All Roads lead to China and its economy

All Roads lead to China and its economy The article â€Å"All Roads lead to China† dated 5th December 2009 in The Star Bizweek focuses on Chinas rise as an economic powerhouse, with the stage set to become the largest economy of the world. Continuous rapid economic development till date has placed China right at the heels of United States and Japan. After a market-orientated reform programme in 1970s, China turned into the centre of attraction for foreign investments from all over the world. The nations importance in the global economy is evident with its government policies and local companies actions being closely monitored. The staggering population in China of 1.3 billion provides an attractive customer base besides serving as a cheap labour force. In line with a boom in the manufacturing sector, Chinas demand for raw materials also propels correspondingly. This has not only transformed the way in which commodities are traded, but also led China to indulge in the acquisition of foreign assets and the formation of alliances with resource-rich countries. Despite of downbeats ranging from the low quality of goods produced to the accusation and allegation aimed towards China, the China economy is still going strong with corporations envisioning to compete against other established international players. The introduction of the market-orientated reform programme in 1970s do clearly seems to be a masterful move which has resulted in China enjoying rapid yet encouraging economic developments over the years. In addition, with a much improved and predictable legal system in practice, the republic seems to have strummed the right note in the global economy game, with investments pouring in from different parts of the world. It is indeed amazing to think how the China economy has managed to emerge as one of the dominant force in such short time span. With such thriving potential and capacity of the China economy, no wonder it is by no boast to claim that any business considering itself to be a global player has to enter the China market, as stated in the article. The major advantage that China enjoys and has successfully utilized over the years is the huge population which provides a cheap, appealing labour force for industries, particularly the manufacturing sector. Though China is not able to match with tech-savvy nations such Japan, they have understood the population advantage which they gain over other countries and thus embark on a labour-intensive-centered economy development. On top of that, a competitive surrounding too serves as a catalyst in Chinas economic development. Low wage may seem to be a fair reason to explain Chinas competitiveness, but Kwan (2002) pointed out that the productivity of Chinese workers also has to be taken into account as a factor in Chinas competitiveness. He explains that though China pays low wage for their workers like how Bangladesh and Somalia pay their respective workers, the relatively high productivity of Chinese workers has placed their competitiveness on par with United States. This indicates why till date, there has yet to be any countries able to match up with the cost advantage of companies based or branched in China. Amidst of the advantage discussed above, there are several setbacks occurring concurrently with Chinas economic progress. The first revolves around Chinas very own legal system. Though Chinas legal system has been more consistent and predictable with businesses enjoying a smoother entrance into the republics market, it still has its flaws and could still prove to be an obstacle for companies venturing into China. Recently, BBC (2010) reported a conflict between Google and the Chinese government with the former threatening to pull out of the nation due to cyber attacks and tight surveillance by the Chinese government to limit freedom of speech in the internet. With China continuously imposing tight regulatory and censorship rules over the internet while Google holding firm to its stand of prioritizing moral concerns ahead of businesses, the conflict has demonstrated that Chinas restricted openness will to certain extent hold back the republics potential to expand its economy. Additionally, there is also the factor of quality that China has to seriously look into. The recent years have saw Chinas exports raising safety concerns all around the world. The people worldwide are basically getting cheap goods at the expense of their health and safety. At the same time, the reliability and durability of China-made products have also raised concerns and dissatisfactions from the outside world. From toothpaste to pet food to toys recalled over the years, the quality control in China seemingly to have deteriorated from bad to worse. Of all the quality flops, the most serious case saw tens of thousands hospitalized due to melamine-contaminated dairy products. The scandal not only tarnished the nations image, but it has also puts Chinas credibility and ethical responsibility into question. Moving on, Chinas domination in the global economy will soon be severely tested with the issue of inflation surfacing in line with the prosperous developments. According to Peoples Daily Online (2010), experts have been predicting inflation in 2010 and the challenge lies ahead for Chinas economy to ‘prevent inflation and to control the inflationary expectations. With increased demand for commodities due to rising consumption power, inflation do seem inevitable for China and it would be interesting to see how the Chinese government will deal with this upcoming obstacle. Although Chinas economy has progressed immensely for the past 30 years, there are certain areas that still can be further improved to allow further expansion of the promising market. In the legal matters prospect, China could have given its legal system a thorough review to widen its doors to companies such as Google to encourage more potential investments. On the other hand, China can address to the problem of low quality goods by tightening the quality control regulation to regain consumers confidence towards China-made products. If the relevant problems have been attended and rectified accordingly, it is only a matter of time before China replaces United States at the top of the rankings. References BBC (2010) Google ‘may pull out of China after Gmail cyber attack [Online], Available: http://news.bbc.co.uk/2/hi/8455712.stm [accessed 11 January 2010] Kwan, C.H. (2002) The Myth of China Competitiveness, [Online], Available: http://www.rieti.go.jp/en/miyakodayori/047.html [accessed 11 January 2010] Peoples Daily Online (2010) Experts: Preventing inflation is the biggest challenges for Chinas economy in 2010 [Online], Available: http://english.people.com.cn/90001/90778/90862/6871595.html [accessed 11 January 2010] Bibliography ICIS.com (2007) China product quality under spotlight [Online], Available: http://www.icis.com/Articles/2007/08/06/9049799/china-product-quality-under-spotlight.html [accessed 11 January 2010]

