Sex, Prostitution, And The Production Of Sex Toys Essay

Sex work, consisting of prostitution and the production of sex toys, has been implemented in the United States since the 18th century. Through red-light districts, street prostitution, escort or out-call prostitution, brothel prostitution, and child prostitution, prostitution still thrives in the United States despite legality. Sex toys has become increasingly more available on shelves but still primarily stay in the e-commerce realm. Sex work has struggled to stay in the United States because of legal issues, however, sex work is still and will always be implemented in the United States. From the 18th century to modern day, prostitution has found a way to serve purpose within the United States. In the 18th century, women in the American Revolution served as prostitutes to the Continental Army. Soldiers and officers paid these women for sexual favors. The army leadership had a love hate relationship with the idea of prostitution. They hated prostitution because of the increase d risk of the spread of venereal diseases. Some, however, wanted prostitution to stay in order to lift the spirits of the soldiers (Nickels 2013). In the 19th century, parlor house brothels became popular for the upper class while bawdy houses became popular for the lower classes. Concert halls were created during this time so that men could relax, listen to music, eat, bet on fights, and pay prostitutes. The vagrancy laws kelp prostitution illegal even though it was not well-enforced by lawShow MoreRelatedSex Tourism Essay4993 Words   |  20 Pagesthe recent years Sex tourism is the most attracting and increasing sector in terms of tourism studies. There are increased research, paper work, books, articles and several magazines released in the market related to sex tourism. Today there are many forces at work in the normalization of the international sex industry (Jeffeys, 1997). As sex industry has immensely became most profitable. 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The Zoetrope was later adapted by E adwaerd Muybridge into the Zoopraxinoscope in 1878Read MoreVirtual Reality Essay2284 Words   |  10 Pagesand marketing, and manufacturing and training (Ravenhill 65). One of the front runners advocating the use of the technology is the automobile industry. Ford and General Motors utilize this technology to aid in the design, the engineering, and the production of cars. Before a car is produced, Ford has to hire engineers to design the cars and technicians to test the cars for safety. Here, virtual reality lends a helping hand. Using virtual reality to test car designs for safety cuts down on the costsRead More Human Sexuality: God Created Woman for Man Essay2430 Words   |  10 PagesMarriage is designed to be sacred between men and women. Relationships were supposedly designed for men and women. Relationships that are between men and women are heterosexual relationships. 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On the other hand, the men in Cleland’s novel present the reader with a range of physical traits, class positions, and identities; I argue that the figure of the standardized prostitute serves to mediate between theseRead MoreStatus of Women in Contemporary Indian Society3990 Words   |  16 Pagesposition of women in modern India has changed co nsiderably. Her position in modern Indian society is equal to that of men, socially, economically, educationally, politically legally. Her sufferings from Sati, Child marriage, Institution of Temple prostitution no longer exist. Now, she has the right to receive education, inherit own property, participate  in public life political life of  the nation. She has become economically independent. 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Elizabethan society created impossible expectations for women, considered to be the weaker sex, exploited, and in need of protection. With no exception to this expectation, Ophelia is mistreated, scorned and ultimately shamed by the men in her life. Ophelia is the most innocent victim of Hamlet’s revenge in Shakespeare’s play â€Å"Hamlet†. Overwhelmed

Theory Of Evolution By Natural Selection - 896 Words

Summary Theory of Evolution by Natural Selection. According to history, Charles Darwin is the first scientist to frame the theory of evolution by natural selection. It was publish in his book title On the Origin of Species 1859†. Darwin express the theory of evolution by natural selection as a process by which species change over a period of time. This change take place because of the changes in genetic and behavioral traits. The ability of the organisms to change over time or adjust to fit environmental factors is due to the ancestral trait. The evolutional theory was supported by great body of evidence from various scientific disciplines. Natural selection is the main fundamental tool used in the theory of evolutional change. Natural selection in evolutional theory is the process responsible for the evolution of adaptive behaviors. Without the knowledge of natural selection in evolution, it will be very difficult to understand how organism display their diversity and their tough behavior to adapt and survive in an environment. The theory of evolution by natural selection has two main points: ïÆ'Ëœ All life on Earth are connected and are related to each other, and this variety of life is said to be a product of changes of species by natural selection in which some traits are favored by environment factors over other species. ïÆ'Ëœ Natural selection depends on the ability of an organism to attract a mate. An example of this process is the peacock’s colorful fluff and a male deerShow MoreRelatedThe Theory Of Evolution By Natural Selection1329 Words   |  6 PagesThe theory of evolution by natural selection proposes that all species are related (Eade, S. and profile, V. 2014). There is estimated to be between 6 million and 100 million different species in the world, with more species undiscovered than those discovered; this is all owing to the concept of evolution (Borenstein, S. 2014). Evolution is defined as the â€Å"change in the characteristics of a species over many generations (Linstead, 2012).† The most widely accepted theory of evolution is natural selectionRead MoreNatural Selection And The Theory Of Evolution1536 Words   |  7 PagesNatural selection and The Theory of Evolution were just two of the things that Charles Darwin conquered through the exploration of The Galapagos I sland. Darwin was born on February 12, 1809, in Shrewsbury, England. While Darwin was still in high school, his main interest was nature, he was especially interested in beetles. Darwin’s father, Robert Darwin, who was best known as the father of the naturalist Charles Darwin, wanted Charles to become a doctor. Due to lack on interest in the medicine fieldRead MoreThe Theory Of Evolution By Natural Selection965 Words   |  4 Pages The beginning of life on earth was always thought out as Gods creation and evolution was just a mystery in itself. Many people have always been interested in their origins and have found explanations using evidence that validates the story, but where is the proof? In 1859 a man by the name of Charles Darwin wrote a novel called the Origin of Species basically expressing the theory of evolution by natural selection. An extremely complicated story, but a very effective explanation of life as weRead MoreThe Theory Of Evolution By Natural Selection1027 Wo rds   |  5 PagesPart A: Evolution of Polar Bears Introduction The theory of evolution by natural selection (Darwinism), first formulated in Darwin s book On the Origin of Species in 1859, is the process by which organisms change over time as a result of changes in heritable physical or behavioural traits. Changes that allow an organism to better adapt to its environment will help it survive and that have more offspring. The first three ideas were already under discussion among earlier and contemporaneous naturalistsRead MoreThe Theory Of Evolution By Natural Selection1726 Words   |  7 PagesDiscussing Darwinian and Modern Evidence in Support to The Theory of Evolution by Natural selection Evolution is the gradual development of life on Earth. It is responsible for the unusual carnivorous plants (species such as Dionaea muscipula), the beautiful coloured plume of the male peacock, even the possibility of cells adapting to protect against continual low exposure to radiation (Russo, GL. et al 2012). Without it, the lavish diversity of organic life we interact with every day would be non-existentRead MoreThe Theory Of Evolution By Natural Selection926 Words   |  4 Pages Charles Darwin was the creator of Darwinism which is, â€Å"the theory of evolution by natural selection† (Junker 1). In school we are often taught that natural selection is survival of the fittest or the strongest wins. What seems to be a simple topic is actually one of the leading theories on the side of evolution in the highly controversial debate on Darwinism vs. Creationism. Darwinism states that certain genes in a population change through individuals. These â€Å"strong† genes are then produced moreRead MoreThe Theory Of Evolution By Natural Selection1692 Words   |  7 PagesDarwinian Theory of Evolution by Natural Selection Background information Even though evolution is an ancient concept, Charles Darwin brought up a new idea focusing on naturalistic modification of a population over time. He believed that species differ over time and space. In other words, after a period of time creatures undergo genetic mutations in their genetic code in which the beneficial mutations are preserved and the disadvantage mutations are eliminated. This concept he termed as natural selectionRead MoreThe Theory Of Evolution By Natural Selection Essay1774 Words   |  8 Pagesinvariance and stability. Darwinism rejects all supernatural phenomena and causations. The theory of evolution by natural selection explains the adaptedness and diversity of the world solely materialistically. It no longer requires God as the creator or designer .Darwin pointed out that creation, as described in the bible and the origin accounts of other cultures, was contradicted by almost any aspect of the natural world. Randolph M. Nesse George C. Williams. Mayr believed that Lamarck did not holdRead MoreThe Theory Of Evolution By Natural Selection1692 Words   |  7 PagesDarwinian Theory of Evolution by Natural Selection Background information Even though evolution is an ancient concept, Charles Darwin brought up a new idea focusing on naturalistic modification of a population over time. He believed that species differ over time and space. In other words, after a period of time creatures undergo genetic mutations in their genetic code in which the beneficial mutations are preserved and the disadvantage mutations are eliminated. This concept he termed as natural selectionRead MoreThe Theory Of Evolution By Natural Selection1486 Words   |  6 Pagesexplain the evolution of the word, where you may or may not find altruistic behaviours and most importantly it’s like to evolutionary theory. Evolutionary theory was developed by Charles Darwin and documented in his book ‘On the Origin of Species’ (1859). In it’s most simplistic terms it explains how and why animals, including humans, have changed and evolved over time to become the way they are. One of his more well known and supported theories illustrated in his book is the theory of evolution by natural

