Friday, May 15, 2020
The Federal Reserves Role During the Great Depression
The Federal Reserve was faced with the ultimatum of either preserving the gold standard currently in place, or to dent the depression as quickly as possible. Denting the depression would require much easier credit than the latter, but the ââ¬Å"gold standard handcuffed governments around the world (econlib).â⬠After Britain went off gold, higher interest rates initiated by the Federal Reserve followed to ââ¬Å"stem gold outflows.â⬠Once this happened, ââ¬Å"the discount rate went from 1.5 to 3.5 percent,â⬠which was a ââ¬Å"huge increaseâ⬠considering the current situation of the economy. Although the gold standard was not the sole cause of the depression, there is a trace amount of evidence suggesting that it helped foster the depression in that ââ¬Å"once countries abandoned itâ⬠their ââ¬Å"economies usually began to grow again (econlib).â⬠Despite the fact that the actions of the Federal Reserve were not the leading causes of the Depression, it is important to note that the decision to increase interest rates only instigated the crash of 1929, while also highlighting the complications of the gold standard, which then led to its dismantlement and the initiation of slow but sure recovery. â⬠¢ The Dust Bowl With 30 percent of Americans already agitated by the crumbling prices of agricultural goods, the severe drought known as the Dust Bowl, lasting nearly ten years, wiped out farmers crops, and carries with it implications of prolonging the end of the Great Depression. Due to the advantageous agriculturalShow MoreRelatedThe Federal Reserve Is The Central Banking System Of The United States1364 Words à |à 6 Pageshe Federal Reserve is the central banking system of the United States, which controls the monetary policy of the US (Hubbard). When first conceived in 1913 its primary function was to protect banks, but, in part due to the Great Depression, the role the Federal Reserve plays in the economy has evolved into something much more influential. Ben Bernanke, the Federal Reserve chair from 2006-2014, said in a speech in 2002 while he was still just a board member regarding the Federal Reserveââ¬â¢s role inRead MoreThe Federal Reserve1484 Words à |à 6 PagesThere are many thou ghts about the Federal Reserve, some people think it is the biggest thief ever and some other people think that the Illuminati is running the show. Also some people know that the Federal Reserve has saved the economy of the United States a couple of times from depressions. Moreover, economists think that the Federal Reserve saved the U.S. from the most recent depression in 2008. Many people in the U.S. may not know who Alexander Hamilton is; however, any economist or anybody whoRead MoreThe Federal Reserve System ( Money )983 Words à |à 4 Pages^The Federal Reserve System Money, it certainly does make the world go round, and the reason it is able to do so, is because people have trust in this little piece of paper. Around the globe there is no piece of paper that inspires more confidence. Officially, the US Dollar bills are Federal Reserve notes. Every note that is spent or received is part of a complex organization known as the Federal Reserve System. The Federal Reserve System is the integral component that keeps the American bankingRead MoreHistory Of American Economy : The Great Depression Essay1360 Words à |à 6 PagesAmerican Economy: The Great Depression As early as the 1920s, Americans and their leaders were quite confident about their countryââ¬â¢s better future, compared to some of the toughest economic times that the country had gone through, such as the mild economic depression in the early 1820s and the bank panic. In fact, during his election trail, Herbert Hoover shown off Americaââ¬â¢s optimism by citing that the triumph against the poor house was forthcoming. However, the Great Depression erupted at a full forceRead MoreFranklin D. Roosevelt s President Of The United States1546 Words à |à 7 Pagespresident of the United States in 1932, America was in a severe depression. When Franklin Roosevelt took office in March of 1933, President Hoover handed the problems of the Great Depression over to Roosevelt. Upon taking office, Franklin Roosevelt issued a bank holiday which forced all banks to close from March 6 to March 10 while he met with Congress to pass the Emergency Banking Act to allow banks with enough money to r eopen and for the Federal Government to help the banks that did not have enough moneyRead MoreU.s. Government And Federal Reserve927 Words à |à 4 Pagesdownturn since The Great Depression in 1929. During this time the Federal Reserve played a huge role in assuring that it would not turn into the second Great Depression. In this paper, we will be discussing what the Federal Reserve did during this time including a discussion of our nationââ¬â¢s three main economic goals which are GDP, employment, and inflation. My goal is to describe the historic monetary and fiscal policy efforts undertaken by the U.S. Government and Federal Reserve including both theRead MoreFederal Reserve And The 2008 / 2009 Financial Crisis1373 Words à |à 6 PagesFederal Reserve and the 2008/2009 Financial Crisis: What they did and Why In the late 2007, early 2008 the United States and the world was hit with the most serious economic downturn since The Great Depression in 1929. During this time the Federal Reserve played a huge role in assuring that it would not turn into the second Great Depression. In this paper, we will be discussing what the Federal Reserve did during this time, including a discussion of our nationââ¬â¢s three main economic goals which areRead MoreEssay about Federal Reserve Bank 1233 Words à |à 5 PagesFederal Reserve Bank Introduction Federal Reserve System, commonly referred to as Fed, was established in 1913. This was after American congress passed the Federal Reserve Act in December the same year, establishing a new set of institutions which were meant to govern the relationship between banks, the government, and the production of money (Broz 1997 p. 1). The Federal Reserve System divides the nation in 12 districts, each with its own federal reserve bank (Boyes Melvin, 2006). Overall administrativeRead MoreWorld War I And The Great Depression1598 Words à |à 7 Pagescontributed to the attitude that caused overconfidence and helped to spread the Great Depression. When World War I ended in 1918, it had many unforeseen economic consequences. Despite a stable economy when entering the war, the political consequences of World War I helped to spread and exacerbate the Great Depression. After the war, Germany had millions of dollars in reparations to the winning countries. France and Great Britain had massive damage to their countries and cities, all of which requiredRead MoreEssay on The Great Crash 1929 Book Review1602 Words à |à 7 Pagestip that one may be on decline might entice people to sell. The fact that no one really knows what is going to happen one way or the other is inconsequential. John Kenneth Galbraith uses the concept of speculation as a major theme in his book The Great Crash 1929. Galbraithââ¬â¢s portrayal of the market before the crash focuses largely on massive speculation of overvalued stocks which were inevitably going to topple and take the wealth of the shareholders down with it. After all, the prices could not
Wednesday, May 6, 2020
Architecture, Power, and National Identity Essay examples
Having a sense of belonging is one of several fundamental human needs and national identity refers to a personââ¬â¢s sense of belonging to one country with its history, values and traditions. Since achieving independence in 1957, the issue of Malaysiaââ¬â¢s national identity has been in the spotlight due to its strong social, political and economical factors implication. As a multi-cultural country, the search for a national identity is not an easy undertaking as Malaysians consist of different ethnics such as Malay, Chinese and Indian. Each ethnic group contributes their own unique culture and religion, hence making it difficult to form a Malaysian identity. In fact, in September 2010, Prime Minister Najib Tun Razak announced the 1 Malaysiaâ⬠¦show more contentâ⬠¦The term, vernacular architecture, was first used by architectural theorists to describe buildings that seemed not to have been ââ¬Ëconsciouslyââ¬â¢ designed and affected by the intellectual and artistic currents of the Renaissance (Dell Upton, 1983). With the growing presence of globalization and modernization, the pre-industrial building heritage is indeed under threat with modern methods prevailing. In that vein, we are seeing how the ââ¬Å"designs, use and meanings of these traditions change within the concepts of the contemporary processesâ⬠in