Technology and its Negative Effect on Society Essay

Mom turns on the television and sets the table, dad comes home from work, checks his personal digital assistant for an email he’s been waiting on, while his daughter sits at the table finishing up a â€Å"thumb lashing† on her cell phone that she is giving to her â€Å"BFF† because she just failed her history test. This scenario has become the norm in homes across America today. It’s the digital age, technology is booming at such a rapid pace we cannot even wear out our devices before the newer up-to-date models arrive. Technology has negative effects on society, because it is causing our critical thinking and social interaction skills to decline, it is disrupting the American family unit, and it has caused us to become a distracted society that is†¦show more content†¦Add to this study a statistic from the Official Journal of the American Academy of Pediatrics â€Å"75% of teenagers now own cell phones, 25% use them for social media, 54% use th em for texting, and 24% of them use them for instant messaging† (Gwenn Schurgin OKeeffe). We have an entire generation that is developing socially and emotionally while â€Å"plugged-in†. This negative effect is not only caused by just internet use and cell phones, our old friend the television is causing us harm as well. With the invent of newer ways to deliver television shows, the ability to better record television shows, and watch â€Å"on demand† shows it shouldn’t be shocking to know that according to Neilson Ratings the average American household watches â€Å"5 hours and 11 minutes of television a day† (Who Watches What (and How Much)? U.S. TV Trends by Ethnicity). Psychologists have proven that too much television has been shown to â€Å"hamper development of the pre-frontal cortex -- the area of the brain responsible for planning, organizing and sequencing behavior for self-control, moral judgment and attention† (Abell) there shoul d be no doubt that this fact and the fact that nearly â€Å"1 in 10 children in America have beenShow MoreRelatedThe Negative Effects Of Technology On Society1201 Words   |  5 PagesIn recent discussions of technology in general, a controversial issue whether the social media provide a net good for the society, has raised wide concern. That is due to the fact the technology has developed so fast and affected our society in various aspects, such as the way of communication and self-assessment. On the one hand, some argue that technology makes our life easier and more convenient. That is definitely true. For example, we can learn what just happened in the world immediately atRead MoreNegative Effects Of Technology On Society1326 Words   |  6 Pages[their] phones.† - a quote found on social media. Technology has made life easier, more convenient, and even boosted the economy- but has it made humans more alone? Instead of talking to a person that might be two feet in front, humans stare at their phone. Technology, especially social media has impacted society, and not for the better. The crucial, still developing, generation such as children and young adults are impacted negatively. Growth in technology has lead to dependence on devices, a growingRead MoreEssay on Technology and the Negative Effects on Society1601 Words   |  7 PagesIntroduction Since the industrial revolution, society has become more and more dependent on technology. So much so that we sometimes lack the willingness to think before we act. We become impatient if it takes more than a few seconds to download a copy of the morning news paper. We expect immediate responses to our email, and we expect someone to answer their cell phone whenever and wherever we call. â€Å"Industrialization resulted in rapid and sustained economic growth and a massive increaseRead MoreTechnology s Negative Effect On Society932 Words   |  4 PagesTechnology’s Negative Effect on Society Mankind has had a yearning for knowledge since the dawn of time, causing giant technological leaps. At the dawn of the new millennium technology thrived, and since then, technology has taken our world in a completely different direction than anyone could have imagined. Just like everything else, people have their own opinions and they either like, or dislike what technology has brought into our lives. If we look at the idea of technology from both sides, itRead MoreThe Negative Effects of Technology on Society Essay949 Words   |  4 Pages Technology has more negative effects on today’s society than positive. Due to technology in the past few decades Canine Shock Collars have been increasingly popular. Students in school pay more attention to texting than they do their classes. Violent addictive video games have made their way into American homes. Parents encourage their children to not text as much, but them to face the problem of constant communication. The Internet gives the students easier ways to cheat in schoolRead MoreEssay about The Recent Negative Effect Of Technology On Society1731 Words   |  7 Pages The Recent Negative Effect of Technology on Society nbsp;nbsp;nbsp;nbsp;nbsp;Ever since the Industrial revolution, technology has been changing at a fast pace. People are always wanting a better lifestyle therefore there is always something new arising so humans can cope with their physical environment. One of the most important breakthroughs for technology was the agricultural system. The agricultural system was the basis for the technology of the future. The agricultural systemRead MoreEffects Of Technology On Society s Society1246 Words   |  5 Pages Effects of Technology on Society Many years ago, historians believe the future would be an amazing technologically advanced place filled with robots and time traveling. But today no one seems to be shocked by all of the advancements (Negative Effects of Technology). The computers are controlling minds, and humans are acting more as robots than citizens. Over the last few decades, there has been a dramatic improvement in the development and use of technology. Workplaces have goneRead MoreTechnology And Its Impact On Society1302 Words   |  6 Pages Technology Dominates Society How has technology affected the everyday life of society today? Is society as social as it use to be before everyone had access to an abundance of technology? Many people believe that the answer to those questions are that society is less social and technology has had a negative impact on humans today. As technology progresses bounteously society begins to rapidly decline. The ways society is negatively impacted socially mentally and emotionally will be analyzed. Read MoreThe Overuse of Technology in Our Daily Life Essay1452 Words   |  6 Pages†¢ An Introduction Would that be possible to stay away from our technology’s devices for just a day? The answer for this question will bring a lot of negative answers, and of course if we ask this question in a survey, â€Å"NO† will be the winner of this survey. Talking about the use of technology reminded me one of the sources from my annotated bibliography by Amy Petersen, who is the Theatre and Media Arts Department Chair and Associate Professor in the College of Fine Arts and Communications at BrighamRead MoreTechnology And Its Effect On Society Essay1239 Words   |  5 Pagesworld is increasing very rapidly, and new innovations are coming along each and everyday. Technology is the application of scientific knowledge for practical purposes, especially in industry (Oxford). There is no denying that the impact of technology in the world today is huge, now technology has made it to the palm of our hands with the iPhone and continuing to expand. My generation has grown up on technology so I can’t imagine how my life would be with out it, older people may say it has ruined the