Josephine Baker Biography Free Essays

Josephine Baker was an American singer, dancer, and actress who rose to fame in France during the Harlem Renaissance: â€Å"a literary and intellectual flowering that fostered a new black cultural identity in the 1920s and 1930s†(Rowen). Josephine Baker was the first African American female to star in a movie, the only woman to speak during the March on Washington alongside of Martin Luther King Jr. , and the first black international pop icon (Lewis). We will write a custom essay sample on Josephine Baker Biography or any similar topic only for you Order Now Jo Baker is best known for, her â€Å"jungle banana dance†, where she danced naked except for a string of bananas tied around her waist. Born Freda Josephine McDonald, even though they were eventually divorced, Josephine Baker decided to keep the last name of her second husband, Willie Baker. Josephine ran away from home at the age of 13 to pursue her dream of being a famous dancer-singer but didn’t get her big break until she was discovered by director Folies Bergere in Paris. (Lewis) In 1951 at The Stork Club, New York City’s most extravagant night club at the time, Josephine was denied service because she was black (Lewis). That was the first time racial inequality directly impacted her. Josephine responded by refusing to entertain in clubs that did not allow blacks, in which several clubs responded with integration. She â€Å"crusaded for racial equality† again in 1963 when she spoke alongside of Martin Luther King Jr. during the March on Washington: the largest political rally for African American rights in United States history. Throughout the rest of her life, Josephine did many other things in protest of racial inequality, the most famous being her adoption of 12 multi-ethnic orphans (Gaines). Some say that Josephine started the trend of celebrities (ex: Angelina Jolie, Sandra Bullock, Steven Spielberg, Tom Cruise, and Hugh Jackman) adopting multi-ethnic orphans. Josephine has influenced the works of many modern day entertainers. Singer-songwriter Beyonce has given Josephine credit for being the inspiration of many of her performances throughout her career, including her re-make of Josephine’s famous banana dance for a performance of her song Deja Vu in 2006 (Gorgan). And in 2010, RB recording artist Keri Hilson portrayed Josephine in her single â€Å"Pretty Girl Rock†. (MacKenzie) Works Cited Rowen, Beth. â€Å"The Great Days in Harlem†. Infoplease. Pearson Education. N. D. Web, 19 Dec. 2011. Lewis, Jone Johnson. â€Å"Josephine Baker†. About. com. About. com. N. D. Web, 19 Dec. 2011. Gaines, Steven. â€Å"Hungry Heart†. New York Magazine. New York Media LLC. 10 Apr. 2009. Web, 19 Dec. 2011. MacKenzie, Carina Adly. â€Å"Who is Josephine Baker? Meet the Legend who Inspired Keri Hilson’s ‘Pretty Girl Rock’†. Zap2it. Tribune Media Services. 21 Nov. 2010. Web, 19 Dec. 2011. Gorgan, Elena. â€Å"Going Bananas for Beyonce! †. SoftPedia. SoftNews Net SRL. 11 Sept. 2006. Web, 19 Dec. 2011. Criner, Lowe. â€Å"Josephinw Baker†. Plaza. Plaza Edu. N. D. Web, 19 Dec. 2011. â€Å"Josephine Baker – Breezin’ Along With the Breeze†. Youtube. Youtube. 7 Aug 2010. Web, 19 Dec. 2011. â€Å"Josephine Baker – Breezin’ Along With the Breeze Lyrics†. ST Lyrics. STLyrics. com. N. D. Web, 19 Dec. 2011. How to cite Josephine Baker Biography, Papers