a globalized world (Lindsay Asquit, Marcel Vellinga, 2006). The societal effects are evident in the negotiation of identity, and the definition and value of key concepts like tradition, modernity and place (Lindsay Asquit, Marcel Vellinga, 2006). One of the most engaging aspects that is relevant to the discourse of how vernacular architecture is tradition. It has been a major theme in writings on vernacular architecture (Al Sayyad, 2004). According to the values Victor Papanek exposed in his theory that ââ¬Å"vernacular architecture is the result of multiple causationâ⬠, tradition as practiced in vernacular architecture can be displayed via a cultural explanation: In a traditional setting, there are many that determine an auspicious date before starting construction, by wayShow MoreRelatedCurrent Issues Of Museums And Galleries Journal1265 Words à |à 6 PagesHowever, the main characteristic is ââ¬Å"identityâ⬠which is the internal and external social forces. Each of us can hold more than one identity whichâ⬠©areâ⬠©expressedâ⬠©collectivelyâ⬠©orâ⬠©individuallyâ⬠©atâ⬠©differentâ⬠©times. In other words, visitors seek a way to fulfill their needs and personalities in a museum with self-reflection and self-interpretation. But, I wonder how can museums adapt to different shifting identities? Do museums need marketing to attract different identity groups? (Image 1) Visiting theRead MoreCultural Awareness. In This Paper, The Socio ââ¬â Cultural1256 Words à |à 6 Pagesculture are explained. Third, a detailed examination of the common cultural characteristics of Iran are presented. Specifically, the physical geography, military and conflict history, weather analysis and civil consideration with more emphasis on ââ¬Ëpowerââ¬â¢ are discussed in detail. Culture and its Meaning Culture, a term used frequently, can be used to represent a multitude of aspects of a society, a region or a country. Typically, culture is defined as the ââ¬Ëcomplex whole of a societyââ¬â¢. The complexRead MoreFunctionalism Of Brazil : Cause Or Style?1623 Words à |à 7 PagesBrazil: cause or style? The premise form follows function was first used by Sullivan in the late nineteenth century and built by Modernist Architecture in Europe in the twentieth century. Reflecting specifically on the Brazilian case, functionalism was an aspect of tension throughout the process of assimilation and appropriation of Modernism as a national language in the twentieth century, because on one side could be an important tool for democratization of accessing to certain programs throughRead MoreModernism And Modernism : Postmodernism And Postmodernism1632 Words à |à 7 Pagespostmodernism, that I hope to find out. Modernism Modernism is a cultural movement has been around ever since the nineteenth century when the arts music architecture literatures were changing where it came after enlightenment where to reject them. The master narratives and Meta narratives fall in the grand theory of history. The culture and natural identity: myths of culture and ethnic origin totalizing explanations in history science and culture to represent knowledge and explain everything. ââ¬Å"CentralRead MoreEssay on The Kiss of the Fur Queen 1398 Words à |à 6 Pagesfunction that it has in society, restricts arts impact. This perspective limits and does not allow for the surfacing of profound effects that art creates. In the Kiss of the Fur Queen, art has power it does not simply exist but has function. The observable function of art in this text is in education, providing identity and finally uniting Gabriel and Jeremiah with their cultural roots. Art educates. This education can be both positive and negative but art can function as an educational tool that hasRead MoreDesign And Design Of Design History1343 Words à |à 6 PagesDesign plays a significant role in people lives. Design contains a range of areas such as: architecture, landscape, fashion and graphic etc. Judging from the large number of exhibition, museum and modern building appears in recent year that people seems to put more emphasis on their visual artistic effect and design. Margolin (1992, P105) said, ââ¬Å"The importance of design history has also been increasingly recognized by design professionalsâ⬠. This means design history is necessary for contemporaryRead MoreEuropean Nations that Were Formed Due to Nationalist Ideas1643 Words à |à 7 Pagesempires. These monarchies had absolute power over their subjects and there was no sense of nationalism or the idea of betterment of the general population. Various social and technological changes helped p ave the way for ideas of nationalism. Although the idea of the creation of the nation state began with the advent of the French Revolution but it took more than a century for the ideas of nationalism to become concrete enough to form the independent national state of France. the concept of NationalismRead MoreHistory and Museum ââ¬â Instilling National Identity and Multiculturalism by display of History in Museum1711 Words à |à 7 Pagespreserving history of a country or a place with educational implication. Museums, as stated by Brown and Davis-Brown (1998, p. 19), ââ¬Å"help to preserve a collective national memory and thence to constitute a collective national identityâ⬠. The way of displaying war photos and different exhibits may have functions of raising national identity and present multiculturalism to audience. This essay will be discussed about how nationalization and multiculturalism presents through history in Chinaââ¬â¢s museum fromRead MoreFresa y Chocolat e and The Borderlands1467 Words à |à 6 PagesIdentity is the essential core of who we are as individuals, the conscious experience of the self-inside. (Kaufman cited in Anzaldà ºa, 1987, p.84) The objective of this essay will be to interpret the contradictions of identity produced in the movie Fresa y Chocolate and The Borderlands. When personal identity, is stifled and shaped by nationalistic discourse. By examining the polarised dichotomies of self-identity, juxtaposed against the internalised and dominant hegemonic discourse of imposed NationalRead MoreAnalysis Of The Project Disappearing Into Night 1361 Words à |à 6 Pagesneighbourhood is situated in the heart of the Msheireb project, a large-scale, inner-city regeneration project inspired by contemporary design processes, yet retaining Qatari cultural character and heritage articulated through city planning and architecture (Law, R. and Underwood K, 2012). The old district of Al-Asmakh, is populated predominately by male economic workers, attracting flows of migrants from African and Asian countries including: Ghana, Somalia, Ethiopia, Benin, Mali, Sudan, Nigeria
Tuesday, May 5, 2020
Heritage and Cultural Industry
Question: Analyse the growth and development of the heritage and cultural industry with special reference to UK.Discuss potential conflicts in the conservation of heritage and cultural resources referring to the case studies. Assess the purpose of heritage and cultural attractions in meeting the needs of different customers.Evaluate the impact of different types of ownership on the management of heritage and cultural sites. Analyse roles and responsibilities of organisations in the heritage and cultural industry.Evaluate methods and media used for interpretation within the heritage and cultural industry for tourists. Answer: Introduction Culture can be defined as the day to day traditions, norms and attitudes of a particular society that one is born in or living in. Over a period of time, cultural values may experience change and vary from other societies surroundings; they may change when an individual involves itself with norms of another place or society. Thus, it can be said that culture is capable of changing with the continue evolvement of technology and industries. However, unlike culture, heritage is incapable of this change. Heritage can be defined as any property or ethic traits that one inherits or is born with. Our heritage is merely reflected in our culture which is nothing but our external display of attitudes and values. Cultural heritage can be defined as the development of way of living by communities that are passed on from one generation to the other; this may be in the form of places, objects, beliefs, values, practices, customs, artistic expressions etc. It is important to understand that cultural heritage is a rather wide concept that can be expressed through various terms such as tangible intangible cultural heritage (Schweitzer, 2007). Similarly, heritage can come in several forms i.e. in the form of natural environments, built environments or artefacts. One needs to understand that the driving force behind the various definitions of cultural heritage remains the need of humans to