Analysis Of Stephen Crane s The Red Badge Of Courage

Lukas Bryant Mrs. Pat Perdue English 11 18 November 2015 Jim Conklin, the Savior Most people grow up around some form of religion. Some grow up with Christian values and customs. Others live their lives around theological ideals. In Stephen Crane s The Red Badge of Courage, Jim s death, life, and even his initials have a greater meaning than just his simple information. When he writes this novel, he includes allegories from the Bible and Christianity because of his religious upbringing. Crane makes Jim out to be a representation of Jesus. He gives Jim Jesus initials, he gives him the same death that Jesus has, and he makes Jim s death, like Jesus , a great impact on others. Jim is a representation of Jesus Christ because of his initials, the manner in which he dies, and how his life and death impact Henrys behavior and attitude. Henry Fleming is a loud, boisterous coward. He boasts about how he wants to go into the military just to go to war and how great he will be during his service. In the novel, Henry says, In visions he had seen him self in many struggles. He had imagined peoples secure in the shadow of his eagle-eyed prowess.(Crane 5). Henry does not act like this once he is deployed into the field. He has a tall friend named Jim Conklin. Jim is a brave and loyal companion to his regiment. Jim explains, But if everybody was a-standing and a-fighting, why, I d stand and fight.(Crane 12). Crane uses Jim to represent Jesus in his novel. Jim s initials,Show MoreRelatedAnalysis Of Stephen Crane s The Red Badge Of Courage 1763 Words   |  8 PagesJoshua Lachowicz English 4A Pd.2 Ms.Mastrokyriakos 20, November, 2014 Literary Analysis Wc: 1680 â€Å"A hero is an ordinary individual who finds the strength to persevere and endure in spite of overwhelming obstacles. (Christopher Reeve)† In The Red Badge Of Courage, the author Stephen Crane, analyzes the terms â€Å"hero† and â€Å"being heroic† through the main character’s actions during WWI. Stephen Crane was intrigued with the art of war and battles and to write the novel as accurately as possible spoke toRead MoreThemes And Symbols In The Red Badge Of Courage992 Words   |  4 PagesSymbols have a huge role in the everyday life. Somebody gives their loved one a red rose to express the love that they have for them. While the bride and the groom wear white apparels to their wedding to represent the new life, that they are starting together. In the novel, The Red Badge of Courage, written by Stephen Crane, a boy named Henry Fleming learns to face his fears. In the novel, A Separate Peace, written by John Knowles, Gene goes back to his old school a nd recalls the events that happenedRead MoreThe Red Badge Of Courage1797 Words   |  8 PagesAnalysis of The Red Badge of Courage: Idealization of War Homer once said, Beware the toils of war ... the mesh of the huge dragnet sweeping up the world (War Quotes III). This quote, taken from Homer s famous work, the Iliad, demonstrates the idea that war can be seen in a skewed fashion. Realistic mindsets are the key for soldiers in understanding the truth about war. War is often idealized and viewed in an unrealistic light based on heroic stories and courageous stories of battle. The classicRead MoreThe Red Badge Of Courage2690 Words   |  11 PagesKevin Raynak TAR 103 Eve Bandi Spring 2016 Play Analysis The Red Badge of Courage The Red Badge of Courage is written by Stephen Crane and was published on October 5, 1895. I chose to analyze this specific play because I read a brief plot overview about it, after reading it I thought it had an interesting story and I have always had an interest in the era this story takes place in. This play would be intriguing to an eventual audience because it has a compelling character development in the protagonistRead MoreSymbolic Meaning of the Land in Gone with the Wind6993 Words   |  28 PagesReviewÂ…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…...4 2.1 Brief Introduction of Margaret Mitchell and Gone with the WindÂ…Â…Â…Â…Â…Â…Â…Â…Â…4 2.2 Previous Researches of Gone with the WindÂ…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â….4 2.3 The Views about Sociology of NovelsÂ…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…..5 Chapter 3 Narrative Analysis of the LandÂ…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…...7 3.1 Contextual Meaning of the LandÂ…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…..7 3.2 Social Emotions of Novels of the LandÂ…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…8 3.3 Social Function of Novels of the LandÂ…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…...Â…..9 3.4 Living CircumstancesRead MoreLiterary Criticism : The Free Encyclopedia 7351 Words   |  30 Pagesnovel is sometimes used interchangeably with Bildungsroman, but its use is usually wider and less technical. The birth of the Bildungsroman is normally dated to the publication of Wilhelm Meister s Apprenticeship by Johann Wolfgang Goethe in 1795–96,[8] or, sometimes, to Christoph Martin Wieland s Geschichte des Agathon of 1767.[9] Although the Bildungsroman arose in Germany, it has had extensive influence first in Europe and later throughout the world. Thomas Carlyle translated Goethe’s novelRead MoreANALIZ TEXT INTERPRETATION AND ANALYSIS28843 Words   |  116 Pagesï » ¿TEXT INTERPRETATION AND ANALYSIS The purpose of Text Interpretation and Analysis is a literary and linguistic commentary in which the reader explains what the text reveals under close examination. Any literary work is unique. It is created by the author in accordance with his vision and is permeated with his idea of the world. The reader’s interpretation is also highly individual and depends to a great extent on his knowledge and personal experience. That’s why one cannot lay down a fixed â€Å"model† Analysis Of Stephen Crane s The Red Badge Of Courage Joshua Lachowicz English 4A Pd.2 Ms.Mastrokyriakos 20, November, 2014 Literary Analysis Wc: 1680 â€Å"A hero is an ordinary individual who finds the strength to persevere and endure in spite of overwhelming obstacles. (Christopher Reeve)† In The Red Badge Of Courage, the author Stephen Crane, analyzes the terms â€Å"hero† and â€Å"being heroic† through the main character’s actions during WWI. Stephen Crane was intrigued with the art of war and battles and to write the novel as accurately as possible spoke to men from WWI. He wrote the novel with such detail and used so many vivid descriptions most literary critics thought he was a veteran when he had never set foot of the battle field. The main character of The Red Badge of Courage Henry Fleming was considered a hero when in reality only really deserves the title at the end of the novel when he was finally heroic Henry’s name has subjective qualities with its meaning â€Å"The first part of his last name Fleme when used as a transitive verb means to flee, run away Fleming means one who puts to flight Fleme also means when used as a verbal substantive means to cause to flee, to drive away (pg 373 sadler)† This all points to the fact that Stephen Crane meant to make him seem at points heroic when he didn’t deserve it until later on doing something heroic and worthy of being called a hero. Henry In the very beginning of the story is scared to be considered a coward. â€Å"Henry is apprehensive lest his name become a slang phrase (pg373 Sadler)†Show MoreRelatedAnalysis Of Stephen Crane s The Red Badge Of Courage 854 Words   |  4 Pageslive their lives around theological ideals. In Stephen Crane s The Red Badge of Courage, Jim s death, life, and even his initials have a greater meaning than just his simple information. When he writes this novel, he includes allegories