Financial Analysis of Greene King Plc And Mitchells And Butlers Plc

Question: Describe about the Performance of Greene King plc and Mitchells and Butlers Plc? Answer: Introduction: This assignment has discussed some tools of finance and accounts in order to analyze and investigate the financial performance of Greene King. This assignment also dealt with the non financial performance of the company. This company has grabbed the leading position within the pub and brewing industry of United Kingdom. This company has achieved an extra ordinary sale in 200 years of its operation. Greene King has operated more than 1900 pubs, restaurants and hotels in the market. This company has taken the technique of innovation within the process of operating business. Business objective of this company is to provide effective value to its customers by providing prolonged service. Rate of dividend of this company has been grown in the year of 2014. On the other hand, the revenue of this company has also been increased by 8.9 % in 2014. The year 2014 is one of the most successful years of the Greene King. In order to investigate the financial performance of Greene King Plc the author has taken another company among same industry, named Mitchells and Butlers Plc. This company also runs 1700 restaurants in U.K. Vision and objective of This Company is to provide various opportunities in service those will satisfy the actual needs and demands of the guests of those restaurants. Its main aim is to increase the value of shareholders of the company. Mitchells and Butlers Plc has got hold of 173 pubs in the year of 2014. This company has 4300 employees. This hotel and restaurant industry is highly competitive within U.K. Therefore, every company needs to do effective operation in order to attract customers within the competitive sector of market. 1.1. Performance of Greene King plc and Mitchells and Butlers Plc: In order to investigate the performance of Greene King plc author has done a SWOT analysis in order to know the strengths, weaknesses, opportunities and threats of the company while operating business within the competitive sector of market. Strengths Product of this company is highly effective among the customers It is very popular within the U.K market as it has operated its business operation by 200 years Balance sheet of this company is strong It pays high dividends to its shareholders or investors Weakness The service and product of this company are monotonous as it has no diversification Opportunities It has obtained a high rate of growth People of United Kingdom often try food from outside therefore restaurant and pub business therefore has been increased a lot Threats Market sector of restaurants is highly competitive in U.K Greene King plc often faces immense competition and rivalry from other organization Figure 1: SWOT analysis of Greene King Plc Strengths Mitchells and Butlers Plc has increased its financial performance This company also has a strong rate of share within the market of United Kingdom. It largely operate 1700 restaurants Team management of this hotel is strong and effective Weakness This company has not paid dividends to the share holders This company hardly differentiate products from the services Opportunities Trend of the customers within U.K is influencing Threats Competitive market and rate of rivalry is also high within the market Legislation of Government has posed a threat to this company Figure 2: SWOT analysis of Mitchells and Butlers Plc 1.2. Ratio analysis: 1.2.1. Profitability ratios: Profitability ratios help to analyze and understand the rate of profit of a company. Return on employed capital, return on equity, gross profit margin, operating profit margin, net profit margin are involved in order to analyze the profitability ratio of a company. Therefore, in this ratio analysis, profit of two companies by the year of 2012, 2013, and 2014 has been analyzed. Profitability Ratios 2014 2013 2012 Return on capital employed Net Operating Income/ ( Total Assets - Current liabilities) 7.01% 8.02% 7.38% Return on Equity Net Income / Equity 9.04% 9.82% 10.83% Net Profit Percentage Net Income / Net Sales 7.38% 7.99% 8.98% Gross Profit Percentage Gross Profit / Net Sales 8.08% 9.29% 10.97% Operating Profit Percentage Operating Income / Net Sales 15.32% 19.18% 18.53% Table 1: Profitability ratio of Greene King Plc Graph 1: Profitability ratio of Greene King Plc 2014 2013 2012 Profitability Ratios Return on capital employed Net Operating Income/ ( Total Assets - Current liabilities) 6.38% 6.94% 5.81% Return on Equity Net Income / Equity 7.85% 10.50% 7.42% Net Profit Percentage Net Income / Net Sales 4.72% 6.75% 3.71% Gross Profit Percentage Gross Profit / Net Sales 6.24% 7.49% 4.39% Operating Profit Percentage Operating Income / Net Sales 13.40% 14.83% 12.28% Table 2: Profitability ratio of Mitchell and Butlers Plc Graph 2: Profitability ratio of Mitchell and Butlers Plc Analysis: Return on Capital Employed: The comparison of return on interest and tax has been calculated by this ratio. In the case of Greene King Plc, the amount of return on capital employed has been increased in the year 2014 than 2012. Therefore, this company has achieved a positive rate of return on capital employed. Rate of profit through investment is high of Greene King Plc. In the year of 2014, this company has gained a lot of profit in order to operate the business activities among the U.K market. In case of Mitchells and Butlers, return on capital employed is also positive. 2012 was the challenging year for this company. However, it has recovered a lot in current years of its operation. Return on Equity: In case of Greene King Plc, rate of return on equity has declined a lot during the year of 2013 to 2014. Therefore, positive return on investment has been received by the equity share holders of the organization. However, high rate of share capital has affected on the return on equity of this company. Therefore, Greene King Plc needs to boost the return on investment in order to meet the needs of operation. In case of Mitchells and Butlers, return on equity has been declined a lot in the year of 2014 than the year of 2012. Increased number of equity share has caused the declining of return of the equity of this particular company. Net profit Percentage: This percentage of Greene King Plc has also been decreased from 2012 to 2014. This company has to pay a compensation of insurance in 2014. For this reason, net profit percentage of this company has declined a lot. On the other hand, Mitchells and Butlers also have to face a decline in the margin of profit from the year of 2014 to 2012. However, high operation cost has also helped this company in the process of increasing net profit margin of the company within the year of 2012 to 2013. Gross profit Percentage: Gross Profit Percentage has also been decreased by the extra pay to the insurance compensation of the Greene King Plc. Gross Profit percentage of Mitchells and Butlers has also been declined from 2012 to 2014. Operating profit Percentage: On the other hand stated that, operating margin ratio helps to measure the percentage of total profit or revenue among the income of operation of the particular company. Operating profit percentage therefore helps to determine the amount of profit after payment and the cost of operation of a company. However, the operating profit percentage of Greene King Plc has decreased from the year of 2014 to 2012. Therefore, operating profit margin has a positive impact on the business operation of the company. In the year of 2014 to 2012, the cost of operation has been increased and has impacted negatively upon the operating profit margin of the company. On the other hand, Mitchells and Butlers have gained a positive margin of operating profit. In the year of 2012 to 2014, the operating profit of this company has been declined due to the cause of high operating cost. However, in the year of 2014 to 2013, operating profit this company has been declined. 1.2.2. Liquidity Ratio: This ratio therefore helps to determine the skill of a company for settling the liabilities of current business operation. As per stated that, in order to determine the liquidity placement of the company, current ratio and quick ratio always help in this particular process. Liquidity Ratios 2014 2013 2012 Current ratio Current Asset/ Current Liabilities 0.797242 0.474571 0.481846154 Quick Ratio Quick Assets / Current Liabilities 0.738007 0.396106 0.391384615 Table 3: Liquidity ratio of Greene King Plc Graph 3: Liquidity ratio of Greene King Plc Liquidity Ratios 2014 2013 2012 Current ratio Current Asset/ Current Liabilities 0.552504 1.089835 0.969838 Quick Ratio Quick Assets / Current Liabilities 0.508885 1.033097 0.909513 Table 4: Liquidity ratio of Mitchell and Butlers Plc Graph 4: Liquidity ratio of Mitchell and Butlers Plc Current ratio: In the year 2014, current ratio of Greene King Plc was 0.797. In 2013, the current ratio was 0.474 and 0.481 for the year 2012. On the other hand, defined that, the perfect ratio should be 2:1. Greene King Plc has strong liquidity position. Therefore, this company is not able to meet the efficient liabilities with its assets. This company therefore uses the inventory with effective techniques. In case of Mitchells and Butlers Plc, current ratio is 0.55 in 2014, 1.089 in 203 and 0.969 in 2012. As per the current ratio shows, the liquidity position of this company is not so effective. Quick ratio: Greene King Plc has positive quick ratio. In 2014, quick ratio of this company was 0.738, 0.396 for 2013 and 0.391 for the year 2012. Proper quick ratio is 1:1. According to the rate of quick ratio, it can be stated that, it cannot effectively manage the current assets. On the other hand, Mitchells and Butlers have a negative quick ratio. This indicates that, this company can manage the current liabilities with the current assets. 1.2.3. Efficiency ratio: This shows the efficiency ratio of two companies. Efficiency ratios 2014 2013 2012 Inventory Turnover Ratio Cost of Goods Sold / Inventory 105.2033 111.0037 125.1034014 Stock Holding Period ( Days) 365/ Inventory Turnover 3.469474 3.288179 2.917586541 Debtor's Payment Period ( Days) Net credit sales / Average Debtors 21.62126 16.16644 16.62390671 16.88153 22.57763 21.95633111 Table 5: Efficiency ratio of Greene King plc Graph 5: Efficiency ratio of Greene King plc Efficiency ratios 2014 2013 2012 Inventory Turnover Ratio Cost of Goods Sold / Inventory 6.777778 8.916667 5.346154 Stock Holding Period ( Days) 365/ Inventory Turnover 53.85246 40.93458 68.27338 Debtor's Payment Period ( Days) Net credit sales / Average Debtors 32.83333 26.31944 33.73214 11.11675 13.86807 10.82054 Table 6: Efficiency ratio of Mitchell and Butlers Plc Graph 6: Efficiency ratio of Mitchell and Butlers Plc Inventory turnover ratio, Stock holding price and Debtors turnover ratio helps to determine the efficient operation of the particular organization. Mitchell and Butlers Plc have increased its inventory turnover. On the other hand, Greene King Plc has a positive efficiency ratio. Inventory ratio turnover ratio is also positive for Greene King Plc. This company can manage inventory with effective as well as efficient process. 1.2.4. Financial Structure: This provides detail analysis of financial structures of two companies. Financial structure 2014 2013 2012 Interest coverage ratio EBIT / Interest Expense 1.112051 0.935919 1.149270483 Price/ Earning ratio Current Share Price / Earnings Per share 18.7871 22.21451 10.92436975 Dividend Yield Dividend per share / Current Share Price 28.40 26.60 24.80 Table 7: Financial structure of Greene King Plc Graph 7: Financial structure of Greene King Plc Financial structure 2014 2013 2012 Interest coverage ratio EBIT / Interest Expense 0.931818 0.505338 0.601449 Price/ Earning ratio Current Share Price / Earnings Per share 18.76106 13.52564 17.82456 Dividend Yield Dividend per share / Current Share Price 0.00% 0.00% 0.00% Table 8: Financial structure of Mitchell and Butlers Plc Graph 8: Financial structure of Mitchell and Butlers Plc Interest coverage ratio, Dividend Yield ratio and Earnings ratio help to determine the financial structure of the particular organization. Greene King Plc has increased the amount of sale in the year of 2014. Ratio of interest coverage is positive. As the profit of the company has been increased a lot, the investors has attracted to this company. On the other hand, Mitchells and Butlers have also increased its margin of profit. This company has also opened some outlets of restaurants and pubs.This process has been resulted in gaining extra advantage from the investors.However, this company does not pay regular dividend to its share holders. However, impact of the company upon the company is positive. 1.3. Cash Flow: As stated by cash flow statement helps to states the flow of cash of the organization. Cash flow projection within the activities of operation, investing and dividend. Therefore, Greene King Plc has opened 1900 bars and restaurants in U.K. It has operated its business operatio by 200 years within U.K. Total cash flow of this company through different activities of operation is 204.3 pound. Increased amount of operating cost has been resulted the decline in net cash flow of the company. In the year 2014, company has increased its investing operation. This company has opened many new restaurants. It has also increased its payment of dividend activity. Therefore, the net cash flow of the organization has also been increased. On the other hand, cash flow statement of Mitchells and Butlers has been increased with the investment process of this company. This company has acquired Dining Limited and Orchid Pubs in order to expand the business activities of the organization. For this reason, this company has expanded a lot and resulted in the increase of profitability of the organization among the competitive market sector. 1.4. Indicators of non-financial performance: There are various types of indicators of the non financial performance of the particular company. 1. Satisfaction of employees: Greene King Plc often provides strong emphasis on building trust among the employees. This company has maintained effective relation among the employees of the organization. This company has maintained a strong value in order to build a strong relation between the employees of the organization. It also maintains an effective operation within the stakeholders of the organization. Relation between external and internal stakeholders is well maintained by the organization. Quality employees do work for this organization. This organization also gives proper training and development program for the employees. However, this company spends money in order to gather innovative ideas for the better performance of the employees. Various types of innovative solution of the company impact upon maintaining effective relation with the supply chain and logistics as well as operation management of the company. Decision making process of this company is also influenced by the process of innovation. This company also has implemented some regulations and standards in order to maintain the culture of the particular organization. This company also maintains effective standard of health and safety within the entire organization. 2. Corporate Governance: Greene King Plc has lacked from several initiatives of corporate governance. It does not do cross shareholdings with some other organizations. This company has put emphasis on the distribution of rights among the participants of the organization. Therefore, various decision making process has tackled by several types of rules of corporate governance. The objectives as well as aims of this organization has structured as per the rules and regulations of Corporate Governance. This organization is fully motivated by the values and beliefs of the organization. Corporate social responsibility: Every business organization should do effective task of corporate social responsibility apart from gaining profit from its business operation. It is many the non financial as well as nonprofit area of action. However, by delivering effective corporate social responsibility, this company can build an effective image and reputation within the competitive sector of the market. It can take several actions for the needy people of the society abroad. This company also can take initiatives in order to aware people about heal and safety and many other things. By attaining deep responsible work, people will start trusting this organization hence indirectly it will increase the name and sales of the organization. Effective corporate social responsibility also provides a chance to gain competitive advantage within the competitive sector of the market of hotel and restaurant industry of U.K. Conclusion and Recommendation: This assignment has discussed total financial condition of Greene King Plc and Mitchell and Butlers Plc in order to analyze the position of Greene King Plc. Operating cash flow of Greene King Plc has increased. In 2014, EBDITA of several pubs has been increased by 5.5% from 3.4 % in 2014. This company has also taken positive initiative in order to improve the expansion of retail business within the market. This company has paid a high rate of dividend to the shareholders. This company operates its effective business operation within the competitive sector of hotel and restaurant industry within United Kingdom. This company has also seen growth in order to gain the revenue and growth among the other rival as well as competitive zone of industry. Growth of this company is 4.5 %. However, rate of corporate tax of Greene King Plc is low. The rate of corporate tax was 24% in the year of 2013 and the rate has declined by 1% to 23% in the year of 2014. However, this company has lacked from the strategy of mergers and acquisition to the other company. Mitchell and Butlers Plc have acquired two hotels and restaurants. Therefore, Greene King Plc has to take the strategy and effective technique of mergers and acquisitions of different small companies in order to expand its business activities within competitive sector of market. However, this company has the value of employees. This company tries to maintain effective relation with the employees as well as other stakeholders of the organization. Therefore, this company has operated its effective business operation within U.K for the 200 years. Therefore, it has gained a reputation, image and popularity among the market. Therefore, this company should take some strategic decision in order to attain the competitive mar ket sector of United Kingdom. Reference list Books Journals Ahila, R and X. Antony Thanaraj, Role Of Hotel Industry In The Promotion Of Tourism (Discovery Pub. House, 2013) Arnold, Glen, Corporate Financial Management (Pearson, 2013) Attig, Najah et al, 'Institutional Investment Horizons And The Cost Of Equity Capital' (2012) 42 Financial Management Doukas, John A. and Andreas Walter, 'European Financial Management Association ( EFMA ) Annual Meetings: A Retrospective Evaluation' [2013] European Financial Management Epstein, Marc J and John Y Lee, Advances In Management Accounting (Emerald, 2011) Farquhar, Jillian Dawes, 'Key Account Management In Financial Services' (2005) 10 J Financ Serv Mark Gazely, Alicia M and Michael Lambert, Management Accounting (SAGE Publications, 2006) Gray, Sidney J. and Richard M. Levich, 'Tribute To Frederick Choi, Co-Editor, Journal Of International Financial Management And Accounting, 1987-2012' (2013) 24 J Int Financ Manage Account Grieve, Ian, Microsoft Dynamics GP 2013 Financial Management (Packt Pub., 2013) Hansen, Don R and Maryanne M Mowen, Management Accounting (South-Western College Pub., 2000) Heikal, Mohd, Muammar Khaddafi and Ainatul Ummah, 'Influence Analysis Of Return On Assets (ROA), Return On Equity (ROE), Net Profit Margin (NPM), Debt To Equity Ratio (DER), And Current Ratio (CR), Against Corporate Profit Growth In Automotive In Indonesia Stock Exchange' (2014) 4 IJARBSS 'Higher Net Profit But Lower Turnover Forecast For Akzonobel In 1Q 2013' (2013) 2013 Focus on Powder Coatings Hospitality Consulting, BDO, 'Trends In The UK Hotel Industry' (1996) 8 Int J Contemp Hospitality Mngt Jameson, S.M. and K. Hamylton, 'The CRES Investigation Into The UK Hotel Industry' (1992) 4 Int J Contemp Hospitality Mngt Jiang, Fuxiu, Bing Zhu and Jicheng Huang, 'CEO's Financial Experience And Earnings Management' (2013) 23 Journal of Multinational Financial Management Loehlin, John C., 'Does Relative Bargaining Power Explain The General Factor Of Personality?' (2014) 63 Personality and Individual Differences Mahmudi, Hamed and Michael Pavlin, 'Corporate Payout Policy, Cash Savings, And The Cost Of Consistency: Evidence From A Structural Estimation' (2013) 42 Financial Management Mihalic, Tanja, Daniela Garbin Pranicevic  and Josip Arneric , Changing ICT Competitiveness Role Over Time Murinde, Victor, Accounting, Banking And Corporate Financial Management In Emerging Economies (Elsevier JAI, 2007) McCool, Barent, 'The Need To Be Prepared:Disaster Management In The Hospitality Industry' (2012) 01 J Bus Hotel Manage Nakamura, Masao, 'Joint Venture Instability, Learning And The Relative Bargaining Power Of The Parent Firms' (2005) 14 International Business Review Nicolas, Cristina, Microsoft Dynamics NAV Financial Management (Packt Publishing, 2013) Quek, Mary, 'Globalising The Hotel Industry 194668: A Multinational Case Study Of The Intercontinental Hotel Corporation' (2012) 54 Business History Saygl, Hlya, 'CONSUMPTION (IN)EFFICIENCY AND FINANCIAL ACCOUNT MANAGEMENT' (2011) 64 Bulletin of Economic Research Shin, T., 'Explaining Pay Disparities Between Top Executives And Nonexecutive Employees: A Relative Bargaining Power Approach' (2014) 92 Social Forces Stickney, Clyde P and Clyde P Stickney, Financial Accounting (South-Western Cengage Learning, 2010) Stickney, Clyde P, Financial Accounting (AIPI], 2010) Swieringa, Robert J., 'Robert T. Sprouse And Fundamental Concepts Of Financial Accounting' (2011) 25 Accounting Horizons Tarrant, Crispian, 'UK Hotel Industry Market Restructuring And The Need To Respond To Customer Demands' (1989) 10 Tourism Management Trippi, Robert R., 'A Note On Modifying The Mean-Absolute Deviation Portfolio Optimization Model To Account For Nonstationarity Biases' (1992) 21 Financial Management Uddin, Shahzad and Mathew Tsamenyi, Research In Accounting In Emerging Economies (Emerald, 2010) Usmen, Nilufer, 'Transfer Prices: A Financial Perspective' (2012) 23 J Int Financ Manage Account Vlachos, Ilias and Aleksandra Bogdanovic, 'Lean Thinking In The European Hotel Industry' (2013) 36 Tourism Management Wood, Roy C., 'The Economic Ascent Of The Hotel Business' (2013) 38 Tourism Management Website: GREENE KING - Annual Report 2014 (2015) https://www.greeneking.co.uk/files/pdfs/2014/greene_king_annual_report_2014.pdf