inform; cultural heritage is simply a creation of humans that simply intends to inform. In order to have a deeper understanding of the cultural heritage, one should be able to recognize cultural heritage as a concept that cannot only be expressed through tangible forms such as landscapes, buildings or artefacts but also through traditions, values, oral history voices. These are occasionally referred to as the forms of intangible cultural heritage. Several cultures gain popularity from the cuisine they serve, the clothing fashion, religious ceremonies, forms of shelter, traditional skills, storytelling, technologies used or performing arts. The protection and conservation of both tangible and intangible forms has become of utmost importance to nations across the globe since both are inextricably bound to each other. The following report aims to discuss the role of heritage and culture within the travel and tourism sector (Nasser, 2003). It aims to provide an understanding of the organisations that are involved in management of heritage and considers the development growth of cultural and heritage industry. For this reason, the report also looks into the potential conflicts that exist within the industry and how technology has influenced this industry. Growth Development of Heritage and Cultural Industry Heritage and culture have become essential tools for economic development that allow for economic growth via attraction of visitors other than the ones residing within the host community. The historical, scientific artistic values offered by a group, region or community, often play a vital role in attracting or motivating its visitors to visit. In other words, such travels are simply encouraged by the cultural environment, natural environments such as landscapes, special lifestyles, values traditions and the visual performing arts, of a given region (McCain, 2003). .A regions cultural heritage may include of natural heritage in the form of landscapes, national parks, coastlines, wildlife, habits, woodlands which indirectly work as attractions for visitors. Similarly, regions also consist of constructed heritage; this simply refers to the built environment within a given community, for instance, museums, historical monuments, sculptures, artefacts, industrial heritage, archaeological sites, transports, theme sites etc. (McCain, 2003). Thus, it is important to understand that cultural heritage overall has a very positive effect on the development of a community. An attractive historic environment is known to be an effective source of benefit especially when attracting external investment in the form of tourism. Research tells u s that the growth of heritage and cultural industry in the UK, over the years, has immensely contributed to the countrys economy. As per the Deloitte Report (2008), an approximate amount of 86 billion Euros is directly retrieved through tourism while approximately 1.36 million jobs are supported (Nasser, 2003). In other words, it can be said that heritage and cultural tourism has significantly resulted in various benefits and is highly essential for the sustainment of UKs economy. In UK, heritage and cultural tourism has become the 5th largest industry due to its vibrant and rich heritage. As per reports, it was revealed that a large number of visitors visiting UK, arrive in the country due to reasons such as history, pageantry, culture and heritage. Thus, suggesting the importance of heritage and culture to the countrys economy and sustainability. The Heritage Lottery Fund report from 2009, suggests an increase of 50% in the number of visitors visiting the country. In reference to a research conducted through survey, it was identified that approximately 73% of the respondents said that are highly likely to visit monuments, buildings, castles when en route to UK. Similarly, 63% of the respondents were highly motivated by the museums, churches, cathedrals the locations that were associated with the Royal family monarchy. Potential Conflicts in Conserving Heritage Culture Tourism is regarded as a positive force that ensures conservation of natural and cultural heritage existing within the host community. We know that tourism has become an essential element when ensuring economical development and success and has several dimensions to it; these may include of cultural, economic, ecological, aesthetic, social, educational and biophysical dimensions. At times, it becomes difficult to achieve any beneficial and successful interaction between the vistors expectations and aspirations; the host communities may also present tourists with potential challenges. Since, natural and cultural heritage operate as major attractions for the purpose of tourism, any poorly or mismanaged tourism may threaten the integrity, characteristics or physical nature of these attractions (McCain, 2003).. Similarly, over a period time, the culture, ecological setting and lifestyle of the host community may degrade resulting in further degradation of quality of experience aimed for tourists or visitors. Several potential conflicts arise when conserving heritage and culture such that in the case of conserving the Victoria Albert Museum in London. Reports suggest that, the worlds largest museum i.e. Victoria Albert Museum that houses approximately 4.5 million objects and spreads over 12.5 acres, similar to other tourist spots, also is on the verge of being threatened by the increasing growth within the tourism sector (Schweitzer, 2007).. As previously mentioned several potential conflicts continue to arise when establishing appropriate conservation of heritage and culture. Some of these conflicts may arise due to the lack of communication and presentation of the importance of the place, to both, the host community and the visitors. In such cases, this may hinder the development any government, public or political funding or support for the purpose of conserving and protecting the place. Additionally, development of tourism in the host community may adversely impact and impose unacceptable changes in the integrity, ecology biodiversity, physical characteristics, culture, economic and local transportation system. For this reason, proper and appropriate integration of protection and management laws is required at both, regional and national level. Furthermore, often tourism programmes are based on insufficient understanding of the complexity of significance of a given tourist spot; this can lead to reduced authenticity and appreciation of the place (Evans, 2008). This imbalance in the program may disrupt the accurate presentation interpretation of the places intangible aspects and cultural expression, further resulting in educating tourists with a narrowed sense of understanding of the host communitys cultural heritage. It is important to understand that heritage communication is of utmost importance and that several issues arise when delivering successful and effect ive heritage communication. For this reason, well trained staffs is required to be recruited together, further complicating the hiring process and giving rise to conflicts regarding who or who not to hire, how or how not to train employs etc. Further adding to the above, conflicts arise when it comes to employment. As previously mentioned, tourism provides financial support to several individuals which in turn effects the nations economy. Often, conflicts arise when integrating a professional system to train its employees. Similarly, conflicts arise when such opportunities are proposed to individuals who may not necessarily belong to the host community. In cases where interpreters and guides from outside the hosting community are used, the employment opportunities for local residents become minimal which often discourages local community from taking any interest in conserving and caring for their own cultural heritage. This may also result in outburst within the host community which may not necessarily be supportive of the governments take on developing tourism and promoting culture. Similarly, there may be cases where distribution, sale and promotion of local products may be neglected, causing the local community to expe rience degradation of social, economic and cultural integrity. Again, they may become unsupportive of the plans that the government imposes, further making it difficult for tourism to develop within the region, similar to that of in the case of Victoria Albert Museum. Purpose of Heritage Cultural Attraction The core purpose of museums like the Science and VA museum is collection management, outreach research. Most of museums provide organisations with a chance to carry out research in natural sciences and display education programs. But above all, they mainly serve the purpose of collecting collections