from the Bible and Christianity because of his religious upbringing. Crane makes Jim out to be a representation of Jesus. He gives Jim Jesus initials, he gives him the same death that Jesus has, and he makes Jim s death, like Jesus , a great impact on othersRead MoreThemes And Symbols In The Red Badge Of Courage992 Words   |  4 PagesSymbols have a huge role in the everyday life. Somebody gives their loved one a red rose to express the love that they have for them. While the bride and the gro om wear white apparels to their wedding to represent the new life, that they are starting together. In the novel, The Red Badge of Courage, written by Stephen Crane, a boy named Henry Fleming learns to face his fears. In the novel, A Separate Peace, written by John Knowles, Gene goes back to his old school and recalls the events that happenedRead MoreThe Red Badge Of Courage1797 Words   |  8 PagesAnalysis of The Red Badge of Courage: Idealization of War Homer once said, Beware the toils of war ... the mesh of the huge dragnet sweeping up the world (War Quotes III). This quote, taken from Homer s famous work, the Iliad, demonstrates the idea that war can be seen in a skewed fashion. Realistic mindsets are the key for soldiers in understanding the truth about war. War is often idealized and viewed in an unrealistic light based on heroic stories and courageous stories of battle. The classicRead MoreThe Red Badge Of Courage2690 Words   |  11 PagesKevin Raynak TAR 103 Eve Bandi Spring 2016 Play Analysis The Red Badge of Courage The Red Badge of Courage is written by Stephen Crane and was published on October 5, 1895. I chose to analyze this specific play because I read a brief plot overview about it, after reading it I thought it had an interesting story and I have always had an interest in the era this story takes place in. This play would be intriguing to an eventual audience because it has a compelling character development in the protagonistRead MoreSymbolic Meaning of the Land in Gone with the Wind6993 Words   |  28 PagesReviewÂ…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…...4 2.1 Brief Introduction of Margaret Mitchell and Gone with the WindÂ…Â…Â…Â…Â…Â…Â…Â…Â…4 2.2 Previous Researches of Gone with the WindÂ…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â….4 2.3 The Views about Sociology of NovelsÂ…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…..5 Chapter 3 Narrative Analysis of the LandÂ…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…...7 3.1 Contextual Meaning of the LandÂ…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…..7 3.2 Social Emotions of Novels of the LandÂ…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…8 3.3 Social Function of Novels of the LandÂ…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…...Â…..9 3.4 Living CircumstancesRead MoreLiterary Criticism : The Free Encyclopedia 7351 Words   |  30 Pagesnovel is sometimes used interchangeably with Bildungsroman, but its use is usually wider and less technical. The birth of the Bildungsroman is normally dated to the publication of Wilhelm Meister s Apprenticeship by Johann Wolfgang Goethe in 1795–96,[8] or, sometimes, to Christoph Martin Wieland s Geschichte des Agathon of 1767.[9] Although the Bildungsroman arose in Germany, it has had extensive influence first in Europe and later throughout the world. Thomas Carlyle translated Goethe’s novelRead MoreANALIZ TEXT INTERPRETATION AND ANALYSIS28843 Words   |  116 Pagesï » ¿TEXT INTERPRETATION AND ANALYSIS The purpose of Text Interpretation and Analysis is a literary and linguistic commentary in which the reader explains what the text reveals under close examination. Any literary work is unique. It is created by the author in accordance with his vision and is permeated with his idea of the world. The reader’s interpretation is also highly individual and depends to a great extent on his knowledge and personal experience. That’s why one cannot lay down a fixed â€Å"model†

Love Is A Smoke Made With The Fume Of Sighs - 1551 Words

Romeo Juliet Reflection â€Å"Love is a smoke made with the fume of sighs.† (RJ 1.1.181) The tragedy of Romeo and Juliet has shown the readers the bitterness along with the passionate love. The messages which Shakespeare tried to bring to the readers made the play be a timeless classic for tragedy. It gives people similar but slightly unlike understandings from the particular point of views. The different movie versions and paintings take inspiration from the original play, but at the same time, they have their own interpretation to emphasize. From the last scene of the play as a whole, they all want to tell people that the impatience and rush will bring illusion on what people really feel, that urgency and lack of communication may make the people who are involved get hurt. More sadly, the most innocent person always gets hurt the most. Zefferelli’s version demonstrates the â€Å"violent love† will have â€Å"violent ending†, and that love brings the mo st damage to the most innocent person involved, which is Juliet. Outside the cemeterial vault where Juliet’s â€Å"body† was placed, it is very foggy and dark, there are only a few torches around. Inside the vault, Juliet is surrounded by darkness, dust, and her ancestors’ bodies and skeletons. It’s easy to conclude how much Juliet has sacrificed for her love. As a not yet 14-year-old girl, Juliet has to stay in such a terrifying place by herself and she has no other choice. Romeo was too eager to seeShow MoreRelatedComparison Of Wuthering Heights And Othello 1443 Words   |  6 Pageshow love is explored in ‘Wuthering Heights’ and ‘Othello’ The theme of love is found throughout the complete history of literature and is still being explored in a vast majority of works today. It is a theme that brings strong emotions to both the characters and the audience. â€Å"Love is a smoke made with the fume of sighs†, an extract from Shakespeare’s ‘Romeo and Juliet’ is one of the examples of this love throughout literature. This quote shows the negative side of love, â€Å"made with the fume of sighs†Read MoreHOW SHAKESPEARE PRESENTS ROMEO‚Äà ´S FEELINGS IN ACT 1 SCENE 1 AND ACT 2 SCENE 2893 Words   |  4 PagesHOW SHAKESPEARE PRESENTS ROMEO’S FEELINGS IN ACT 1 SCENE 1 AND ACT 2 SCENE 2 Love is an important theme in most of Shakespeare’s play, including in Romeo and Juliet because love is a stronger force than all the animosity and forces of fate in Romeo and Juliet. In Romeo and Juliet, Shakespeare’s play, Shakespeare explores Romeo’s change in attitude to love between Rosaline and Juliet. In Act 1 Scene 1 Shakespeare introduces us to Romeo’s passionate desire towards Rosaline through the use of oxymoronRead MoreThemes Of Romeo And Juliet 882 Words   |  4 PagesCareful With Love: Themes Through Figurative Language in Romeo and Juliet William Shakespeare was a 16th century poet and playwright who wrote many famous plays, poems and sonnets. One of the most famous of these is Romeo and Juliet. In the play Romeo and Juliet, William Shakespeare uses foreshadowing, metaphors, hyperbole, personification, and other literary devices to prove that love is unstable and can be hazardous. In the play Romeo and Juliet, two young people fall in love, however theyRead MoreLove Is The Most Miracle Drugs1098 Words   |  5 PagesLove is the most miracle drugs in the world. It gives people a dream in which they can fly without wings and see everything colorful. With passion, people have no limit and they can do everything. However, when the drugs is ended, it makes life painful. William Shakespeare said in Romeo and Juliet play, â€Å"Love is a smoke and is made with the fume of sighs.