The Limey, and how these work to produce meaning and establish themes Essay Example

The Limey, and how these work to produce meaning and establish themes Paper The Limey1 demonstrated through 40 quite fragmented shots lasting 4 minutes and 15 seconds, that the auteur Steven Soderberghs use of unconventional discontinuous editing was developed from his blockbuster film thriller Out of Sight2/3. Soderberghs narrative establishes that Wilson, the protagonist of the plot is trying to find how Jenny snuffed it4. The focus demonstrates that this extract illustrates four specific interlinked techniques to engage the audience in ideological meanings and themes to establish the screenwriters narrative. This, includes Mise-en-scene, dealing with the elements placed in front of the camera5, cinematography displaying how film footage is shot and filmed, editing relating shots to shots and the relationship of sound to visual images6. Instantly the film begins the audience notices that this will not be conventional. The first frame is a black screen with a male voice over, saying, Tell me? Tell me. Tell me about Jenny7 in a very harsh, aggressive tone. The repetition and coldness in his voice suggests the idea of desperation, as if this character will do anything to Know about Jenny. However, this leaves a question hanging over the audience with no visual clues, possibly the director will illustrate answers further on, as the audience are left climaxing on why this was said and to whom? The sequence begins with an extremely blurred image, with the words, Terrance Stamp (actor) superimposed over it suggesting that this film will have an unfocused or unconventional narrative. We will write a custom essay sample on The Limey, and how these work to produce meaning and establish themes specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The Limey, and how these work to produce meaning and establish themes specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The Limey, and how these work to produce meaning and establish themes specifically for you FOR ONLY $16.38 $13.9/page Hire Writer However, Soderbergh uses balanced composition, as the character walks towards the camera and comes into focus placing Wilson on the left and THE LIMEY superimposed on the right, establishing that although elements within the plot shall be blurred it will be understandable and focused by the end. The denoted text may also connote that the character could have characteristics of a limey8. The word Limey is established through history to mean a British person or ship9, as the British navy enforced consumption of lime juice to combat scurvy on long sea journeys 10. Thus, illustrating that just as the lime combats scurvy Wilson has something to scourge11. The nondiegetic soundtrack at the beginning works as an introduction to the film, as Wilson comes into focus so does the music and the ideology behind it. The quick rhythmic tempo of a marching drumbeat links to the pace the character walks, displaying conventions of an action movies mood music, while connoting an emotional journey for the protagonist. The mise-en-scene demonstrates the protagonist leaving an airport, showing the audience flight attendants in uniform behind him. Soderbergh uses an eyeline match with subjective point of view cutting, while panning, to establish what Wilson is seeing. The spectator is shown trolleys, people with tickets and bags rushing around. Ideologically, this may suggest he could be new to the area, established later by his cockney accent when he says snuffed it. While the camera pans the spectator is also shown a medium 2 shot of police men; no zoom, just a direct shot, leading to a medium close up of Wilson loosening his tie. The figures behaviour and the sharpness of Soderberghs shot reflects the idea that he could be tense or stressed by noticing the police quickly, possibly because of criminal involvement in the past. The lighting throughout insinuates duplicitous nature towards the character, as he is constantly half shadowed, and wears dark clothes. Establishing mystery, the truth being hidden through shadow or there being contrasting sides of good and evil. Once Wilson is in the taxi, the audience sees a side ways shot with him looking forward rather than into the camera and then his head slowly turns from left to right and vice-versa. This could conceivably establish, as the sound track suggests that he is searching for someone. The next shot begins with a plane juxtaposed to the character being at the airport previously. The director follows the movement of the craft from left to right. He tilts the camera slightly downwards denoting Wilson to be coming towards one of many rooms illustrating hes at a hotel, which is established once he enters, by looking around and putting clothes away. At this point Soderbergh has still not shown Wilson speak to anyone, again connoting a mission. This is clarified by the nondiegetic mood music stating, They call me the seeker Searching low and high12, interlinking between the ideas that he is trying to find Jenny and the different camera angles, Soderbergh uses. The view that the protagonist seeks someone is clarified when his back faces the camera. The audience sees him remove the prop of an envelope with a news article from his jacket stating, Women Dies On Mulholland13, on the back of the envelope there is an address. Resulting in the audience and character being given clues suggesting Jenny is dead and answers to his questions lie at that address. The over shoulder shot connotes that the audience wants to seek the truth just as the protagonist does. At this point the article is juxtaposed to the nondiegetic music stating People tend to hate me cause I never smile Im a seeker, Im a really desperate man finishing instantly. This demonstrates not only his character, as constantly he gazes towards nothingness but connotes a sense of revenge as the sudden end to the song demonstrates elements of aggression, by wanting to know who caused Jennys death. Soderbergh now displays discontinuity editing, whilst using fragmented shots, but giving the spectator a fluid sense of time, forwards and backwards, allowing the audience to see where the character is emotionally. This is firstly demonstrated when Soderbergh denotes a close up on Wilson, as he looks at the envelope stating Ed Roe and juxtaposes that with a medium shot of Edward. This could connote the genre to be a crime thriller where the protagonist constantly reflects on clues. The interesting part of these fragmentations occurs when the little girl is introduced. The spectator goes from seeing Wilson sitting in a hotel room smoking and the room looking lived in with nondiegetic chimes and diegetic humming. This is juxtaposed with an image of a little girl standing on the beach with light beaming in her eyes. Thus reflecting a mirror in the characters eyes, establishing a link between Wilsons constant reflection and the little girl possibly portraying Jenny, his daughter when younger. The overlapping humming could be part of this memory; maybe a nursery rhyme he sang when she was younger and he reflects on that, just as something reflects in the girls eyes. Another fragmented point is Wilson reflecting on Jenny in the car with Edward. This through a form of superimposed editing is filmed in a blue tint which clouds the footage just like the girl at the beach, making the audience look closer. However in the car shot there are vertical lighting strips, representing the image of shutters and connoting ideas of hiding the truth. At the same time establishing an ideological voyeuristic nature that wants the audience to find the truth just as Wilson does. This is then juxtaposed to a shot of Wilson looking at a photograph of his daughter, through a motif of light, which follows the whole extract, half is covered with shadow, linking her to Wilson, but also establishing her to have something to hide. The concluding footage is less fragmented establishing continuity, as Wilson tries to follow the clues the spectators and himself have been given linking them to Edward. This begins with Wilson in a taxi, heading somewhere in a big city denoted by background city lights. This leads the director to an objective point of view shot where the audience notice a car drive past speedily making them think Wilson is in there. However, the background denotes a person getting out of a car who spectators realise is the protagonist heading up to the house, shown to be Edwards. This is an interesting use of cinematography as the film illustrates the character from different points of view through both subjective and objective omniscient shots, making the audience feel they are actually seeking out his daughter, while ideologically demonstrating that nothing within this film is settled and everything is disrupted just like the fragmented shots. Soderbergh uses another sharp edit with no zoom, to have Edward open the door connoting the idea that he has one true mission and nothing will stop the protagonist. Through reversal shot techniques it is determined that characters have a conversation about Wilsons daughter, at the same time in the background of the medium close up with Edward we ironically see his children running round, thus allowing the audience to feel sympathy towards Wilson and his need for the truth. Finally the audience are invited into Edwards back garden where the truth appears, who done it then. Snuffed her establishing, she is definitely dead while connoting his mission for revenge to the spectator. This extract has used a varied amount of both conventional and unconventional techniques such as the amount of fragmentation used. However, through these techniques of mise-en-scene, cinematography, editing and sound, the spectator is able to identify with themes established by Soderbergh. Firstly, there is revenge, as Wilson is seeking the true answers to why his daughter died, resolving a sense of injustice, as through reflections of a little girls innocence is represented. Secondly, there is the theme of nostalgia established through the protagonist being around 50s and reflecting on his past through Soderberghs fragmented shots. Finally, another theme is that of Father and Daughter as through the fragments of his reflective memory we see both a little girl and a women but also by his facial expressions as a character the nature of pain, which he feels over her death, is very clear. Through all the techniques and ideological meanings illustrated Soderbergh is suggesting through the music that the genre is an action movie, representing a crime drama through the protagonist constantly reflecting on truths and clues.