that have been passed down from countless generations above. These collections may of memories of communities, or individuals in both tangible and intangible forms; it is of utmost importance to ensure their preservation for the future generations. Heritage places can be used as educational resources for individuals, allowing them to learn about the places history and understanding the uniqueness of their culture (Nasser, 2003). The Science Museum and Vitoria Albert Museum, apart from their conventional purpose of conserving and preserving cultural heritage, also serve the purpose of educating their visitors with the uniqueness of the cultural norms with UK. The two museums allow cultural promotion and allow visitors from outside the host community to understand the intangible aspects related to the cultural norms of their society. In other words, it can be said that museums exemplify the scientific reasons behind conservation. It is important to note that even this requires specific skills that allow appropriate capture of conservation levels. Conservation an be regarded as both, an art and a science. Museums may not be considered as profitable organisations however their collections hold immense value; it allows the nation to conserve its valued pieces, for the rest of the world to see and appreciate. They allow preservation of an objects original and authentic composition which in turn prompts research. Additionally, the Science and VA Museum serve the purpose of entertaining its visitors. Often tourists visit such places for the reasons of entertainment. The knowledge served by such heritage centres allows visitors to experience culture through a medium different than the conventional books and newspapers (Schweitzer, 2007). The live experience is enjoyed and appreciated by most. For instance, several educational institutes organize day trips to museums for students; such trips are seen as sources of entertainment and allow educational institutes to stir away from the conventional means of educating students. This effort made by educational institutes is encouraged not only by government but also individuals residing within the host community, since it allows the host community to share their experiences and cultural norms with the rest and help promote their sense of tradition and culture with its visitors. Evaluating Impact of Different Ownerships on Management of Heritage Cultural Sites Cultural Heritage management refers to the practice and act of managing cultural heritage. In the recent years, emphasize on the protection and identification of cultural sites has been increased; there is a focus on encompassing concepts of culture that are inseparable from the host community. It is important to understanding that use of heritage sites is a major factor ensuring sustainability within communities and often leads to increased values within the community and social communication. Heritage places can be used as educational resources for individuals, allowing them to learn about the places history and understanding the uniqueness of their culture (European Commission, 2002). The Science Museum and Vitoria Albert Museum, apart from their conventional purpose of conserving and preserving cultural heritage, also serve the purpose of educating their visitors with the uniqueness of the cultural norms with UK Research suggests that several issues in relation to cultural heritage have become apparent; most of these issues are related to the political, religious and economic aspects of tourism and the business of heritage (Santagata, 2002).. Though, it should be noted that these changes however left very little impact on the UK governmental policies regarding cultural heritage. In addition, it was noticed that NGOs had begun to take interest in the decision making policies regarding the regional heritage policies. The continuous development of hierarchies among the heritage sites such as local heritage national heritage and world heritage resulted in several controversies regarding who will ownership of heritage sites i.e. whether there would be an institutional control or public control and if there were any possibilities of scholarly research possibilities. It is important to understand that the future of the cultural heritage of a society is highly dependent on how it is preserved, devel oped and conserved for the long term. Ownership refers to the act or state of possessing something; in the case of cultural heritage, it is quite difficult to establish the ownership since technically there is no particular person who could be in charge; hence, organisations would have to do the work. Though, with the recent controversies it is rather difficult to establish who to give the charge; should they be controlled by the public or institutes and at what level i.e. at national or regional level etc. In case, of ownership it is necessary to ensure that the ownership is in the right hands, since the nations cultural heritage is at stake (Hall, 2001). Before deciding on the ownership, it is of utmost importance that the certain points of consideration are taken into account. For instance, a comparative analysis should be conducted, where the state support system is compared with other alternative funding sources. It should be taken into account the influence of administration of the public on the cultural heritage a long with all the decision making and policy making processes that are involved. Similarly, the control of community and institutes on the cultural heritage should be considered i.e. their management and protection policies. Analysing roles and responsibilities of Organisations Heritage conventions such as the World Heritage Convention or ICOMOS play a vital role in managing the risks that tourism may cause to the Cultural Heritage. In 1972, a convention regarding the protecting of worlds natural and cultural heritage was adopted by UNESCO. This organisation ensures protection, identification, preservation and conservation of the irreplaceable heritages in the world (European Commission, 2002). ICOMOS happens to be one of the three bodies of the World heritage convention that functions as an advisory body and ensures implementation of the convention. It is responsible for evaluating all nominated properties against the basic criteria of having an outstanding universal value. All states or parties involved in ensuring identification, protection, conservation and presentation of cultural heritage, recognise the important to safeguarding heritage for the future for which several resources are used. Such organisations work towards: Adopting a universal policy that allows all natural and cultural heritages to contribute as a relevant function in the host communitys life along with integrating all means of protection into their planning programs. Undertaking any appropriate scientific, administrative, legal technical and financial measure when required for the purpose of protecting, conserving, presenting, rehabilitating and identifying heritage. Retaining from any deliberate measure that may directly or indirectly cause damage to the natural and cultural heritage of the other parties involved with the convention; it becomes they responsibility to help other parties in identifying and protecting their properties (European Commission, 2002). Some of the roles outlined or stated in the objectives of ICOMOS International Cultural Tourism Charter include the following: Ensuring and encouraging all those who are involved in the management of protection and conservation of heritage, to successfully and appropriately communicate the significance of the heritage to its visitors and host community. In other words, it emphasizes the need of accurate heritage communication. Ensuring and encouraging all tourism industries that are involved in the identification, preservation, protection and conservation of heritage to appropriately manage and promote tourism in a way such that it respects and enhances the culture and heritage of the host community. Ensuring and encouraging communication among tourism industries and conservation interest regarding the significance and fragility of heritage collections, places and cultures. The need for establishing a sustainable future for these collections should be conveyed adequately and worked on effectively. Ensuring and encouraging the formulation of policies and plans that allow detailed development of all strategies and goals regarding the appropriate presentation and interpretation of the cultural heritage activities and places, in terrns of conservation and preservation (ERBD, 2003). Additionally, It ensures and encourages others with any relevant interests, obligations and responsibilities to join the organisation and help