† It refers that love likes a smoke, touches the eyes, and makes people cry. Emily, a character in the story of William Faulkner â€Å"A rose for Emily†Read MoreThe Dramatic Significance of Act 1 Scene 5 of Romeo and Juliet1328 Words   |  6 PagesThe Dramatic Significance of Act 1 Scene 5 of Romeo and Juliet This scene is very important to the whole play of Romeo and Juliet. Mainly because its where Romeo and Juliet first meet and fall in love, we also see tybalts anger which shows us the obstacles that will become a problem in Romeo and Juliets relationship. In a usual Shakespeare tragedy the main character that is noble of birth has a flow, which brings about their downfalls and death of others. Romeo Read MoreWilliam Shakespeare s Romeo And Juliet1225 Words   |  5 Pages Love is everywhere. It burns in the hearts of adolescents, softens the souls of sadistic men, and murmurs between old, happy couples. However, when asked, every individual has their own idea of what love is. The play Romeo and Juliet by William Shakespeare explores the many different perspectives of love through a multitude of characters, each unique in their own way. The comedic tragedy tells the story of two young lovers, Romeo Montague and Juliet Capulet, who come from feuding families inRead MoreThe Social Conventions Of William Shakespeare s Romeo And Juliet1181 Words   |  5 Pageswere meant be  more fragile and not equal to men  making  men more  possessive of them. Women were expected to be married to who their family chooses. This is decided by wealth, status, and if the husband would be a good addition to the family, not by love. Juliet’s father is wanting to make the decision fo r Juliet to marry Paris not because of his daughter’s happiness but because he wants to pass on his wealth and become a better family in status â€Å"Hang thee, young baggage, disobedient wretch! / I tellRead MoreThe Death Of A Black Slave Clearing A Table1260 Words   |  6 Pagesnodding in agreement. â€Å"They’re not even worth the trouble of feeding and clothing them,† the patron responds, causing the bartender to chuckle. The bartender casually lights a hand rolled cigar. The aroma of smoke fills Kevin s nostrils, causing him to suppress a cough. Blowing smoke, the bartender asks Kevin, â€Å"What’s your story? I haven t seen you around here before. You married?† Kevin sips his drink. â€Å"I’m married, but I haven t seen her in years.† â€Å"In years? Are you guys still togetherRead MoreWilliam Shakespeare s Romeo And Juliet1587 Words   |  7 Pagesplain, good son, and homely in thy drift; 1115 Riddling confession finds but riddling shrift. Romeo. Then plainly know my heart s dear love is set On the fair daughter of rich Capulet: As mine on hers, so hers is set on mine; And all combined, save what thou must combine 1120 By holy marriage: when and where and how We met, we woo d and made exchange of vow, I ll tell thee as we pass; but this I pray, That thou consent to marry us to-day. Romeo also shows his good communicationRead MoreHow Does Shakespeare Present the Theme of Love in `Romeo and Juliet`?2542 Words   |  11 PagesThe Theme Of Love in `Romeo And Juliet`? In the play `Romeo and Juliet` the writer William Shakespeare uses the theme of love as a main feature to push the story along. Presented are a plethora of variations of love including family love, true love and courtly love. This essay aims to analyse these three types of love chosen. Family love or loyalty is evident throughout the storyline. It is observed when Romeo discusses his depression with his cousin, Benvolio. Romeo describes love using the words

Air Pollution Continuously Affects The World - 1002 Words

Ahmad Abdulrahim Professor Rayan ENG 114 Dec.3.2014 Air pollution Air pollution continuously affects the world in ways that are both invisible and visible. Human beings have a tendency of forgetting how harmful air pollution can be. Therefore, there is less attention about the future impacts such as global warming, health problems, damages of the ecosystem and natural habitats being destroyed. The least amount of effort that is being put into ensuring the future of the earth is better in order for living organisms to continue living in harmony. One major source of air pollution is the manufacturing industries; they pump different types of poisonous gases into the air. Legislations to limit air pollution is often met with resistance, from court cases to counter legislations sponsored by the big multinational manufacturing companies. In this essay, I will argue as to why stringent legislation needs to be enacted to limit air pollution form these industries by describing the effects of air pollution and giving some control measures that can be used. Air pollution can be described as the contamination of the atmosphere, i.e. presence of artificial and natural substances that impact on the well-being of any living organism. Also, it can be defined as a situation whereby contaminants impact on the artifacts and structures or esthetic sensibilities such as smell or visibility. The majority of the artificial impurities is injected into the air close to the earth’s surface. TheShow MoreRelatedDoes The Origin Of Clothing Impact Global Sustainability?1336 Words   |  6 Pagesmarket [A]. From sweatshops to pollution, the origins of our clothing have a huge impact on global sustainability whether it be on the economy or the environment [D]. The affects that it has on the global society is continuously getting worse and will eventually get to a point where the damage on the environment and the economy can no longer be reversed. The origins of clothing directly impact global sustainability because it promotes poverty in many areas of the world thus exploiting the economy,Read MorePollution is Destroying Our Planet Essay821 Words   |  4 Pagesexperiences you can have in this world. You don’t take notice of the true beauty it brings, instead you overlook it and all you see is cold mornings and school. But what if one day you wake up and it’s all gone? Then you would have wished you appreciated it more. You never realise how much you take for granted until you’ve lost it. Pollution is destroying our planet, through our air, water and land. When will you realise how much your planet does for you? Above all, air pollution is threatening all lifeRead MoreIndia s Development Of Tourism1319 Words   |  6 PagesUS$100 billion in 2008 and that is expected to increase to US$275.5 billion by 2018 at a 9.4% annual growth rate and maintains the â€Å"Incredible India† campaign . According to World Travel and Tourism Council ,India will be a tourism hotspot from 2009-2018, as per the Travel and Tourism Competitiveness Report 2009by the World Economic Forum ,India is ranked 11th in the Asia Pacific region and 62nd overall. It is ranked the 14th best tourist destination. Tourist Attractions in India: India is a countryRead MoreAir Pollution in My Hometown1387 Words   |  6 Pages In the past few months, my hometown has suffered severe air pollution problems. The smog caused by pollution has existed for years in major cities in China, including Beijing, Shanghai and my hometown. Most of urban areas in middle and northern China are struggling with air pollution, even some tropical regions could be affected. Surrounded by the fantastic fresh air in Seattle, I felt frustrated about the bad pollution problems in China. Every time I enjoy the beautiful skyline and sunshine inRead MoreBusiness Analysis : Owning A Business1508 Words   |  7 Pagesothers besides the business itself. Corporations have an abducting amount of authority, overpowering many businesses, releasing excessive pollution, and affecting the planet and nations health tremendously. We might not like the idea of paying taxes, but without it, democracies will struggle to function, and