American Civil War - Battle of Hampton Roads

American Civil War - Battle of Hampton Roads The Battle of Hampton Roads was fought March 8-9, 1862, and was part of the American Civil War. Fleets Commanders Union Flag Officer Louis M. GoldsboroughLieutenant John L. Worden1 ironclad, 2 screw frigates, 2 frigates, 1 sloop of war Confederate Flag Officer Franklin Buchanan1 ironclad, 3 gunboats, 2 tenders Background Following the outbreak of the Civil War in April 1860, Confederate forces seized the Norfolk Navy Yard from the US Navy. Prior to evacuating, the Navy burned several ships in the yard including the relatively new steam frigate USS Merrimack. Commissioned in 1856, Merrimack only burned to the waterline and most of its machinery remained intact. With the Union blockade of the Confederacy tightening, Confederate Secretary of the Navy Stephen Mallory began searching for ways in which his small force could challenge the enemy. Ironclads One avenue that Mallory elected to follow was the development of ironclad, armored warships. The first of these, the French La Gloire and British HMS Warrior, had appeared in the last year. Consulting John M. Brooke, John L. Porter, and William P. Williamson, Mallory began pushing the ironclad program forward but found that the South lacked the industrial capacity to build the needed steam engines in a timely manner. Upon learning this, Williamson suggested using the engines and remains of the former Merrimack. Porter soon submitted revised plans to Mallory that based the new ship around Merrimacks powerplant. Approved on July 11, 1861, work soon began at Norfolk on the casemate ironclad CSS Virginia. The interest in ironclad technology was also shared by the Union Navy which placed orders for three experimental ironclads in mid-1861. Key among these was inventor John Ericssons USS Monitor which mounted two guns in a revolving turret. Launched January 30, 1862, Monitor was commissioned in late February with Lieutenant John L. Worden in command. Aware of Confederate ironclad efforts at Norfolk, the new ship departed New York Navy Yard on March 6. CSS Virginia Strikes At Norfolk, work on Virginia continued and the ship was commissioned on February 17, 1862, with Flag Officer Franklin Buchanan in command. Armed with ten heavy guns, Virginia also featured a heavy iron ram on its bow. This was incorporated due to the designers belief that ironclads would be unable to harm each other with gunfire. A distinguished veteran of the US Navy, Buchanan was eager to test the ship and sailed on March 8 to attack Union warships in Hampton Roads despite the fact that workmen were still on board. The tenders CSS Raleigh and Beaufort accompanied Buchanan. Steaming down the Elizabeth River, Virginia found five warships of Flag Officer Louis Goldsboroughs North Atlantic Blockading Squadron anchored in Hampton Roads near the protective guns of Fortress Monroe. Joined by three gunboats from the James River Squadron, Buchanan singled out the sloop of war USS Cumberland (24 guns) and charged forward. Though initially unsure what to make of the strange new ship, Union sailors aboard the frigate USS Congress (44) opened fire as Virginia passed. Returning fire, Buchanans guns inflicted significant damage on Congress. Engaging Cumberland, Virginia pounded the wooden ship as the Union shells bounced off its armor. After crossing Cumberlands bow and raking it with fire, Buchanan rammed it in an effort to save gunpowder. Piercing the Union ships side, part of Virginias ram detached as it was withdrawn. Sinking, Cumberlands crew gallantly fought the ship until the end. Next, Virginia turned its attention to Congress which had grounded in an attempt to close with the Confederate ironclad. Joined by his gunboats, Buchanan engaged the frigate from a distance and compelled it to strike its colors after an hour of fighting. Ordering his tenders forward to receive the ships surrender, Buchanan was angered when Union troops ashore, not understanding the situation, opened fire. Returning fire from Virginias deck with a carbine, he was wounded in the thigh by a Union bullet. In retaliation, Buchanan ordered Congress be shelled with incendiary hot shot. Catching on fire, Congress burned throughout the rest of the day exploded that night. Pressing his attack, Buchanan attempted to move against the steam frigate USS Minnesota (50), but was unable to inflict any damage as the Union ship fled into shallow water and ran aground. Withdrawing due to darkness, Virginia had won a stunning victory, but had taken damage amounting to two guns disabled, its ram lost, several armored plates damaged, and its smoke stack riddled. As temporary repairs were made during the night, command devolved to Lieutenant Catesby ap Roger Jones. In Hampton Roads, the situation of the Union fleet improved dramatically that night with the arrival of Monitor from New York. Taking a defensive position to protect Minnesota and the frigate USS St. Lawrence (44), the ironclad awaited Virginias return. Clash of the Ironclads Returning to Hampton Roads in the morning, Jones anticipated an easy victory and initially ignored the strange-looking Monitor. Moving to engage, the two ships soon opened the first battle between ironclad warships. Pounding each other for over four hours, neither was able to inflict significant damage on the other. Though Monitors heavier guns were able to crack Virginias armor, the Confederates scored a hit on their adversarys pilot house temporarily blinding Worden. Taking command, Lieutenant Samuel D. Greene drew the ship away, leading Jones to believe that he had won. Unable to reach Minnesota, and with his ship damaged, Jones began moving towards Norfolk. At this time, Monitor returned to the fight. Seeing Virginia retreating and with orders to protect Minnesota, Greene elected not to pursue. Aftermath The fighting at Hampton Roads cost the Union navy the loss of USS Cumberland and Congress, as well as 261 killed and 108 wounded. Confederate casualties were 7 killed and 17 wounded. Despite the heavier losses, Hampton Roads proved a strategic victory for the Union as the blockade remained intact. The battle itself signaled the demise of wooden warships and the rise of armored vessels built of iron and steel. Over the next several weeks a standoff ensued as Virginia attempted to engage Monitor on several occasions but was refused as Monitor was under presidential orders to avoid battle unless absolutely required. This was due to President Abraham Lincolns fear that the ship would be lost allowing Virginia to take control of the Chesapeake Bay. On May 11, after Union troops captured Norfolk, the Confederates burned Virginia to prevent its capture. Monitor was lost in a storm off Cape Hatteras on December 31, 1862.