achieve the outline objectives. It ensures and encourages other organisations along with the tourism industries involved to maintain the integrity of the conversation and management system of cultural heritage. It ensures and encourages all the interested parties to formulate a detailed guideline that allows them to implement principles to particular stances or any requirements by particular communities and organisations (ERBD, 2003). Evaluating Methods Media Use for Interpretation Due to the continous increasing demands of visitors, organisations have begun to focus and emphasis on providing high quality tourism experiences rather than products causing the significance of education and interpretation to rise. It is important to understand that being able to interpret the attractions, stories, history and products of tourism has become an exceptionally important aspect of providing visitors and tourists with a great and positive experience along with becoming a significant educational tool. One should note that education and interpretation can be achieved through use of various methods such as use of self-guided or guided tours, informative brochures, signage, audio information, media displays, interactive displays and information boards. From research conducted on the how to use effective designs to deliver accurate interpretation and education programs and other facilities suggests that: All the information that is required to interpreted and used for the purpose of education should be specific and targeted; it should align with the expectations and demands of the customer, any business, attraction or service. In order to provide visitors with an entertaining and informative means of communication information, interpretive programs that are interactive in nature should be taken up. Several technologies such as ICI technologies are not being used as a means of effective communication with visitors and providing them with all relevant information. These technologies are available for the purpose of disseminating any visitor information. And can be demonstrated using audio-information techniques! The staff recruited for this purpose should be highly trained and should posses customer service skills; they should always remains prepared with strategies that allow communication and promotion of the importance of the cultural heritage being discussed. (Council of Europe, 2007). In context of Heritage and Cultural industry, methods such as self-guided or guided tours, informative brochures, signage, audio information, media displays, interactive displays and information boards, are of utmost importance since they provide visitors with a positive experience that they will take back with them. The use of such medium is highly essential in effectively communicating the true essence of the culture being promoted. For instance, use of brochures for the purpose of educating visitors, is highly effective; organisations can choose what information to put and ensure that the true values of the heritage are being communicated across (Evans, 2008). This avoids any misinterpretation of the cultural heritage, allowing the host community to stir off any of their worries. Similarly, media approaches used, allow effective interpretation and education of the information that is being communicated. Media advertisements catch the true essence of the heritage being promoted and culture being depicted; they allow organisations to put forward the true image that host communities have in their minds, of their heritage. Thus, allowing for accurate and positive interpretation of the cultural values and traditions of the heritage being discussed. These approaches allow organisations to truly show the world and its visitors, who they really are and what their norms are all about. Conclusion Cultural heritage can be defined as the development of way of living by communities that are passed on from one generation to the other; this may be in the form of places, objects, beliefs, values, practices, customs, artistic expressions etc. In order to have a deeper understanding of the cultural heritage, one should be able to recognize cultural heritage as a concept that cannot only be expressed through tangible forms such as landscapes, buildings or artefacts but also through traditions, values, oral history voices (Santagata, 2002).. These are occasionally referred to as the forms of intangible cultural heritage. Several cultures gain popularity from the cuisine they serve, the clothing fashion, religious ceremonies, forms of shelter, traditional skills, storytelling, technologies used or performing arts. The protection and conservation of both tangible and intangible forms has become of utmost importance to nations across the globe since both are inextricably bound to each ot her. Heritage and culture have become essential tools for economic development that allow for economic growth via attraction of visitors other than the ones residing within the host community (Schweitzer, 2007). .A regions cultural heritage may include of natural heritage in the form of landscapes, national parks, coastlines, wildlife, habits, woodlands which indirectly work as attractions for visitors. Similarly, regions also consist of constructed heritage; this simply refers to the built environment within a given community, for instance, museums, historical monuments, sculptures, artefacts, industrial heritage, archaeological sites, transports, theme sites etc. The historical, scientific artistic values offered by a group, region or community, often play a vital role in attracting or motivating its visitors to visit. In other words, such travels are simply encouraged by the cultural environment, natural environments such as landscapes, special lifestyles, values traditions and the visual performing arts, of a given region. Thus, it is important to understand that cultural heritage overall has a very positive effect on the development of a community. An attractive historic environment is known to be an effective source of benefit especially when attracting external investment in the form of tourism. Tourism is regarded as a positive force that ensures conservation of natural and cultural heritage existing within the host community. We know that tourism has become an essential element when ensuring economical development and success and has several dimensions to it; these may include of cultural, economic, ecological, aesthetic, social, educational and biophysical dimensions (Santagata, 2002). Research tells u s that the growth of heritage and cultural industry in the UK, over the years, has immensely contributed to the countrys economy. As per the Deloitte Report (2008), an approximate amount of 86 billion Euros is directly retrieved through tourism while approximately 1.36 million jobs are supported. In other words, it can be said that heritage and cultural tourism has significantly resulted in various benefits and is highly essential for the sustainment of UKs economy. The core purpose of museums like the Science and VA museum is collection management, outreach research. Most of museums provide organisations with a chance to carry out research in natural sciences and display education programs. But above all, they mainly serve the purpose of collecting collections that have been passed down from countless generations above. In other words, it can be said that museums exemplify the scientific reasons behind conservation. It is important to note that even this requires specific skills that allow appropriate capture of conservation levels References Council of Europe. Cultural Routes. 2007. European Bank for Reconstruction and Development (ERBD).2003. Property andTourism, European Commission. 2002. Using Natural and Cultural Heritage for the Develoipment of Sustainable Tourism in Non-Traditional Tourism Destinations . European Institute of Cultural Routes.2007. Evans, Graeme. 2008. Hard-branding the cultural city from Prado to Prada. International Journal of Urban and Regional Research, Hall, D.R. 2001. Tourism and development in communist and post-communist societies. In Tourism, and the Less Developed World: Issues and Case Studies, New York: CABI Publishing UK McCain, G., Nina M. R. 2003. Legacy Tourism: the Search for Personal Meaning in Heritage Travel. Tourism Management Nasser, Noha. 2003. Planning for Urban Heritage Places: Reconciling Conservation, Tourism, and Sustainable Development. Journal of Planning Literature . Santagata, Walter. 2002. Cultural Districts, Property Rights and Sustainable Economic Growth. International Journal of Urban and Regional Research Schweitzer, Carole.2007. Cultural Tourism: the Hot Ticket to Cool Meetings. Association Management
Monday, April 13, 2020