will be unable to provide public services. This affects both rich and poor nations, alike. â€Å"Individuals and companies all have to pay taxes, but some of the world’s wealthiest individuals and multinationalRead More Human Impact On The Environment857 Words   |  4 Pageshabitat for some plants. In some areas, areas of woodland and have been destroyed to make room for expanding farmland. â€Å"The catalogue of destruction of wildlife and habitat makes depressing reading. Figures reveal that since the Second World War, our nation has lost: 95% of traditional hay meadows; 99% of lowland heaths; 80% of chalk downland; 80% of limestone grasslands; 80% of fens and mires; 90% of lowland ponds; 50% of ancient lowland woods; 150Read MoreEssay On Alternative Energy Resources1714 Words   |  7 Pagesdestroyed by humans. Over time, the United States of America has developed new ways of producing electricity to keep the country running. However, time has revealed to citizens that the current, majorly-used resources cause a lot of issues, such as pollution and inconvenient economic trends. Therefore, it is time for a change in how the country manufactures electricity compared to how it is produced today, so that our planet and people will have a better, brighter future. Why Fix it if it isn’t BrokenRead MoreEnvironmental Impacts of Tourism1563 Words   |  7 PagesNEGATIVE ENVIRONMENTAL IMPACTS AND SOLUTIONS Air Pollution and Water Resource Transport by air, road, and rail is continuously increasing in response to the rising number of tourists and their greater mobility, as tourism now accounts for more than 60% of air travel. A study estimated that a single return flight emits almost half the CO2 emissions produced by all other sources consumed by an average person yearly. In Nepal, the severe air pollution lingering over capital Kathmandu is repellingRead MoreEssay Technology1449 Words   |  6 Pagesknowledge of using tools and machines to do tasks more efficiently. We use technology to control the world we live in. Since the art of making fire and creating handcrafted tools, our civilization has come a long way. Science and Technology are making advances at an astonishing rate. 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China and Usa a Comparison of Their Monetary Policies Free Essays

string(27) " many other central banks\." University of International Business and Economics China and USA: A comparison of their Monetary Policies. Mid-term Project School of International Trade and Economics BY Rebecca Bogiri Professor: LIN GUIJIN Beijing, China 2 December 2009 China and USA: A comparison of their Monetary Policies. By: Rebecca Bogiri December 2009 Abstract The monetary policies of USA and China is analyzed here from the perspective of their implementing bodies, their choice of instruments, and their means of setting their interest rates. We will write a custom essay sample on China and Usa: a Comparison of Their Monetary Policies or any similar topic only for you Order Now The analysis reveals that there are immense differences between the two countries resulting from the nature and degree of influence from their respective domestic political systems. The paper concludes that China has a complex political economy that represents a hybrid of private ownership and state control. Therefore unlike the USA, its monetary policies are subject to political influence. Keywords: Monetary policy; Monetary policy instruments; Balance Sheet; China; USA Author’s email: becky. bogiri@gmail. com ContentsPage Abstract †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 1 Introduction †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 3 USA Monetary Policy †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 3 China Monetary Policy †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 7 Comparison of China and USA’s monetary policies †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 9 Conclusion †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã ¢â‚¬ ¦Ã¢â‚¬ ¦. 10 References †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 11 1. Introduction Monetary Policy is the process by which the government, central bank, or monetary authority of a country controls (1) the supply of money, (2) the availability of money, and (3) the interest rate, in order to attain a set of objectives oriented towards the growth and stability of the economy. This paper refers the above theme to two countries: China and USA. As such, there are three broad objectives. The first is to discuss monetary policy generally as carried out in the USA. The second is to discuss monetary policy generally as it is carried out in China. The third is to compare and analyze the way monetary policy is implemented in the two countries. 2. USA Monetary Policy How is the Federal Reserve structured? The Federal Reserve System (called the Fed, for short) is the nation’s central bank. It was established by the Federal Reserve Act[1] and consists of the Board of Governors in Washington, D. C. , and twelve Federal Reserve District Banks. The Congress structured the Fed to be independent within the government. Therefore although the Fed is accountable to the Congress and its goals are set by law, its conduct of monetary policy is insulated from day-to-day political pressures. This reflects the conviction that the people who control the country’s money supply should be independent of the people who frame the government’s spending decisions. What makes the Fed independent? Three structural features give the Fed independence in its conduct of monetary policy: the appointment procedure for Governors, the appointment procedure for Reserve Bank Presidents, and funding. Appointment procedure for Governors:  The seven Governors on the Federal Reserve Board are appointed by the President of the United States and confirmed by the Senate. Independence derives from a couple of factors: first, the appointments are staggered to reduce the chance that a single U. S. President could â€Å"load† the Board with appointees; second, their terms of office are 14 years–much longer than elected officials’ terms. Appointment procedure for Reserve Bank Presidents: Each Reserve Bank President is appointed to a five-year term by that Bank’s Board of Directors, subject to final approval by the Board of Governors. This procedure adds to independence because the Directors of each Reserve Bank are not chosen by politicians but are selected to provide a cross-section of interests within the region, including those of depository institutions, nonfinancial businesses, labor, and the public. Funding:  The Fed is structured to be self-sufficient in the sense that it meets its operating expenses primarily from the interest earnings on its portfolio of securities. Therefore, it is independent of Congressional decisions about appropriations. How is the Fed â€Å"independent within the government†? Even though the Fed is independent of Congressional appropriations and administrative control, it is ultimately accountable to Congress and comes under government audit and review. Fed officials report regularly to the Congress on monetary policy, regulatory policy, and a variety of other issues, and they meet with senior Administration officials to discuss the Federal Reserve’s and the federal government’s economic programs. The Fed also reports to Congress on its finances. Who makes monetary policy? The Fed’s FOMC (Federal Open Market Committee) has primary responsibility for conducting monetary policy. The FOMC meets in Washington eight times a year and has twelve members: the seven members of the Board of Governors, the President of the Federal Reserve Bank of New York, and four of the other Reserve Bank Presidents, who serve in