Word-association in Oedipus The King :: Oedipus the King Oedipus Rex

Word-association in Oedipus The King      Ã‚  Ã‚   Let us play a little game, shall we? We have all played this at one point in our lives; it's the word-association game. Think red- you may think apple. Now think green- you may once again think apple. Wait a minute, how can that be? How can two words that are unrelated have the same picture in the mind of an individual? This is the basic idea of perception. Now let us apply this basic concept to the text of Oedipus Tyrannus. The main character, Oedipus, has lived his entire life with basic preconceived notion of his own existence. Sophocles manipulates the audience's perception of Oedipus through oral dramatic presentation. "Lacan insists that dialogue is the place where a certain subject comes into being, or perhaps more properly, where the subject comes into being in a certain kind of way" (Lee 38) Jacques Lacan deals with the perception of individuals as well. However Lacan's perceptions are those dealt with in the mind of his subjects. Let us introduce Oedipus, as the subject, to Lacan the psychoanalyst. Now that the two have met in our minds' we can continue with the forum of one man's perception, Lacan's, of another man's life, Oedipus's. Lacan has two complex theories. The first is the mirror theory. This theory deals with the internal world of the subject, and the phases of the conscious as well as the unconscious mind. The second is the inability to communicate one's desires adequately through the usage of oral communication- language. In both of these simplified concepts we will delve into the mind, and the actions of Oedipus the character. Let us first discuss the mirror stage, with application to Oedipus the man. Within the mirror stage there are five phases. The first of which is the "fragmented body stage." While existing in this stage man is unaware of himself. In this dark, 'lost' state man is unaware of his surroundings as well as himself as a being. Oedipus prior to the opening of the play lives his entire life in this "fragmented" state; he is completely unaware of himself and his actions on his society. In this state Oedipus is caught up in the pomp of his title. The role of King carries an elevated perception of an idealized life (Lee 19). The next movement in the five phases is the "spatial identity.