What made him write An Inspector Calls and why set it before World War One Essay Example
What made him write An Inspector Calls and why set it before World War One Essay If men will not learn that lesson, they will be taught it in fire and blood and anguish. This is an extremely powerful quotation that the Inspector leaves us with. Without a doubt these words are very true. In 1914 World War One began and all this fire, blood and anguish became reality. Britain had entered a four-year war that would have an unimaginable effect on her people. Thousands of towns, cities, homes and businesses were destroyed. Millions of people, men the majority, died horrific deaths. Limbs blown off in explosions, bodies burnt alive in scorching heat, shells blasting, bombs lighting up the dark night, poison gas smothering trenches trapping screaming victims below its green deadly surface. One can only imagine the pain, agony and shear devastation and lost of human life. The war ended in 1918 and much of Europe including England was left destroyed. For people like Mr. Birling it was time to rethink. Is it every man for himself? Is community nonsense? This could be one function of the Inspector; to get the Birlings, especially Mr. Birling, to care for others and accept responsibility before it is too late. Only twenty-one years later in 1939 another war broke out in Europe. World War Two lasted for six years, an extra two years of fighting the enemy. In 1945 the war ended. In that same year An Inspector Calls, the play that I will be analysing was written. John Boynton Priestley the author set his play in 1912, before these terrifying events. We will write a custom essay sample on What made him write An Inspector Calls and why set it before World War One specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on What made him write An Inspector Calls and why set it before World War One specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on What made him write An Inspector Calls and why set it before World War One specifically for you FOR ONLY $16.38 $13.9/page Hire Writer This is very significant in order for his play to work effectively, as the themes included in the play are one way or another, directly related to this time and the years and events that will follow. An Inspector Calls covers very clearly a variety of different themes and ideas that Priestley is concerned about in society. He uses the Inspector as the main character, or one could say a tool, to express these themes and ideas to the audience. The sort of ideas Priestley is concerned about in society and is trying to show are the aspects of: responsibility, community, lies and truth, honesty and self-deception, equality, social snobbery and double standards. I will be covering these aspects and indeed many more as I progress through this assignment. What inspired Priestley? What made him write An Inspector Calls and why set it before World War One? The answer lies in his life before the year of 1945. To answer these questions we must first establish and be aware of the following background information. The Edwardian times seemed to be a very exciting and secure time for Britain and many of her people. She was quickly advancing in industry and technology. Her armed forces were also growing and obviously she was extremely wealthy. For the people living in the upper class society times were good however millions were not having such a good time. For the millions struggling there seemed to be no hope, there was no legislation to save workers from exploitation which of course was occurring in factories all over the country and no Welfare State to support these living such a poor life if times were very bad. The Inspector (Priestley in one sense) could see that this is not the right sort of society and that it had to change otherwise severe consequences would follow. The play is based around this Edwardian society and the Inspector tries his best to cover these important issues and express them to the Birlings in order to make them see what it is like for the other people, not just their breed. Priestley was born into a middle class family and did not suffer like the lower classes, however, this doesnt necessarily mean he did not know what was going on or how these people felt. Priestley as a young man spent four years on the battlefield fighting against the Nazi enemy in World War One. During this war Priestley on numerous occasions, narrowly escaped death, this period in his life allowed him to look at life differently and without a doubt he was directly influenced by these experiences. These four years were the platform which he could build upon. Now with his ideas Priestley needed a suitable date to set his play, the most appropriate date was the year 1912. By specifically choosing to write An Inspector Calls after World War Two and by including the material he has done and indeed the Inspector, Priestley could very effectively attract and hold his audience, as many of them felt the way he did and had lived through the wars and shared his experiences. As a result of the wars everyone was brought together. Everyone united as one country and worked together to defeat the Nazis. The children were brought together by evacuations, the women working in factories to produce uniforms and war goods for their men were brought together and of course the men on the battlefields fighting together managed to build a strong relationship among themselves. As a direct result everyone learnt to look after one another and to care for each other, reflecting the fact that; We are all members of one body. as the Inspector would say. The audience now more aware could look at certain characters i. e. Birling and see how wrong he actually is. How does the Inspector represent and present Priestleys central themes or ideas could one say? First I shall establish what Priestleys central themes actually are. His central ideas are the aspects of: responsibilities the responsibilities people can and cannot accept, personally and socially; community the environment people are living in and how it affects them; lies and truth can certain people tell lies and get away with them easily and how some people can tell constant lies whilst some cannot even tell one; honesty and self-deception can people be honest or indeed cannot, if so how can they without being affected in any way, how can they deceive themselves; equality and social snobbery why do some people believe they are superior to others and party; double standards how and why do the men act differently and have different rights than the women and why are they considered less affected by bad news. Mr. Birling believes that a man should make his own way in life, stands on his own two feet and should only look after himself and his family. He says; a man has to make his own way has to look after himself and his family too, of course community and all that nonsense a man has to mind his own business and look after himself and his own-. This quotation clearly expresses Birlings feelings about community, he believes its nonsense, and he doesnt seem to care for others, only blood relatives and his wife. The audience now looking back to this attitude may well have thought like that before the war but probably have a totally different view after. The Inspector arrives and talks about community, he somehow manages to predict (hence his name Goole supernatural quality) the future and so his view on community is just like the audiences only that he is in the year 1912 whilst the audience are in the year 1945. This is an example of forward thinking and because many members of the audience felt like Priestley he could try to persuade them to take his point of view. This is a very good example of a deliberate attempt made by Priestley to get the audience thinking about this attitude of Birlings and the past, maybe even Priestley himself thought like this before the experiences of the wars. Priestly enables the audience to use their hindsight to reject Birlings opinions because Priestley has made Birling say the Titanic would not sink; the titanic and unsinkable, absolutely unsinkable, and there would not be a war Nobody wants war theres too much at stake these days nothing to gain by war, and we as the audience know he is wrong on this, we therefore also reject his other views and thus accept the Inspectors point of view as a result. Mrs. Birling is another example of someone who will not admit personal responsibilities. She clearly does not want to accept any responsibility for the death of Eva Smith. A quote that shows this; father of the child, its his responsibility. We can clearly see that Mrs. Birling is trying to blame the death onto someone else and we begin to gather an image of this woman in our imagination. Another