rotation. The remaining Reserve Bank Presidents contribute to the Committee’s discussions and deliberations. In addition, the Directors of each Reserve Bank contribute to monetary policy by making recommendations about the appropriate discount rate, which are subject to final approval by the Governors. Objective of Monetary policy Monetary policy has two basic goals: to promote â€Å"maximum† sustainable output and employment and to promote â€Å"stable† prices. These goals are prescribed in a 1977 amendment to the Federal Reserve Act. In the long run, the amount of goods and services the economy produces (output) and the number of jobs it generates (employment) both depend on factors other than monetary policy. These factors include technology and people’s preferences for saving, risk, and work effort. So, maximum sustainable output and employment mean the levels consistent with these factors in the long run. But the economy goes through business cycles in which output and employment are above or below their long-run levels. Even though monetary policy can’t affect either output or employment in the long run, it can affect them in the short run. For example, when demand weakens and there’s a recession, the Fed can stimulate the economy temporarily and help push it back toward its long-run level of output by lowering interest rates. That’s why stabilizing the economy, or smoothing out the peaks and valleys in output and employment around their long-run growth paths—is a key short-run objective for the Fed and many other central banks. You read "China and Usa: a Comparison of Their Monetary Policies" in category "Papers" USA Federal Reserve – Balance Sheet |ASSETS |LIABILITIES |Gold and Foreign Exchange |Currency | | |Held by public | | |Vault cash | |Federal Reserve Credit |Bank Deposits | |Loans Discounts | | |Government Securities | | |Other credits | | Source: Federal Reserve Bulletin, May 1996. Monetary policy instruments The Federal Reserve has three instruments for controlling the money supply. They are: 1. Open Market Operations 2. The discount rate; and 3. The required reserve rati o. When using Open market operations, the Fed buys or sells government securities to affect the level of the money supply. For example, if the Fed wishes to increase the money supply by $2 million, it will purchase government securities worth $ 2 million. The Fed’s assets increase by $ 2 million under the securities heading. In order to pay for the government security, the Fed writes a check on itself. In return for the bond, the seller receives a check instructing the Fed to pay the seller $ 2 million. The seller then takes the check to his bank, which credits the depositor with $ 2 million, and then deposits the check at the Fed. The bank has an account with the Fed, which is now credited with $ 2 million. Thus the Fed’s liabilities increase by $ 2 million under the heading of bank deposits, as the commercial bank has just increased its reserves by $ 2 million which are held by the first instance as a deposit at the Fed. Another monetary policy instrument used to affect the level of the money supply is the Discount rate, which is the interest rate charged by the Fed to banks that borrow from it to temporary needs for reserves. Increasing the discount rate discourages banks from borrowing from the Fed, while lowering the rate encourages banks to borrow from the Fed and thus increase the money supply. The required reserve ratio refers to the percentage of total deposits that the Fed requires individual financial intermediaries to keep at the Fed as reserves. The significance of the required reserve ratio is that it affects the money multiplier, and thus the level of the money supply. For example, if the Fed wants to increase the money supply, it can do so by reducing the required reserve ratio. Because there are now less reserves and more money is available for the banks to be able to meet their customer’s demand for cash. This increases the money multiplier, which also has a positive effect on the level of the money supply. Required reserves do not pay any interest, so increases in the required reserve ration has undesirable side effects on bank profits. Open market operations are nearly always the favored tool of choice by the Fed. The Fed Open Market Operations in 2008 summarizes all monetary policies and tools used by the Fed for that year. The two tables below shows the changes in the federal funds target rate, and the primary credit rate, and the interest paid on the required reserves and excess reserve balance.. These were operational measures taken by the Fed to influence the Federal funds rate. It is evident that the Fed rapidly and continually decreased the federal funds rate and the primary credit rate throughout 2008. Furthermore, on October 8th 2008 the Fed started to pay interest on despository institutions’ required and excess reserves balances as authorized to under the Financial Services Regulatory Relief Act[2]. [pic] [pic] 3. China Monetary Policy Body in charge of Monetary Policy: Monetary policy in China is conducted by the People’s Bank of China. Article 12 of the Law of the People? s Republic of  China  on the People? s Bank of China provides † the People? s Bank of China is to establish a monetary policy committee, whose responsibilities, composition and working procedures shall be prescribed by the State Council and shall be filed to the Standing Committee of the National People? s Congress. The Monetary Policy Committee shall play an important role in macroeconomic management and in the making and adjustment of monetary policy. â€Å" Rules on Monetary Policy Committee of the People? s Bank of China stipulates that the Monetary Policy Committee is a consultative body for the making of monetary policy by the PBC, whose responsibility is to advise on the formulation and adjustment of monetary policy and policy targets for a certain period, application of monetary policy instrument, major monetary policy measures and the coordination between monetary policy and other macroeconomic policies. The Committee plays its advisory role on the basis of comprehensive research on macroeconomic situations and the macro targets set by the government. The Monetary Policy Committee is composed of the PBC? Governor and two Deputy Governors, a Deputy Secretary-General of the State Council, a Vice Minister of the State Development and Reform Commission, a Vice Finance Minister, the Administrator of the State Administration of Foreign Exchange, the Chairman of China Banking Regulatory Commission, the Chairman of China Securities Regula tory Commission, the Chairman of China Insurance Regulatory Commission, the Commissioner of National Bureau of Statistics, the President of the China Association of Banks and an expert from the academia. The Monetary Policy Committee performs its functions through its regular quarterly meeting. An ad hoc meeting may be held if it is proposed by the Chairman or endorsed by more than one-third of the members of the Monetary Policy Committee. Objective of Monetary policy: The main objective of the Chinese monetary policy is to maintain the stability of the value of the currency (the Renminbi), and thereby to promote economic growth. People’s Bank of China – Balance Sheet ASSETS |LIABILITIES | |Credits to FI |Deposits of FI | | |Central Bank Reserves | | |Excess Reserves | |Foreign Exchange Reserves |Central Bank Bills | |Securities |Deposits of Treasury | | |Currency in Circulation | Source: AE502 Macroeconomic Analysis Monetary Policy Instruments The People’s Bank of China in conducting Monetary policy has several instruments at its disposal which include: 1. The reserve requirement ratio 2. The Central Bank base interest