What Companies Can Learn From The Enron Case and The Impact of the Essay

What Companies Can Learn From The Enron Case and The Impact of the Enron Case - Essay Example The corporation was formed with the merger between two natural gas pipeline corporations, namely Houstan Natural Gas and Internorth Inc. After the merger, the position and corporate image of Enron Corporation improved by a large extent thereby enhancing its productivity and profitability among others in the market of the US. In the year 1989, Enron Corporation became one of the largest gas suppliers of the United States and United Kingdom (UK) with approximately sixty thousand kilometers of gas pipelines (American-Business, 2011). The prime objective of Enron Corporation was to position itself as an inventive as well as a prominent leader in the sector of natural gas of the US. Apart from these, Enron also extended its services in other sectors namely water, fiber optics, newsprint and telecommunications among others. Enron Corporation was quite succesful in its business operations, as its revenue enhanced approximately from US$ 9 billion in the year of 1995 to about US$ 101 billion in 2000 (Dharan & Bufkins, n.d.). It was as a result of enormous international and domestic expansions but the entire amount was cloaked from the shareholders through affiliations with other concerns (Drennan, 2008). Unfortunately, the brand image of Enron Corporation declined due to planned book-keeping fraud known as ‘Enron scandal’and illegal loans. ... It may include prevarication or alterations of accounting records in order to attain an illegal financial benefit. Thus, it can be clearly revealed that it is an example of corporate internal fraud as the board members and management of the organisation were entirely involved in this case of conspiracy (Chartered Institute of Management Accountants, 2009). This type of fraud not only hampers organisational distinctiveness but also its culture, employees, ‘corporate social responsibilities’ and ethics. Hence, it can be affirmed that if the pillars of the busuiness are affected then it can not sustain in the long run among others in the market. Thus, it proved rather detrimental for Enron Corporation thereby fading its name from the market of the US. Fraud Conducted in Enron Enron Corporation was regarded as one of the fastest emerging and best controlled business organisations in the market of the US, but it could not retain its corporate image for the long run. The prime reason was due to the accounting scandal which resulted at the end of the year 2001. It was finally revealed that the fraud resulted in deterioration of its financial situations bringing about downfall of position and reliability among others in the market of the US. As a result, customer loyalty as well as market share was also affected to a large extent (IWS, 2002). Due to varied financial discrepancies, Enron Corporation finally filed a bankruptcy case on 2nd December in the year 2001. The prime suspects of Enron’s internal fraud were namely Kenneth Lay, Andrew Faston, Michael Kopper, Jeffrey Skilling, J. Clifford Baxter and Arthur Andersen, among which most of them were the directors of the organisation (Drennan, 2008). The fraud resulted due to the

Michael Focault's The Order of Things Essay Example | Topics and Well Written Essays - 1250 words

Michael Focault's The Order of Things - Essay Example It was translated into English and published under the title The Order of Things: An Archaeology of the Human Sciences in 1970. The Order of Things brought Foucault to prominence as an intellectual figure in France. Foucault's critique of Renaissance values in 'Les mots et les choses' has been very influential to cultural history. The book opens with an extended discussion of Diego Velzquez's painting Las Meninas and its complex arrangement of sight-lines, hidden subject and appearance. Then it develops its central claim: that all periods of history have possessed certain underlying conditions of truth that constituted what was acceptable as, for example, scientific discourse. Foucault argues that these conditions of discourse have changed over time, in major and relatively sudden shifts, from one period to another. The first chapter 'Las Meninas' from The Order of Things: An Archaeology of Human Sciences has been dedicated to critical analysis on Diego Velazquez's painting Las Meninas (The Maids of Honor) is a 1656 painting by Diego Velzquez, the leading artist of the Spanish Golden Age. The work's complex and enigmatic composition raises questions about reality and illusion, and creates an uncertain relationship between the viewer and the figures depicted. In the 19th century Sir Thomas Lawrence called the work "the philosophy of art". Las Meninas shows a large room in the Madrid palace of King Philip IV of Spain, and presents several figures, most identifiable from the Spanish court, captured, in a particular moment. Some figures look out of the canvas towards the viewer, while others interact among themselves. "Rather than pursue to infinity a language inevitably inadequate to the visible fact, it would be better to say that Velazquez composed a picture; that in this picture he represented himself, in his studio or in a room of the Escurial, in the act of painting two figures whom the Infanta Margarita has come there to watch, together with an entourage of duennas, maids of honour, courtiers, and dwarfs; that we can attribute names to this group of people with great precision: tradition recognizes that here we have Dona Maria Agustina Sarmiente, over there Nieto, in the foreground Nicolaso Pertusato, an Italian jester. We could then add that the two personages serving as models to the painter are not visible, at least directly; but that we can see them in a mirror; and that they are, without any doubt, King Philip IV and his wife, Mariana."(Focault, p 4, 5) The young 'Infanta Margarita' is surrounded by her maids of honor, chaperone, bodyguard, two dwarfs and a dog. Just behind them, Velzquez portrays himself working at a large canvas. Velzquez looks outwards, beyond the pictorial space to where a viewer of the painting would stand. A mirror hangs in the background and reflects the upper bodies of the king and queen. The royal couple appears to be placed outside the picture space in a position similar to that of the viewer. A few critiques even suggested that they were being painted by the painter. Las Meninas is a pure manifestation of critical thinking, an important trait of modern philosophy. Although, Focault is considered a post modernist critic but his work echoes modern philosophy characteristics. 'The value of Valasquez's painting for Foucault lies in the fact that it introduces uncertainties in visual

Legal Environment for Global Organizations Essay

Legal Environment for Global Organizations - Essay Example Global organizations like WTO, IMF, World Bank, UN, and WHO which must not be treated as 'insignificant actors' in the global arena due mainly to the functions they are embodied with. An understanding of the link between global organizations and global governance would push one to see this importance. As the world turns into a globalized competitive market in which nations interact according to the principles of economic liberalism, a requirement for more order is ensued. The importance of understanding the legal environment for global organizations is seen in their roles as instrument, arena, and actor in the global interaction (Archer, 2001). An example of this is the WTO, which was established by sovereign states whose power limits independent action by international organizations. Global organizations are actually used as instruments in order for states to use their ends, particularly on the areas of trade liberalism which profits first world states primarily. They serve as means for the policies of individual governments as well as instruments for diplomacy among states. The United Nations is seen to function as an instrument of US diplomacy which undertakes policies according in the global sphere. It is the rule of unanimity which is apparently carried out by global organizations, in which certain states are able to influence other states over certain decisions. As arenas within which actions take place, global organizations provide meeting places in which member states can discuss certain matters diplomatically. The term itself - arena - signifies neutrality even for nations in disagreement. Hence, international organizations serve not only as mere forums for these activities, but also as a diplomatic reinforcement for their policies (Hoffman, 1970 in Archer, 2001: 74). Even the third world states are given their own venues for discussing international economic events, through the UN Conference on Trade and Development (UNCTAD) as well as the Group of 77 (G77) participated in by states in Southern continents of non-aligned countries (Archer, 2001). Legal environment is a necessity for global organizations since it gives them the venue and the power to govern the world politically and economically, surged by the very nations that represent them. The World Bank for example, is represented by first world nations particularly by the United States, whose legal policies govern the financial activities of poorer nations that have incurred financial debts with them. DISCUSS other legal influences which can affect business in a specified country. CONSIDER other cultural, religious, and political influences - how might these influence the business environment Legal influences which can affect business in a specified country include the policies on trade liberalization and non-tariffication which can affect the level of balance of trade and the domestic sales of goods. With a liberal importation allowed by the policies of WTO, which almost defeat the level of exports in a certain country, a probability of trade deficit is imminently seen, which may cause fiscal crisis for that particular country (Pereira, et al., 1993: 6). Non-tariffication of goods for importation, which is also embodied in the WTO, causes bankruptcy of the sale of domestic products, which have higher prices than the imported ones. In countries in which colonial mentality

