts may contain variables. Variable names must begin with a letter or an underscore ('_'), and may contain any sequence of upper- or lower-case letters, digits, and underscores. You cannot use a reserved word as a variable name. For more information, see the list of reserved words at the end of this document. You must declare variables before you use them. When you declare a variable, you must also define its type. A variable of a certain type may only contain values of that same type. The following three types of variables are supported: Type Description integer A negative or positive number, such as 7, -12, or 5698. string A series of characters enclosed in double-quotes; for example, "Hello world!" or "Enter password:".

Mkt 310 Exam 2 Study Guide

MKT 310 : Exam 2 Study Guide BOOK Ch. 5 : International Trade Theory An Overview of Trade Theory: * The Benefits of Trade – Some international trade is beneficial, exchange products you can produce at a low cost for some products you cannot produce at all * Free Trade – The absence of government barriers to the free flow of goods and services between countries. * International trade allows a country to specialize in the manufacture and export of products it can produce most efficiently while importing products that can be produced more efficiently in other countries. Climate and natural resources explain why Ghana exports cocoa, and Saudi Arabia exports oil * Product Life-Cycle Theory – Early in their life cycles, most new products are produced in and exported from the country in which they were developed. As the product becomes accepted internationally, production begins to start in other countries. Thus suggesting that the product may ultimately be exported bac k to the country of its original innovation. New Trade Theory – Theory that sometimes countries specialize in the production and export of particular products not because of underlying differences in factor endowments, but because in certain industries the world market can support only a limited number of firms. Mercantilism: * Mercantilism – Originated in England, An economic philosophy advocating that countries should simultaneously encourage exports and discourage imports. It was in the countries best interest to maintain a trade surplus, to export more than it imported. Also advocated government intervention to achieve a surplus in the balance of trade. Zero-Sum Game – A situation in which an economic gain by one country results in an economic loss by another. The flaw with Mercantilism is that it is viewed as a Zero-Sum Game. * Critics think China is pursuing a neo-mercantilist society, deliberately keeping its currency value low against the U. S. dollar in order to sell more goods to the U. S. , thus creating a surplus and foreign exchange reserves. Absolute Advantage: * Absolute Advantage – A country has an absolute advantage in the production of a product when it is more efficient than any other country in producing it. According to Smith countries should specialize in the production of goods for which they have an absolute advantage and then trade these for goods produced by other countries. (Countries should never produce goods at home that it can buy at a lower cost from other countries. Comparative Advantage: * Comparative Advantage – It makes sense for a country to specialize in the production of those goods that it produces most efficiently and to buy the goods that it produces less efficiently from other countries, even if this means buying goods from other countries that it could produce more efficiently itself. Basic Message of Comparative Trade – Potential world production is greater with unrestricted free trade than it is with restricted free trade. * Immobile Resources – Resources do not always shift easily from on activity to another, some friction is involved. Belief that a country will produce less of some goods but more of others, however not everyone has the skills and knowledge to produce the greater good, thus some people may lose their jobs. * Diminishing Returns – When more units of a resource are required to produce each additional unit.First not all resources are of the same quality, and different goods use resources in different proportions. * Constant Returns to Specialization – The units of resources required to produce a good are assumed to remain constant no matter where one is on a country’s production possibility frontier. * Dynamic Effects and Economic Growth – Opening an economy to trade, might increase a countries stock of resources as increased suppliers of labor and capital from abroad become available for use within th e country, and free trade might increase the efficiency with which a country uses its resources. When a rich country(U. S. ) enters in free trade with a poor country(China) the lower prices that U. S. consumers pay for goods imported from China may not be enough to produce a net gain for the U. S. economy if the dynamic effect of free trade is to lower real wage rates in the U. S. * Evidence for the Link between Trade and Growth – Countries that adopt a more open stance toward international trade enjoy higher growth rates than those that close their economies to trade. Heckscher-Ohlin Theory: Comparative advantage arises from differences in national factor endowment, and by factor endowment they meant the extent to which a country is endowed with such resources as land, labor, and capital.. The Heckscher-Ohlin Theory predicts that countries will export those goods that make intensive use of factors that are locally abundant, while importing goods that make intensive use of fa ctors that are locally scarce. * The Leontief Paradox – Since U. S. was relatively abundant in capital compared to other nations, the U. S. would export capital intensive goods and import labor-intensive ones. However he found that the U.S. exports were less capital intensive than the imports. The Product Life-Cycle Theory: * Most new products were initially