rate 3. Rediscounting 4. Central Bank Lending 5. Open Market Operations 6. Other policy instruments as specified by the State Council In essence, the monetary instruments listed above correspond to the descriptions given under the Fed’s monetary policy heading. However, the main tool of choice for the PBC is the reserve requirement ratio. For example, in the PBC 2008 Annual Report on Monetary Policy it was reported that in order to sterilize excess liquidity in the first half of 2008, the reserve requirement ratio was decreased cumulatively by 3 percentage points on 5 occasions. Furthermore, a lower required reserve ratio was applied to rural credit cooperatives (RCCs) and financial institutions in the quake-hit areas. Furthermore, in the second half of 2008 with the heightened international turmoil and in order to ensure ample liquidity in the banking system, the PBC further reduced the required reserve ration of financial institutions on another four occasions resulting in a cumulative decrease of 2 percentage points for large financial institutions, and a cumulative decrease of 4 percentage points for smaller financial institutions. According to PBC calculations, by the end of 2008 a total of 800 billion yuan of liquidity was released into the economy. The choice of the reserve requirement ratio as the mail policy instrument is not coincidental to China which runs a high current account surplus. There is a large and growing demand for the RMB, and to maintain the RMB at the desired level the PBC issues RMB to meet this demand thereby increasing the money circulating in China. To keep inflation and economic growth under control, the PBC sterilizes its foreign exchange market interventions by buying back some of the RMB it issued to buy US dollar. In particular, it does so by selling low yield government securities to state-owned banks. So far, the banks have been able to absorb those low yield bonds in part because the interest rates paid on them bank deposits are also maintained at artificially low rates. Nonetheless, the increases in foreign reserves are not fully neutralized. Over the last five years broad money supply in China has been growing at above 15% per annum while real economic growth has averaged about 10. 5%. [3] Furthermore unlike more developed market economies, China is reluctant to raise domestic interest rates to slow its domestic growth. Doing so might mean attracting more capital inflows, which would in turn, require further money issuance to stabilize the exchange rate. That is precisely why the PBC instead changes the reserve requirement ratio on an ongoing basis to control the expansion of money and credit. 4. Comparison of China and USA’s monetary policies There are three main differences between China and the United States where monetary policy is concerned: independence of the monetary policy implementing body, choice of instruments to use in implementing monetary policy, and direct or indirect means of setting interest rates to effect monetary policy. Furthermore, these three differences are inter-related and country specific. The first major difference between the Federal Reserve System (the Fed) and the People’s Bank of China (PBC) concerns their independence from national politics. The intention of Congress when designing the Federal Reserve Act was to keep politics out of monetary politics. The Fed is totally independent of other branches and agencies of the government. Furthermore, it is self financed and therefore is not subject to the congressional budgetary process. On the other hand, the PBC is not independent from national politics in China. The PBC reports directly to the State Council which serves as China’s cabinet as well as its highest executive body. Moreover, monetary policy in China is aimed at limiting the appreciation of the renminbi (RMB), while eeping economic growth at a sustainable pace and inflation under control plus preserving a fragile banking system. The Fed in contrast implements a monetary policy that has a dual objective of maximum employment and price stabilit y. The second difference regards the choice of the monetary policy instruments used by the Fed as opposed to the PBC. The choice of instruments used in implementing monetary is essentially the same, except that the PBC has the an additional instrument; namely â€Å"additional instruments as specified by the State Council. † It is therefore no surprise that this ‘extra instrument’ arises from the lack of independence on the part of the PBC. The third difference between the Fed and the PBC lies in the way they set the interest rates. The Fed sets its federal funds rate indirectly by setting a specified target rate and then using the the tools of monetary policy (open market operations, discount window lending, and reserve requirements) to achieve that target rate. As a result, the changes in the federal fund rates trigger a chain of events that affect other short term interest rates, long term interest rates, the amount of money and credit in the economy, plus other macro-economic variables such as employment, growth and the prices of goods and services. In contrast, the PBC has a direct influence on its interest rate because of the extra instrument described above. Because there is provision for other policy instruments as specified by State Council, this allows the PBC to set interest rates directly, and thus have a direct impact on the its balance sheet. 5. Conclusion There are major differences in monetary policy and central banking in China and the USA. China has a complex political economy that represents a hybrid of private ownership and state control. Therefore, the PBC’s monetary policies, choice of instruments and methods of implementation are quite different from that of the Fed. Monetary policy in China aims at curbing the appreciation of the RMB while keeping economic growth at a sustainable pace, inflation under control, and preserving a fragile banking system. This is contrasted with the Fed’s monetary policy with the dual objective of maximum employment and price stability. Different monetary policy objectives, coupled with the degree of political independence on the part of the Fed and the PBC greatly influence the choice of instruments used and the method of implementing monetary policy in the two respective countries. 6. References Federal Reserve Bank of New York Domestic Open Market Operations During 2008 Federal Reserve Bank of New York: â€Å"Annual Report Domestic Open Market Operations during 2008† Federal Reserve Statistical Release 19 November 2009 Ian Sheldon, â€Å"US-China Trade Policy: Who gains from a rise in the Yuan? † at http://aede. osu. edu/programs/Anderson/trade Luc de Wulf and David Goldsbrough, â€Å"The Evolving Role of Monetary Policy in China†, IMF Staff Papers WP/04/125 Michael Moskow and Cathy Lemieux â€Å"China up close: Understanding the Chinese economy and financial system†, at www. chigacofed. org People’s Bank of China Monetary Policy Annual Report 2008 Peter Stella, â€Å"The Federal Reserve System Balance Sheet: What Happened and Why it matters† IMF Staff Papers WP/09/120 Financial Services Regulatory Relief Act 2006 (USA) Federal Reserve Act 1913 (USA) Law of the People’s Republic of China on the People’s Bank of China 1995 (China) http://www. frbsf. org/publications/federalreserve/monetary/structure. html http://www. pbc. gov. cn/english/huobizhengce/MPC. asp http://en. wikipedia. org/wiki/Monetary_policy ———————– [1] 1913 [2] 2006 [3] China close up (2008) How to cite China and Usa: a Comparison of Their Monetary Policies, Papers

Global Business and Organizational Excellence †MyAssignmenthelp.com