quote that backs up this view is; I accept no blame for it at all. Again Mrs. Birling is refusing responsibility. The audience know that everyone is responsible for one another because they have been shown this through the Inspectors comments. The Inspector talks about social responsibilities. Although Eric and Sheila do show signs of this the Inspector is the one who stands out the most. He says just before he leaves; One Eva Smith is gone but there are millions more Eva Smiths and John Smiths all intertwined with our lives We are all members of one body what we do affects others. This quotation is very important. The Inspector says these words because he is very aware of the fact that war will occur in the future which will cause the people no matter what position in society or class to come together, everyone will be responsible for one other, there will be no superior individuals. The audience will most certainly agree with the comment as they too just like Priestly have lived through the wars and are very much aware of the changes that are going to happen. The upper class community at the time was very formal. There were successful businessmen and their very snobby wives who were totally dependent on their husbands business. There were frequent dinner parties where these upper class people met, and obviously their conversations were dominated by business. The Inspector enters on the stage during one of these parties. The upper class people were very shocked to find out if someone in their community misbehaved; it was more likely to be a lower class person who did so. Mrs. Birling shows this when she discovers that someone she thought was a respectful citizen actually frequently abuses young women, she says; (staggered) well, really! Alderman Meggarty I must say, we are learning something tonight. This quotation with the direction staggered shows that Mrs. Birling is clearly shocked and amazed that this man is carrying out these activities on young women and also she is ignorant of the activities that are happening in the upper class society. Imagine the Inspector being a sharp object i. e. a pin and the Birlings are being protected by an invisible shield i. e. a bubble that only contains ignorance and what ever they want it to contain, the Inspector pops this bubble and the truth about the world rushes in. The Birlings are pretty much so protected from the terrible world and the Inspector is pouring these terrible facts onto them, exposing them. This could be another function; to present the facts to the Birlings, to make them see the truth about the real world and so learn from what they are doing. The Inspector manages to expose some of the characters double standards, Mrs. Birling being a good example. She says to her daughter Sheila; Girls of that class in response to an opinion of Sheilas, one which shows signs of sympathy towards Eva. Mrs. Birling also says; .. As if a girl of that sort would ever refuse money! in response to one of the questions the Inspector asks, showing that Mrs. Birling is an upper class snob who could not possibly have feelings or consideration for other classes of people. She believes she is so much better and more superior to others, she is totally stuck up, mocking others from her over hanging, protective bubble. When the war ended especially the First World War everyone including people like Mrs. Birling, were refreshed i. e. reminded that humans are one species and there is no reason why some of them should feel or believe that they are more superior to others. The war if you like was a warning or indication of some sort from somebody and was a deliberate event to make society realise what it has become. Another function of the Inspector is to try to warn the Birlings that if society will not change then war will follow. Priestley himself is using the Inspector as a tool to do this. Each character in the play has an individual personality and of course their personal view on different matters will be very different from others, in one sense each of the Birlings can represent each member of an upper class society. Some characters tell lies whilst others admit the truth straight away. In my view Eric and Sheila are very alike and are the sort of people who would admit to the truth straight away with no hesitation although Sheila is more honest. Gerald and Mr. and Mrs. Birling seem to me to be a little more difficult to get the truth out of. The Inspector very cunningly manages to get a confession or something with significance out of all the characters one way or another, for example he leaves Sheila and Gerald to talk alone whilst he is listening to the conversation and waiting for that key confession. Sheila and Mr. Birling say their part in the role of Eva Smiths death with little persuasion, although Mr. Birling needs to be convinced occasionally. Quotes that show the characters lying, telling the truth, being honest or being deceiving are (Gerald lying); And I have already told you I was awfully busy at the works all that time. We later discover that Gerald was actually having an affair not working at his works. Gerald clearly is feeling nothing when he says this even though he is lying to his fiance and deceiving himself. Sheila shows honesty and responsibility when she confesses that she got Eva Smith sacked from Milwards. She does not hesitate and takes responsibility for her role in the death of Eva Smith. The quotes that show her honesty is when she says; (miserably) so I am really responsible? this quotation is showing that Sheila is felling guilt for her participation in the death of Eva Smith. Also; Im trying to tell the truth. This quotation is showing that Sheila is someone who is honest, kind and caring unlike her mother. The Inspector has in one way done a good thing by introducing this news, he has made the Birlings, Sheila in particular, realise that things terrible do happen, for example the suicide of Eva Smith, and if you have been responsible somehow then you should accept the consequences that await. Sheila explains what happened freely, and throughout she shows signs of guilt. Sheila is an honest person unlike her fiance Gerald who needs persuasion to admit his role in the death. Mr. Birling being a businessman like Gerald has similar opinions (these two characters represent all upper class businessmen) and so when the Inspector and Eric try to make Mr. Birling feel responsible he obviously tries to blame it onto the girl and Gerald backs him up. The quote that shows this is when he says; Rubbish! If you dont come down on some of this people they will soon be asking for the earth. Gerald replies I should think so! These quotations show that Mr Birlings honest opinion is to be tough and harsh to the employees if they ask for more so that you do not show weakness. It also shows that he feels strongly about this as he has used said this view in a loud manor (exclamation mark shows this). Is this view wrong? Should he be saying this? Priestley is trying to get the audience thinking about these aspects he is concerned about and he uses the Inspector or numerous occasions very effectively to get these views out of the characters. Mrs. Birling as I mentioned before doesnt want to accept responsibility for Eva Smiths death. When the Inspector asks her questions, she could be considered a liar as she says; Ive done nothing wrong and you know it. Mrs. Birling has done something wrong however she cannot admit it this quotation is showing that she is in fact lying. The Inspector is using what the characters have done in the past to question against them and to see how much they can tolerate, he in one way winds them up by going against what they think is right. There are frequent examples throughout this play that show that the men are more able to accept bad news. Mr. Birling and his wife try to protect their young daughter from the suicide on numerous occasions one such occasion is when Mr. Birling says to the Inspector; (angrily) there is not the slightest reason why my daughter should be brought into this unpleasant business. Mr. Birling does not want his daughter to be exposed to the horrible truth of life, at least not at the moment. Again there are examples throughout the play that show that the men are more likely to have a sexual relationship before marriage and it is considered natural, unlike for the upper class women who are not allowed or presumed not too. Priestley doesnt believe that women should be protected we can tell this because he uses the Inspector who says in affect that there is no reason why Sheila should not hear the truth. He says to Sheila when Mr. Birling tells her to run along; No, wait a minute Miss Birling, in other words he wants Sheila to be involved in the conversation.