produced in the U. S. and sold in the U. S. markets first, the wealth and size of the U. S. can them strong incentives to develop new consumer products. , in addition the high cost of U. S. labor gave U. S. firms an incentive to develop cost-savings process innovations. These expensive goods are only appealing to the wealthy of other nations, thus there isn’t that much overall global interest, so no other countries feel it is necessary to start producing the product as well. New Trade Theory: The ability of firms to attain economies of scale might have important implications for international trade. * Economies of Scale – Unit cost reductions associated with a large scale of output * New Trade Theory makes 2 important points: * 1) Through its impact on economies of scale, trade can increase the variety of goods available to consumers and decrease the average costs of those goods. * 2) In those industries where the output required to attain economies of scale represents a significant proportion of total world demand, the global market may be able to support only a small number of enterprises. First-Mover’s Advantage are the economic and strategic advantages that accrue to early entrants into an industry. The ability to capture scale economies ahead of later entrants, and thus benefit from a lower cost structure, is an important first mover’s advantage. * Implications of New Trade Theory – generates for government intervention and strategic trade policy, a nation may befit from trade even if they do not differ in resource endowments or technology, trade allows a nati on to specialize in the production of certain products—attaining scales of economy and lowering cost.National Competitive Advantage: Porter’s Diamond * Porter theorizes that 4 broad attributes of a nation shape the environment in which local firms compete, and these attributes promote or impede the creation of competitve advantage. These attributes are†¦Ã¢â‚¬ ¦ * Factor Endowments – A nations’ position in factors of production such as skilled labor or the infrastructure necessary to compete in a given industry (Advanced factors are the most significant competitive advantage. ) * Demand Conditions – the nature of home demand for the indutry’s product or service. Relating and Supporting Industries – the presence or absence of supplier industries and related industries that are internationally competitive. * Firm strategy, Structure, and Rivalry – The conditions governing how companies are created, organized, and managed and the nature of domestic rivalry. * He argues that firms are most likely to succeed in nindustries or industry segments where the diamond is most favorable.. The diamond is a mutually reinforcing system – meaning the effect of one attribute is contingent on the state of others. ———————————————— Ch. 6 : The Political Economy of International Trade Instruments of Trade Policy: * Tariffs – A tariff is a tax levied on imports (or exports. ) In most cases tariffs are placed on imports to protect domestic producers from foreign competition by raising the price of imported goods. Tariffs also produce revenue for the government. The government and the domestic producers gain from having tariffs, whereas the consumers lose. * 2 conclusions can be made about tariffs: First, tariffs are pro-producer and anti-consumer.Second, import tariffs reduce the overall efficiency of the world economy. (Tariffs encourage domestic products to be sold at home when they could be more efficiently sold in the global market. ) * Export tariffs raise money for the government, and they reduce exports from a sector, often for political reasons. * 2 Types of Tariffs: * Specific Tariffs – Levied as a fixed charge for each unit of a good imported (ex. $3 per barrel of oil) * Ad Valorem Tariffs – Levied as a proportion of the value of imported goods. Subsidies – A subsidy is a government payment to a domestic producer. By lowering production costs, subsidies help domestic producers in 2 ways: 1) competing against foreign imports and 2) gaining export markets. * Agriculture is the largest beneficiary of subsidies. * Non-Agriculture subsidy ex. Money given to Boeing and Airbus * The main gains from subsidies accrue to domestic producers, whose international competiveness is increased as a result. * Subsidies protect the inefficient and promote excess prod uction. Import Quotas and Voluntary Export Restraints – An import quota is a direct restriction on the quantity of some good that may be imported into a country * Tariff Rate Quota – The process of applying a lower tariff rate to imports within the quota than those over the quota. * Voluntary Export Restraint – A quota on trade imposed by the exporting country, typically at the request of the importing country’s government. Ex. Limitation on auto exports to the U. S. enforced by the Japanese automobile producers. * Quota Rent – The extra profit producers make when supply is artificially limited by an import quota. Local Content Requirements – A requirement that some specific fraction of a good be produced domestically. Ex. Buy America Act specifies that government agencies must give preference to American products when putting contracts for equipment out to bid unless the foreign products have a significant price advantage. * Administrative Policies * Administrative Trade Policies – Bureaucratic rules designed to make it difficult for imports to enter a country, as it has been argues that the Japanese are masters of this trade barrier. * Antidumping Policies Dumping – Selling goods in a foreign market at below their costs of production or below their â€Å"free† market value. Ex. 2 South Korean manufacturers of semiconductors were accused of selling microchips in the U. S. market at below their cost of production. * Anti-Dumping Policies – Policies designed to punish foreign firms that engage in dumping and thus protect domestic producers from unfair foreign competition. * Countervailing Duties – Antidumping duties. Political Arguments for Intervention: * Protecting Jobs and Industries – Tariffs placed on steel in 2002 by G.W. Bush were supposed to do this. * National Security – Protect the area of technological advancement, and the defense industries. * Retaliation â₠¬â€œ Use threat to intervene in trade policy as a bargaining tool to help open foreign markets and force trading partners to â€Å"play by the rules. † Ex. U. S. has used threat of punitive trade sanctions to try and get the Chinese government to enforce its intellectual property laws – China cost Microsoft hundreds of millions of dollars per year in lost sales revenues. * Protecting Consumers – Ex.Many countries decided to ban imports of American beef after one case of Mad Cow Disease was found. * Furthering Foreign Policies Objectives – Governments sometimes use trade policy to further support their foreign policy objectives. * Helms-Burton Act – This act allows American to sue foreign firms that use property in Cuba confiscated from them after the 1959 revolution. * DAmato Act – Act passed in 1996, similar to the Helms-Burton Act, but this one is aimed at Libya and Iran. * Protecting Human Rights – Ex.Debate over many years on whet her to grant the â€Å"Most Favorable Nation† to China — this is controversial bc many think China doesn’t regard human rights per the Tiananmen Square Massacre. * Protecting the Environment – Strong relation between income levels and environmental pollution/degradation. Ex. Carbon Emissions Tariff, etc. Economic Arguments for Intervention: * The Infant Industry Argument – New industries in developing countries must be temporarily protected from international competition to help them reach a position where they can compete on world markets with the firms of developed nations. Skepticism because protection of manufacturing from foreign competition does no good unless the protection helps make the industry efficient. Second, the infant industry argument relies on an assumption that firms are unable to make efficient long term investments by borrowing money from the domestic or international capital market. * Strategic Trade Policy – A Governme nt policy aimed at improving the competitive position of a domestic industry or domestic firm in the world market. It is argued that by appropriate actions, a government can help raise national income if it can somehow ensure that the firm(s) that gain first-movers advantage within an industry are domestic rather than foreign enterprises. * The second component of the strategic trade policy is that it might pay a government to intervene in an industry by helping domestic firms overcome the barriers to entry created by foreign firms that have already reaped the benefits of first-movers advantage. Development of the World Trading System , GATT, WTO: (Look in PPT slides for this info. )

Translator As My Dream Job Essay

Ever since I began studying English, I have always wanted to become a translator, translating Chinese into English so that people in other countries can enjoy Chinese poems and stories. Becoming a translator isn’t easy. It takes great patience and perseverance/ (Needless to say heartfelt effort and willing persistence is absolutely needed./ It is a step by step progress that involves confidence, patience and hard work.) Firstly, as a middle school student, I must improve my reading comprehension in both languages so that I can choose the appropriate words when I am translating something. Secondly, in order to become good enough to be a translator, I must learn and use effective learning strategies. I’m still only a middle school student, so I have a long way to go. I hope that I will be able to go to college and become a real translator some day. Ã¥  ¦Ã¤ ¸â‚¬Ã§ ¯â€¡Ã¯ ¼Å¡My dream is to become a successful doctor, helping those sick people and saving their lives. I hope everyone can have an opportunity to receive excellent treatments for their illnesses without having to pay much or just enjoy them free. Of course, I know to achieve my dream , there is a long way to go. I need enough knowledge and experience, so working hard in school will promote me to be a professional doctor. Now everything I do is close to my dream. I feel life is filled with hope and is colorful, and I have enough confidence to realize my dream. Beginning: My dream is to become a __________, +V-ing. ââ€"†My dream is to become a kindergarten teacher, teaching, talking and playing with my dear children. ââ€"†My dream is to become a professional photographer, showing people a different point of view and helping them find a new world in a single photo. Reason: There are several reasons. ââ€"†a kindergarten teacher –I can be myself by opening up my heart, wearing a sincere smile and maintaining a young, optimistic and energetic attitude to life. What’s more, I want to try to ensure that our children experience a memorable childhood by playing musical instruments, painting, singing, swimming and etc. The most important of all, I plan to create a good  circumstance in the kindergarten that every kid can seek out their own hobbies and have an interesting childhood to remember. How: Of course, I know to achieve my dream , there is a long way to go. ââ€"†To reach my dream I will take photography classes in summer and take a photography course in school. The only way to realize my dream is just do it! have enough confidence in yourself Ending: Once I become a doctor, the world is waiting for me to make a difference. With my persistent passion and endeavor, I am sure that I can climb over this mountain, no matter how high or tough it is. My enthusiasm and persistence can motivate me to pursue my dream. Now it’s the time! I always feel fortunate that I got through an unforgettable childhood, for I was never forced to learn what I was reluctant to learn and for I had the opportunity to go to various parks almost every week, going close to nature or making greetings to animals and plants.