Contract Law: Frustration Essay

Question Martina owns two houses in Loughchester. In May, she entered into a contract with Loughchester University for it to rent the houses for the coming academic year for use as student accommodation. The University paid Martina  £750 straight away, with the rent to be paid to Martina by the University monthly in arrears. Martina then engaged Roger Roofers Ltd to carry out repairs on the roofs of the houses, to be completed by 23 September, in time for the arrival of the students. She paid Roger Roofers  £1,000, with the balance of  £3,000 to be paid on completion of the work. Consider the effect on Martina’s contracts of the following events. (a) On 1 September, when Roger Roofers had completed work on the first house, but not started on the second, the second house was struck by lightning, causing a fire that destroyed both houses. (b) As in (a), but only the second house was destroyed. The first house escaped damage. (c) As a consequence of an unexpected restriction on student numbers imposed by the government, Loughchester University recruited fewer students for its courses than it had expected and had a surplus of accommodation. It told Martina on 20 September that it would not need to use her houses, and regarded their contract as at an end. It also requested the repayment of the  £750 already paid. ANSWER The doctrine of frustration applies when there is a change of circumstances, after the conclusion of a contract; consequently rendering the contract impossible to perform or depriving the contract of its commercial purpose by the occurrence of an unexpected event not due to the act or default of either party. In the event of a contact being frustrated the contract is discharged at that date. Examples of some of the unforeseen events that have been acknowledged as giving rise to frustration are destruction of the subject matter (Taylor v Caldwell (1863)), government interference (BP Exploration v Hunt (1982)), supervening illegality (Denny, Mott and Dickson v James Fraser (1944)), strikes (The Nema (1982)) and ill health (Condor v Barron Knights (1966)). The Law Reform (Frustrated Contracts) Act 1943 was passed to provide a fair appointment of losses where a contract is discharged by frustration. The main provisions in the 1943 Act are s.1(2), which deals with recovery of money paid or payable prior to the frustrating event (Gamerco SA v ICM/Fair Warning Agency (1995)), and s.1(3), which deals  with benefits given prior to that event. However, although in certain circumstances s 2(3) of the Act allows recovery for benefits conferred prior to the frustrating event, in BP Exploration v Hunt (1979), it was held that the frustrating event has had an effect of destroying the benefit, nothing will be recoverable under s.1(3). Situation (a) In the first situation, the two houses have been destroyed. According to the Implied Term Theory Test in Taylor v Caldwell (1863), the complete destruction of the specific objects necessary for performance of the contract will frustrate it. As regards the contract with the University, for many years it was thought that the doctrine of frustration could not apply to a lease for the reason that a lease created an interest in land and that interest in land was unaffected by the alleged frustrating event – Cricklewood Property Investment Trust v Leighton’s Investment Trusts Ltd (1945). However, this view was rejected by the House of Lords in National Carriers Ltd v Panalpina (Northern) Ltd (1981), it was held that a lease could be frustrated if intended use of the land became impossible. Therefore in line with this, the use of the land for the accommodation of the students was impossible to use again. Consequently the University’s obligation to pay rent will be disch arged. However can it recover the  £750 that it has already paid? According to S.1(2) allows money paid prior to the frustrating event to be returned, whether or not there is a total failure of consideration, and monies due prior to the date of frustration cease to be payable. S.1 (2) also allows for the recovery or retention of money to cover expenses incurred in relation to the contract. The extent of such an award is at the discretion of the court and is limited to the amount paid or due to be paid before the frustrating event. On the other hand, Martina will argue that she has spent money preparing the houses for student accommodation, and that she should therefore be able to retain the  £750. However in Gamerco SA v ICM/Fair Warning Agency (1995), it was made clear that just because expenses have been incurred this does not automatically mean that retention of money paid will be allowed. Hence, the court will consider all of the circumstances, before deciding what a just result is. Therefore, on the facts given, Martina may be allowed to retain some or all of the  £500 towards her expenses. Nevertheless, it should be noted that s 1(2) does not  allow her to be awarded more than the  £750 that has already been paid, even if her expenses exceed this amount. The contract between Martina and Roger Roofers will be frustrated, as the work cannot be completed. S.1 (2) provides that money paid prior to the frustrating event is recoverable; therefore allowing Martina to recover the  £1,000. However Roger Roofers may argue that its expenses far exceed the  £1,000 and that the full amount should be retained. Under s.1 (3) a just sum can be awarded by the court to Roger Roofers for the work done on the first house to compensate for this. Yet, under the common law, this would have been impossible, since the decision in Appleby v Myers (1867) established that where the obligation to pay for work does not arise until after the frustrating event, no compensation for work done is recoverable. Thus, Roger Roofers will not be able to recover anything under s 1(3), regardless of the fact that it has done half the work under the contract. Situation (b) Here it involves one house being destroyed, that is, the contract may be frustrated. As per the contract between Martina and the University, the contract can still accommodate students. It was only one house that was destroyed. However, the main issue here will be whether the contract has become ‘radically different’ from what was intended by the parties. The frustrating event rendered the contract impossible, illegal, or radically different from that which was originally agreed to (Davis Contractors Ltd v Fareham (1956)). Reference to cases such as Krell v Henry (1903) and Herne Bay Steam Boat Company v Hutton (1903), the trips round the bay could still be made. Fewer visitors were likely to avail themselves of the opportunity, and therefore the contract to hire the boat for prospective tours was likely to be less lucrative but not impossible nor fundamentally different from the performance agreed. Similarly, the contract between Martina and the University is less beneficial but there is no reason as to why it may be frustrated. Martina could argue that the contract was actually frustrated since otherwise she may be liable for breach in providing only one house, rather than two. Hence, the contract is in fact ‘radically different’, since only half of it can be performed. Thus, the 1943 Act will be applied same as in situation (a). The contract with Roger Roofers is frustrated, since the completion of its work is impossible. However the house on which the  roofing work has been done did survived the frustrating event. Consequently, Roger Roofers will use this to get compensation under s 1(3) of the 1943 Act. As Martina obtained a valuable benefit in that she now has a house with a repaired roof. Therefore, the court will consider the fact that Martina has to something to roger Roofers in addition to the  £1,000 already paid. Given that about half the work has been done, therefore a further  £1,000 might be given to him, to bring her payment up to half the contract price. Situation (c) In this situation, it was the government’s restriction on student numbers that may be regarded as the frustrating event. Therefore, this clearly affects the contract between Martina and the University; hence the contract with Roger Roofers should be disregarded. The government’s intervention can lead to the frustration of a contract. In Metropolitan Water Board v Dick Kerr (1918) involved the requisitioning of property in war time. The issue with the University is that, some students were requesting accommodation, but they allocated them to premises other than Martina’s houses. However, the doctrine of frustration will not operate if the frustrating event was self-induced (Maritime National Fish Ltd v Ocean Trawlers Ltd [1935] AC 524). This limitation to the doctrine will apply even where the choice is simply, as to which contract to breach, as in the Super Servant Two [1990]. In allocating students accommodation other than Martina, the University exercised choice. Therefore the contract is not frustrated. The University has breached their contract with Martina. Consequently she will be allowed to retain the  £750 already paid. Any other losses would be recoverable, subject to the usual rules on remoteness and causation. On the contrary, under s.1(2) which allows money paid prior to the frustrating event to be returned, whether or not there is a total failure of consideration, and monies due prior to the date of frustration cease to be payable; the university might argue that they ought to recover money to cover expenses incurred in relation to the contract. The extent of such an award is at the discretion of the court and is limited to the amount paid or due to be paid before the frustrating event.