Wednesday, March 11, 2020
The american holocaust essays
The american holocaust essays What Ever Happened to the Indians?-A Look into the American Holocaust For years and years students across the world have studied and memorized endless gory facts about massive genocides such as the Jewish Holocaust, the World War Two atomic bombs, and the religious Crusades. These were extremely significant events during the history of the world because they changed the lives of so many people. Millions of people were killed during these three events simply because of their religion or the color of their skin. All of these genocides were unique for one reason or another including the numbers of people killed or the time period in which it took place (Stannard 151). Several books, including school textbooks, often go into great detail describing these bloody events. However, as horrible as these extensive murders were, there was another massive genocide that occurred right in our own country that is barely acknowledged when compared with these other three, especially the Jewish Holocaust. The extermination of almost all Native American Indians was easily one of the most horrific genocides in history, totaling nearly 100,000,000 deaths (Stannard 151). Yet this particular genocide is barely given any attention. In his book American Holocaust, David Stannard questions why we, the world as a whole, dont seem to care about the terrible things that the Europeans did to the Native American Indians. Also, why, when more Indians were killed, is there more emphasis on the Jewish Holocaust and other extreme events? And finally, why did the Europeans find it necessary to exterminate virtually every American Indian? He seeks to answer these questions and more through examples of torture techniques, European attacks on Indians, and other evidence that he researched. Stannard comments on how there is a traditional Eurocentric bias that lumps undifferentiated masses of Africans into one single categ...
Monday, February 24, 2020
Communication Strategies Essay Example | Topics and Well Written Essays - 1500 words
Communication Strategies - Essay Example Generally beach areas are populated with tourists and young families who always desire a source of balanced meal nearby. Currently the visitors in Lido Beach are found to survive with only carbonated drinks and packaged snacks. Therefore, the owners have come up with this business opportunity of pizza restaurant in this location. This report presents the effective communication strategies for some possible critical situation that might takes place in the away of project implementation or project development process. These will help the company to efficiently and successfully complete the project within estimated duration of time. First possible situation is that a technical team member has requested a transfer due to project team conflicts. This is a very common situation in project development process. For overall completion of projects, multiple teams work together for different purpose and different categories of work. A project like establishment of a pizza restaurant consists of multiple activities carried by different teams. Each team has individual objective but the overall goal or mission is same. So, there are different teams working together and in each team few people works together for similar works. Conflicts among the team members are very common in project development process which results a major decline of a teamââ¬â¢s overall output. Conflicts might happen for many reasons. It might be unequal work pressure of each employee of a particular team. It also can be for major difference in the performance level of each worker in a team which results a higher work pressure on one or few efficie nt employees. Communication gap among the employees or between the employees of a team and supervisor or team leads might results conflicts in a project team. Lac of transparent subjective communication is responsible for conflicts in a team, lower output and delays in completion of
Friday, February 7, 2020
Managment Essay Example | Topics and Well Written Essays - 2750 words
Managment - Essay Example The paper ends with drawing on general and specific lessons out of the case study for management today. The Issue mainly in concern is the importance of political instability in management decision making. Popular uprising Before starting this paper letââ¬â¢s have a look at the word popular uprising. Popular Uprising as defined by the free dictionary has got two meanings: Widely appealed 1. Revolt against a state authority or constituted government or its laws; a rebellion. 2. Act or any instance of rising or of rising up. While the reverso.net dictionary defines it as Popular: An act widely accepted or appealed Uprising: A revolt or a rebellion Introduction to popular uprisings in Middle East Between the late 2010 and the early 2011 a wave of many spontaneous revolts in Tunisia along with Egypt led to the downfall of local regimes. The foreign exporters and the investors in these countries are being affected by the ongoing events, including industrial action, supply chain disrupt ions, looting, and increased counterparty risk. Furthermore, the success of initial protests ignited new tensions across the Middle East and the North Africa (MENA), threatening the very stability of Bahrain, Iran, Jordan, Algeria, Libya and Yemen. Uprisings in Tunisia and Egypt The catalyst for uprisings in Egypt and Tunisia revolts was the suicide of, Mohamed Bouazizi, in the Tunisian town in December 2010; he set himself on fire to revolt against a decision by local authorities to seize his wares. Within few weeksââ¬â¢ demonstrations spread in whole country, as many Tunisians took to the street for protest against political repression and living conditions. Unrest in Egypt Overthrown President Hosni Mubarakââ¬â¢s regime in February led to an unprecedented uprising that was unable to stop. The aims of the revolt were to topple Ben Ali and replace his authoritarian reign with a multi-party democracy. General effects on economy and businesses The wave of recent uprisings that is sweeping across the Middle East along with the North Africa is set to have a major impact on the risks of doing businesses in such country. As political instability keeps on rising in these regions, companies around the world would need to prepare for thereafter knock on effects on the supply chains and business costs occurring across most sectors. This would in the short term cause political instability and economic breakdown in the affected countries which is likely to impact the supply chains around the world; and the textile companies in Europe and consumer goods producers from China and other Asian economies are the ones most vulnerable to these shocks. The careful monitoring of such political and economic trends, the alternative sourcing and the stockpiling are the strategies that can reduce the impacts of these disruptions. The longer term effects would include heightened political risk that could lead to deteriorating economic conditions and tighter access to credit, rais ing the payment risks for the companies that are dealing with MENA (other emerging markets). Adequate political and export risk insurance cover and safe trade terms, such as the documentary credit, will be essentials to mitigating counterparty risk. In the wake of the recent crisis in the MENA region, the lenders and insurance companies are likely to upwardly re price the risk premium that is attached to dealing with such
Subscribe to:
Posts (Atom)