Question: Discuss about the Global Business and Organizational Excellence management. Answer: Introduction: Nestle is considered to be one of the largest companies which has its branches in different countries. Each year in Australia, Nestle is launching some of the new products which are becoming famous among all the targeted audiences. In this year, NESTLE decided to launch a new range of Kit Kat (Nestle.com.au 2017).The Melbourne Chocolatory is coming up with new range of kit kat flavors last year and in the year 2017, NESTLE is launching three new flavors of Kit Kat name Mint ice cream, Caramel Burst and Sea Salt, Ganache and Espresso Biscuit. These are the new innovative forms of Kit Kat that Nestle is thinking of launching (Nestle.com.au 2017). On the other hand, Peter brand has targeted to launch ice cream flavor in the flavors of Arnotts biscuit. Peters ice cream and Arnotts biscuits grouped up to invent the four traditional flavors. Peter always looked forward as well to explore new ways to deliver ice cream by using the latest technology. Therefore, both the companies play signif icant role in terms of delivering new products and satisfy the customer needs (Peters.com.au 2017) Nestle with its three different flavors of Kit Kat made a marketing strategy so that the production of the company improves. Peters also has come up with a new product of launching along with Arnott, which is a part of the marketing strategy and enhancing the production. NESTLES target audience is the children and teen agers from the year 10-20 years old (Nestle.com.au 2017; Payaud 2014). Nestle already shares a good reputation having good strength of marketing strategy as Nestle brings is having a reputed brand. Moreover, the to see Australia from demographic point of view, the number of children of this age group between 10-20 years old are increasing in number (Nestle.com.au 2017; Payaud 2014).With the increase of such population group, the importance of the product would also increase with the rise of demands and meeting the satisfaction of the buyers, who wants to try out different flavors of chocolates. To talk about the channel differentiation, Nestle generally reach their pro ducts through the expert market salesman and effective transportation, so that the products reach their respective targeted customers. Nestle in order to promote new products advertise those products and also through the promotion of sales. Therefore, it will be a success for Nestle once again if the implementation process goes well (Nestle.com.au 2017; Payaud 2014). Peters on the other hand is also one of the famous ice cream brands in Australia. It has grouped with Arnott to launch new ice cream in the places of super market management (Peters.com.au 2017). The target audience is for the audience from 15-40 years of people and for those people who loves sweet. The companys main motive behind launching this product is that the flavor of the ice creams name Arnot Vovo or Wagon wheels would bring back the childhood especially for those who are above 35 years of old (Peters.com.au 2017). The launch is meeting the sentiment of the people and moreover, the company also like nestle is having a good channels where the experts can deliver the products to the desired people. The summer season in Australia is more favorable for the people to buy the ice creams and fun having them under the basking sun (Peters.com.au 2017; Baker 2014). There is a huge dramatic transition. Different countries are standing on stages in response to the change in demography. The developed countries are going through the process of ageing and also by the year 2020, the other developing countries in Central Europe, East and South Asia would go through the process of ageing (Armstrong et al 2015). However, there is a decrease demographic transformation, it is important to consider the possibility of the enhancing of the populations belonging to the working age group in the upcoming decades. The demographic trends in the world include demand trends, external factors and other supply trends. These trends also leave a deep impact on the workings of the International market (Armstrong et al 2015). In the sphere of the trends of demand, more than billions of consumers are coming up each year in this earth and this would lead to the increase of more international products depending upon the increase of demands. The need for services will rise too which would finally give a boost to the economy. Beside this, there are also migration taking place which where the demographics are shifting. People are not subjected to stay only in a particular geographical place; people are migrating from one place to another in search of good employment opportunities in the prestigious sectors of the country (Liu 2013). The rise of the digital consumers is also happening, where the world is going global through the usages of technological innovation, focus and innovation are to be made in the ex pansion of trade, the room is also being utilized to secure the segmentation of value (Neelankavil 2015). The rise of the globalized era is not only in return influencing the marketing strategy but also the demands or wants of the population completely. Now the question arises, is the demography influencing markets or the vice verse? In the trend of supply, there are also many volatile input costs. Along with this, the scarcity in the emerging markets of labor must also be taken into account. Ultimately, the external factors which incorporate the transition in the regimes of the tax system and also the increase of the protectionism of trade are also suffering the transition with the change of demography (Neelankavil 2015). Since a boom happened in the international economy, the organizations are continuously striving to become more productive efficient and also maintaining regulations. However, the trends of demography and their forces generally influence their participation in the global business (Neelankavil 2015). In order to reach the international world also requires more important marketing strategy which enhances the capacity of international trade like APEC, EU and ASEAN. The increasing development of the world would bring improvements in many countries and the availability of the improved technologies as mentioned before are making the markets of China, India, which are evolving with time. Every organizations operation has in mind to get an international recognition management and thus, the international markets are ready to compete with each other to gain competitive advantages in the market (Neelankavil 2015). Industries which are gaining benefits from these sorts of baby boomers include companies such as Toyota, Nestle technology, Swiss Multinational Nike and also some of the other companies which are of home needs (Whitbourne et al 2014). References Armstrong, G., Kotler, P., Harker, M. and Brennan, R., 2015. Marketing management: an introduction. Pearson Education. Baker, M.J., 2014.Marketing strategy and management. Palgrave Macmillan. Liu, M.M., 2013. Migrant networks and international migration: Testing weak ties.Demography,50(4), pp.1243-1277. Neelankavil, J.P., 2015.International business research. Routledge. Nestle.com.au 2017.Home. [online] https://www.nestle.com.au. Available at: https://www.nestle.com.au/ [Accessed 19 Aug. 2017]. Payaud, M.A., 2014. Marketing strategies at the bottom of the pyramid: Examples from Nestle, Danone, and Procter Gamble.Global Business and Organizational Excellence,33(2), pp.51-63. Peters.com.au 2017.Ice Cream Australia | Peters Ice Cream. [online] Peters Ice Cream. Available at: https://www.peters.com.au/ [Accessed 19 Aug. 2017]. Whitbourne, S.K. and Willis, S.L. eds., 2014.The baby boomers grow up: Contemporary perspectives on midlife. Psychology Press.