Overview Of Foreign Direct Investment In China Economics Essay

Overview Of Foreign Direct Investment In China Economics Essay Over the last decades, for the Chinese growth the FDI has been an important engine. Even though, across the Chinese region there is a big diversity in FDI patterns. For example, the 80 percent of total FDI distributed in the five special economic zones. While the collective five provinces accounts for only 10 percent in the North-West. Furthermore, there are different regions attract different type of FDI. For example the market seeking FDI are increasingly attracted by urban growth centre, on the other hand other regions are the industrial unit of the world. Undoubtedly, an internal discrepancy in economic growth is explained by the foreign direct investment throughout the regions. The economy of china is ten times larger than it was in 1978 and growing at the rate of 10 percent per year. The results of which there are two important dimension of this growth, one is rising of income gap and emergence of large middle class. The gaps between the coastal areas and the inland that have i ncreased in the reform period of the last few decades. The coastal areas have done extremely well because of the growing importance of  foreign trade; most foreign trade involves production and workers along a narrow strip along the coast, particularly Pearl River Delta  and the Yangtze Delta, the area from Shanghai up the Yangtze River and a little bit in the northeast. Normally these areas are the  major participant in international trade, through a big demand for labour, and incomes in these areas have gone up speedily. The most important, even in the urban sector is the rising gap among skilled and unskilled workers. In addition during the Maoist era, there was a strict wage structure. The diversity between highly paid and relatively low-paid workers was humble. But during the development period, this wages configuration has become marketized, and for the people with skills, whether managerial or engineering, the price has been tender up dramatically. For the unskilled lab our the entry-level wage, has been remain relatively flat. From the beginning of the reform period Chinas dissimilarity was significantly less than most countries for example compare to India or the East and Southeast Asian countries. But nowadays its degree of income dissimilarity is approximately the same as that in India and certain Latin American countries which are famous for a high degree of income inequality. 2.2 FDI policies in China One of the most important key elements of Chinas economic reform process has been the support of foreign direct investment. From the late 1970s, for foreign businesses china has progressively opened its economy and in this way attracted large amount of direct foreign investment. Mean while, the policies of china toward FDI as well experienced a variety of changes on their policy priorities. While in late 1970s and early 1980s, government policies are categorized by surroundings new rules to permit joint ventures using foreign capital and setting up Special Economic Zones (SEZs) and Open Cities. During the second conference of the Fifth National Peoples Congress in July 1979, The Law of the Peoples Republic of China on Joint-Ventures using Chinese and Foreign Investment was adopted, yielding foreign investment a official status in China. The State Council also awarded privileges of autonomy in foreign deal to Guangdong and Fujian Provinces and in 1980 set up four unique Economic Zones (SEZs) in Shenzhen, Zhuhai, Shantou, and Xiamen. In December 1982, the assessment to open up China to the world economy was officially incorporated in the 1982 state foundation adopted by the Sixth National Peoples Congress. In the late 1983, policy for the carrying out the Law of the Peoples Republic of China on Joint Ventures using Chinese and Foreign Investment was formulated in 1983 to promote relax domestic market and to simplify the business environment for foreign joint ventures. Since 1984, China has also motivated to additional open up the country to FDI. In 1984, the idea of SEZs was comprehensive to an additional fourteen coastal cities and Hainan Island (became a province and the fifth, the largest SEZ in 1988). Twelve of the fourteen cities were chosen Technology Promotion Zones in 1985 to speed up transmit of technology. In 1985, growth triangles the Yangtze River delta, the Pearl River delta in Guangdong, and the Min Nan region in Fujian, Liaodong and Shandong Peninsulas, and the Bohai Sea Coastal Region were as well opened to foreign investors. In 1990, the Pudong District of Shanghai was nominated as a new advance zone to lead improvement alongside Yangtze River. In 1986, more encouraging policy and provisions are used to promote FDI inflow, particularly export-oriented joint ventures and joint ventures using highly developed technologies. On October 11, 1986, the State Council promulgated the requirements of the State Council of the Peoples Republic of China for the support of Foreign Investment. These so-called 22 Article requirements provided foreign joint ventures with favoured tax treatment, the liberty to import inputs such as materials and equipment, the right to retain and swap foreign exchange with each other, and simpler licensing actions. Extra tax profit was open to export-oriented joint ventures and those employing sophisticated technology. The government also attempted to guarantee additional the independence of joint ventures from external interfering interference, to remove many unreasonable local costs, and to provide another tradition for joint ventures to balance foreign exchange. Restricted admittance was provided to suppl ies of water, electricity and transportation (paying the same price as state-owned enterprises) and to interest-free RMB loans. The significance of the 1986 requirements is that it provided incentives for FDI intead of simply permitting it, and this more happy approach was furthered by the approval on April 12, 1986 of the Law of the Peoples Republic of China on Enterprises Operated Exclusively with Foreign Capital at the fourth Session of the Sixth National Peoples Congress. This clearly linked the enterprise of completely foreign-owned enterprises to the development of Chinas national economy, and requisite such enterprises either to be exported-oriented or to use sophisticated technology and equipment. The more moderate approach was furthered by the April 1990 Amendments to the 1979 Joint Venture Law. These amendments officially recognized non-Chinese to act as Chairman of the Board of Directors, authorized extensions to the terms of function of joint ventures, and isolated the upper limit to the percentage of the registered funds (minimum not less than 25%) contributed by the foreign partner. Chinas practical policies toward FDI resulted in rising inflow of foreign capital in the late 1980s and especially in early 1990s. From the mid 1990s, although maintaining constructive environment for foreign businesses, government policies began to focus extra on linking FDI encouragement to domestic industrial objectives. In April 1994, the State Council outlines new proposals to draw FDI into the agriculture, hydropower, communications, energy and raw material sectors through encouraging tax policies and discriminatory financial support. In November 3, 1994, the State Administration for Industry and Commerce and the Ministry for Foreign deal and financial collaboration issued a Circular on Issues relating to reinforcement the Examination and authorization of Foreign-funded Enterprises. This tightened the measures concerning the approval of contracts and the registration of foreign enterprises, and improved the penalties if agreements were not fulfilled. The temporary Guidelines for Foreign Investment Projects took cause on June 27, 1995. Main concern was given to foreign direct investment in the agriculture, energy, transportation, telecommunications, basic raw materials, and high-technology industries, and FDI projects which could take benefit of the rich natural resources and moderately low labour costs in the central and northwest regions were to be strongly encouraged. The Guidelines fixed that the Guiding Catalogue of Foreign Investment Projects was to supply the source for the examination and approval of FDI projects, which were to be classified to one of four categories: encouraged, Restricted, Prohibited, and Permitted. Incorporated in the encouraged projects were those in infrastructure or underdeveloped agriculture; those with new/advanced technology which could upgrade product function, save energy and raw materials, develop economic efficiency, or manufacture under-supplied new equipment/materials to persuade market demand; those which were export-oriented; those which involved new technology/equipment which made use of natural/regenerative resources and prevented/controlled pollution and so on. Some projects were classified as confidential such as those whose technologies had been developed or transferred, and those where construction exceeded domestic requirement; and those under testing by the State, and those occupied in the investigation of rare and valuable mineral resources. The third type is the so-called forbidden projects. These are projects that jeopardized national security or damage the public interest; spoilt the environment, natural resources or human health; those which used subs tantial amounts of arable land or were unfavourable to the protection and improvement of land resources, or endangered the security and implementation of military services; and so on. Projects that are not in any of the above groups are known as permitted. Inward FDI: From the time when it launched the economic reforms and called for foreign investment membership in its economy in 1979, China has received a large part of worldwide direct venture flows. China has become the second biggest FDI beneficiary in the world, after the United States, and the leading host country along with developing countries. Chinas situation as a host to FDI is in fact moreover far separated from any other developing country and generally developed countries to be equalled. In support of twenty years (1979-1999), authentic FDI inflows addicted to China from 1979 to 1999 amounted to US$306 billion, which is comparable to 10 percent of universal direct investment and regarding 30 percent of the venture quantity for every developing country locate collectively. The Chinese FDI trends can be illustrated depends on changes in policy guidelines first phase is from 1979-83, second phase is from 1984-91, and third phase is from 1992-99. First phase: In this phase Chinese government recognized four singular Economic Zones (SEZs) in Guangdong and Fujian provinces, and presented particular encouragement policies for FDI in these SEZs. Whereas FDI inflows addicted to China were very much intense in these SEZs, the quantity was fairly restricted. The overall inflows of realised FDI throughout these 5 years amounted to only US$1.8 bn, which is averaging a US$360 million per annum. Second phase: While 1984, when Hainan Island and fourteen coastal cities crosswise ten provinces were opened, in the past recorded reserved FDI levels started to take off. Whole FDI inflows amounted to US$10.3 in the 1984-88 periods; by means of yearly standard of US two billion. The expansion tariff of FDI inflows into China goes down at insufficient 6.2 percent intensity in 1989. Although FDI started to continue its development path in 1991, the yearly expansion rate for this whole stage was lowered to 11.0 per cent, which paled in association to 38.1 percent throughout 1984 to 1988. Third phase: this phase started in the mechanism of 1992, while Deng Xiaoping circuited Chinas southern coastal areas and SEZs. After his trip, this intended principally to drive Chinas generally economic development method forward and to underline Chinas assurance to the open door policy and market-oriented financial transformation, proved to be a accomplishment in garnering the buoyancy of foreign investors in China. China adopted innovative approach, which turned missing from extraordinary regimes toward additional nation-wide operation of open policies for foreign direct investment. The grades were significant: while 1992 the inflows of FDI addicted to China have accelerated and reached the height stage of US$45463 million in 1998. In 1999, chiefly because of the collision of the Asian financial crisis and the grow of achievement transactions in mutually OECD and non-OECD countries, FDI inflows addicted to China dropped to US$40 398 million. The information on FDI outflows vary. In accordance with Chinas BOP data, the collective total during 1990 to 1997 was US$18.9 billion, consisting entirely of equity capital. From the 1980s, China has been quick acquiring resources from abroad. Researchers approximate that the total Chinese FDI in Hong Kong was US$20-30 billion by the end of 1993 or 1994. Actually the net capital of Chinese affiliates overseas can be calculated in hundreds of billion dollars. Legitimately, the Chinese SOEs had as many as 5,666 affiliates overseas at the end of 1998 by means of a collective FDI of US$6 billion. Source countries As the size of FDI source countries in China is moderately huge, a handful countries account intended for the sums invested. As a single investor Hong Kong comes first and the recently industrialised economies have been the chief investors as a group. Four ASEAN countries (Thailand, Philippines, Malaysia, and Indonesia) have significantly increased their existence in China from the early 1990s. Along with the developed countries, Japan and the United States have been the main investors in China. The other urbanized countries have made moderately small amounts of venture in China, although they have exposed an growing interest in China in current years. The target of outward FDI is Hong Kong which is the chief objective of Chinese external FDI. Comprehensive and consistent data are not available for an prolonged investigation of this matter. 