Presidential Election Of The United States Essay - 1909 Words

Presidential debates in the Unites States are a hot topic around the world. Even though American voters have the role of choosing the next president, people from many different countries tend to heed interest in the elections, due to the fact that the president of the United States has such an influence in locations around the world. People rely on the media to obtain factual information about the presidential candidates, their political stances, and interests in foreign affairs. The fact that information about the presidential candidates can be distributed worldwide by the media is wonderful. Even though this sounds wonderful, it is possible that statements during the debates, or results from them, can be portrayed with bias by the media, or even censored. So, there is a possibility that the interpretation of the American presidential candidates, by people around the world, may be altered after a debate. This change could be influenced by the debate itself, or by media releasing inf ormation about the debates. This will be performed by showing the effect debates and media have on voters in the United States of America, academic journals regarding censorship in Russian media, and ultimately comparing the results of several of the 2016 presidential debates between presidential candidates Hillary Clinton and Donald Trump, portrayed by the pro Hillary Clinton American News source, the Los Angeles Times, to Russia’s pro Donald Trump Pravda Report. It is a common belief thatShow MoreRelatedPresidential Election Of United States1497 Words   |  6 Pages1596 Presidential Elections Introduction The presidential elections of United States of America take an indirect form where citizens of the U.S who are registered as voters in one of the states in U.S which are usually 50 states, or the District of Columbia, cast ballots for Electoral College members, referred to as electors. 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