2.3.4 The geographical and Sectoral distribution of FDI in china The geographical distribution: The patterns of FDI in China illustrate a vast inequality between regions. During the period from 1983 to 1998, FDI in the eastern section took up 87.8 percent whereas the middle section attracted 8.9 per cent and the western section attracted only approximately 3 percent. This disproportion stems from the FDI policies taken by the Chinese rights. The open door has started with the establishment of exceptional economic zones (SEZs) and there is a special regimes for fourteen coastal cities. This has resulted in disturbing absorption of FDI in the east. By means of the approval of new broadly-based economic reforms and especially in the 1990s open door policies for FDI, FDI inflows into China have taking place to spread to other provinces. Amongst the eastern section provinces, the performance of Guangdongs in attracting FDI has been exceptionally remarkable. The share of accumulated FDI of the national total stock was 29.4 percent from 1983 to 1998, hig her than all other provinces with Jiangsu and Fujian, each of which possessed roughly 10 percent of the nationalized total, and ranked 2nd and 3rd among Chinas 30 provinces. On the other hand, if we examine this province group one stage more, we discover that the shares of every region have progressively changed. In the 1990s the share of Guangdong has dropped from 46.13 percent in the 1980s to 27.98 percent. But contrast to this, the other coastal provinces shares, such as Fujian, Jiangsu, Zhejiang, Tianjin, Shandong, and Hubei, have increased gradually. The share of the middle provinces in the national sum accumulated FDI stocks has augmented steadily from 5.3 percent throughout the 1980s to 9.2 percent throughout the 1990s. The most important contributors are Henan, Hubei, and Hunan regions, and their shares of accumulated FDI in the nationalized sum twice from the 1980s to the 1990s. These data recommend that the provincial allocation of FDI inflows has spread fairly since the o pened coastal provinces into the central provinces. The very small amount of FDI inflows are received by western less developed provinces. Their share in the national accumulated FDI stocks has been declining from 4.7 percent in the 1980s to 3.2 per cent in the 1990s. On the other hand, Sichuan and Shaanxi fascinated reasonably more FDI inflows than the other provinces in this group. In final analysis, FDI inflows in the 1990s have diffused from the originally concentrated southern coastal region towards the south-eastern and eastern coastal region in addition to central region. The three regional groups of the eastern, central and western regions experienced altered patterns in FDI inflows. FDI inflows have been increased steadily for the eastern region provinces with a surprisingly high growth rate, mainly from 1992 to 1998. But the other two regional groups, the inflows of FDI have been much less, particularly for the western area provinces. The result of which, the gap among the eastern section and the central and western sections in terms of the complete extent of yearly FDI inflows has essentially broadened since 1992. Examiner has shown that the provinces with larger GDP, high per capita income, higher intensity of accumulated FDI stock, more rigorous transport infrastructure and top level of telecommunications have paying attention fairly more FDI inflows , whereas upper labour costs have truly deterred FDI inflows. The prospect of central and western sections in provisions of FDI will be more promising as the improvement of infrastructure and additional honesty of the market attracts more FDI into these areas. Their relative returns lie in plentiful natural assets, additional opening up and development of the market. If the state-owned enterprises (SOEs), several of which are in the central and western regions, are open to overseas investors, a huge deal of FDI could flow into these section. The market-oriented FDI aims to set up ventures to supply goods and services to the local market. This kind of FDI may be undertaken to exploit new markets. Apart from the traditional reason for circumventing tariff barriers, the market size, prospects for market growth, and the degree of development of host countries are very important location factors for market-oriented FDI. The general implication is that host countries with larger market size, faster economic growth and higher degree of economic development will provide more and better opportunities for these industries to exploit their ownership advantages and, therefore, will attract more market-oriented FDI. Even for export-oriented FDI, the market size of host countries is important because larger economies can provide larger economies of scale and spill-over effects. Over the past decades or more, the scale of Chinas economic reconstruction has been expanding increasingly, with the purchasing power of the people strengtheni ng rapidly and markets becoming increasingly brisk. Although Chinas per capita GDP is still very low, its rapid economic growth and continuously increased purchasing power has made China attractive to market oriented FDI, such as in the fields of basic chemicals, drinks, household electrical appliances, automobiles, electronics, and pharmaceutical industries. The economic growth rate in China has slowed down from 1996 because of the modification of overall growth at the beginning of the 90s. In current years, the economic growth rate still remains at about 7 per cent. Taking such important factors into account, the level of economic development, the potential for technology development and the effect of reorganization, it is quite possible for China to keep economic growth at a rate of 6 to 7 per cent in the coming 10 years. If this is the case, China will stay on a fast growing huge market for overseas and domestic investors. However there is existence of a downside factor like the quick increase in the production capability and the slow growth of per capita income and consumption has resulted in periodical dispersion in China. The occurrence of supply beyond demand exists in the majority industries but in China it has been harsh in certain sectors or activities. Natural, Sectoral and geographical distribution of FDI in China Sectoral Distribution: so far the key percentage of FDI is drawn for the manufacturing field, which takes up approximately 60 percent of the total contracted FDI by 1998. Next follows real estate with the share of 24.4 %. The segment of the allocation industry together with transport, wholesale and retailing is 6.0 %. Construction comes after that with 3.1 %. The major industry such as agriculture, forestry and fishing takes 1.8 %. Soon, service trade, such as finances, wholesale, telecommunications and resale business, will take up a larger share on account of Chinese agreement to WTO and additional liberalisation. Additional deal liberalisation should also take place in conventional industries. Particularly, the extension of FDI in agriculture will rely on the level of opening up to the market flow of agricultural products and the industrialised process of production operations. human resource endowments cost and productivity of labour One of the most important factors to attract FDI in China is the advantage in competitive production factors labour force, land and natural resources. The degree of development of host countries is often considered one of the most important determinants of FDI flows because it is positively related to domestic entrepreneurship, education level, and local infrastructure. With the worlds largest population, China has rich resources of labour, with average salaries of workers remaining at a relatively low level. China has paid great attention to the education of its people such as nine-year universal compulsory education. Therefore, Chinese labourers are of relatively high quality and there are comparatively numerous technical personnel. Some fields, however, are in short supply skilled managers, engineers and technicians. It is often argued that the labour cost in determining FDI flows should be the efficiency wage rate, which is adjusted in line with productivity rather than the absolute wage, especially if FDI is export-orie nted. In terms of the efficiency wage rate, China still has good advantages as confirmed by empirical research. China is as well extremely rich in energy reserve. Chinese production of oil, its predominant fuel, is among the highest in the world (Saudi Arabia being the main producer) in spite of the fact that China imports it owing to high consumption. China is the largest producer of coal, roughly one third of the worlds total production and its coal industry has been troubled by a serious oversupply problem. As with coal, Chinas electric power supply is also experiencing an oversupply problem. Other major natural resources such as land, iron and other minerals are economically available. With the globalisation of the world economy and the liberalisation of international trade and the giant strides in technological innovation, the advantage of a cheap labour force has become less important for foreign investors. Chinas disadvantages in terms of technology gaps and lack of labour qu alification in some areas will also take some time to improve. Physical, financial and technological infrastructure It can be supposed that the ease of use of physical infrastructure affects the decision of selecting the investment place. The additional highways, railways and interior transport waterways are adjusted in accordance with the size of host province, the more FDI inflows. An additional important variable is the level of telecommunication services. Advanced levels of telecommunications services will save time and reduce the costs of communication and information gathering, as a result facilitating business activities. Research confirms the supposition supported by other experimental studies that the provinces with more developed infrastructure are likely to be successful in attracting FDI. The same conclusion can be made for the technological infrastructure. In latest years, pressed by the market competition, the improvement speed of Chinas industrial structure has been accelerated. Mainly, the progress of high-tech has been greatly speeded up. At present, China and its provinces have e laborated a variety of five-year plans and the development of high-tech industry has been a top main concern. The current level of the technology of China and its provinces functions in order to attract FDI and induce the technology transfer. Openness to international trade and access to international markets China has adopted the so-called export promotion development strategy which was confirmed to be a outstanding success in the Asian NIEs. Mutually with export promotion policy, China has implemented economic reforms and open door policies and made efforts to encourage trade by concluding several joint trade arrangements and adopted independent actions. There has been considerable progress in reducing tariff barriers in the 1990s, the average tariff rate on imports declined from 42.9 per cent in 1992 to 23.6 per cent in 1996 and to 17.0 percent in 1997. China has also formulated and implemented a series of preferential policies to encourage international trade. Duty exemptions for intermediate products used in the production of exports have been particularly important in boosting Chinas foreign trade. However, there remain several barriers to free trade including administrative enforcement and non-tariff measures. The local content requirement and the export proportion requirement may inversely act to promote FDI. The import substitution policy may function to promote FDI in the short term but further competition, which can be created from the increase in import, may positively act to promote new additive investment in current investors for introducing high-technology production. Also, Chinese further acceptance of multilateral investment arrangement is necessary to promote FDI into China. For example, China still does not allow wholly foreign-owned companies to trade in many areas even though it has started to liberalise it. Chinas admission into the WTO will be favourable to the settlement of the problems. In provisions of ease of access to international markets, China has also some merit. Export-oriented FDI aims to use particular and specific resources at a lower real cost in foreign countries and then to export the output produced to the home country or to third countries. Even though the most important location factors for export-oriented FDI are resource e ndowments, research found that China has a relatively attractive and strategic geographic position in that its territory is huge and offers access to other Asian countries and the Americas. Development of the regulatory framework and economic policy coherence Regulatory structure China has endeavoured to launch a more transparent legal framework and business environment. It has been reorganization its legal system concerning FDI. China has amended a series of laws, regulations and provisions such as Equity Joint-venture Law and Contract Law just to name but a few. Also China has been relaxing some restraints and liberalising further on the area of restricted investment while it still keeps great emphasis on FDI in the encouraged fields and regions. Furthermore, since the mid-nineties, China has launched a programme to restructure and reduce the State-owned sector. It has made known that foreign participation would be welcome in the restructuring process, which will bring advanced managerial skill and enhance internal efficiency and international competitiveness. Given the need to reform Chinese SOEs, but bearing in mind the weaknesses of the domestic capital markets and the lack of managerial capacity, the Chinese policy to allow FDI in the areas of SOEs seems to be on the right track. It remains to be seen, though, how authentic participation of foreign investors will be allowed. Besides, as soaring unemployment seems inevitable in the process of the restructuring of SOEs, constructing a social security net is likely to be very onerous. Even after taking into account all recent Chinese measures, significant work still lies ahead to further improve the legal system for the market economy. The existing legal basis, legislation procedure and operating mechanism have not yet fully shifted to the needs of market economy. Various types of FDI recipients should come out in front. Privately owned enterprises have arriving inadequate share of FDI. Further efforts are expected to bring FDI inflows into these enterprises in line with the efforts of SOEs to further co-operate with potential foreign investors. Employment figures show that foreign direct investments in enterprises in villages and small towns have been considera ble. Chinese efforts to comply with the international standards in its preparation for accession to the WTO will certainly expedite the reform policy. Economic policy coherence China is most likely to maintain its economic growth policy. In the year 2000, China is expected to record 7.3 to 8.5 per cent subsequent to 7.1 per cent growth rate in 1999. According to the Chinese governments tenth Five-Year plan (2001-2005), Chinese economic growth will be kept above 7 per cent and Chinas GDP will be around US$1 300 billion in 2003 and US$1 500 billion in 2005.